How to Make Money From Your Book And Get Massive Profit Before You Finish Writing It
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Articles > Online BusinessHow to Make Money From Your Book And Get Massive Profit Before You Finish Writing It
by: Eo Lim
You can generate instant income from your book instead of waiting till you complete it.
There is a way to do it. However, this method may not suitable for all.
One way to get into profit immediately is by strategy of On People's Money.
I bet most of you already know how instalment on car or house loan works. You get your car or house upfront. And, you must pay it every month.
This is simple to understand.
But, what if it is the other way round?
It works like this.
You gain a lump sum of money selling future contract of your service without having to render it completely now.
The trick here is to make money selling your product upfront and deliver it over a period of time.
By doing this way, you'll have better cash flow for business operation.
How to make it work in your book?
Write and sell one chapter at a time.
Turn the chapters into newsletter issues and sell them at much higher price.
A completed book is usually distinguished by consumers as less valuable than paid newsletter.
Such strange behaviour happens all the time. The longer time it takes to fulfil a product, the higher the perceived value is.
Such mentality is the same to people buying car or house on credit. They'll stay with the program until full ownership is transferred to them. It is like a wonderful dream they're chasing after at.
And, they've no choice but to fulfil the credit agreement. Otherwise, it can turn into their worst nightmare.
In this case, situation works against book publisher.
If you know you pay a lump sum of money upfront for monthly solid information, would you wait until you earn back your investment?
Or, you would rather buy a book straight.
I know you'll definitely choose the monthly information.
Let me tell you why.
Most consumers don't want to miss such product delivery. They're not stupid.
If publishers take the money upfront, they're also aware of legal agreement. They must render full service faithfully till the end of contract. Otherwise, customers may request for full refund.
This money making strategy works against publishers. But, it can work against customers if you can deliver your promise.
In fact, many business experts make tons of cash selling through this product format.
Imagine you've already done 12 chapters for your book.
You could sell these in 12 separate issues for about $9.95 to $14.95 each. A 12-chapters book may only fetch a value of less than $49.95.
Do the calculation now. If you sell 12-issues newsletter, you already make $119.40 upfront!
The newsletter subscription may be the hardest thing to sell. Nevertheless, it depends on how you exploit the advantage of it.
One simple yet powerful trick is to give 12 issues as bonus. People will buy this deal upfront. The additional 12 monthly issues are just icings on the cake.
You'll be sending to your customers every month for another 12 months. It means you have the opportunity to sell more back-end products. There's no need to spend extra money to generate new leads.
Many entrepreneurs have built at least $200,000 or more per year income stream with only a few simple, short reports at the beginning. At the end of each report, there's always an offer to more products. The customers will probably bite on at least one offer as well.
This business has a million dollar a year potential. It can be started in less than a week. And, the reports are usually about 5 pages or more. Unlike sales letter, they're easy to create. One report can be written in just a single day.
Can you see the potential now?
That's how you make money on other people's money in the Internet.
About The Author
Eo Lim has helped many businesspeople succeed online using the revolutionary P.E.R.F.E.C.T. writing formula. Visit his site to find out how you can get a free consultation: http://www.EoLim.com
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