Gain Leverage for Your Online Business by Re-Using Content~Leverage Your Home-Based Business by Re-Using Content}
According to Wikipedia, 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 second component of that definition is the most relevant for online companies.
Leverage is often discussed in either monetary or mechanistic terms, but it has a much broader applicability, including the world of online businesses.
So how shall we interpret “any influence” for our internet businesses?
One of the best ways for a home business to leverage our results is by re-using accessible 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 one one or more FAQs.
Financially, the benefit gained from leverage is typically described as a ratio of some type, for example, a debt-to-equity ratio. Such ratios are useful for bookkeepers, but that is not the audience I’m addressing here.
What advantage can we realize by leveraging our existing content? Consider the following simplistic example (no rocket science here): 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 .00. You have earned $50.00, but it took 10 hours of your time to earn that .00; effectively, you would have earned about $5 per hour (less than the current minimum wage) for your labor and made zero profit.
Assume, however, you take that same document (customized to remove any proprietary info) and offer it as an ebook via the Web for $19.95, and that you finally sell 100 copies of your new ebook. You have now earned $1995, and if you deduct the $50 to create the primary document minus another $5 to remove any customer/proprietary info, leaving you with a much larger profit of $1940.00.
This simple example demonstrates the leverage advantage, specifically the benefit resulting from re-using existing content.
Once we become aware of the concept of leverage, we discover many different applications to our online businesses. This article has addressed one of those ways. Further articles will discuss other ways that home businesses can improve ROI by using leverage.
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