When you think about writing a book to publish on Kindle or to put online to sell, how big of a task do you imagine it to be?
The very notion of “writing a book” seemed overwhelming to me when I first started researching ways to make money on the internet.
I had visions of spending long days hunched over the keyboard trying to finish my 50,000 word book and didn’t even have a plan on how I was going to promote the thing.
I now have dozens of information products online (both Kindle books and ebooks in PDF format) each of which I completed in one sitting.
The reason I am now able to put new products out every week is because I have a system. It’s a process I follow each and every time that works.
Over the next few posts I would like to share an overview of this system with you. I want to show you that it really isn’t that complicated and that you don’t need to be a prolific writer, researcher or marketer to be able to do it yourself.
My whole business model is built around writing S.M.A.L.L. reports.
Let’s take a look at what each letter of the word SMALL represents:
S – SELECT a viable market.
M – MEASURE interest.
A – AUTHOR a report.
L – LOOK to repeat.
L – LEVERAGE your assets.
Today we’re going to start at the beginning with the first “S” in the system.
Step 1 – SELECT A Market
The very first thing you want to do before getting into writing your small book or report is to identify a market – or target audience.
What does this mean exactly?
“A specific group of consumers at which a company aims its products and services.”
A few examples of some of the more popular markets include
- Weight loss
- Self help
There are literally thousands of potential target markets out there but the important thing is to focus on one of them and to think about your target market as a long-term proposition.
What do I mean by this?
Well, you aren’t going to write just one small book or report for your market. What you are trying to identify is a group of people who will look to buy multiple products from you. Instead of writing an ebook on how to raise Dwarf Winter White Russian Hamsters and getting one sale, you want to focus more on markets that have the potential for multiple sales.
For example, a small book on 7 Ways to Take 7 Strokes Off Your Golf Game leaves the door open for dozens of related reports. If you’ve done your job well and written a valuable product for your market (and I’ll show you how later), they will inevitably be more comfortable with purchasing future products from you.
Does that make sense?
It is key to building a profitable and sustainable business on the internet that will stand the test of time.
Let me state it again.
You want to identify markets that contain people who will make repeat purchases from you over an extended period.
A lot of people think that the key to success online is finding a red-hot niche within a niche that is full of desperate and hungry buyers and creating a product to sell to them. They will then spend hundreds (if not thousands) of dollars on pay-per-click advertising to promote their product before moving on to the next product.
It seems to make sense on the surface. Rinse and repeat right?
You may have heard the saying “it’s easier to keep an old customer than it is to gain a new one”?
This is 100% accurate and it’s critical to building a business with actual growth potential. If you keep finding new niches and building products, you’re constantly making work for yourself.
By finding a solid market in the beginning with the potential for repeat sales, you’re setting yourself up for success early.
Next time we’ll talk about the second phase of the system which is all about measuring interest in your potential market.
Spread the word
Get free updates