I think I know the right plan of attack for you to form a residual income..
Actually, it is similar to something I am working on.. But, mine relates to what I am doing here.. Training people to sell on eBay and the internet in general.
There are MANY ideas I can conceive for woodworking that go in many directions, but you mentioned you are looking for something that will make you money when you are not working.. So..
I am thinking you want to setup a website, a website that requires a membership to get into and then you sell online memberships to your website, where you would charge them maybe $5 bucks a month to use your website..
The idea would be you would tell all on how to do woodworking. You would need dynamic content, content that would be updating regularly to keep
people coming back or "atleast" having a reason for wanting to come back later and continue to pay you $5 bucks a month.. See what I mean?
The idea is as you are getting memberships, you are basically building a regular revenue a month.. So, if you added 10 people a month, you would increase your monthly income $50 bucks a month.. Or, if you added 30 people a month, you would be increasing your monthly income by $150 bucks a month.
So, lets say it was 30.. The third month you would already be at $450 a month coming in..
Of course, after a while, you will reach a peak where those coming in is the same as those canceling.. You want to obviously get as many to stay as possible..
This is just ONE idea..
Now, to bring in people to your website, you would need to use something like
Google Adwords.. Just goto www.google.com
and type in Google Adwords..
If you never used it, you would have to learn it.. Its not necessarily easy to learn, but I can tell you from using it, the ideal business is a subscription business like this..
If you want to just sell one item at a time, rather than subscriptions, eBay is the ticket.. EBay is king for just selling items, in general.
You could, of course, start some business relating to woodcrafting on eBay. There are MANY ways to do this, but I think the above is a better residual income method and probably a little easier and less work..
You will have to be patient, though, with the membership subscription website development, as there is some complexity.. But, in the end, you could be making good money doing
little at all. Maybe adding a bit of content here and there to your website.. Very good way to have income from essentially nothing.. Complex to build up good, but in the end, excellent..
What do you think?
KEVIN KOOP <firstname.lastname@example.org> wrote:
I hope (and pray) that my decision to buy your “program” was a wise one. I too, am a Christian and a lot of my buying decisionfiltered= ) Before I really get going… please note that I don’t have any current interest in the whole drop-shipping thing. My name is Kevin Koop. My wife, Christi, and I have been buying and selling on ebay for over six years (under username jeepchick00 ). It’s just been a hobby, but one we’ve really enjoyed. My wife owns her own, home-based business, a Graphic Design and advertising company. She specializes in Design for Packaging and Print Advertising but also does some website design (www.k2graphix.com). The home-based business is awesome as it allows my wife to stay home with our 3 1/2 year old daughter, Sydnee. I am 38 years old and am a Custom Cabinetmaker and Finish
Carpenter in Southern California. I have an informal partnership with a friend who’s been in this business for over 15 years. We produce “Upper Mid” to “High-End” cabinetry for the residential market. Our “average” cost for Kitchen Cabinetry is $30,000 and our last job was a large upper-end kitchen which sold for $64,000. We both do alright financially, but the hours involved are too much and the work is quite rigorous. I don’t mind the “heavy-lifting” but my partner is going on 50 and I can see it’s becoming harder on him. I want to position myself differently so I don’t have to be turning out two kitchens a month when I’m 50!!! Anyway, I’ve always been a fan of residual income and decided to investigate what avenues were of interest to me. I decided I’d like to write a
series of How-To eBooks marketed to the “weekend-warrior” woodworker. This market is huge but I haven’t found many products available in the eBook format. I’ve started writing and developing a game plan but find it hard to get a lot done because of my current obligations. I took a partial-leap and informed my partner that as of June, 2006 I would only be willing to work three days a week. He’s not the happiest camper but he’s done this business all by himself before so to get my help three days a week is better than that. I am hoping that you can show me how to sell existing eBook materials on eBay (as Automatically as possible). I don’t need to make a killing. It would be nice if I could bring in $1,000 to $2,000 a month to carry me through while I continue to develop my own eBook products. I started a new eBay name, cabinetguyonline, less than a month ago to prepare for selling my own eBooks. Here’s some bullet points of my eBay experience:
- Buying and Selling experience of over six years (100% positive feedback on both usernames)
- I have sold regular auctions, fixed-price auctions and dutch auctions
- Quality digital photography and cleanup with Photoshop and Imageready
- User of PayPal to send as well as receive funds
- Packaging and shipping of items via USPS, UPS and Fedex Ground
All of our eBay experience is pretty much “old school.” I take the photos, Photoshop them, Place the listings, write the text, code the html, answer the emails, package and ship the items. Not that I haven’t made some money, but it’s more labor intensive than money making. Questions I have in General:
- Do I need a “Store” now or is this something that can wait?
- I see there are three store types… is the “Basic Store” acceptable or does the “Featured Store” really make more
than the $35 a month difference?
- What are Selling Manager, Selling Manager Pro and Reports Plus and do you use these?
- I saw something on eBay’s site relative to Stores and
it said, “get 75% of Final Value fees back on qualifying traffic.”
Do you get this 75% back and what is “Qualifying traffic?”
- What does it really mean to be a Powerseller? I’ve looked and haven’t been able to find out exactly what this means.
I’ve seen eBayers with very large feedback ratings who are not Powersellers and I’ve seen eBayers with much
smaller ratings that are Powersellers.
- Should I start a new eBay name to sell generic eBooks in and save my “cabinetguyonline” name for my future products?
Or do you think it won’t matter?
Questions specific to you and the eBook business: Can you run down for me (please) what formula you were using when you were selling eBooks. What I mean is… Were you listing the auctions yourself or was some software or service doing this? Were you mainly using the auction format or fixed-price selling? Once they paid, say thru PayPal, were you using eBay’s digitial delivery or were you using the “My DD” software you mentioned on
your site? If using the “My DD” software, how user-friendly is it? Can I be up and running rather quickly - given my advanced intellect = ) .
After the book was downloaded to the customer’s email address I assume you were using Merlin Software’s Instant Feedback, weren’t you? Is the info on Outlook rules the only “Autoresponse” stuff you were doing with email or was there something else? Have I missed anything along the “signal path?” --SORRY THIS IS SO LONG BUT I HOPE YOU UNDERSTAND— One more thing (for now)… I looked up your available auctions and didn’t find any eBooks (in your store at least). Can you please point me to a current eBay auction for an eBook that follows your
formula. I’d be more than happy to throw some more money your way or the way of a students, if I can go through the whole process from the point of a buyer. I’ve bought other eBooks on eBay with spotty success. Some have come in wacky, non-PDF formats, and several times I’ve had problems downloading via eBay’s digital delivery system. Thanks and may Our God Bless you,