The $40 Challenge - Money Making Idea:
Write & Sell an E-book

(For background on this money making idea challenge, please visit: The $40 Challenge)

The Idea

Take a topic in which you are an expert or have some experience, write it up and publish it as an E-book. Set up a website for downloads and receive payments through Paypal.

Poster: LeHayes
Initial cost: $0
Initial time: Writing book - 50 hours (I'm guessing); Setting up Paypal to accept payments 2hrs.

Results:
Income: $500 in two months
Costs: $5 (approximating: hosting fees and E-bay/Paypal commission).

Modifications:
After a while, people expect their information to become free so sales dried up. Write a new book and if your first was good, you might stand a good chance of getting repeat sales.

Total amount made: $500
Residual potential: If you automate the order and delivery system (all electronic), this can go on for a very long time with little or no effort on your part. $100/month upwards.

This is a very good idea for anyone that have built up years of experience in a specific field because it allows you to leverage (a Rich Dad buzz word) your knowledge into a potential income stream. Think about the areas where you have experience or something that you are passionate about and think if there might be someone out there that might be willing to pay for that information on that topic. Spend some time putting it all together, and there you have a product, and with the internet, you can automate the process and earn money while you sleep with this good money making idea.

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