Make $45k a Year Writing for the Kindle?

So I have been messing around with the Kindle all year. I think it is an amazing idea. More and more people are buying them and it is so easy to buy a book on one.

I know I keep seeing these charges on my statements. My wife, kids and I spend over $100 a month just on Kindle books. Now I know we aren’t normal :)  Most people dont do that – but I bet as time goes on it will become mainstream. It is just easier. It’s so convenient.

Here’s an example what I mean. Last weekend my teenage daughter forgot her book at school and had a big test on Monday. She was freaking out. We tried calling around and couldn’t get anybody. So on a whim I decided to search it on the Kindle – and sure enough they had the book she needed on there for twelve bucks. So I bought it for her. It was a life saver in her mind and another eye opener in mine. They just made twelve bucks the EASY way. They didn’t have to hard sell me… They didn’t have to do anything special at all – they just had to be in there. I needed the book right then and I was able to get it right then so it was a layup sale.

As the kindle gets more and more popular and is in everybody’s home this is gonna be more and more prevalent. When people need help with something they will just search it up on the Kindle. People do this with search engines all the time… but with the results of those searches often being manipulated or less than reliable it will be easy for Amazon to slip in under the radar and get a lot of that traffic.

Another reason I think Kindle is poised to grow is that they are trying to cap the price on the ebooks at $9.99. They are doing this by offering a much better royalty structure for books priced between $2.99 and $9.99. If you are an author and write your book – you can make 70% royalties on books priced within those limits. If you are outside those then your royalty drops to 35%!

The reason this is powerful is that people will take a chance on a $2.99 book. I know I have. If it sucks then it isnt the end of the world. If its great then you might have found a great source of cheap entertainment or a great cheap resource if the books are nonfiction.

Ok… hopefully I have set it up successfully. There are lots more little details about the Kindle that I will share in more posts later but the point here is that I think you can make a good living writing for the Kindle.

Here is how I think you can make $50k a Year with the Kindle

I always have crazy little ideas. My wife used to call it the idea of the day. In any case, I came up with the idea of writing a Kindle book about one of my crazy little ideas. I thought I could easily make some quick cash by using the site craigslist. So, first thing I did was test out my idea.

The idea was simple. There have to be people on craigslist who are just trying to “give away” some good stuff. By give away I dont necessarily mean they are literally giving it away – but that they are in a situation where they just want to sell it fast. And they are willing to sell it cheap!

So, I went on there and started looking. Sure enough I found this little piece of furniture that was very cool and old looking. The owner was selling everything and wanted to move it. So I made them a semi-low cash offer and said I would come pick it up within the hour. So, I went over there and bought it cheap and took it home and cleaned it up really good.

Then I re-listed it on craigslist. But I made a much better picture of it. Wrote a better description. Doubled the price. Listed it in a nice area. And sold it in a day. Made just under $200 profit in 2 days time!

Since this was just an idea, I documented everything I did. I took screenshots of my emails. I took pictures. I just recorded my whole process. Then I turned that into an ebook. Its about 45 pages long. The ebook just breaks down the exact process. How to find the deals and then resell them for more, etc… Simple book based on an idea. The whole process was less than a week. Actually I believe it was only 3 days. It only took me one long day to actually write the book.

I put it on sale on Kindle about 8 months ago. I have made between 20 and 50 sales every month. I sell it for $2.99. I make $2 on every sale. It took me probably 10 to 14 hours total to complete it.

I am making between $50 and $100 a month on the book. I don’t have to do anything to make that money. (Actually I did just try a promotion method that has doubled my sales from 20ish to 50ish each month)…

So, here is where the math gets interesting.

If I can write one book like this per week then I am looking at having 50 books on Kindle like this in a year’s time. Now, there are plenty of worthless books on kindle that completely suck. I am not talking about that. I am talking about writing good and helpful books. I am currently working on a book that shows how a little tweak helped my kid make straight A’s for the last 6 years. REAL stuff that helps like that. Those kinds of books will keep selling forever.

So, with 50 books selling $50 a month apiece on the low end. That means $600 a year per book and $30k a year. Now, if you split the difference between my results you are looking at $45k per year. Not too shabby.

So, you are working 10 hours a week for 50 weeks. 500 hours. $45k. That works out to $90 per hour. That number sounds pretty nice too. But here is the real reason this is huge – in year 2 you make the $45k with ZERO hours worked! Now that is only if you write GOOD books that are worthwhile in the long run. But that isn’t all that hard if you are willing to do the work. It is actually pretty fun!

I know there are plenty of people right now who are coming up with reasons in their head why they can’t do this… don’t have the time, can’t thing of ideas, etc… Well, think about this – what if you just do it? The year is gonna pass either way. If this worked just on the low end it means an extra $2500 a month. What would $2500 a month mean to you?

But again the most powerful part of this is the passive component. You own the books forever! You will do the work that one time and make money for a long time. If you did that for 5 years the numbers get crazy. That is why this is a very exciting time for people who are willing to THINK and also WORK very hard. I am seeing passive income 8 months later and I have long forgot the little bit of work I did to write that book :)

Let me know what you think about the Kindle for passive income in the comments below!

Anthony Guastella November 29, 2013 at 5:12 pm

I believe this is an excellent program and would like to start. Any suggestions would be sincerely appreciated. Thank you.

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