Kindle Income – May 2015

Image result for kindle
Hi all,

I’m starting a new monthly post on Kindle Income. This is in part because I don’t have enough to do in my spare time, but also to notify you all on how much I’m making on Kindle each month. This process keeps me accountable and hopefully gives you an insight into the world of Kindle Publishing. 

I’ve separated the numbers into 3 columns – Kindle (ebooks), Createspace (paperback), ACX (audio). The numbers in black, regular font have been paid to me. The numbers in italic grey are yet to be paid, and are predictions based on the current exchange rate. Once they’ve been confirmed, I’ll change them to black and regular. Amazon pay you 60 days after the month end, so I’m getting paid in June for the sales I made in April. Does that make sense?

Without further ado, lets have a look at the numbers so far. 


Kindle Createspace ACX
January
February
March £9.50
April £51.47
May £101.03
June £243.17
July £376.08 £5.22
August
September
October
November
December
2015 Total £781.25 £5.22 £0.00
2015 Average £156.25 £5.22 £0.00
Combined Total £786.47

I’m close to having June’s payments confirmed, and they appear in my account at the end of the month, so hopefully they’ll be in black soon. 

Kindle
I have 24 ebooks on Amazon selling currently. I’m hoping to increase that to around 28-30 by the end of June, or the half way point!

Kindle sales have increased nicely since I’ve been applying the techniques I learned in my coaching sessions, especially for marketing/promoting etc. 

I ran the sales numbers for June on 15th to see how I’m looking half way through the month. With direct book sales and Kindle Unlimited downloads, I’ve made approx £216.51 so far. If I replicate that result for the second half of the month, I’ll finish on £433.02, which is very pleasing!

Createspace
I had my first 2 books out in may, for just a few days, but I managed to get my first 2 sales, which I was delighted with. I’ve been selling 3 paperback books for the first half of June, and I’ve just released my 4th and 5th book just days ago.  I’ve made £36.59 from the 3 books so far in June, and I see no reason why I can’t improve on that number having 5 books selling and another 3 on the way.  If I were just to replicate my performance for the second half of June, I’d finish on £73.18, which is a lot higher than I was expecting. For anyone selling kindle books, it’s a given to sell the paperback version as well. The sales are slightly lower, but the revenue and lack of costs (as you’ve already paid for the work) make it a no-brainer investment. I only need to sell 2-3 copies to get my money back. My best selling paperback book has sold 17 copies in June alone so far. 

ACX
Following on from Createspace’s easy revenue tactic, I went down the audio route as well to see how much potential is there. 

I’ve learned that the process takes significantly longer to complete. I can get a book on Createspace within a week. It takes a month to get on on ACX. I now have 2 books selling on ACX officially, and 1 to be confirmed, and as they’ve only just gone live I haven’t made any sales thus far. 

There are 2 main options to making money on ACX. One route is the 50/50 route, the other is buying the full rights. I’ve tried both to see how they work out.

The marathon book is a 50/50 option which I don’t even pay for. An american voice artist records and produces the book, I check it and approve it. Once Amazon approves the book (2-4 weeks), the voice artist and I make 20% on the sales each. I have no idea how many sales I’ll make but I’ll keep you posted.

The other option is paying the voice artist to record and produce the book. I’ve paid a similar price for a standard written book, which remember, I’ve already paid a writer for – £40-60. So, £80-£120 for both written and audio. (Createspace on the other hand costs $5 for a cover, and I choose to pay someone $5 to format it for me).

When the paid audio book starts selling I take 40% of the profit, so we’ll see how it compares over time. They both have advantages. 


Summary
Createspace’s income combined with Kindle puts me on track for £506.20 for June. I’m hoping with further Kindle books, Createspace books, and ACX sales, I’ll be able to surpass this amount, but don’t get me wrong I’m delighted with this number. 

It puts me right on track with my 2015 goal of earning £1,000 per month on Kindle by December. In honesty, I’ve worked harder, more effectively and efficiently on Kindle over the last 4 weeks than I have for the last 5 months. I believe that with my current process, I’ll be close to releasing 100 books by the end of the year and earning something close to my current salary. That’s the plan anyway!

Don’t take my word for it, check in here and find out for yourself. I prefer to prove myself via actions and results rather than speculation, even though I can’t resist cheeky predictions and bold goals!

I just want to say a special thanks to all of the amazing emails, comments and messages I’ve received. Kindle has taken my time away from Blogging, but I believe this time is well spent, and will eventually lead to me going alone full time, which will in turn allow me to write on here more regularly, or more likely, on my own platform!

