Self-Publishing Cash Machine


Part I

The Success Margin

Tuesday, February 21, 2006

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Does the possibility of achieving fame, fortune
and immortality appeal to you?

Just one business opportunity can make all these
dreams come true.

Self-publishing.

In fact, the best business to be in today is self-
publishing in my view. Especially with the
advent of the Internet.

Here are some of the main reasons:

1. Worldwide market. People everywhere are
interested in expanding their knowledge. And a
good book, CD, or DVD is an unbeatable
"delivery system."

2. Proprietary products. As a publisher, no one
can copy and rip off your products. Copyright
laws in nearly every country protect writers and
publishers. So, in a real sense you do not have
competition.

3. High profit margins. Especially with e-books,
e-zines and software that you can deliver via the
Internet. Customers are paying you for the
information content, not paper or any raw
material, etc. Therefore, you have zero cost of
goods sold.

4. Low overhead. Publishing makes ideal home-
based business. No expensive office is necessary.

5. No employees required. You can do much of
the work yourself. Whatever else you require--
such as editing, computer and Internet assistance,
graphics--you can hire independent contractors
to do.

6. Writing skills unnecessary. While some self-
publishers write their own material, others have
earned fortunes without writing a single word.

As a self-publisher, you can retain outside
writers and ghostwriters on both a fee or
royalty basis, or combination.

Actually, there are a surprising number of
experienced and capable writers available at all
times.

Plus, you can also buy rights to books and other
intellectual property authored by others (this
includes books, special reports, tapes and
software), and market them yourself.

The key to profitable products is, of course, how
effectively you direct market your product.

Let's examine some key direct marketing issues.
For simplicity sake, let's assume you are
publishing a book.

The secrets to massive self-publishing success are
knowing your market and how you develop your
prospect mailing list on the Internet.

Today I'm going to cover a basic self-publishing
success principle that I see violated daily.

Self-publishing, and all direct marketing success
online or offline, depends on the quality and
responsiveness of your mailing list.

People who know you and trust you are always
better prospects for new product offers than
complete strangers will ever be. Therefore, no
outside list will ever perform as well as your
own.

Clearly, since it's so important, you should
devote a large portion of your efforts building
the size and quality of your in-house list.

Two proven ways that I favor to build your
Internet list are:

1. Give away a free report, book, or CD

2. Sell a book, report or DVD/CD recording

The fastest way I as well as my clients have
found to build a responsive list is by giving
away valuable information or selling it at a low
price, i.e. $20 or less. Especially online.

Offering a free subscription to an e-zine
(newsletter) you publish can be another powerful
part of your strategy. Your e-zine should be
published at least once a month. But weekly or
biweekly can be even better. This enables you to
stay in touch with your market.

As to your first product, the initial question you
need to answer on your success path is this:

"What information do you possess or can acquire
that potential customers whose values you
understand would love to have?"

The second question is, "What keeps these people
awake at night?"

Once you answer these questions, simply put this
information together in the form of a product
(write it, record it or have it prepared). And
then make an offer where you give it away.

Assuming your product satisfies and hopefully
thrills your audience, the people who have it
will become your most valuable and responsive
list.

On an ongoing basis you can then make
continuous offers of follow-up (backend)
products. This is where the big money and
profits come from.

Please be aware. The key to long-term success
begins with the product you give away. To gain
the trust and confidence of your audience, this
lead product must be extremely useful. It must
be well-prepared. It must establish you as
someone with whom your audience wants to do
business.

** Choosing a hot topic **

What your potential customers hunger for, and
always will, is useful information.

To succeed in a big way, you need to find an
underserved niche and provide information that is
desperately wanted and needed.

One secret to finding profitable niches is to be as
specific as possible in your marketing. This
includes your domain names and product titles.

It's extremely tough to succeed if your target
market is too broad. Let's take the broad subject
of marketing for instance.

Unless you are a world renowned marketing
expert, it's tough to get anyone's attention. This
is far too broad in most cases.

Even if your target market is more defined--
cosmetics, jewelry, cars, vitamins, vacations,
home business opportunities, etc.--you literally
have hundreds, or perhaps thousands, of very
successful competitors already.

You increase your chance of success if you define
and narrow your niche market in such a way to
make yourself stand out.

For example, here are ways to further define your
niche:

-- Not real estate. Instead, condo marketing
-- Not books. Instead, cookbooks
-- Not cosmetics. Instead, anti-aging cosmetics
-- Not watches. Instead, antique Rolex watches
-- Not automobiles. Instead, classic Mercedes
engine parts
-- Not vitamins. Instead, cancer-fighting
vitamins
-- Not vacations. Instead, low-cost Caribbean
vacations

** Testing your topic(s) **

Once you select a target market about which you
are knowledgeable and passionate (you can't
succeed in any field unless you have passion for
it), you can begin doing market tests.

The next issue of The Success Margin will
include "Writing Tips that Work" and "Secrets of
Testing."

Dedicated to increasing your Success Margin,

Your correspondent,

Ted Nicholas

P.S. Click here for complete information on my best-selling
book, "How to Publish a Book and Sell a Million
Copies,"

© Copyright 2006 Ted Nicholas