Using information products to boost your bottom line

How can information products boost your business’s bottom line?

People like to pretend that you can write a book and make passive income from it. 

You can’t. 

How to Creating Classes and Information Products

If you write a book and stick it up on Amazon and never do anything to promote or market it, you’re not going to sell any copies. Okay, you might sell three or four to people who have accidentally stumbled onto it but twelve dollars in royalties hardly repays how long it takes to write a book (even a short book).

So I’m not going to say that you can make money while you sleep!!! by writing a book. But I do think ebooks (and similar information products, like a white paper or collection of templates) can help improve your bottom line.

A couple of years ago I wrote The Club Ed Guide to Running a Profitable Freelance Editing Business because the #1 question I get asked is some form of “So, how do you run a profitable freelance editing business?” And instead of answering this question over and over or (more often) not answering this question at all, I just started sending people the link.

I had written about running a freelance business for my blog and for other reasons, so while writing the book certainly took time, it wasn’t as if I started from scratch. I took all of the previously written material and piled it together and shaped it into a coherent narrative. It took probably four weeks of fairly focused effort, plus some time revising after a few beta readers got their hands on it.

I don’t do a lot to market this book, though you can find it on the Club Ed website, and as a result, I don’t make a ton of money in royalties from it. But it has boosted my bottom line considerably because people who read the book take my classes. And that is where I make most of my income.

If someone has heard of Club Ed, but they’re not sure they want to take a class, they can buy the book for ten bucks and find out if they think I have anything to say that they want to listen to. It’s a minimal investment, but once they’ve made it, they’re highly likely to purchase a class from me.

If you’re trying to book more editing clients, some kind of information product (doesn’t have to be a book) that requires a small financial investment on the client’s part can convert more potential clients into actual clients. It gives them a chance to get to know your approach and to decide whether they trust you before they spring for a bigger-ticket item.


Other Helpful Content

  • Query Letter Basics

    Both editors and authors need to learn query letter basics to help with the best possible chance of book publication. Query Letter Basics For Editors & Authors If your author-client is interested in trying to have their novel published by a traditional publisher, you may be asked to look at the author’s query letter (also…

    Read more…

  • Keys to Effective Manuscript Assessment

    Here are my top tips for an effective manuscript assessment without having to read the entire manuscript to provide a quote. Use these questions to help you assess a manuscript in order to provide an editing quote—without having to read the entire manuscript first. In general, a developmental editor may be able to edit five-to-ten…

    Read more…

  • Editorial Terms and Their Meanings

    Here’s a rundown of basic editorial terms and their meanings to help you understand editing terminology. When I talk about the author’s work of addressing areas of concern, I call it revision to distinguish it from what an editor does, which is editing. Most people writing and speaking on the subject don’t distinguish between the two but since…

    Read more…

Join the Club!

how to become an editor

New to story editing? Begin at the beginning.

Similar Posts