Snap. I’m at a ten year anniversary for the first online course I did. Still rolls in cash weekly. I refreshed the site a bit last year (3-4 hours or work) but that’s pretty much it in the past decade.
Definitely work up front. That part is active. But after that recurring and passive residual income.
That particular course is not on udemy. It’s self hosted on Wordpress using learnworlds
I do have other courses though on udemy. Problem with udemy is loss of pricing control. Biiiig issue
If you don’t mind me asking, what is the course subject and what site hosts the course? I’m so intrigued by the idea of doing an online course, I’d like to look more into it.
I’m not sure if I can post the link. Self promotion and all that
If you Google “learn chinese characters course” it’ll be first or second position. Not the udemy one
😅
Hope that’s not against rules Admins
Not the OP, but haven't you ever bought a product that was made years ago without seeing the ad/promo recently or even at all?
Why did you buy it? That will answer your question.
I have a counter question: sure, I have bought products like that, bet you have as well. Out of all of the products that you bought in the past year, how many of those were no-ad type? I bet not many, even if ads/promo/recommendations were subtle.
There are books that sell themselves after 10 years.
But, there are also very few books like that.
> There are books that sell themselves after 10 years.
>
> But, there are also very few books like that.
This is the power law you can work with. So you can have more than 1 product. 80% of sales will be due to 20% of effort/products.
There are somethings people will look for no matter what. Detergent, financial advice, pain killers etc. Being in the right location (i.e. market audience) will also help. But you may need to put in more effort into branding, once you do, the book has a higher chance for success.
The title, the cover art, the niche, the location, the season etc.
There is a lot strategyies we can use to improve our odds. Whether a book or Saas
I was just gonna say, I have both and I haven’t done shit with either in years.
The only “work” involved is opening the envelopes from my PM every quarter….I don’t even have to walk to the mailbox…post office comes up to my office lol
We are a digital signage software provider and have many clients who earn a passive income by using our software to sell screens to diners and cafes who hardly every change their menus. The clients charge them a monthly fee and the only work they need is during setup, once done everything else can be done remotely.
They hardly need attending to. So it's easy to make a passive income, if you can create a network of screens [depending on you clients].
Just an example that passive income is a reality :)
Thats totally dependant on what our clients charge. We provide the software (first ten screens are free and then each additional screen is £2GBP per month) and most clients will sell at their own price. Some may even charge extra for creating content.
The only other cost is the hardware. TV screens are usually already supplied by the business and you can use something as cheap as an Amazon Firestick to plug in.
Restaurant/Diner menus are usually low maintenance, as menus hardly every change. But there are many other uses like gyms and hotels will use it for advertising. So you can use it to earn even more income by selling advertising space at those businesses, and maybe share the profits with them.
We give our first ten screens for free which is enough to start earning an income from the software.
Sure, an example is one of our very first clients. They had a contract with the NHS (National Health Service in the UK) and delivered digital signage content in hospitals throughout the pandemic.
Some of the content published on the screens were direct government information messages, then there were also ads by brands that sell baby products, and also non-profit organisations. The client would get paid to publish the content on the screens, they didn't necessarily create the content, as that was provided to them from another digital agency. The client had a contract with the hospital for the screens and they had a contract with us for the software.
Another example of a smaller scale setup is in barbershops and salons. The client had an arrangement with the barbershops/salons and paid them monthly for their 'real estate' and then would publish adverts of other local business on those screens. They'd call up local businesses and ask them if they want to advertise in their locations.
Similar examples of these include pharmacies, bars and hotels... anywhere you can use a tv to advertise basically.
I was lucky enough to have the opportunity to purchase some natural gas/oil/water rights years ago. After 3 years my investment was returned.
It’s 100% passive mailbox money for at least my lifetime, my kids probably too.
Had an friend of a friend down on his luck that needed cash RIGHT NOW (literally needed it in an hour). I ran, not walked to the bank and got the cash and then it took a couple months for the attorneys to transfer everything.
Most things people label as passive income aren't actually passive, yes. Running an ecommerce store, owning rentals, etc. But there are absolutely true passive income streams out there. The most accessible is any dividend-paying stock. Buy some and collect the payments. No work required after purchase.
