Jul
31
The Entrepreneur’s “Declaration of Independence”
Filed Under General, Personal Development | Leave a Comment
Inspiration is essential to any entrepreneur’s success. Usually, we begin through a great burst of energy. We want to ride the wave as long as possible, but sometimes the juice just runs low.
Fortunately, the ability to conjure up motivation from within is a defining characteristic of the successful entrepreneur. If you’ve done it once (even in the beginning), chances are you can do it again. I have many friends who simply insist that they do not have the kind of dedication and discipline to become self-employed. Perhaps this is true. Even still, the number one source of energy is inspiration - everything else simply follows its lead. I suspect that a lack of commitment really signals a lack of true inspiration.
Today, courtesy of ever-inspiring Pamela Slim of Escape Cubicle Nation, I want to offer a piece of reinvigorating inspiration. Watch this video with intention. Spend a few moments beforehand contemplating your business goals and dreams. Then, watch the flash presentation and be inspired.
When you’re finished, take a few moments to heed Pamela’s advice and consider your “Declaration of Independence.”
Here’s the link:
Tags: inspiration | entrepreneur | business
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Jul
29
In yesterday’s post, I gave an overview of the first five of ten steps towards creating an ebook. I am getting closer each day to launching my first publication (stay tuned) and want to show you how I did it in 10 easy steps.
To view the first 5 steps from yesterday’s post, click here.
Before we get started with step six, here’s an overview of the five steps covered in the previous post:
1. Brainstorm a topic
2. Outline the book
3. Write & edit each chapter, one at a time
4. Develop ancillary materials
5. Create appropriate bonus items
And now, the next five steps:
6. Format the book layout
Although you’re writing an ebook, readers will still want their book to resemble a traditional text as much as possible. Choose consistent font styles and sizes to give a “print published” look to the downloaded file. I advise selecting a readable font such as Arial, Trebuchet, Calisto, or Lucida instead of the standard Times New Roman. Also, modify margins for easy reading. I use 1” top and bottom margins and 1.25” left and right margins.
You can add other finishing touches for that professional look. Use headings and footers on each page just as you find in the typical paperback. I simply include the book title at the top of each content page and copyright information in the footer. You want readers to know they’re reading a book and not just a computer file.
7. Design a book cover
There are several options for designing an ebook cover:
- Hire a professional graphic artist with ebook experience.
- Price: $100-$500+
- Buy software to create your own ebook cover.
- Price: $25-$75+
- Create your own cover with templates.
- Price: your time and patience
Many ebook authors swear by the cover. I have yet to personally experience this part of the sales process. For now, I will launch my ebook with a cover I designed myself. I am not a graphic designer. I simply used my basic knowledge of a Mac graphic design program to make alterations to an ebook template. In the future, I may invest the $60 to purchase a program from Logo Creator.
8. Setup a merchant account
To sell your book, you’re going to need a payment processing method. Unless you’re tech savvy enough to create your own, chances are you’ll want to sign up for one of the online merchant programs. Here are three services to consider:
- Clickbank
- It’s about $50 to start a Clickbank account (one-time fee). From there, Clickbank takes 7% of each sale. A trusted merchant solutions service, many ebooks are sold through Clickbank because of its reputation and general success. When I launch my product, I’ll be using Clickbank for processing credit card transactions.
- PayPal
- Most of us have heard of Paypal. (Many of us have accounts!) With Paypal, sellers can process credit cards and accept direct deposits from another Paypal account. The major downside of Paypal is the need for an account. The major upside: low processing fees.
- Marketer’s Choice
- If you’re looking for complete account servicing, Marketer’s Choice may be the way to go. With many payment plan options (ranging from $30-$80/month), MC will enable autoresponse email, payment processing, digital delivery and a range of other offerings. The digital delivery function is especially popular with new sellers. MC completely enables product upload and downloads for quick customer access.
For those just getting started, Paypal is a good choice to keep costs low. Clickbank is an excellent way to pay slightly more but increase your overall sales potential. Marketer’s Choice may be reserved for the internet beginner and/or the sales pro.
