Well the month has just finished and while 5 Simple Rules has only been up since the 8th July I thought I’d report on my progress so far.
As of today I have sold 10 copies.
10 copies that I’m actually pretty thrilled with given it’s my first month (indie authors usually notoriously have low numbers in the first few months) and that it’s a book on the stock market (not exactly a hot topic right now).
So for 10 copies at $2.99 my royalties are: $18.34 (8 @ 70% + 2 @ 35%).
(Less the stupid 30% tax that they’ll take out before they send me a cheque because I’m not a US citizen and haven’t bothered to fill out all the IRS tax forms yet – but which I can still claim back through the Australian tax system under foreign credits so am wondering if I really will bother about the forms anyway).
What does this mean? Does it mean that you can make money being a nonfiction indie author or not?
Ahh do not give up grasshoppers because like I said this is my first month. Plus it’s the only book I have up on Kindle so far (actually that’s not entirely true – I just uploaded a romance erotica short story under a pen name – just to see – too early to tell about this genre yet though).
The real key to making money with the Kindle is to have lots more books up. So this month I’ll be working on the second of my simple rules books. This one will be more a general personal finance topic rather than a specific stock market title. I’ll continue with the stock market books once the market heats up again (which it will –interest in stocks is cyclical and when the economy recovers there will be renewed interest in the topic again – at which time my book will be waiting patiently in the wings ready to say – hiya there big boy).
But the second book will help give me more exposure and should boost sales of the first one as well.
Ask any successful author and they will tell you that an extensive backlist is your key to indie riches. So basically – write more books!
Of course, as an internet marketer, I ALSO know the secret to selling more books is a good highly targeted blog.
Currently my brand new blog has received 139 visits. I have no idea at this stage how many of these visitors were converted to sales yet, but anyway 139 is still quite low. Still not to worry – that’s 139 potential book buyers that I didn’t have a month ago!
Although more promising is that I’m ranking (albeit not very highly yet) for investing in the stock market. My plan is to increase my rankings for this term through internal linking and key outside backlinks over time.
My best ranking post is the one I wrote on avoiding penny stocks – a topic I feel quite passionately about – although I suspect most people searching for information about investing in penny stocks want to know HOW to do it, rather than be told it’s not a good idea. Ca sera sera.
It will also be interesting to see how the short story I wrote a million years ago does. I found it while cleaning out my filing cabinet. I wrote the story when I was much younger, and obviously much less un-inhibited seeing that it has a rather raunchy sex scene. It’s very short at just over 2,000 so I’ve priced it at just 0.99 cents.
I’ll let you know how it goes when I get the reports next month although I’m not sure if I’m ready to become a well known erotica writer! LOL. I prefer my nonfiction work. But it if does sell well then I may have to rethink things a little.
Talk soon rockstars!
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