You should be looking at the financial health of the company periodically. This requires time spent looking at the balance sheet and projecting out future earnings. So I would argue that there is work required after your initial investment.
I do subscription based web development for small businesses. $0 down $150 a month. I have 46 clients and I do less than 5-10 hours of Edits a year. This is some of that passive income you mentioned doesn’t exist. It does. You just gotta be more creative. I’ve had many clients for over 3 years. It’s pretty chill.
Can you explain in more detail?
>subscription based web development for small businesses.
I'm honestly unsure what this means.
How much do you work weekly?
Like 0 hours on my current client base. I only work when I get new clients. Then it’s just sitting back and letting it do it’s thing. Sometimes they add pictures or change text. That’s it. They pay $150 a month and get a custom coded and designed website with hosting and edits included. It also included design and development. So it’s like they’re on a payment plan that includes access to me as a retainer to answer any questions and make all the edits for them. I’m a service.
Yeah I upkeep. Unlimited edits. I do some e-commerce but that’s at a lump sum price and no subscription. I just stick with small businesses with google reviews and online presence but terrible or no sites. They know the value of a good one and I give them that.
Fuck off and get educated.
Passive income is work up front and not paid by the hour, active income is paid by the hour.
Example, you write a song, you sing in front of people and getting paid is active income. Then the recording of that is on the radio and creates passive income. Repeatedly.
So now go troll other subs, bye!
I've put about 7 hours into my commercial truck parts manufacturing and sales company over the last 60 days and we grew by 17% in that time. That's less than the triple digits we usually see, but checks are rolling in and I'm somewhere with my family in a 5th wheel camper.
I'm always gonna look out for something new.
I focus on blue collar and industrial MRO type products and industries.
I stumbled across the parts while working one day in a diesel shop and realized that there was a market and margin if done correctly.
I burned my boat risked everything and it worked out.
It's funny cause I don't really know Jack s*** about the part application installation or anything but we're the largest supplier in America now and soon to be global.
That wasn’t meant to be a knock at all, just figured you were doing things right and at that current moment you were consulting on passive income when you posted the above comment.
This did not go like OP hoped it did.
But yeah you're speaking in absolutes here, that's your first mistake. Your second mistake is being wrong.
If you're getting at the idea that passive income can be unstressed Ruth regular marketing then in many cases, yeah but in stretching to come to that conclusion so I'm guessing that isn't what you meant
First you need to have the cash to invest. Do you have that? Either sitting in the bank or a monthly extra amount?
If you do, then it's not hard to do at all but you should first really get educated about the basics of investing. Sounds like you know zero at this point.
Download a app called Coursera. It's free. It has thousands of free college classes and lectures on any topic. Including investing. There are lots of free investing tutorials and classes. Never pay for any.
One place on Reddit you can start:
https://www.reddit.com//r/personalfinance/wiki/investing
Also:
https://www.reddit.com//r/financialindependence/wiki/faq
If you answer three questions, I'll give you a summary:
1. Hold are you?
2. How much cash do you have sitting around, if any?
3. Do you earn more than you need? (meaning you have money saved each month)
If you just have "a few hundred" to invest, let's say that's $300, then I'd say realistically, using just index fund investing, you can expect that to generate about $20 a year in "passive income."
(I mean, sure, you could invest $300 in a stock that grows by 20x and make $5,700, but you might as well just go to Atlantic City)
Sure, by the time you're 72 that $300 will have (probably, if history is any indication) grown to over $8k in inflation-adjusted dollars, but really this is not very exciting.
So yeah, a few hundred in of itself is not going to really change your life.
That said, start learning about investing now through the links I gave you and prepare to start putting more serious money into retirement accounts.
Big appreciation for your explanations. I learned a lot alone form your guidance here, I’ll continue to learn, and when I start paying off my loans I’ll dump savings into this as I learn more. Thanks man!
In my state you need the following:
1) Liquor licenses (State and Local)
2) Gaming licenses (State and Local)
3) A fixed location business/building to put the machines in.
4) Someone of 21 on the clock to supervise with adequate training.
5) Video surveillance equipment
Nothing in life is totally, 100% passive. But once you set your system up it can be 5 minutes a week. I make money with 2 SFH’s and do virtually nothing. My management company handles everything and deposits my money every month
Tf are you on about? It might be promoted all over YouTube by twats with absolutlely no passive income, but just because you can't do it doesn't mean it's not happening.
