Monday, 13 March 2017

Make Money Whilst You Sleep



The technology that we engage with daily is rapidly changing. That is a given. Where will it lead though? Tomorrow’s World used to give us an insight. Things are moving so rapidly that by the time they had filmed an episode it was out of date. Obviously not but it feels like it with developments these days. 

One development that we are hurtling towards is digital media rather than physical products. Not a revolutionary insight but if you can adapt now then you can be ahead of the game if you embrace it.

MP3 Files

These devices are fairly new and can hold tens of thousands of songs. They are nearly obsolete though. We download music onto our computers or our phones. Or we purchase a device like an Amazon Echo. How ever we listen the ability to hold an incredible amount of audio content is now the norm. 

How does this relate to you? Are you an expert at what you do? Can you provide interesting content? Can you generate audio information in the form of a course?

If yes, then start jotting down some ideas on the sort of content you can create.

eBooks

I have to admit I am a purist. I love holding a book. I love browsing book shops and perusing the covers and reading the sleeve notes. That said, there is an environmental costs that I find uncomfortable. So I own a Kindle. It has 700+ books on it. I never run out of anything to read. When I have to sit anywhere for a long time I am not wondering what will I do when I finish the book I am reading. Now I select a new one. It means I no longer read the 1974 Caravan Monthly in the waiting room. Hey ho. 

Again, are you an expert in your field? Can you create interesting reference books? A book of useful information?

If yes, then please start thinking about the sort of books you can write.

eCourses

These are the above ideas but set up on downloadable or as weekly email courses. They are automated sending of information. Think of the sort of content you can create and perhaps how it should be separated into weekly parts.

The above media will not enable everyone to utilise it. The main reason I like them is: a physical product can be sold once only but a downloadable product can be sold over and over. The only real cost on these sorts of products is your time. So any you sell are virtually profit. 

Example:

A physical book can be sold and will generate approximately £5-£20 profit, depending on content and physical attributes.
An eBook can be downloaded 1 million+ times in a year and is virtually pure profit.

Now before the sound of the till ringing in your ears gets too much reacting to this post will NOT turn you all into millionaires. It shows the potential of what you can do though. One other advantage is if you released a book in the UK it can be sold in the UK. If you upload on eBook it opens you up to a worldwide audience. 

If you create digital media it is an automated service. It can be sold 24 hours per day, 7 days per week and 52 weeks of the year. As it is automated once you have set it up there is little for you to do. 

We all see these ‘schemes’ that offer money while you sleep or make a fortune. Most are based on having a digital product available. They offer the product for a significant sum of money on the basis that the information is invaluable. You can do the same but offering your product for a modest sum. You will not necessarily bring in thousands each month. There is no reason why you cannot make money though. As it is automated you can get back to what you do best.

Can you make money whilst you sleep?

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