What do you think of the new Post? – “Not another bloody Kindle post?” or “So that’s what he’s been up to?” or “Who are you again?”

0 Comments

  • Tawcan

    Reply Reply 18th June 2015

    That's pretty solid income for selling ebooks on Amazon! Congrats to you!

  • Dividend Legion

    Reply Reply 18th June 2015

    Hey Huw,

    Wow, you're making incredible progress with Kidle sales, man! I've been looking at alternative income methods lately, and selling kindle books is one of the options I'd like to look into further. Seeing your actual results has helped me believe that this is a viable option – Thanks!

    Keep it up, looking forward to reading more Kindle updates!

    DL

  • Chris

    Reply Reply 18th June 2015

    Hi Huw

    Many thanks for this update.

    I'm trying to get an idea of effort:reward here, both in time and financial outlay. I appreciate there is a lot of pump-priming at the outset, developing the idea, briefing the writer, editing/revising then publsihing. But what happens then? Are you expecting all publications to perform consistently over time (ie one does really well and generates, say, £50 pm and another generates £5pm) or do you expect each one to peak and then decline?

    You mention the sales effort also required – what's the cost/time involved with that?

    Cheers!

    Chris

  • Andrew

    Reply Reply 18th June 2015

    Man I love that revenue growth! I just wish I had time to do it myself.

  • weenie

    Reply Reply 19th June 2015

    Hi Huw
    A long awaited but great update on your Kindle sales – well done, very impressed with the sales and income and with your hard efforts at making this work. I'm still trying to get my head round how you see the sales match your current salary – just goes to show what hard work, focus and great effort can get you, considering it's taken such a short amount of time to even get to where you are now and you are showing such big results.

    You must be really proud of your progress and I for one look forward to following your success with this!

  • Huw Davies

    Reply Reply 19th June 2015

    Thanks Tawcan. I really appreciate it!

  • Huw Davies

    Reply Reply 19th June 2015

    Hi DL,

    Thank you very much. It's a real money maker for anyone. The return on investment potential is huge!

    For example, my best seller cost me £71 to create. It made me £163 on kindle sales alone. Not a bad ROI in one month! Admittedly they don't all turn out like that, and I like to base it on the average. I'm making something like £18 per book per month when I consider everything. That includes my best seller and my books that didn't sell anything in a month.

    Kindle is much more than a nice little earner. It's my ticket to FI, and it's changed my life forever.

    How?

    Easy, just multiple £18 per month x 100 books or even 200 books and what do you get – £1,800 pm and £3,600 per month. This is just Kindle. It's not including Createspace and ACX, future coaching, selling through the back end etc.

    Thanks for the support, I would recommend doing it to every person on the planet.

    Cheers
    Huw

  • Huw Davies

    Reply Reply 19th June 2015

    Hi Andrew,

    Simple response to this one I'm afraid. Make the time!

    I wake up at 5am to put 2 hours in before work, and I put 2-3 hours in a night after work and weight training. Do I want to? Not really, I'd prefer to be Blogging, hanging out with mates or chilling, but I'm looking at the bigger picture.

    Granted I don't have kids and I have regular work hours, but I've worked with a parent who dedicates just an hour a night to the project. He's close to having 10 books out now, and he started in Feb. Can you find an hour a day to do something you want?

    All the best
    Huw

  • Huw Davies

    Reply Reply 19th June 2015

    Hi Chris,

    No problem at all.

    I'm not sure if you've read the responses I've given above, but I do 2 hours in the morning before work, and 2-3 hours a night. On weekends I put in 4-8 hours a day. This is all optional, but I wouldn't have it any other way.

    It's a slow starter, but once you know the system, and you have processes in place, it really starts to take off.

    I'm not expecting all books to perform consistently over time. The better the book, the longer it will keep selling, but I am focusing on getting numbers out there as £18 per book, per month was achieved in May. The more books I have, the more likely it is for them to take off. I'm still new to a marketing/promoting technique which I'm yet to see the full results from.

    Kindle leads to Createspace, ACX, and back end sales. I'm hoping to do coaching and getting into internet marketing once I have more income on kindle.

    Have I answered your question?

    Cheers
    Huw

  • Huw Davies

    Reply Reply 19th June 2015

    Thank you weenie!

    It's really a numbers game. I got £18 a month from Kindle alone, so if I get 50 to 100 to 200 to 400 books out there the income will be unstoppable. I intend on reinvesting some of the money to create new books, but I'll be investing the rest of it to get to £250k retirement much quicker.

