OLD POST ALERT! This is an older post and although you might find some useful tips, any technical or publishing information is likely to be out of date. Please click on Start Here on the menu bar above to find links to my most useful articles, videos and podcast. Thanks and happy writing! – Joanna Penn
An e-book is basically the same text as a print book can be, but it's sold electronically in a format compatible with ebook readers, for example mobipocket for Kindle or ePub for iPad. It can also be a special report, images, and useful material in PDF format that you can give away for free on your site like the Author 2.0 Blueprint available here.
The benefits of an e-book are:
· It can be sold to anyone in the world over the internet with no printing or shipping costs, therefore your market is instantly expanded beyond local bookstores.
· You can make more money selling an e-book than a print book. For example, the profit on a $27 e-book is about $24 (credit card/Paypal fees). Whereas for a $27 print book, it is about $3. However, as ebooks become more common, prices are dropping.
· You can write e-books more quickly than print books and they have a lower cost to produce.
· There is no set price for an e-book and many people combine them with other audio and video products to create packages selling for thousands of dollars. People know how much a print book costs so they will never pay more than a certain amount.
· It is another sales channel. You don’t need to stop doing print books as an e-book is just another way to sell.
· Once setup, e-book sales are passive income. The money just comes into your bank account without you doing anything else. No printing, shipping, no receipts, no documentation – just sales and profit.
- You can include interactive material in an ebook hyperlinking to websites and other material
The process for creating an e-book is:
· Finish your book
· Create your book in MS Word or in other word processing software programs.
· Publish it as an ebook in multiple formats using a site like Smashwords so it can be purchased by cell phone or over the internet.
· Or/ Save it as a .PDF format and sell it from your website
I have found e-books to be a brilliant way of making passive income. Once it is set up, the money comes in when people buy online and you don’t have to do a thing. Soon after loading my first e-book, we were watching a movie at home. I logged on afterwards and I had made money. That was my first online sale and I was so excited! I made money while watching a movie! It was just a start, but I'm focusing on growing this area of sales, as well as having print books.
I now offer a multi-media online short course on how to publish your book on the Kindle, iPad, Nook and other e-readers as well as answers to all your ebook publishing questions. Featuring video, audio and PDF information for only $39.99.