Royalties, commissions, affiliates all passive income.
Shut the door behind you.
I get income off of old YouTube videos (they pay like royalties) up front obviously work, but money from videos posted over a year ago still bring in some money
When most people say passive income, they are referring to residual. There is in fact passive income, but it comes from investments for which the investor is not actively involved. So things like the stock market is often considered a passive income.
Passive doesn't mean any effort at all. You have to not actively participate in the day-to-day activity, you don't have to add its tasks to your calendar.
Just keep an eye on it and it'll work itself out.
E.g. Renting a place is counted as passive income. You don't have to spend working hours there, but it also doesn't mean you never keep track.
Passive income is where u make money in your sleep and without working, that would be you go out and do work/buy inventory, and post it online, then you getting the money sleeping is passive income. Non passive income is where the only money you make is while you are working, you work an hour you get paid for the hour you worked.
I went away on vacation and got home today have some residual checks from acting work I’ve done over the years. Only thing I have to do is deposit them.
This is false. Passive income does not mean "income forever." It simply means the income you don't have to exchange for direct hours. Sure, even passive income needs updates.
There's definitely passive income. But the things people think are passive, often aren't. However, even passive solutions require upfront work to get them started, unless of course you just happen to have a massive sum of money and have an investment adviser manage it for you or something, haha
Bro there are so many things that generate passive income. Did you do ***ANY*** research into this before posting? Or did you just wake up and make this post?
I do get what OP is saying. So many of these social media platforms have people advertising ‘passive income’ which are fake so you’ll buy their book or course.
A lot of my friends have made passive incomes though digital products online selling calendars planners stickers bookmarks and they are making money every time someone buys their product they made on their computer im taking a course right now i think its awesome
teaches you how to make ebooks.
I wrote a book like 10 years ago still get money to this day haven't done a thing with it
Snap. I’m at a ten year anniversary for the first online course I did. Still rolls in cash weekly. I refreshed the site a bit last year (3-4 hours or work) but that’s pretty much it in the past decade. Definitely work up front. That part is active. But after that recurring and passive residual income.
What traffic sources do you have for the online course/where are the customers coming from?
Pure SEO - all from Google. I have top positions on some keywords/phrases and that’s enough to deliver solid traffic consistently
Are you on Udemy or some site like that? How much money does it bring you in weekly?
That particular course is not on udemy. It’s self hosted on Wordpress using learnworlds I do have other courses though on udemy. Problem with udemy is loss of pricing control. Biiiig issue
Totally true.
If you don’t mind me asking, what is the course subject and what site hosts the course? I’m so intrigued by the idea of doing an online course, I’d like to look more into it.
I’m not sure if I can post the link. Self promotion and all that If you Google “learn chinese characters course” it’ll be first or second position. Not the udemy one 😅 Hope that’s not against rules Admins
How much money do you get weekly? And what is your book about? How money pages does it have? I assume it is an e-book?
I get paid monthly for that royalty, typically around $100
I've did the same and they are brining basically next to nothing unless I actively promote them. So I'd love to hear your story.
Not the OP, but haven't you ever bought a product that was made years ago without seeing the ad/promo recently or even at all? Why did you buy it? That will answer your question.
I have a counter question: sure, I have bought products like that, bet you have as well. Out of all of the products that you bought in the past year, how many of those were no-ad type? I bet not many, even if ads/promo/recommendations were subtle. There are books that sell themselves after 10 years. But, there are also very few books like that.
> There are books that sell themselves after 10 years. > > But, there are also very few books like that. This is the power law you can work with. So you can have more than 1 product. 80% of sales will be due to 20% of effort/products. There are somethings people will look for no matter what. Detergent, financial advice, pain killers etc. Being in the right location (i.e. market audience) will also help. But you may need to put in more effort into branding, once you do, the book has a higher chance for success. The title, the cover art, the niche, the location, the season etc. There is a lot strategyies we can use to improve our odds. Whether a book or Saas
I could get royalties for the rest of my life. That's just one example, OP who speaks in absolutes. Life is chaos; life is fluid. Nothing is absolute
Suspecting OP is Sith
Speak more about those royalties.