9. Write and publish a sales page
When marketing your ebook, you’ll want to send customers directly to your sales page. This should consist of an independent website that immediately opens with a lengthy sales letter. Many argue that your sales page is the determining factor in the success of your ebook. If you have a strong page with great copy, you’re more likely to approach the 1-2% conversion rate goal. You might choose to write this page yourself or hire a professional copywriter.
10. Develop and execute a marketing plan
Once all of the product pieces are in place, it’s time to spread the word. In my upcoming ebook promotion, I will be using Google AdWords to advertise my sales page. I have a current plan that will drive a goal number of visitors to my site each day. I then hope to turn a small percentage of these shoppers into buyers.
Any good marketing method needs a plan. You will want to measure the ongoing success (or failure) of your marketing. By tracking the development of your results, you can keep your finger on the pulse of your ebook sales. Remember to think outside of the box, too! You might find cheaper, more effective ways of getting attention (for example, writing online articles or creating a blog).
*** *** ***
There you have it! The complete “10 Steps to Writing an Ebook.” Sure, there are many other side points along the way, but following each of the 10 steps will help guide you in the right direction. Your first time around will be a learning process. Once you’ve mastered the system, you’re well on your way to making a living as an ebook author!
Just rinse and repeat….
Tags: ebooks | write ebooks | info products
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Jul
28
I am nearing completion of my first ebook project and would like to share my experience to help make sense of a complicated process. Like any other new project, the first time is always a challenge. Looking back on the process, I can identify 10 clear steps I followed along the path. As the saying goes “Inch by inch, life’s a cinch; yard by yard, life is hard.” The same must apply to the “step-by-step” model.
So, here are the first five steps (I’ll post the next five tomorrow) of the 10-step ebook plan:
1. Brainstorm a viable/doable topic
Coming up with your ebook topic is no simple task. The first time around, the topic may be a no-brainer. If you have specific experience with something that others would pay to learn more about, that’s your golden egg.
But if you’re looking to develop a topic for the market, more research is involved. I would start with a tool like Google Trends. Do quick searches to find out what topics are hot on the internet. Even if your idea is already obvious, you’ll still want to think about how you will “spin” or market the ebook. Often, books and/or ebooks are already available on the subject. Like any business marketing plan, your job is to find your unique offering. In simple terms: what sets you apart? That’s your selling point.
2. Outline the book
I strongly recommend writing an outline for your book right away. Even though I don’t always advise my writing students use outlines, I believe they are absolutely essential for writing a book. This will likely be your first big writing project. You’re going to need a plan for getting from page 1 to page 100. Trust me, it’s too easy to get lost along the way.
Your outline doesn’t need to be too involved early on. Start with simple chapter titles followed by a handful of important points to be covered. Some will be fine with this kind of skeleton guide, while others will need more detail and supporting points. In my experience, the more the better. When your mental energy is low and you’re in the middle of a writing session, a detailed outline can be just the thing to put you back on track. I also enjoy having the option of jumping from chapter 2 on Tuesday to chapter 7 on Wednesday.
3. Write & edit each chapter, one at a time
When you start writing a chapter, don’t start until you finish at least a solid rough draft. Once that’s complete, move on to another chapter before beginning your editing process. It’s beneficial to allow for some time between writing and editing, at least 24 hours. Also, allow plenty of time for editing. When I teach writing courses, I always remind students that the best writers spend 50% of their total writing process time on revisions. Remember: you’ll only write words once, but you’ll edit them many times over before the work is complete.
4. Develop ancillary materials
While you’re writing the book, jot down ideas about how you’ll supplement the content with other materials. But don’t actually write these materials until you’re finished with the book – and I mean finished. The “Table of Contents” is one example of a document supplement you’ll want to create. If you try to throw the TOC together before you’re actually finished… well, you get the idea.
5. Create appropriate bonus items
Other supplements might include the crucial “bonus items” that act as the supporting actors to your ebook star. I believe ebook sales are greatly supported by the infamous “bonus items” awarded to online buyers. Throwing in an extra ebook on another subject is a classic approach to stuffing the sale. You might also throw in mentorship emails or other exclusive access to the author. The best bonus items will be those that sweeten the pot without distracting the buyer from the featured product.
