eBooks As Money Machines
This page is part of the Zero To Hero series of Financial Freedom Blueprints and provides information on generating passive income through eBooks, which are one form of “money machine”.
What Are Money Machines?
“Money machines” are basically assets (things) that generate money for you without much (if any) involvement on your part once you build or buy them. More information on what money machines are and how they operate can be found here. If you don’t understand this fully, don’t worry.
eBooks (and paperback books) are money machines. They take a certain fixed amount of time to write (e.g. 40 hours) and have the potential to produce an unlimited amount of money for you over time. As long as the books are relevant, interesting, and are promoted properly (e.g. through social media), they can continue to produce income for you on a regular basis and for a very long time.
The income that is produced from books is referred to as “cash flow”. Specifically, it is referred to as “passive” cash flow, since you are not having to actively do much of anything on a regular basis to receive the income. In order to obtain true financial freedom in life, you want to build or buy as many of these cash-flowing assets as possible.
You Can Write A Book
When I suggest that people write books, they usually give me excuses as to why they can’t. The fact is, these excuses are essentially just lies they tell themselves and others as an excuse not to do something. If you want to get ahead in life, you cannot make excuses. Here are some of the common reasons why people think they can’t write a book, along with my rebuttal to these excuses:
They don’t have the time: If you don’t make the time, you won’t ever get ahead. Everyone has the same 24 hours in a day. Manage your time better and dedicate some of your time to getting ahead in life.
They’re not an author: Change your definition of what an author is! You communicate with others on a daily basis using language in spoken and written form (e.g. emails). You are already an author! You just haven’t published your first book yet.
They don’t know how: Read books (or just examine their contents) to get a basic understanding of how to put a book together. Your book doesn’t need to be perfect – just start writing.
They’re not an expert: Everyone is an expert in several things because expertise is relative. As long as you know more about a topic than someone else does, they will be interested in buying your book if they want to learn more, because you know more than they do (e.g you are more of an expert than they are). You don’t need to be the world’s utmost expert in any area to write a book. Beginners do it all the time.
Length Doesn’t Matter – Value Does
The length or size of a book doesn’t matter. Neither does the cover, so long as the title of the book is interesting and catches a potential buyer’s attention. When writing eBooks, you don’t need to write a long novel. I would suggest starting out by writing short eBooks that are in the 5-20 page range.
Regardless of how long or short your book is, the key to success in selling your book is in the value it provides to the buyer. If they are interested in a topic and your books grabs their attention and seems like it has what they need, you have an interested customer who will likely buy your book.
Ideas For Book Topics
If you’re not sure of what to write books about, here are some ideas of things to write about:
- Your background, childhood, and life experiences
- Lessons you’ve learned in your career and your personal life
- Your dreams and aspirations
- Any skills or knowledge that you’ve acquired throughout life
Here are some specific examples to get you started:
- How to preserve fruits and vegetables
- How to grow a garden successfully
- What it was like to grow up in poverty
- How you accomplished a goal and how that information can help others
- How you overcame your fear of public speaking
- How you learned to open yourself up to love
- The challenges you faced in childhood (e.g. feeling alone, frightened, bullied, etc)
- How to build homemade carpentry projects
- How to knit or crochet
- How to use, debug or administer computer software or hardware
- How to get started in marketing or sales
- How to start a small business
Where To Publish And Sell Your eBooks
Amazon.com allows independent publishers (i.e. individuals) to publish eBooks free of charge. The only cost to you is the time it takes you to write the book. Visit kdp.amazon.com to get started setting up an author account and publishing eBooks.
Pricing Your Book
While the price you sell your book is up to you, here are some general guidelines…. If you’re just getting started and have a short eBook, you might want to price it at 99 cents. If you have very valuable information in the book that people would really benefit from, you can charge far more than that. Strategies for pricing your book can be found online.
Promoting Your Book
Social media is a great place to promote your book and increase sales. I suggest using Facebook and Twitter as starting points for promoting your books.
I know it’s scary when you set out to do something new for the first time, and you are often filled with self-doubt and inner turmoil when doing so. But just know that every expert and every highly successful person started from nothing. If you dedicate yourself to continuous improvement, you will achieve greater levels of success in life than you ever imagined possible. I’m looking forward to hearing about your Zero To Hero story!