One of the most fun things about selling an ebook is the residual income any successful ebook generates.
Just think about this powerful effect for a minute - it’s the sort of thing that can change lives.
When you go to work you’re on a fixed wage. You’re a wage slave. In order to earn - let’s say $40,000 - you need to be earning at least four times that for your boss. In other words, at best you’re getting 25% of your worth. At best.
When you sell your ebook you may not get $40,000. Not for your first one anyway. In fact if you’re just starting out you’ll be lucky to get anything like that unless you’ve had plenty of money to invest in the launch.
But let’s say you did the launch as cheaply as you could. In fact let’s say you spent nothing. You did a bit of article marketing, you got the word out on some appropriate forums. As a result, maybe you’ll only get a few hundred dollars your first month.
The point is, there’s very little more to do. You should continue your marketing efforts, of course, but the ‘hard work’ of writing your ebook is done. People buy it and you do almost nothing.
And it’s going to go on like that for years. That’s residual income. You created something that perhaps doesn’t quite sell itself but as near as damn it does. You’ll probably need to answer a few emails and you’ll want to keep on getting the word out but other than that… That’s the beauty of residual income.
If we go back to the “25% of your worth” comment I made earlier and compare it with selling an ebook you’ll probably find that after expenses (which can be just a few dollars) you could be making as much as 90% of the cover price in profit!
Of course if you’re ebook is only selling a few hundred dollars a month then you’re not going to be ditching the day job overnight. If you’re looking for “get-rich-quick” you better stay with the other dreamers - they’re all still going to the office or the factory too.
Like any business it takes time and it takes work (although frankly I find it difficult to call writing for a living “work”).
But it’s not rocket science. Once you know the basics it’s pretty much a question of doing more of the same. Write a second ebook. Try your hand at promoting other people’s ebooks through affiliate marketing (which can be another powerful example of “residual income”).
About twice a week, almost every week, I get money for selling an ebook I wrote five years ago. It’s only $15 a time - $30 a week - so clearly it’s not my only income. However, I do nothing for it. I spend no time on it at all. I haven’t even updated the website for three years. Still that little ebook sells.
If you’d like help doing something similar yourself, visit the main site at Boxabooks.com
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