In tomorrow’s post, I’ll look at the final five steps. Here’s a preview:
6. Format the book layout
7. Design a book cover
8. Setup a merchant account
9. Write and publish a sales page
10. Develop and execute a marketing plan
Click here to read Part 2 of this series.
Tags: ebooks | write ebooks | info products
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Jul
27
Keeping a Business Journal
Filed Under Goal Setting, Time Management | 4 Comments
Recently, I noticed that my personal journal was not personal anymore. My “entrepreneurial mind” was invading my everyday mind. A quick read through my journal showed more numbers, tables, and projections than the typical thoughts or reflections. That’s when it occurred to me: I should start a business journal.
Two seconds later, I did just that. Once I had created the new Word file and started writing my first entry, I realized how valuable the new journal would be.
Before the business journal, I would write down random thoughts and ideas wherever and whenever possible. At the end of the day, my desk was covered in little notes and napkins. The “idea mess” was so overwhelming I would often push everything into a growing pile and insist that I focus on the task at hand. I started to worry that some of these great ideas would be lost and thus began compulsively recreating the list everyday in different forms. It can be reassuring to know that you have limitless possibilities; it can also be exhausting.
Now, I’m tracking all of these scattered thoughts in one place. Anytime something comes to me, I can flip open the file and type away. If it’s something I’ve thought of before, I can search through for a previous entry and add the new notes. Being the compulsive writer I am, I’ve also created a new space to write about my hopes, fears, and dreams (business-related, that is J). Sure, there’s still a mess: sometimes I just don’t have access to the computer or it’s simply more convenient to scratch out some notes on a napkin. Even in those cases, I can add the notes to the file later and send those tattered napkins to the trash!
Tags: business journal | business | business writing
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Jul
26
Creating Passive Streams of Income
Filed Under Information Products, Online Business Ideas | 3 Comments
If you’re like most people, you invest time for money. In fact, I can think of very few ways anyone could generate a positive income flow without investing at least some amount of time. Even purchasing a lottery ticket and hitting the jackpot requires intention, effort, and time (although very little of each).
The typical job is a time-based cash machine. You work for $10/hour and get $80 at the end of the day. During that period, your employer owns you and your talents. Sure, there are some limitations to what the boss might ask you to do. But your time is still tied up with your paycheck.
Types of Passive Streams
One of the great benefits of developing an internet business is the possibility of disconnecting time from income. You can find countless systems and approaches to making money via the web if you do your homework. Consider the following list for some ideas that might mesh well with your personal talents:
- Blogging: generate lots of traffic to earn cash with AdSense or other pay-for-click ads
- Subscription Site: collect monthly fees for exclusive content
- Programming: Develop software, web applications, or similar products
- Info Products: Sell information (ebooks, eclasses, etc.)
I have listed these examples in order (top-down) from highest to lowest time-investment required. Blogging, for example, requires daily effort, while info products like ebooks can be easily automated with little maintenance. Of course, these are only general guidelines and some exceptions do apply.
Why Create Passive Streams?
You will have your own reasons for making income passive, but it’s important to identify those reasons right away. If you don’t know why you’re doing something, you’re less likely to do it. On the other hand, if you spend time thinking about your intention, you’ll become more motivated to achieve your goals.
Passive income is not unlike an investment in which your money “works” for you. This metaphor is often applied to savings accounts and stock markets, but it’s useful for thinking about passive income too. Spend 3 hours per day writing an ebook for one month, and you’ll have invested 90 hours of time. You may not see a handsome return on the time-investment at first, but in time your earnings per hour will continue to rise with each copy sold.
I use the plural streams here because while that book is working for you, more time is now available to work on that next book. So on and so forth. Once you have multiple streams working at once, you can rest assured that your investments are appropriately diversified (yet another investment term).
It is true that you can’t get something for nothing. Creating the products will require some of your time. But as with the stock market, the more you invest now, the more your return will be later.
Tags: passive income | internet business | info products
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