Sam Holstein

Why Every Online Writer Should Self-Publish with Amazon Kindle

Why Every Online Writer Should Self-Publish with Amazon Kindle

Online writing gurus always talk about how important it is to diversify your income. One great way to diversify your income is to self-publish books on Amazon. There is a huge marketplace with millions of readers eager to try out your books.

Publishing a book used to be (and for some, still is) a long, drawn-out affair. We’ve collectively learned to see publishing a book as a huge project. People work for years or even decades on one manuscript. Then they spend several more years searching for a publisher. 

That style of publishing is not the only style. There are many people who’ve learned to write books in less than a month and ready them for publication in only a matter of weeks. These prolific writers tend to self-publish their books, leaving them to keep the lion’s share of the revenue (self-publishing a book means you get to keep 70% of the sale, as opposed to 30% of the sale). More books and more money earned per book means these writers can easily live off of six-figure royalty incomes. That’s welcome news for online writers.

Amazon Kindle’s Market Is Huge

The market for Amazon Kindle is huge. Medium.com gets roughly 30 million hits per month, one million hits per day. Amazon sells roughly one million ebooks per day. Imagine how many hits their Kindle store gets every day. 

On Medium, there are only a handful of people who make $10k and up per month, and they are shrouded in mystery. On Amazon Kindle, sellers only start to be noticed as big dogs when they make $10k a month or more. There are some self-publishers who make six figures every month.

The potential for success when self-publishing your own work with Amazon is huge.

Selling Books Is Every Writer’s Dream

There are so many ways to monetize as an online writer; offer freelancing services to clients, sell coaching, sell online courses, write for Medium, write freelance for other magazines, the list is endless. But the dreams of most writers begin with the idea of writing a book. 

Self-publishing books is a way to make good on that original dream. 

Self-Publishing Books Is a Long-Term Strategy

Selling freelancing services or coaching is transactional. You trade your time for dollars. Most business owners dream of building passive income and escaping this cycle.

Self-publishing books is a way to build passive income. People who successfully build income self-publishing books can escape the cycle of trading hours for dollars. People who are really successful will earn more money than was ever possible for them before.

Two Examples of Successful Self-Published Authors

There are a handful of big names known for educating authors about how to sell Kindle books. These people make five figures a month on their Kindle sales for sure, but I am not counting these people. There are also some runaway successes, people who self-published their first novel and became overnight millionaires. These are not these people either. These people are normal, average, non-famous people who make a great living selling Kindle books.

Nick Thacker

Nick Thacker is a writer who makes $10,000 to $20,000 a month selling thriller and action-adventure novels. He wasn’t an overnight success; he worked his day job for six years before he quit to be a full-time writer. He’s not a high-profile writer who teaches others how to make money on Kindle — he earns his entire living from these thriller and action-adventure novels. His business expenses total only a few thousand dollars per month.

LJ Ross

It’s not clear how much money LJ Ross makes every month on Amazon Kindle, but with over 4.5 million copies of her books sold as of February 2020, it’s undoubtedly five figures per month. She was blessed to have one of her novels become a breakout success, but she was also a good enough writer to write that breakout success — and a savvy enough entrepreneur to take full advantage of it.

Amazon Kindle Is an Exciting Opportunity

Yes, not every self-published writer is going to make anything near five figures per month. But most Medium writers don’t ever make more than $100 — but I know from experience that it’s easy enough to make hundreds on Medium every month, even if only a single-digit percentage of Medium writers ever do. I know from experience that if you’re willing to put in incredible amounts of work, anything is possible.

For the last few months, I’ve been focusing less on Medium and more on Amazon Kindle. 

When it comes to selling self-published books, I’m an absolute beginner. After self-publishing a few highly unprofessional books and taking them off of Amazon’s marketplace, I published Work Less Finish More. Over the last few weeks, my lovely newsletter subscribers helped me get 31 positive reviews for my book, some of which were absolutely glowing. These reviews enabled me to set up a book promotion for Work Less Finish More that is beginning in the coming week. 

In all months prior, Work Less Finish More has earned roughly $50 a month. This month, Work Less Finish More has earned $100 so far — and the week-long promotion hasn’t even started yet. I’m hopeful I can earn $300 or more by month’s end. 

My overall goal is to earn more than $1000 MRR on the Kindle store. My plan to do this is to write 3–6 Kindle books and set up a promotion cycle. The Amazon Kindle Select program allows me to promote every book once every 90 days, so having 3 books allows me to have one promotion running each month. (Six books would allow me to run two promotions every month). Time will tell how much money each promotion will earn.

Also, self-publishing books has a cumulative effect. Each book is an opportunity for readers not only to buy that book, but all of your other books as well. Self-published authors find their base income rises with each book they publish. This effect is enhanced by using your book’s back matter to promote your other books. Between this effect and the impact of running regular book promotions, it should be more than possible for me to earn $1000 every month on the Kindle store.

Those are my plans, anyway. We’ll see what happens ?