Amazon Kindle Direct Publishing has been around for quite some time and you may have heard about it before. It’s maybe not the first thing that would pop into someone’s mind when thinking about making money online but I’m going to show you why it’s one of the best ways to get started.
Low Start Up Cost
First of all the start up cost is very small compared to many others. Amazon Kindle Publishing doesn’t charge you unless you sell a book so the main cost of production is to get a book created. Unless you are a writer yourself and a graphic designer the best solution is to outsource those parts to people online. That’s what I personally have done with most my books ( hired a ghostwriter ).
It’s very easy to get started as you can go online to sites like Upwork or Freelancer to hire people to write books for you and also to create the graphics for the cover. Even though average writers will charge about $100 for doing a book for you it’s possible to get it down to as small as $50. Of course there is always the matter of quality so take notice of that and ask for samples before deciding on the lowest bid from someone.
Then you just need a cover done for the book and that’s very simple by going to Fiverr.com. There are some very decent designers there that will do a bullet-proof cover for your book for $5. The total cost for one book could be about $60-70. If the book is of good quality then it’s possible to get your investment back in as low as 30 days.
Then you just need to upload your text document and cover image to Amazon’s Kindle Publishing, put in a description of the book and that’s it. It usually takes from 12 -24 hours until the book is for sale which is very quick in my opinion.
After your book is live then there are ways to promote and market you book with free methotds like Facebook, Twitter and Directory Submits on webpages. No need to go buy ads though that is a possibility if you want.
High Profit Margins
Even though I think that everybody should be focusing on long-term success and building up your online business over time but not trying to achieve something “get-rich-quick” then the truth is that it’s quite possible to have success fast. The potential with Kindle in my opinion is that you can reach $100,000 in a year a been in good profits as the cost of creating and marketing Kindle book is so low. This all depends on the quality of the book, the target audience, competition and etc and there are no promises but overall if you are doing a decent work giving people a lot of value for only $2.99 then the chances are good.
The good thing about Kindle Publishing is that it’s so simple compared to other methods to make money online. You don’t need to be an expert or a “guru” to be able to publish a Kindle book. As you can leave the writing and design of your book to other people the only thing you really need to worry about is publishing your book and market it. Even that can be outsourced if you are not comfortable doing that but I wouldn’t recommend that it’s so simple and easy that you are better off saving your money. Publishing your book is just about filling in information about your book like description, author, categories, cover image and so on. Amazon’s system is simple, sleek and newbie friendly so it’s ideal for a beginner to get start with. When you have gone through the process once then it’s something that is easy to do again and again. The best way to promote your book is in Facebook groups, Twitter and websites that allow promotional submission. Most people are familiar with Facebook and that is the best way to start.
People Associate Trust With Amazon
Amazon has been around for a long time is the biggest marketplace in the world. That means that people are going to their website deciding to buy something. So most of their visitors have their credit cards ready and that is a good thing for you as it’s just about having a good cover, good description of the book and of course good quality.
Amazon has made it really easy for just about anyone to become a publisher with their Kindle Direct Publishing program were you can upload your ebook to their marketplace in minutes.
They Always Pay On Time
When you book sells then Amazon pays you royalties from that sale and also Amazon get’s a share. After you have published your first book then it’s two months until Amazon pays out. Since I started in February 2016 I have always go my payment on the 29th each month like clockwork. It’s good when you don’t need to worry about getting paid and this is one of the things that makes Kindle Publishing great. I live in Iceland and have an Icelandic bank account just for you to know and it has never been any hazzle getting a wire transfer directly. No Paypal needed or other payment processors.
You Can Scale It
Though I recommend starting with ebooks then you can later on turn that ebook into a paperpack version on CreateSpace and an audio version on Audible. You can charge more for these formats and therefore collect more profits. Also with Kindle Publishing ebooks you can start building an email list which is something you should definitely look into later on. I myself collect people’s emails by offering them bonus books when they buy one of my books. Most people will give you their email if you offer them something for free. So in my ebooks I have a link to a “squeeze page” or a bonus page where I tell them that in order to get my bonus books they just have to enter their email and after they do that they are redirected to a download page with the books. The purpose of this is to collect a list of followers and subscribers to connect with and sell them more stuff later on – not just ebooks. This can be for example affiliate marketing offers that I will explain in a later video.
It’s Passive Long-Term Income
Kindle Publishing is a great long-term incomestream for your online business as you don’t need to a high level of supervision to maintain it. There is always some work to be done like promotion and marketing but that part is rather simple in execution and can be outsourced for a low price. When your book get’s established with reviews, free downloads and sales it’s a good chance that it will sell every month like clockwork. Some will do better than others but for the 10 month since starting it’s incredible how passive and sustainable this business is and it’s something I will be doing for a long time as it’s so easy to maintain it.
So I hope this clarifies why Kindle Publishing should be one of the starting points of your online business. It’s a great chance to get started making income online.
Hafsteinn Thordarson / Next Step Freedom