Sergey
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- Joined
- Dec 9, 2013
- Messages
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Hi guys!
I've been reading through these forums and have found them to be tremendously helpful. However, I can't quite agree that writing your own books is "fastlane".
Why?
Well, if you leave your business, then it tanks. Unless you're a top-selling author (which from my understanding is really difficult), then you have to be associated with the business for it to succeed.
Does that mean that self-publishing is bad?
No, but I do think that it's only good until a certain profit threshold. Once your time begins being worth above a certain $ amount, then it's not worth your time investing in writing, and hence with your current model the business will start to decline and die.
So what am I trying?
I'm trying self-publishing without actually writing my own content. Each book I publish is a $ investment and should be seen as a $ investment.
Here's my process:
1. Find a book that has a lot of buyers.
2. Calculate profitability of a rewrite; if profitable then continue, otherwise scrap.
3. Pay for a rewrite (make sure it doesn't violate any copyright laws)
4. Personally create cover page, excerpt, marketing, etc.
5. Publish
After that, it's a matter of waiting to see whether or not the process is profitable. If it is, then I will scale from there.
My budget for testing this idea is currently $2k. After that $2k is gone, I'll quit. But until it's gone I'll keep going.
My goals: $50k in profit from having other people write books for me, everything outsourced (including marketing), creating pure fastlane residual income. All I do is create a list of books to be rewritten.
....
I'll try to update later with what I've done so far. I already have one book that I wrote personally to get a feel for the market. As of now it's on track to do about $2,500 in revenue this year. Cost to create that book would have been around $900.
I've been reading through these forums and have found them to be tremendously helpful. However, I can't quite agree that writing your own books is "fastlane".
Why?
Well, if you leave your business, then it tanks. Unless you're a top-selling author (which from my understanding is really difficult), then you have to be associated with the business for it to succeed.
Does that mean that self-publishing is bad?
No, but I do think that it's only good until a certain profit threshold. Once your time begins being worth above a certain $ amount, then it's not worth your time investing in writing, and hence with your current model the business will start to decline and die.
So what am I trying?
I'm trying self-publishing without actually writing my own content. Each book I publish is a $ investment and should be seen as a $ investment.
Here's my process:
1. Find a book that has a lot of buyers.
2. Calculate profitability of a rewrite; if profitable then continue, otherwise scrap.
3. Pay for a rewrite (make sure it doesn't violate any copyright laws)
4. Personally create cover page, excerpt, marketing, etc.
5. Publish
After that, it's a matter of waiting to see whether or not the process is profitable. If it is, then I will scale from there.
My budget for testing this idea is currently $2k. After that $2k is gone, I'll quit. But until it's gone I'll keep going.
My goals: $50k in profit from having other people write books for me, everything outsourced (including marketing), creating pure fastlane residual income. All I do is create a list of books to be rewritten.
....
I'll try to update later with what I've done so far. I already have one book that I wrote personally to get a feel for the market. As of now it's on track to do about $2,500 in revenue this year. Cost to create that book would have been around $900.
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