Comments 5

Hey, thanks for the shout out. The point isn’t really that it “won’t crash”. It probably will. I see this as very much like the dot com bubble bursting. But the problem with a gold rush where there isn’t “literal gold” is that it’s stupid to just rush and rush to meet an opportunity if your stuff isn’t ready for prime time. Because putting out crap or throwing together a sloppy business plan built on sand is not sane business. Most of the dot coms failed because they had stupid business plans that didn’t make sense and they were all just rushing stuff out trying to “get in now and get rich quick while the opportunity is still here”. But that’s SO silly.

The thing I was trying to point out is… we are “post dot come bubble burst”. And yet… the market stabilized and people started Internet businesses “the right way”, with a normal business plan and actual business sense and strategy and slow and steady and all that happy stuff, and those are the types of businesses that succeed over the long haul. No matter what the overall market is doing.

Someone mentioned I think on my blog about the housing bubble bursting and how the realtors who have survived and even continued to thrive are the BEST realtors. the goal should always be to “be the best”, not rush to take advantage of a temporary big opportunity. IMO. But people have this illustrated to them over and over with things like the internet bubble bursting and the housing bubble bursting, but they still don’t learn. Slow and steady and SMART wins the race. Not… OMG do it all NOW while the gold is still there. People are like lemmings.

Get rich quick never works. It doesn’t matter what the ‘opportunity’ is or isn’t. If you’ve got a great product (in this case books) and you work hard and you market it and get it out there, EVENTUALLY you will build a fan base. There is no rush/race to be at the top right now. Because many who are benefiting from this gold rush now are going to crash later… why? because as the market stabilizes, readers are going to expect higher quality for their money. The novelty will wear off and it won’t be good enough to just read on one of these wacky, new-fangled devices… but people are going to be more judicious with what they buy.

When THAT time comes, most of those who have rushed a lot of sloppy work out there are not going to be sitting pretty. Granted, some people can work very fast and the quality not suffer, but we all know a lot of people are rushing ebooks out to market before they are ready. Those are the people who are like the people who failed in the dotcom burst.

The smartest thing is to build a solid foundation for your business so your business can keep going when the boom turns to burst. Because it will. Nothing shoots up indefinitely.

As for publishing outside of the US, whether you go thorugh Amazon, Smashwords or wherever to get paid you need to get a US tax ID number, which is a HUGE pain in the ass to do. I haven’t made enough money to make it worth my effort. Yet

Thanks for the tip. I did a little research and yeah … it is doable, but looks like a royal pain in the ass.

Well, by the time I am actually ready to publish I hope Amazon has opened a Kindle Store and a Direct Publishing Platform over here as well, so I don’t have the hassle and can just publish through amazon.de.

Then again, it probably won’t solve this issue if I plan to make my work available in the US as well, even through Amazon.de 🙁

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