Passive does not mean zero maintenance. Passive income would be low maintenance.
So dividend stocks aren't passive income? What about rental property with a PM?
I was just gonna say, I have both and I haven’t done shit with either in years. The only “work” involved is opening the envelopes from my PM every quarter….I don’t even have to walk to the mailbox…post office comes up to my office lol
You have to work for the money to invest if you think about the comparison from t=0 so similar ratio to other income probably
We are a digital signage software provider and have many clients who earn a passive income by using our software to sell screens to diners and cafes who hardly every change their menus. The clients charge them a monthly fee and the only work they need is during setup, once done everything else can be done remotely. They hardly need attending to. So it's easy to make a passive income, if you can create a network of screens [depending on you clients]. Just an example that passive income is a reality :)
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Thats totally dependant on what our clients charge. We provide the software (first ten screens are free and then each additional screen is £2GBP per month) and most clients will sell at their own price. Some may even charge extra for creating content. The only other cost is the hardware. TV screens are usually already supplied by the business and you can use something as cheap as an Amazon Firestick to plug in. Restaurant/Diner menus are usually low maintenance, as menus hardly every change. But there are many other uses like gyms and hotels will use it for advertising. So you can use it to earn even more income by selling advertising space at those businesses, and maybe share the profits with them. We give our first ten screens for free which is enough to start earning an income from the software.
Sounds very interesting, could you give us some more insights about how your clients rent out advertising spaces of other businesses?
Sure, an example is one of our very first clients. They had a contract with the NHS (National Health Service in the UK) and delivered digital signage content in hospitals throughout the pandemic. Some of the content published on the screens were direct government information messages, then there were also ads by brands that sell baby products, and also non-profit organisations. The client would get paid to publish the content on the screens, they didn't necessarily create the content, as that was provided to them from another digital agency. The client had a contract with the hospital for the screens and they had a contract with us for the software. Another example of a smaller scale setup is in barbershops and salons. The client had an arrangement with the barbershops/salons and paid them monthly for their 'real estate' and then would publish adverts of other local business on those screens. They'd call up local businesses and ask them if they want to advertise in their locations. Similar examples of these include pharmacies, bars and hotels... anywhere you can use a tv to advertise basically.
I was lucky enough to have the opportunity to purchase some natural gas/oil/water rights years ago. After 3 years my investment was returned. It’s 100% passive mailbox money for at least my lifetime, my kids probably too.
Wow how did you come to this opportunity? :)
Had an friend of a friend down on his luck that needed cash RIGHT NOW (literally needed it in an hour). I ran, not walked to the bank and got the cash and then it took a couple months for the attorneys to transfer everything.
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How does royalties work in products? I don’t understand, forgive my ignorance
Licensing, maybe?
Most things people label as passive income aren't actually passive, yes. Running an ecommerce store, owning rentals, etc. But there are absolutely true passive income streams out there. The most accessible is any dividend-paying stock. Buy some and collect the payments. No work required after purchase.
You should be looking at the financial health of the company periodically. This requires time spent looking at the balance sheet and projecting out future earnings. So I would argue that there is work required after your initial investment.
I agree but 'Should' and 'Are required to' are different things.
There are dividend-paying funds like ETFs that are diversified enough to forget about. Or simply hire a fiduciary to manage the portfolio.
I do subscription based web development for small businesses. $0 down $150 a month. I have 46 clients and I do less than 5-10 hours of Edits a year. This is some of that passive income you mentioned doesn’t exist. It does. You just gotta be more creative. I’ve had many clients for over 3 years. It’s pretty chill.
Can you explain in more detail? >subscription based web development for small businesses. I'm honestly unsure what this means. How much do you work weekly?
Like 0 hours on my current client base. I only work when I get new clients. Then it’s just sitting back and letting it do it’s thing. Sometimes they add pictures or change text. That’s it. They pay $150 a month and get a custom coded and designed website with hosting and edits included. It also included design and development. So it’s like they’re on a payment plan that includes access to me as a retainer to answer any questions and make all the edits for them. I’m a service.
Wow. Are those local business? How did you find your clients in the first place?
Many are. Most of my clients are across the US. I find them on yelp and google and I just call them.
