Wednesday, June 18, 2008

The Ebook Business - Fast Cash Or Fantasy?

By Dennis Cordy

There are quite a few ways of making money with an ebook business and actually writing ebooks is just one of them. You will undoubtedly read of the fortunes to be made. Big money. Fast cash. So are the big numbers real or just good to be true?

Let's cut through all the hype. There's no big secret, no overnight success, no get rich quick.
But if you know how to look, and how to get there, there might just be a pot of gold at the end of the rainbow.

That analogy a bit too hyped for you? Yea, I wondered about that myself but hey, we're writers, you have to allow a bit of creativity from time to time!

Here's the thing. The important part to focus on about the phrase "ebook business" is the second word, "business". Ebooks are the fun part, the exciting part, but without a bit of concentration on business all you have is a hobby.

Hobbies cost money, they don't make money.
The upside is, if you get it all together and working well there IS serious money to be made. It's not fast cash but it can be big numbers and because of the passive income that ebook publishing can create you may end up working half the time you do now for twice the money.

But let's keep our feet on the ground. You can't build a substantial, sustainable business in five minutes. Though I have known people go from zero to independent in twelve months it's likely that it'll take a bit longer. It won't always go exactly according to plan. For a while you'll probably have to work harder than you are now - running your ebook business alongside your day job - until such time as the income is sufficient for you to go it alone.

That's a brief outline of the path, what about the pot of gold?
Guys like Ken Evoy and Marlon Sanders are properly, seriously, helicopter and luxury yacht-type rich. They're both ebook publishers.

Maybe that's too far for you to reach just yet. It's true that Ken and Marlon both now have other interests as well, and staff to help them. Maybe that's not your idea of the kind of business you'd like. Maybe you'd like to be earning good money but maybe working from home so you have more time with your family. How about a more "normal" level of earnings?

I know of one woman who wrote an ebook about her hobby, making candles. Nothing unusual there you might think and indeed there are hundreds of candle-making books. This one was just a bit different though. Some new techniques and ideas.

It caught on. That little candle ebook sold over $100,000 its first year.
I know of another guy who doesn't write ebooks, he promotes them. Working from home he makes between $12,000 and $15,000 per month.

There are others who write for blogs and earn big money from advertising revenue. Others use their writing skills to market other businesses. Advertising copywriters are another well paid group.

My personal preference is for the writing and publishing of ebooks. It's the area I believe is the most profitable (and I have to say, for the least effort).
But that's just me.

Whichever route you choose and whichever ebook business model you pursue, make sure you treat it like a business. Do your research. Plan. Put in the work. Don't get sucked in by promises of a fast return for investing $20 or $50 or $100 bucks a month in some new scheme. The only people getting rich quick out of those are the people selling them.

Learn from someone who has actually done it. Dennis Cordy is a writer and ebook publishing consultant whose website is packed with free info about how to build a successful ebook business. He also has a new blog dedicated to the money-making side of ebooks at Ebook Income.

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