Wealth Formula
Financial Education and Entrepreneurship for Professionals

Make Money Writing Ebooks on Amazon Kindle Part 4: Kindle Direct Publishing (KDP)

Here’s another post on how to make money writing ebooks on amazon kindle. Hang on tight because there is a lot of details here. I will also do a video to help you get this.  To this point, we have reviewed how to find a topic worth writing about and then how to use outsourcing through various contracting resources such as elance to get your book completed. When I say completed, I mean getting the book written, put into kindle format (important), and then getting a cover made. In each case, you must specify to your outsourcing person that you intend to publish you ebook on amazon’s kindle direct publishing platform.

The person who writes your book should be the one who puts the book in kindle format. If not, move on or it will cost you more money or time to get it in the right format. Putting a book into kindle format is no mystery. In fact, if you go to the amazon kindle site, you will see that there are detailed instructions on how to convert your Microsoft Word file into amazon format. However, the task is quite tedious and there are plenty of places to mess up. The best thing to do is to find a writer who is familiar with the format already and have them deliver it to you in an appropriate format. Make sure to also get a microsoft word format copy of the book as well so that you can submit your book to other markets at a later time if you decide to do that.

The next step is for you to create an author’s account at www.kdp.amazon.com. This very straightforward. Once you have your book follow the instructions CAREFULLY to download your book and the cover. Alternatively, you may outsource this as well if you are afraid you will screw it up. You will be asked for keywords and categories. Remember to stick to the principles of the previous blog posts to choose your keywords (ie. google adword keyword tool). When pricing your book, remember that it should be somewhere under $10 otherwise you will not receive 70 percent of the royalties. Again, I talked about this in a previous video so please refer back to them if necessary. The sweet spot for book pricing has been discussed by many authors and seems to be somewhere between $2-$5. In other words, this is the price at which more people are willing to download your book. Another sort of crazy thing to remember is that it is a studied FACT that if you are selling something, you will sell more of it if your price ends in the number 7. So, instead of pricing my books at $5, I price them at $4.97. Crazy… but true.

Finally, you ABSOLUTELY should enroll your book into the KDP select program. Here’s how that works–you agree to publish your ebook with ONLY amazon through the duration of the agreement (90 days). You may not have an electronic copy available anywhere else on the internet including your own website. In exchange, amazon will offer your book to amazon prime customers who “check out” books for free. Amazon contributes a fund to the authors that is split between them depending on the number of times it is downloaded by prime customers. So, it’s sort of a fund sharing program. This is in addition to the regular customer who has to buy your book the usual way. So, you are basically getting more money this way.

The bigger and more important issue than the additional money you get from the KDP select program is that more people will download your book. If more people download your book, your book will go higher in the search results and, as a result, will be purchased more often. Finally, enrollment in the KDP select program allows you to sell your book for free 5 days out of the 90 day contract period (it usually has to be at least 99 cents). Again, you might be asking why in the world it is it an advantage to give your book away, but the real goal here when you first publish your book is to maximize the number of times it is downloaded so that people actually find it on the amazon search engines (and actually google as you will see in my video). Offering it for free for 5 days gives you the opportunity to get lots of downloads on the record, increase your rank and visibility, and ultimately give yourself a better chance to sell your book in the future. The topic of the next post will cover promoting your book during your free days in much greater depth. After three days of my promotion strategy, 2 of my books were downloaded over 1500 times and one was downloaded just over 1200 times. All three books are in the top ten list for their category. PLEASE ask questions or comment on my post or video. It will help me provide you even better content. Hopefully after my next post on book promotion, you will have all the tools you need to make money writing ebooks on amazon kindle!

 


  • http://www.soniaroselli.com Sonia Roselli

    Hi,

    I couldn’t agree more. I have worked very hard to do this myself and have complete creative control.

  • http://www.studentdebtsurvivor.com KK @ Student Debt Survivor

    I’d never thought about publishing ebooks on Amazon Kindle. Going to go back and read all of your posts. Smart strategy finding a category that will be popular this time of year (and always really-someone’s always trying to slim down).

    • Buck Joffrey

      Thanks! I’m hooked on this myself. I am about to post my latest video that shows how you promote your ebook. Hope you like it. Best

  • http://www.studentdebtsurvivor.com KK @ Student Debt Survivor

    Already saw the increase in my payroll taxes. $50 less in my paycheck.

  • http://www.timthompsonshares.com Tim Thompson

    Thanks for the lesson as you stated online costs are a small fraction of brick and mortar. But lessons learned at another’s expense, when shared, is the cheapest lesson to learn.

  • http://www.soniaroselli.com Sonia Roselli

    This couldn’t have come at a better time! I was just telling my husband that we need a better financial plan.

    Every year everyone makes a resolution to get into shape. This is the year we get our finances in top shape. I think this may be easier than loosing the last 20lbs.

    My husband and I were both hit hard in 2008 when he was laid off from his job. As a small business owner myself, we relied on his income for health insurance, etc that a stable jobs come from.

    He was without a job for over 3 years while my income took care of all the bills. We managed to pay our bills on my salary but our house was $200k underwater and eventually we had to walk away. It was the worse feeling ever.

    In 2012 we walked away from our house and now seem to be feeling ok again and are on the upswing. My husband has now had a proper full time job for over a year now. While he isn’t making as much as he did, we are doing better but we still “nickel and dime” ourself broke most months.

    After the journey we have taken, 2013 is the year we get financially fit. Thank you for these blog posts! They are very informative and keep me on my toes.

    Best,
    Sonia

  • http://whitecoatinvestor.com White Coat Investor

    Good tip. Thanks for sharing your experience publishing ebooks.

  • Pingback: amazon ebook publshing()

  • http://www.authormarketingclub.com Jim F. Kukral

    Thanks for talking about our Author Marketing Club. We’re glad you enjoy the service!

    • Buck Joffrey

      Thanks Jim–love the service even without an affiliate program :)

  • Eric L

    Buck,
    I found your two podcasts on iTunes and really enjoyed listening to them. Keep up the good work.

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