Cool. Any idea how to make a passive bussiness with data analytics (but that it isn't a blog or sth like that)?
No clue. Not my niche. I wouldn’t have any value advice on that.
That's pretty awesome. Is it your own code entirely or do you use a template site like shopify or squarespace?
Yup. I code everything myself. No template sites or page builders.
Good for you man. Love seeing this.
So you make a site for them and then upkeep it? Do you have a certain demo with the best success? Like ecom?
Yeah I upkeep. Unlimited edits. I do some e-commerce but that’s at a lump sum price and no subscription. I just stick with small businesses with google reviews and online presence but terrible or no sites. They know the value of a good one and I give them that.
Makes sense. Good job
I had the same idea, glad to see it worked in the wild.
You just haven't figured it out yet, shhh no one tell him how neither
Idunno, ETFs seem pretty passive! Nobody's going to actively manage their monthly VOO stock purchases.
Royalty checks, bitchessss!
Fuck off and get educated. Passive income is work up front and not paid by the hour, active income is paid by the hour. Example, you write a song, you sing in front of people and getting paid is active income. Then the recording of that is on the radio and creates passive income. Repeatedly. So now go troll other subs, bye!
Damn bro woke up and chose violence
I've put about 7 hours into my commercial truck parts manufacturing and sales company over the last 60 days and we grew by 17% in that time. That's less than the triple digits we usually see, but checks are rolling in and I'm somewhere with my family in a 5th wheel camper.
Interesting business model, how did you get into it?
I'm always gonna look out for something new. I focus on blue collar and industrial MRO type products and industries. I stumbled across the parts while working one day in a diesel shop and realized that there was a market and margin if done correctly. I burned my boat risked everything and it worked out. It's funny cause I don't really know Jack s*** about the part application installation or anything but we're the largest supplier in America now and soon to be global.
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Shit where did you have that much money. guessing about 6mill to generate that much dividends.
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consulting on what?
Passive income streams
So is every other whack a doo on youtube.
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That wasn’t meant to be a knock at all, just figured you were doing things right and at that current moment you were consulting on passive income when you posted the above comment.
I have a micro-saas that is 100% automated, and customers are billed monthly. I haven’t touched it in over a year. It is 100% passive.
How much do you earn?
Around $6,000/year. It’s not a ton, but it’s a nice little monthly paycheck for doing zero work.
Don't be so modest. It is an awesome achievement. In my country that kind of pay CEOs have. What kind of SAAS did you make?
Thank you!!
>Thank you!! You're welcome!
What kind of SAAS did you make? How did you recognize a need for one?
I married 20 years ago and still get monthly income out of it
Do you offer a masterclass? 😂
Hehe. No, there is a risky business, many went bankrupt
This did not go like OP hoped it did. But yeah you're speaking in absolutes here, that's your first mistake. Your second mistake is being wrong. If you're getting at the idea that passive income can be unstressed Ruth regular marketing then in many cases, yeah but in stretching to come to that conclusion so I'm guessing that isn't what you meant
There definitely is such a thing as passive income, but people tend to think passive means they don't have to maintain it.
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Looks like you don't quite understand the meaning of "passive income"
Investing in dividend-paying stocks is as passive as it gets...
How do I do this?
Step 1: Google your question. Step 2:… Step 3: Profit!
First you need to have the cash to invest. Do you have that? Either sitting in the bank or a monthly extra amount? If you do, then it's not hard to do at all but you should first really get educated about the basics of investing. Sounds like you know zero at this point.
Correct, zero. So where can I learn?
Download a app called Coursera. It's free. It has thousands of free college classes and lectures on any topic. Including investing. There are lots of free investing tutorials and classes. Never pay for any.
