How to Write Your First eBook & Make Passive Income
How to write an eBook and make Money
An ebook is a true form of passive income because after it’s written and published, you sit back and let the money come in. That doesn’t mean it’s easy but if mastered one ebook can make you money for years to come.
We’ll be discussing two ways of creating passive income with eBooks, the first being Amazon KDP (Kindle Direct Publishing), and the second being creating your own website to sell your eBooks.
How to Choose a Topic
Pick Evergreen Topics
Evergreen means it’s a topic that never loses its relevance. It will always be searched for, relevant and stay fresh for readers. Picking an evergreen topic is how you will create a truly passive income stream.
Good examples of evergreen topics:
- How to guides and tutorials
- Beginner guides
For example how to start a business, marketing advice, and how to start a blog will be searched for years to come because that information will always be valuable. Keep this concept in mind when choosing your topic.
Narrow It Down
An easy way to narrow down topics that you can write about are:
- Topics you’re knowledgeable in (cars, bikes, business, etc)
- Topics you enjoy (video games, sci-fi, cryptocurrency)
- A topic you’re an expert in (marketing, computer science, finance)
Writing something you have familiarity with will help you get through the process and is recommended for your first ebook, even if you’re hiring a ghostwriter.
Find A Profitable Niche
Lastly, you need to make sure people care about your ebook and will pay for it so you must find a niche that is profitable.
Here some ideas on how to do that:
• Search the kindle best sellers list and browse the categories. Look for the top PAID books and write down keywords and topics that your book can be based on
• Type the keywords you just found into Amazon and see which ebooks pop up. Check how the top 5 ebooks are performing for each keyword. Look at their best seller rank, if they’ve been on the store for more than 2 months, what the prices are, how many books are there for the keyword, if they have less than 100 reviews and so on. Try to see if they are selling and performing well and if you can compete with them.
Amazon KDP (Kindle Direct Publishing)
How to make money with Kindle publishing? Amazon Kindle Direct Publishing allows authors to self-publish, without the hassle of going through companies and editors. You simply write the eBook and get it published FOR FREE, and it goes to kindle stores.
Pros and Cons of Publishing on Amazon
- Free self-publishing
- Amazon takes care of all technicalities, such as delivery, sales, etc
- Huge customer base on Amazon
- Edit your eBook anytime
- Amazon takes about 30% of your sales
- Amazon wants exclusivity. Your eBook can only be sold through Amazon
- Earnings from Kindle Unlimited (KU) are determined by Amazon through a monthly pot. Meaning pricing for your eBook on KU will be out of your hands
- Lots of competition on Amazon
Selling ebooks on Amazon
The main benefit is Amazon has millions of people browsing their website every single day. If you can create good keywords, reviews, and know what people want to read you will beat the competition and have passive income.
Your Own Website
Pros & Cons of Selling on Your Website
- You keep 100% of the income
- You can develop a relationship with your audience, which can lead into more sales
- More personalized experience for your audience; coincides with the above point
- You can optimize your sales funnel
- You have to generate traffic and leads to your website
- Takes more time to set up your website
- Requires investment (domain, hosting, marketing, etc)
The two big points are you keep every dollar you make but you have to generate your own traffic and sales somehow.
If you are good at driving traffic from social media or other sources then selling on your own website might be the best option.
General guidelines when writing :
• Plan out your content, what will you write about, how will you approach your topic, any specific points you want to hit?
• Just do yourself a favor and create a Table of Contents.
• Don’t write like a robot.
• Always, always, always, reread, and reread again.
• Create a schedule for writing.
• Don’t be wordy, try to eliminate “fluff” that doesn’t do anything for your audience.
• Save your document as a .PDF
Hiring a Ghostwriter
What is a ghostwriter? Simply put, a ghostwriter writes your eBook for you, and you get the credit and the profits.
There are many different places to hire a ghostwriter, a common one is Upwork. You just outsource the eBook to a ghostwriter, provide the specifications, the topic, what you expect, the word count you’re looking for, and formatting and the ghostwriter takes care of the rest. Prices vary based on topics and word count of course.
When outsourcing your work, make sure the ghostwriter you hire is high quality, don’t go for the ones with the cheapest pricing. You usually get what you pay for.
Unless you have some sort of experience in graphic design, it’s recommended you hire a designer to create an eBook cover for you. Again, this is easy to outsource. Look into Upwork or Fiverr for cheap, high-quality designs that will fit perfectly. This shouldn’t take more than 2 days.
Use this information to get started and keep researching. Most importantly, make sure you have researched a topic that will sell and create something that solves a problem.