    I'm focusing on up-scaling and getting people to work for me so I can make the step quicker. If I were doing this full time, nothing would stop me!

    I'm delighted with £500 a month at the end of June, let's bring on the bring £1,000 by December and then some!

    Watch this space!

    Thanks again Weenie
    Huw

  • Awesome post!

    A few thoughts/questions:

    "This is in part because I don't have enough to do in my spare time" – Surely you are being sarcastic here!? 🙂

    What are "Back end sales"?

    General comment: I am very impressed at how quickly you've grown your revenue from this as has everyone else been. I think the key is sticking at it. You may get people release one or two books and earn £9 in their first month as you did in March and get disheartened by that and give up, yet as you rightly point out you could see the big picture from the offset and knew that it was all about getting the numbers out there!

    I love the idea of this method of side income and will definitely be looking at what it can bring me when I get a little time on my hands as well. 1 hour per night would be fine but I'd literally have to give up blogging which I don't want to do right now as I'm having too much fun with that (although clearly not making any money on it! bah!). With free time coming up soon though I can wait a few months before checking it out properly. I don't think I'd be looking to conquer the world like you are but getting say 50 books out over the course of two years would be a solid goal for me and hopefully a solid income to diversify my income sources. I wouldn't want to put all my eggs into one basket but then again I suppose if I was seeing the work/reward payback you are then maybe that would change my mind!

    Cheers again for all the extra info you keep releasing on this, it's fascinating stuff.

    TFS

  • Huw Davies

    Reply Reply 27th June 2015

    Hi TFS,

    Thank you very much. I glad you enjoyed it!

    You got me….. there was a little sarcasm in the post. I regularly seem to take on too much, and yet I thought adding an additional monthly post to my already irregular posting was just what I needed! 🙂

    'Back end sales' are sales made after the customer has bought the book. For example, my marathon book could contain a link in it to sign up to Richard Bond's email list, so when I release free books, you can download them straight away. People will sign up for this to get the free books and in return I'll get their email address. You can send the person useful information on running marathons, equipment, training etc to make it worthwhile joining, and every so often you can recommend products to buy. Let's just say it's an Amazon book on a Marathon Diet Plan. I could endorse it, send it out to everyone on the list, and some people will be interested in it and buy it. I would then make 'back end' commission from my Kindle books. Does that Make sense. I haven't done this yet, but I'm working on it.

    I totally agree with your general comment too. Some books stick, others don't, and I've found I have little idea as to what will work until it's out there. The key is progression and releasing more. The formula works, so it's just a case of putting more books out there to make more money.

    The biggest way you can fail at this is not releasing more books. Think of it like investing – If you invest in a single company and your investing experience and future investments rest on the performance of one stock, you're not giving it full justice. You really want to make at least 10 investments, or a couple of Index trackers that have 100's of companies within it to really see what it's like and stick with it. My Goal at the start of the year was 50 books and to see how it goes, but I can tell already I'll be doing much more than that. I'm pushing for 100 this year now.

    I miss Blogging regularly, but the more I Blog, the less time I spend on my book production. I want to keep the Blog ticking along until I can buy my freedom from work and dedicate more time to it. That's the sacrifice I'm making, but I totally respect and understand your decision. I'm already looking forward to easing back on Kindle in future, but I have to build my foundation first. Delayed Gratification baby!

    As a form on income Kindle is amazing. Even if you decide to do what Dividend Mantra did and write about something you know a lot about and are passionate about, you can earn a lot of money – Especially with his fan base! The thing is, you don't have to have his monthly hits to create a successful book, nor do you even need a Blog. I'm making up pen names, like Richard Bond, and making good ROI from it. For example the Marathon book was my first book. It's cost me £82, which is more than most of my books now. It's made me £168 up until the end of May, and June has been a great month for it too, so it's like to be £250+. There aren't many investments out there that can produce those returns! I'm not saying all of your books will get that return, but that's not my biggest earner either….

    I'm glad that you're still sticking by my Blog and passing on support. It means a lot and I really appreciate it!

    All the best
    Huw

  • Hi Huw,

    Thanks for answering my questions and the extra info. I still think you're blogging regularly enough to keep people interested so I wouldn't really worry too much about it. I think I actually get more put off when blogs have too many posts rather than a more minimalistic posting schedule as it starts to feel like your inbox is being spammed by just one blog 🙂

    Cheers again!

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