As you can see from the last few posts I’m really back on the authoring side of putting your life-knowledge to work. And books, on paper or on-screen are always going to be a big part of the equation. But eBooks are not everyone’s cup of tea … to write, to market or to read. Here’s 7 way you can change your knowledge to profit, online with little or no investment … and not an eBook among them. Take the next 7 days and explore these ideas … don’t throw any of them away just because they might seem unfamiliar … they are all something the majority of retired folk I know can do and do well.
1. Special Reports:
Write a highly focused document used to address one specific topic. An example for a former loan officer might be the top ten strategies for approval … for a trucker, top ten ways to get more miles per day legally … you get the idea. Provide your readers with essential information they want or need right away. Range from a few pages to 20 pages or more. Typically sell in the range of $5 to $25 or more depending on value of the information. easily sold online or laser-printed on demand and sent by mail.
We have just started to see use of electronic courses on the Internet. Many are still offered for free to draw prospects to product sites or for online branding purposes. However, there is no reason why a detailed 6 or 7-part e-course could not be sold for $10-$50 – similar content to an eBook, but delivered in parts right to the inbox of your customers. The difference, of course is, instead of just a document to read you would provide coaching, gradingor evaluation service along with the printed material. How many retired teachers/technical instructors are there out there who could do this and do it well? See also www.teachingsells.com
30-minute to 2-hour, or in some cases longer, seminars that you charge to provide customers your knowledge on particular topics. Range in price from free to several hundred dollars. You can learn a lot about the nitty-gritty of doing this (aff) here. With today’s online VOIP and conferencing services the mechanics of this are trivially easy. Most successful folks in this “space” offer “free taste” intro seminars which lead naturally to a paid follow-on course. Unlike print advertising, mailing brochures, etc., the “no buy” folks who don’t convert to sales basically cost you nothing. There’s a follow-on market for audio recordings and/or print transcripts that can be met via online sources … all “back end”, follow-on profit. You’ll likely be seeing a lot more about this medium, because I really think it’s something folks can sink their teeth into from day one … and they don’t need to learn all that SEO, landing pages, ranks of this and that hoopla to get going.
4. Audio Interviews:
One of the key disadvantages of eBooks, newsletter, special reports, etc… is that they are non-interactive. Many people learn better by hearing examples, discovering information in an interactive setting. Get someone to interview you about your topic and record it. You can record the interview over the phone, in person or by using a third-party conference service. Once again, you can offer your information via recorded interview for a premium over what you would charge in eBook format. And do not forget the back end here also … so many folks who are doing this sort of work forget, or never get ’round to producing transcripts … which is something you can outsource and become pure profit … or mail-out CD’s for people who don’t want to download. You may only sell a few, but there are companies who produce these on demand and the profit margin is up to you.
5. For-pay Newsletters:
If you have experience, knowledge, contacts, or any other constant value you can add to a specific target market, then a for-pay newsletter can be an excellent source of income. Many established newsletter publishers – even those with just a few thousand subscribers, are converting to a beefier “for-pay” model. Even if they only convert 500 to subscribers at $47/year, that’s $23,500 revenue PLUS the ability to market products to that group AND collect renewals over the years. One example of a top quality, for-pay newsletter is written by a fellow I’ve mentioned before, John T. Reed. Mr. Reed has a lifetime of experience in real estate … most people reading this have a lifetime of experience in something *smile* and he is well educated and writes well … but he’s no Donald Trump nor John Grisham. Yet he’s been selling a monthly newsletter on real estate (I have no affiliation with John Reed) for something like 22 years now, for $125 a year … do the math.
6. Pay Members-Only Web Site:
An alternative to a “for pay” newsletter is a “for pay” private website. Here you can provide various forms of content and services to your customers in exchange for a monthly, quarterly or yearly membership fee. What would you provide as content? Here are some examples:
- Articles you write
- Results of research you conduct periodically
- Survey results
- News updates from various sources
- Case studies or success stories
And many more indeed. How would you get people to such a private, fee-based community? Well that depends on your area of expertise. A great example I recommend just from the aspect of computer knowledge is a site called Windows Secrets. (I have no affiliation with Windows secrets). The authors produce a “for free’ news letter and a “for pay” version which ads on extra content and certain consultative benefits. All they do is present what they know and research what they love.
Your topic may lend itself to conducting bi-weekly or monthly seminars to local audiences. Perhaps you have tips on how to purchase a new home – you could run targeted ads or partner with builders in your area to run a bi-weekly seminar in a rented room.
Maybe you were a manager of customer service in the travel industry – you could develop a seminar on top-rated customer support tips for the travel industry and market these to hotel operators, as well as other tourist companies. (Lord knows they need it!)
Were you a teacher? How about seminars on how to stay ahead of your child … how to know when your child’s homework isn’t up to par, when to slack off, when to be tough, when and what to ask the child’s teacher for help on.
Did you work in a bank? How to get your banking business done fater, 10 things never to say on a loan application, 10 things that will convince the banker to cut your interest rate, why you should (or shouldn’t) have your current accounts and CD’s with the same bank … the list goes on, doesn’t it?
OK, I’m done, I feel like a school tacher today. You have your assignments, boys and girls. Go forth and learn them well. Oh, and something I don’t recall saying for a while: Do Not Tell Me You Can’t Make Money Online!