Remember the parable where the master left his 3 servants money. The 2 servants invested the money and were rewarded. The 3rd servant buried the money and was punished. The moral of the story – money begets money. If you invest money, it will grow. Bury it and it will remain the same as the day you buried it; worse, depending on when you dig the money out its value may have depreciated by then. So what do you do with hard earned income from your eBooks? Here are 5 profitable ways to make your money tree grow:
1. Invest in equipment. Allocate a portion of your earnings to upgrading or investing in a spanking new pc; or maybe a laptop that will make you more mobile.
2. Increase production. The more eBooks you sell, the higher your earnings. Start outsourcing, hire talented writers that charge cheap rates but produce quality work. Or get a publishing deal, if you can afford it by now, and ink an exclusive contract to release a high profile book or author.
3. Diversify. If you used to offer strictly text eBooks, why not offer eBooks with audio. If your eBooks previously did not offer graphics or visuals, now would be the time to create one. If your eBooks were only published in black and white, with the advent of picture eBooks, you might want to start offering colored eBooks.
4. A logical consequence of diversifying is expanding your target market. By offering a broader range of products, you increase the number and types of people your products appeal to. A bigger market means bigger sales, hence greater profits.
5. Ever notice that market leaders like Pepsi and Pantene never let up with advertising no matter how ahead they are of the game? That is because contrary to popular belief, absence makes the heart forget so advertise, advertise, advertise!
Do you want to learn more about how I do it? I have just completed my brand new guide to article marketing success, ‘Your Article Writing and Promotion Guide‘
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