5 Steps to Create an eBook
I set myself a challenge to double my money repeatedly, starting with $2. After doubling it 19 times, I would have over $1,000,000. The latest thing I did to double my money is create and sell an eBook. This can be free to do or if you want it to be a little more professional and don’t have all the skills, you might need to enlist some help.
How I Turned $60 into $120
Stage 1 was using $2 to buy a book which I then sold for $8. Next, I used the $8 to buy a dress for $7 and 2 more books at 50c each. Together those items sold for $30.
With the $30 I used a refer a friend code and Facebook ad credit to generate $60 almost immediately. This ad generated more than $60 but I am sticking to $60 here for ease of tracking the doubling method. So I am focusing on the doubled amount only.
Turning $60 into $120 had me a little stumped at first. The goal is to double the money each time but for some reason, in my head, I was stuck on buying things to resell to double my money. But that isn’t what the challenge is. It’s just finding a way to double your money.
Multiple Streams of Income
As I have gone along in this challenge, I had decided to look for ways to create multiple streams of income with it as well. So each stage can, in theory, continue to generate more money even after I doubled the original amount. With the first two, it is about buying and reselling. My 14-year-old has gotten right into this too.
Since I found some items we’ve sold successfully before, we decided to continue with buying and reselling on the side. Most things only take a few minutes to list and so far, she is doing well with Lego and clothing. I am doing well with books and clothing.
Create an eBook
To turn $60 into $120, I decided to create an eBook. I know this will continue to generate income even after the original double to $120. How much it costs to create an eBook depends on your skills, what you are willing to do and where you sell it.
If you are skilled, you can write it, create the cover art and promote it for very little. I’ve written eBooks before (check out my eBooks here) so it was easy for me to create and promote this. The $60 was spent on promotions and again, within a short period, I made $120.
Next month, I will be actively doing a lot more to promote it and have a goal in mind for how much I can make with this one.
How to Create an eBook
I’ve written and sold numerous eBooks over the years. Some got the attention of the News which made for great sales. Ideally, when writing an eBook you need a marketing plan as well. It’s not enough to write it and hope millions of people buy it. Marketing and PR are essential to get your book out there and generate sales.
Here are my tips for creating and making money from an eBook.
Check there is a market for the book, get people interested and promote it before you launch it. Do guest posts, line up interviews, send out press releases and generate hype around the eBook before you go live.
With the prelaunch, you can sell it before you’ve even written it but ensure you have enough time to complete it, edit it and get it all ready before you do. Doing this generates income to enable you the time to create the product.
Create The Book
This is stating the obvious – create the book. Write it yourself or outline it and get a ghost writer to write it for you. Format it for wherever you decide to sell it, ensure you obey all copyright laws and aren’t stealing content from anywhere else.
Create a great cover or pay an artist to do it for you. Put it all together and your book is good to go.
Upload to Selling Platforms
If you have a website, you can sell your eBooks directly from it through WooCommerce and similar. They have an add to cart feature making it easy. You can use external platforms such as e-Junkie and you can list on Amazon.
When I launch an eBook, I typically have it available on all platforms and if Australians could have their books on Audible, I’d do that too.
Launch day is here! Continue to promote your book. Look for any opportunity you have to mention it, get into media, do guest posts, be on podcasts, host sessions in Facebook groups, everything.
To be honest, with this last eBook, I didn’t do all of this and have had too much else on my plate that I let it slide. I still made sales because I have a platform elsewhere and a great audience.
I know my sales could be much better and as of next month, I will focus on promoting a lot more.
Now that’s done, onto the next stage of doubling: turning $120 into $240!