If you want to go the self-publishing route then you must learn how much are you going to earn. Learn how much an average author is making as well as how much can you make self publishing on Amazon.
Today's question has three answers and you are going to want to stick around for the third answer. Because it is a secret that will help you to not allow other people's earnings to destroy your earnings.
So, let's get into it. The question that was asked to me was how much can you make self publishing on Amazon? I completely understand this question.
If you're going to use all of the time to write a book and you are going to put it out onto Amazon, we want to have a general idea of what money can we expect to start coming back.
So many people are like, "well, if I'm only going to earn a few dollars, maybe that's not worth it or am I going to earn a million dollars?" What exactly is a reasonable amount of money that you can make self publishing on Amazon?
Before we get into the answers, check out my free Self-Publishing Secrets Checklist to help you get started on your journey.
Now, let's get into it. When I first started self-publishing, I read some books and watched some videos, took some courses, and listen to podcasts. I quickly discovered that you can actually not make that much money if you aren't following the rules correctly.
Check out this related article: How To Start Self Publishing With Amazon Kindle?
When I first started, they didn't care about markets. The only thing I cared about was picking a topic that I was interested in. In my case it would be goal achievement, what exactly does it take, or building habits.
These were books that I started writing about because I had been studying on these subjects for several years. I wanted to figure out what exactly was the best way and I wanted to share that with the world.
Not Earning That Much
So, I started publishing books. That was when I discovered with publishing on Amazon, if you put a book out there without studying any of the strategies and tactics, well you're going to sell the copy every couple days or so.
It is not much more than that. You may not have reviews on any of the books, the cover may be lousy, the keywords may be off. Nobody there may even be a market for the topic that you are writing on.
There may be an oversaturated market. There's just so many different things and factors that involve if we're trying to figure out the answer to how much can you make self publishing on Amazon?
The first is the average author is earning only $1,000 a year on Amazon. It is pretty lousy considering all of the work and effort that goes into creating these books. So then many people will say, "well then why should you even bother at all?"
The answer is because if you are following the correct strategies, we can drastically increase that figure. If you are following the correct rules then you will find that the earnings so to reasonably earning between $12,000 and $100,000 per year.
Now, some people are in a million dollars a year but we are not focusing on them. Rather just focusing on the fact that it is reasonable earnings to be pulling in $1,000 a month. Making 10 to 12 times what the average author is making.
The reason being is because the average author simply is writing in a market that doesn't exist. So, I use a tool called Kindle Spy to find which markets are good to write in which topics have very few books and there's a lot of books being sold in those topics.
I also run ads and that also is key to driving the traffic. Many authors have the idea that "look, I wrote a book where I have written it and now I should just make money by putting it out there".
Don't Be Discouraged By Competitors
I don't have to worry about the cover, the description, the keywords, the markets, and running ads. Also with the formatting where I use Jutoh to put these books together to get them to sell.
So what happens? That is where you make a thousand dollars a year which is lousy. You can do so much better many of these books are already high-quality. The people just didn't realize it but that brings us to our secret answer of the day.
Check out this related article: Is Self Publishing On Amazon A Good Idea?
It is that you should only compare yourself to yourself because your competitors are going to kill your motivation if you see that they are earning so much more than you. Their books maybe or even lower quality instead we look not at their earnings but the fact if they're doing better than you.
We would look and see people who have done and been down that path that you've been on. They can help you both with coaching and also seeing how their earnings got the way that they are.
In other words, you can see what tricks they are putting in place the best-sellers in the category of the books that you wish to put through. What are they doing that's different than what you are doing.
Those people can give you that but do not look at how much of their earning. Otherwise, it will kill your motivation and therefore you will end up being at one of these $1,000 a year authors or worse as you lose focus on your writing.
I hope that made some sense to you. What have you found? How much can you make? How much have you made self publishing on Amazon?
Go ahead and tell me below in the comments. I would be very interested to hear. Check out my other blogs and videos just like this one.