Why self-publish on Amazon? The Kindle ereader is the company’s number one selling product. According to Jared Newman of PC World.com, Amazon sold more than one million devices a week for three straight weeks during the 2011 holiday season. Millions of Kindles have been sold, yet only 3 to 4 percent of readers use ereaders. This is a market that is still growing and there’s still plenty of room for enterprising freelance writers.
The $50,000 Formula
Six books or reports self-published on Kindle listed at $4.99 selling 200 each per month yields $5,988, or $71,856 annually. Of that, authors receive 70 percent. Here are the eight steps to earning $50,000 a year self-publishing on Kindle:
1) Find Your Niche-Without finding a profitable niche, you won’t sell many books. Amazon has millions of titles available and some authors haven’t sold one book. Finding Kindle niches calls for finding topics Kindle readers are already paying to read about. Check out Kindle’s bestseller list for topic ideas.
2) Write Your eBook, eArticle or eReport-Write about topics that solve problems. Non-fiction bestsellers on Kindle show readers how to solve specific problems such as earning more money, improving photography skills or even creating a thriving garden.
3) Create a Website for each Niche-If you write six titles in the “improve your photography” category, create one website for your photography niche where you promote all your titles. Having a niche website helps you further identify your brand.
4) Open One Amazon Associate Account-Becoming an Amazon associate through Amazon.com provides an excellent way for you to share other recommended reads on Amazon that relate to your book on your niche website. Create a resource page listing all of your works and works of other Kindle authors your website users may find helpful.
5) Self Publish on Kindle-Kindle’s program accepts Word, ePub, Plain Text, Adobe PDF, Zipped HTML and Mobipocket manuscripts. While other outlets offer POD—Publishing On Demand services for a fee, publishing on Kindle is absolutely free. It’s also quite easy.
6) Sign up for KDP Select-Amazon’s popular program, Amazon Prime allows members to receive special perks. Members can borrow books through Kindle’s Lending Library. Entering your Kindle works in the program helps create word-of-mouth which typically produces more sales.
7) Promote, Promote, Promote-Readers can’t buy books they don’t know exist. Promotion equals sales. There are plenty of online opportunities to market your works including blogging, article marketing and social marketing.
8) Rinse & Repeat-Once you write your manuscript and successfully market, simply repeat the process. Announce upcoming books on your website and keep growing your brand. It doesn’t typically happen overnight, but steady marketing and persistence will significantly help promote your works.