I once bought the rights to an e-book for $200 because I liked the content and thought others would find it helpful. I’ve since made more than $50,000 selling that e-book over the years!
For the past couple of days I’ve been showing you how you can fund your life overseas using one of my cardinal business principles that “It’s more profitable to publish than it is to write.”
One of the fastest ways to publish is to find a book that’s already been published in one format…and then license it to publish in another format. For example, you can license a book that’s already in paperback and publish it as an e-book; or license a book that’s in another language and publish it in your language (or yet another language, again).
As the publisher, you get the lion’s share of the money, paying the author the standard 8% to 15% royalties based on your net sales—after they occur and you’ve collected the money. Or you can find situations where a one-time payment gets you the rights to publish.
With most print books published more than 10 years ago, the author’s contract didn’t include selling electronic rights to the publisher.
So the author is free to license those rights to you.
These authors are prime candidates for licensing. So are the authors who self-published their print books and don’t yet have a Kindle version up. (It’s usually because they don’t understand how simple it is to convert a print book to an e-book).
Prospects for licensing are everywhere. There are about 10 million print books at Amazon and just 3.5 million e-books. So that leaves about six million potential books that could be licensed to publish in the e-book format.
You’ll probably find prospects in your own library. I once read a very compelling self-help book and when I went searching for it in an e-book format I couldn’t find one.
So I sent an email to the author outlining what I’d like to do. She responded positively and we earned thousands of dollars a year during the term of our agreement. There are even websites where various rights in a wide range of genres are available.
Whether you publish a book from the public domain, hire a writer to write it or license an existing book, the rewards are almost unmatched. Unlike the big publishing houses in New York, your overhead will be surprisingly low or even non-existent. All you really need to run your business is an email address and a way to access the internet.
I’ve made some of my biggest “deals” sitting in an internet café sipping espresso or—later in the day—champagne.
The monthly royalties also makes it easier to enjoy marathon meals at some of the world’s best restaurants—like Florence’s Enoteca Pinchiorri, a perennial winner of three Michelin stars, where I enjoyed the most incredible 15-course tasting menu.
I’ve prepared a special presentation for you that will show you how you can earn a “portable” income from virtually anywhere in the world with e-books. Watch it here…
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