How to Make Money on Kindle - Kindle Goldrush
There are a large number of different online methods for making money but publishing books to Kindle is one of the most under-utilized and potentially profitable.
In fact, making money from Kindle is probably one of the best ways to live the ‘passive income’ dream shared by so many marketers. This is an opportunity to make money while you’re sleeping, while you’re on holiday, or while you’re busy with other tasks.
And it’s a chance to sell to a huge audience that includes everyone from the tech-savvy marketers you’re used to selling to, to silver-surfers, stay-at-home Mums, students and everyone in between. In 2010, Amazon announced that e-book sales had surpassed paperback sales on Amazon, which should tell you just what a gigantic market you have to tap into here. This is a far cry from selling a ‘make money’ ebook via a sales page on your website, which will only appeal to a relatively very small audience.
How much profit can you make? It’s massive. Some people are making several hundred thousand dollars a year from Kindle and once they’ve set that business up, they don’t have to do anything much to maintain it. Selling books on Kindle also makes a fantastic ‘side business’.
It’s a brilliant way to diversify and to give yourself an additional income stream and it’s also a great way to make your business more resilient in the face of market changes. You can re-use old materials this way and even use it to promote your other websites, products and other businesses.
Oh and guess what else? It’s actually really easy and incredibly scalable. Unlike creating mobile apps or websites, you don’t need any particular skills (other than the basic ability to write – though that’s negotiable too) and you can have an ebook up and running and for sale on the marketplace in a matter of hours.
BUT there are of course caveats.
Making money on Kindle isn’t easy if you don’t know what you’re doing. It’s a very saturated marketplace with 4.3 million ebooks available in the US right now, and there are several irritating catches (like the high commission that Amazon charges) that you need to be aware of.
What you really need is some kind of map… Almost like a guidebook that can help you to find your way through the world of Kindle publishing, to avoid the pitfalls and problems along the way and to give yourself the highest chance of success.