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Michael Simmons
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eBook Business Model
August 21, 2003 - 09:16 AM
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I'm a NYU student entrepreneur and I recently self-published a book called "The Student Success Manifesto: How to Create a Life of Passion, Purpose, and Prosperity".
I published it in ebook and paperback editions. Right now, I'm testing the idea of giving the ebook away for free. It can be downloaded for free at http://successmanifesto.com/download/. My questions are:
1. Would or do you read ebooks? Why or why not?
2. Would reading an ebook make you more likely to buy a paperback version of the book?
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Evan Carmichael
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Re: eBook Business Model
August 21, 2003 - 10:38 AM
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Michael - great subject!
I have recently been exposed to e-books through a fellow TIG member - he hooked me on to Seth Godin's Bootstrapper's Bible. He printed it out for me and it was a great read!
I like the idea of e-books although having read this one, I'm not sure I would be inclined to purchase the paperback version of it. I have a printed copy now and if I wanted to let someone else know, I would e-mail them the file or the link. What it does allow you to do, however, is collect names and e-mails of people who download your free book. This will give you a community of people to introduce your product on a no risk basis - once they see how great your book is, chances are they'll be willing to buy your future e-books which you can charge for.
If you only have the one product, I don't suggest giving it away for free unless you have something else coming through the pipeline.
I hope this helps - I'll check out your site!
Evan.
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Michael Simmons
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Re: eBook Business Model
August 21, 2003 - 11:34 AM
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On my ebook I'm not allowing people to print. So I'm banking on printed words being appealing enough that people would be willing to buy it to have an easier read and just to have it. This worked really well for Seth Godin's Idea Virus (http://www.ideavirus.com). It became a best-selling ebook and then he did very well with the paperback and hardback editions because he had an audience who loved his work.
I also think it has potential to generate a lot of word-of-mouth because...
1. It has value attached to it (most books cost money).
2. It is easy and free to pass along.
Michael Simmons, Author
The Student Success Manifesto
http://ww.successmanifesto.com
----------------------------------
How to Create a Life of
Passion, Purpose, & Prosperity
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Get my updates through my blog at
http://successmanifesto.com/michael/
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Evan Carmichael
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Re: eBook Business Model
August 22, 2003 - 07:41 AM
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Michael - looks great!
If Seth Godin could make it work then it's a great strategy to try! The best way to achieve success is to follow the success strategies of people who have already made it!
So you've copied his model - now the next question is how did he get people to come to his site and download the book - how did he generate awareness for his ebook? You are on your way!
Evan.
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Dave Kristula
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Re: eBook Business Model
August 22, 2003 - 08:04 AM
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Michael,
Just to give you a little bit of notice on e-books. It really depends how digital your audience is. I released my first book, "The Crumpled Note : a teenager's battle with cancer" about a year ago, and we only sold 50 e-book copies.
We took it to CafePress today, and we'll see how it does in the month, but I suspect it'll do at least 20 times better in paperback.
I actually don't like to read books more than 20 pages on a computer screen. I even print out short papers. 
Dave
The Cancer Game - http://www.cancergame.org/
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Faddy
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E Book
August 22, 2003 - 09:16 AM
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See,
It is feasible to market e book. What you need to do is to think on the target group, who actually prefer or used to it. Secondly, the subject onwhich the book is. This is an important point to be considered.
If you are able to find the solution of these two problems then you are through.
What I feel is that, we can not replace the paperback because the feel one get by holding a hard copy in the hand is different from reading it on the computer screan. Having a book on the bed, on the tea table, on sea shore, any where give a feeling of presence that one can not have with a PC.
Well I feel it feasible since it is a digital era.
Go ahead
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Michael Simmons
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Re: eBook Business Model
August 22, 2003 - 09:26 AM
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I have a similar take. I've only sold 25 copies of the ebook I published in April. However, since publishing a paperback (http://www.successmanifesto.com/aboutmanifesto.html) version in July, I've sold 150 copies with a tentative 1,000+ book order coming in soon.
When I first published the ebook I thought that paperbacks had very little value. Now, I can see that they're extremely important for large orders, gifts, speaking engagements, etc. I now believe that paperbacks and ebooks are synergistic and will be testing this in the next few weeks with a marketing campaign at NYU (my school). I hope that I'm right or else I've given away a lot of free ebooks for no sales.
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