Amazon Kindle Publishing As A Side Hustle?

THE IDEA

Self-publishing is no longer a slow, rejection-filled process. Now, you can earn a side income by self-publishing eBooks on Amazon.

PROS

  • It’s completely free to self-publish and sell on Amazon.
  • It’s fast. Once you upload your manuscript and eBook details on Amazon you can expect to see it live (and ready to make sales) in 12 hours or less. Plus, you can continually upload revised versions.
  • Amazon has a large database of customers. And self-publishing on Amazon tends to sell more books than any other platforms. Plus, the amount of eBook sales are growing and outperforming traditional paperback books.
  • You retain all the rights to your books.
  • You can earn 70% royalties from your book (if it’s priced between $2.99-$9.99). If it’s out of that price range expect 35% royalties. Either way, this is much higher than traditional publishers that typically pay 10% or far less.
  • You have full creative and marketing control. You decide the topics, the length, the style, the pricing, the marketing strategy, etc. There’s no one, except your target audience, telling you how to do things.
  • Amazon also has a decent stats tracker where you can review the sales of each book you’ve published.
  • There are other ways to monetize. You can create paperback versions of your book via CreateSpace, narrated versions (Audible), and join in on other Amazon programs (KDP Select) to help increase your earnings.

CONS

  • There’s an enormous amount of competition. The ease, speed, and zero cost of publishing has created thousands of competing authors in virtually every fiction and non-fiction genre.
  • There will be costs involved if you won’t be doing everything. If that’s the case, you can expect to pay for someone else to write the book (if you outsource), editing, formatting, book cover design, and promotion.
  • There’s no publisher to help you. So you’ll need to be in charge of marketing your products, building an audience, managing reviews,  book research, book publishing setup, writing the book description, and so much more. I always preach that every opportunity is a process and self-publishing is no different. You can’t expect to upload mediocre books and start swimming in passive income.
  • The first payment you receive will be 60 days after the end of the month.

VS Digital Flipping

  • I actually like self-publishing on Amazon for beginners. No upfront cost and the amount of customers on Amazon makes it beginner-friendly. However, there are some advantages if doing the Digital Flipping methodology instead.
  • First, there’s no upfront cost with Digital Flipping either. But the advantage is you get paid much sooner. Once you close a deal and deliver the work (which you outsource) you’ll get paid in 5 days. So if you’re beginner that needs to receive your earnings faster this would be a more favorable approach.
  • Secondly, with Digital Flipping, you don’t do the work. You won’t be writing, editing, designing book covers, or building an audience. The way Digital Flipping works is, let’s say, you find someone that wants an eBook written for $400. You’ll then find an expert to do it for, let’s say, $150. Then you profit the difference. By the way, you’ll only pay the expert once the $400 (that the buyer is willing to pay) is secured in escrow. So this is virtually risk-free. With self-publishing, any investments you make have zero guarantee. You’ll have no idea how many books you sell.
  • Also, with Digital Flipping, there’s far less competition. For each deal, you can see how many other people are bidding to win the job. This is, usually, only in the 5-20 people range. At max, 50 people. This is far less than the amount of authors on the Amazon platform. Plus, your competitors aren’t usually the best salesmen. So this gives you an advantage because in my course I share word-for-word the proposal script to close lucrative deals.
  • There are a lot of legit ways to earn a side income. Self-publishing on Amazon is actually a great one. However, if you’re an absolute beginner, I’d recommend getting some confidence and building up some funds with Digital Flipping first. Then you can use those funds to outsource writing books on Amazon or any other business. Now, I’ll be sharing more advanced and lucrative business courses. But these require bigger investments and experience. And you’ve got to start somewhere first. Digital Flipping is one of the better options to start with.