Leverage Your Home-Based Business by Re-Using Content
by admin on Jul.07, 2009, under General
According to the Wikipedia dictionary, leverage is “A force compounded by means of a lever rotating around a pivot” and “By extension, any influence which is compounded or used to gain an advantage.” The extension of that definition has the most applicability for affiliate businesses.
Leverage is often discussed in either economic or mechanical terms, but it has much broader application to a lot of contexts, including the world of online businesses.
So how can we interpret the term “any influence” for our affiliate income businesses?
One of the easiest and quickest ways for a home-based business to maximize our profits is by re-using available content. I’m sure you’ve seen the countless ebooks currently advertised on the internet – most of these are examples of re-using content, although some may have been originally written as ebooks, most originated as a single blog post, or a response to a customer email, perhaps even a collection of FAQs.
Financially, the leverage advantage is typically written as a ratio of some type; e.g.,, a debt-to-equity ratio. Such ratios are useful for accountants, but that is not the audience I’m addressing here.
How can we calculate the leverage advantage to be gained from re-using our existing content? Consider the following simplistic example: Assume that it takes you 10 hours to write a document for use with a single customer and then sell it to that customer for $50.00. You would have earned $50.00, but it took 10 hours of your time to earn that $50.00; in other words, you have earned about $5 per hour (less than the current minimum wage) for your effort but you would not have made any profit on that sale.
If, however, you take that same document (adapted to remove any non-generic) and offer it as an ebook on the internet for $19.95, and that you finally sell 100 copies of your published ebook. You have now earned $1995, and if you deduct the $50 it cost you to create the primary paper minus another $5 to remove any customer/proprietary info, leaving you with a much larger profit of $1940.00.
That’s the benefits of leverage, specifically the leverage obtained from re-using existing content.
Once we we’ve been introduced to the concept of leverage, we discover that there are many different ways to apply it to our home businesses. This article addressed only re-use of content, but there are many other ways. Other articles will discuss other ways that home-based businesses can apply other types of leverage.
If you like what you’ve just read, and would like to learn how to leverage your efforts, and become a millionaire – get the FREE Infinite Income Plan report and put your income on autopilot.
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