QUESTION HI Anthony!! I have a question about your kindle books. Are they making money for you? (and I don’t mean to get personal on this – I don’t want your figures for the year lol). I just want to know if it really works. I read your last post for the year and even if I don’t get into the book business, it is a real eye opener and a great way to begin this year. Thanks for sharing!! Have you personally done any of the other methods he suggests? Thanks again just wondering here!!
ANSWER Yes; I am making money with the Kindle books.
Right now I am making about $500 a month.
However, putting up Kindle books is not cheap.
I hire people from this site to help me out: http://upwork.com/. Upwork is a site where you can hire people to work for you on projects. It’s like elance.com, …but cheaper (and it looks like Upwork now owns elance.com).
A Quick Note: You want to hire people overseas, like the Philippines for example because you can pay them less money. You can easily get projects done for like $3 or $5. That is not the case with American workers. You will end up paying top dollar to American workers.
I am paying a European girl to collect the numbers for all 23 states every week. This is time consuming work and I would not be able to put up the 7 Day Numbers every week if I had to collect the numbers myself; so I outsource it. I am paying $16 for this. I can get it cheaper…but the girl I am working with is really good and accurate so I am willing to pay a little more.
I also have somebody format my Word documents for Kindle….that’s $8. (That the key to all this: outsourcing. I would go crazy if I was doing all this myself!)
So it’s like $30 for me to put up a Kindle book….and they are being sold for $2.99 ! (By the way, $2.99 is the BEST price point for Kindle books. That is why you see so many Kindle books priced at $2.99).
So technically I am at a loss – but I have about 40 Kindle books now on Amazon and some of them (like Secrets-2) are priced at $9.99…and that really brings up the numbers.
And my Kindle books sell EVERYDAY. I can go into the back office (https://kdp.amazon.com/) and see that this is the case. And like I said, I am pulling in about $500 a month from Amazon from these sales. (I also have a big email list, and that helps a lot.)
What Stefan Pylarinos teaches in his Kindle course is that you have to put up ALOT of Kindle books to see any money…and he is right.
So it’s true what they say; it takes money to make money.
I am putting money into the Kindle books, but I am ahead financially, and that is all that counts. I am looking to put out a new Kindle book every week this year, so I should have something like 100 Kindle books up on Amazon by December of this year. I should be making $1,000 to $2,000 per month when I have 100 Kindle books…and I am being conservative here. It can be as high as $5,000 a month – or MORE. I will have to wait to December 2016 to find out!
Bottom Line: If you want to look into a way of making extra money AND you have some money to invest into this business, I recommend you take Stefan Pylarinos Kindle course. That is how I learned this Kindle business. And now he has an even better course…Kindle 2.0. Here is the link to his new updated course HERE.
Remember: It takes money to make money. Not a lot; it will be good to have at least $300 to invest in this businesses in the beginning.
Second, you have to WAIT and be patient. It will take a while for you to see the big money.
Third, the BIG Money will show up once you have around 100 Kindle books up on Amazon.