I’m of the mindset that it will be easier to build my online income through focusing on developing one super-authoritative, high-trafficked site (GoBackpacking) than a lot of little sites. In fact, since buying the 5 new domains last week, and starting to devote time and energy to the first of them, I’m a little concerned that I’m losing focus.
Before I committed some money to that idea, I had outlined and begun work on a new book – one I hope to publish in paperback, as well as in electronic form, by mid-January 2010. I know there is an unfulfilled need for this book, and I have already developed the online (blog) platform to promote it.
Suddenly, I feel like an octopus with my tentacles reaching out in many different directions. Recently, I took note of two book sales updates, which has me thinking the book should be a top priority for me. Let’s take a look.
Nomadic Matt recently announced a contest for affiliates in an effort to sell more copies of his make money online e-book. By the way, I am not an affiliate.
First, he indicates having sold more than 300 copies since first announcing it May 11, 2009. At $27 apiece, that is a gross of $8,100. Sounds good to me. Of course, I’m sure a lot of those sales were via affiliates, and since he offers a 50% commission, that’d take a bite out of his gross earnings. There may also be some admin fees associated with selling the book and/or receiving money that I’m not aware of. Deducting 25%, would still leave Matt with about $6,000 in sales, plus a bunch of happy moneymaking affiliates. That’s about $1,000 per month, though I imagine the initial sales during the e-book launch make up the bulk of the total.
Roosh, a guy I met in Medellin who just launched his second book, A Dead Bat in Paraguay, reported selling about 285 copies (84 were in the first week, I believe). He priced it at $20 for the paperback, and $10 for the electronic version, with a 50% commission for affiliate sales. I’m going to guesstimate he’s taking $12 per sale, or a little over $3,000 in the first two weeks. But because he’s actually putting out paper books, it is probably less. To be honest, I have no idea. I do know there is a certain added level of prestige that comes with putting out a traditional book versus just an e-book.
I know these guys worked hard on their respective books. I don’t think either sees them as a sole source of income, but rather a way to build a new stream while increasing their authority on a certain subject. That is exactly why I think writing and selling a book should be a priority for me over building new websites.
On a personal note, my first effort at an ebook (“Dare Me!“) has resulted in positive responses, an increase in RSS and newsletter subscribers, 100+ visits to the download site, and 79 views on Slideshare. All within the first two weeks, without proactively seeking written reviews from fellow bloggers. I’ve learned a lot, and realized first hand why it is a great idea to give something away for free (at least in the beginning).
More on that strategy in a future post!
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Tags: book, ebook, goals, priorities
Good strategy. Without efforts you will achieve nothing.Thanks for sharing your experience.