This is the first chapter in my self-publishing book, make Make Money From Kindle Self-Publishing.
Writing a book is hard. You agonize over every word, invest weeks researching new ideas, and spend hours in endless rounds of self-editing.
Eventually, you’re ready to put your book out into the world. This is where you get stuck. Now, you face a new set of challenges.
How do you get your book into the hands of readers?
What if nobody likes your book?
How much time and money will it take to publish your book?
How can you turn all of your hard work into an ongoing source of income?
This last question is the most difficult to answer. There are hundreds of books and courses about self-publishing. Most teach you how to successfully launch your book. Yet, few talk about how to earn an ongoing income as an author, and there is a good reason for this. Few authors earn a living from their books.
According to a Bookscan survey, the average U.S. nonfiction book sells less than 250 copies per year. Assuming you are selling a $2.99 Kindle book, this works out at around $40 in royalties each month. An extra $40 per month is not going to pay for your kids’ college education, buy your dream vacation, or help you save for retirement.
However, you can do better than the average author. In this book, I will not only show you how to earn $120 a month (triple the average earnings of a U.S. nonfiction book), I will also show you how to earn $1,000, $5,000, and even $10,000 a month.
My Self-Publishing Story
I’m writing this book as someone who has been in your shoes.
When I decided to publish my first nonfiction book, I didn’t know where to begin. There was so much advice on the Internet, but I wished someone would tell me exactly what to do and how to make my book a best seller.
I decided to learn from people who had already published multiple best sellers, so I read books, followed experts, and signed up for the three leading self-publishing courses.
At that time, I had no existing readers and knew little about Kindle publishing. Three months later, I had written and published a best-selling book.
My first book still sells every day. Each month, I earn between $120 and $200 in royalties from one nonfiction book. Since then, I have published five more books. All became bestsellers in multiple Amazon categories and continue to sell today. I have reached over 16,000 readers and am building a business around my books.
But it does not stop there. I wanted to go beyond a handful of best-selling books. I have a background in email marketing, and I’ve helped hundreds of small business owners convert website visitors into email subscribers and loyal customers.
I applied my prior experience in online marketing to the world of self-publishing. The result is my four-step system to more than triple your income from nonfiction books.
My goal in writing this book is not to make outlandish promises. Instead, I want to show you what is possible in a relatively short time, even if you have no existing email list and little to no publishing experience.
Here is an overview of how my four-step system works.
The Four-Step System
My system is based on the concept of a sales funnel.
A sales funnel is a visual representation of your sales process. The funnel shape indicates that more people enter the funnel than reach the end point. A sales funnel is divided into stages. The stages differ depending on your sales model.
My sales funnel for nonfiction authors has five stages:
Ideal Readers > Book Buyers > Email Subscribers > Loyal Followers > Repeat Customers
Entering the funnel are ideal readers. A percentage of these readers become book buyers, then email subscribers, then loyal followers, and ultimately repeat customers.
Your goal is to move more of your ideal readers through the funnel so they buy from you again. The more people you move through the funnel, the more lives you impact and the more money you earn. You do this by following the four steps described below.
If you’re not concerned about making more money from your book, then you need only follow the first two steps in my system. These two steps will help you publish a book your readers love. However, if you want to multiply your income as a self-published author, then steps three and four are critical.
Step 1: Reach Your Ideal Readers
In step one, your goal is to help the right people discover your book. It is important you focus on your ideal readers and not just anyone. People who are not interested in your topic are unlikely to buy your book. Or worse, they may buy your book and leave a negative review.
Step 2: Sell Your Book
Once the right people discover your book by visiting your Amazon book page, you want them to buy your book. In step two, you make your book irresistible to your ideal readers. Your aim here is to attract more readers and earn higher royalties.
Step 3: Build Your Following
Your following is a group of people who want to buy your books, products or services. In step three, you build a tribe who want to hear from you and who you can help.
Step 4: Make More Money
Once you attract the right followers, you give them unbeatable value. You build trust over time. This leads to more sales beyond your initial book royalties.
How To Triple Your Income And More
Let’s look at some numbers to demonstrate how the system works. In the following example, the number of book buyers and new email subscribers are based on the results from my first book.
I assume that 10 percent of email subscribers purchase a $50 offering, five percent purchase a $100 offering, and one percent purchase a $500 offering. These percentages are based on my experience selling information products online. They are also the conversion rates suggested in Internet Business Blueprint, which is book two of the Quit Your Job In 6 Months series.
For now, don’t worry about what the offerings are. We talk about the products and services you can create for your subscribers in chapter 15.
Here are the numbers at each stage in the sales funnel:
- Book Buyers: 60 Kindle book sales per month at $2.99.
- Email Subscribers: 20 new email subscribers per month.
- Loyal Followers: 8 new email subscribers who regularly open and read your emails.
- Repeat Customers: Two subscribers purchase a $50 offering and one purchases a $100 offering.
The ongoing monthly revenue originating from one book is as follows:
(60 book sales x $2*) + (2 sales x $50) + (1 sale x $100)
= $120 + $100 + $100 = $320
* $2 is the approximate commission you receive on a $2.99 Amazon Kindle book.
$120 in book royalties is triple the U.S. average of $40 each month. When you add in sales from other products and services, the total grows to $320.
The above example is conservative. I do not want to over promise; instead, I want to show you what’s realistic when starting out. Once you become established in your space, you can introduce high end offerings. For example, I now offer four-figure coaching packages.
Also, this example does not consider the spike in sales when you first launch your book or other offering.
Here is how a product launch may look. Fast forward two or three years and your email list now has 2,000 subscribers. You launch a new offering priced at $500. At launch alone, you make 20 sales (2,000 email subscribers multiplied by one percent).
Your income at launch is $10,000 (20 sales x $500).
What If You Only Want To Write Books?
At this point, you may be thinking you just want to write books. You are an author and you have no interest in learning how to create online courses or deliver coaching services.
If this is the case, you can still use the four-step system to increase your earnings. By building a list of engaged email subscribers, you have an audience who are eager to buy your books.
In chapter 15, we will explore ten ways you can earn more money. These options include writing more books, creating book bundles, and generating other book formats such as audiobooks.
Your Self-Publishing Story
Now you understand my four-step system, it’s time to create your self-publishing story. Perhaps you picked up this book because you already have a manuscript sitting on your desktop. Or maybe you’ve published a book on Kindle but the results have been underwhelming.
In either case, I’m here to help. In this book, I give you a step-by-step guide so that you can:
- Quickly and easily publish your nonfiction book on Kindle.
- Promote your book and reach thousands of readers.
- Build a loyal following of email subscribers.
- Maximize earnings from your first book and all your future offerings.
When you read this book you are going to save time. You can stop trying to figure things out on your own. You are also going to save money. I tell you exactly how to get your book edited and formatted without breaking the bank.
I even give you my day-by-day launch plan, which is proven to work. It is the exact plan I used to launch my first Kindle book, Make Money On Airbnb. My book reached over 1,500 readers in its first month and I still sell multiple copies every day.
These strategies have not just worked for me. In writing this book, I interviewed other self-published authors. I asked them exactly which promotion and monetization strategies worked for them. Their responses are included in these pages.
I urge you not to delay. Your readers are waiting to hear from you. Now is your time to become a best-selling author.
To learn the exact steps to self-publish your nonfiction book, check out Make Money From Kindle Self-Publishing. My book shows you how to become a best-selling nonfiction author, help thousands of readers, and earn a recurring income.