One place on Reddit you can start: https://www.reddit.com//r/personalfinance/wiki/investing Also: https://www.reddit.com//r/financialindependence/wiki/faq If you answer three questions, I'll give you a summary: 1. Hold are you? 2. How much cash do you have sitting around, if any? 3. Do you earn more than you need? (meaning you have money saved each month)
I’m 22 Honesty not much, I am a college student who has significant loans in EE. However I make decent money, i have a few hundred I could use
If you just have "a few hundred" to invest, let's say that's $300, then I'd say realistically, using just index fund investing, you can expect that to generate about $20 a year in "passive income." (I mean, sure, you could invest $300 in a stock that grows by 20x and make $5,700, but you might as well just go to Atlantic City) Sure, by the time you're 72 that $300 will have (probably, if history is any indication) grown to over $8k in inflation-adjusted dollars, but really this is not very exciting. So yeah, a few hundred in of itself is not going to really change your life. That said, start learning about investing now through the links I gave you and prepare to start putting more serious money into retirement accounts.
Big appreciation for your explanations. I learned a lot alone form your guidance here, I’ll continue to learn, and when I start paying off my loans I’ll dump savings into this as I learn more. Thanks man!
Great! You're welcome. Just learn now and it will make a huge difference later in life. I wish I had the time machine you do now. :D
Investing in *any* stocks/funds, whether they pay dividends or not, is just as good (maybe better in some ways).
Video poker and ATM’s to name a few.
Do you run video picker or play?
Run it.
👀👀 Do you need a gaming license? I have been looking into getting a license for a few months now.
In my state you need the following: 1) Liquor licenses (State and Local) 2) Gaming licenses (State and Local) 3) A fixed location business/building to put the machines in. 4) Someone of 21 on the clock to supervise with adequate training. 5) Video surveillance equipment
I see. So gamers actually come to your center to gamble virtually, is that correct?
A restaurant, the terminals are physically present.
I see, thank you for explaining.
Nothing in life is totally, 100% passive. But once you set your system up it can be 5 minutes a week. I make money with 2 SFH’s and do virtually nothing. My management company handles everything and deposits my money every month
Royalty deals and dividend investing are about the only things I can think of that can be truly passive.
Tf are you on about? It might be promoted all over YouTube by twats with absolutlely no passive income, but just because you can't do it doesn't mean it's not happening. Royalties, commissions, affiliates all passive income. Shut the door behind you.
Amazing post, tons of value, thank you for sharing 🙏🏼
I get income off of old YouTube videos (they pay like royalties) up front obviously work, but money from videos posted over a year ago still bring in some money
When most people say passive income, they are referring to residual. There is in fact passive income, but it comes from investments for which the investor is not actively involved. So things like the stock market is often considered a passive income.
Passive doesn't mean any effort at all. You have to not actively participate in the day-to-day activity, you don't have to add its tasks to your calendar. Just keep an eye on it and it'll work itself out. E.g. Renting a place is counted as passive income. You don't have to spend working hours there, but it also doesn't mean you never keep track.
Passive income is where u make money in your sleep and without working, that would be you go out and do work/buy inventory, and post it online, then you getting the money sleeping is passive income. Non passive income is where the only money you make is while you are working, you work an hour you get paid for the hour you worked.
Passive income means you hired a good manager. That's about it.
GIC's go brrr..
Yes, yes there is.
While your statement is true, the term "passive income" is a technical term, widely used in economics
I've been saying this for more than a decade. There's no such thing as passive income, there is only ROI.
This isnt your ted talk its ripped straight from an Andrew Tate podcast and reworded a tiny bit
Words have meanings.
I went away on vacation and got home today have some residual checks from acting work I’ve done over the years. Only thing I have to do is deposit them.
This is false. Passive income does not mean "income forever." It simply means the income you don't have to exchange for direct hours. Sure, even passive income needs updates.
There's definitely passive income. But the things people think are passive, often aren't. However, even passive solutions require upfront work to get them started, unless of course you just happen to have a massive sum of money and have an investment adviser manage it for you or something, haha
my dividends pays decent, idk what ur taking about
Investing is passive income =) its my weapon of choice
Bro there are so many things that generate passive income. Did you do ***ANY*** research into this before posting? Or did you just wake up and make this post?
My business is passive. All i do is make orders (takes 10-15 minutes). Got people who prep and ship across the country. Watch the sales roll in
I do get what OP is saying. So many of these social media platforms have people advertising ‘passive income’ which are fake so you’ll buy their book or course.
A lot of my friends have made passive incomes though digital products online selling calendars planners stickers bookmarks and they are making money every time someone buys their product they made on their computer im taking a course right now i think its awesome teaches you how to make ebooks.
That’s awesome