This post may contain affiliate links.
In this blog post, you’ll get my thoughts on Kindle Publishing. Is it a quick way to make money online? Well, it depends on what you mean as quick. We were able to reach around $5000 per month within six months. So for us, it did go pretty fast, but it’s important to remember that we invested a lot of time and money into the business before we reached that point. We did not take out any money from the company the first six months. Everything that we made got reinvested in the business. You also have to remember that you have to wait 60 days before you get paid for your sales from KDP (for CreateSpace and ACX it’s 30 days). Now, I do believe that it’s a quick way to make money compared to a lot of other businesses.
Online Businesses vs. Brick and Mortar Businesses
Believe it or not, making a profit after six months is splendid. If you were to start a brick and mortar business, like a restaurant or something like that. You might be looking at six years before you make any return. Now, keep in mind that we could have profited a lot sooner in our publishing business, but we chose to reinvest. There are fewer operating expenses in an online business which is a huge advantage in my opinion. Andrew Carnegie, who was once the richest man in the world, said: “Watch the costs and the profits will take care of themselves.” I’m pretty confident that if Carnegie were still alive, he would have taken advantage of the opportunity that we have called the internet.
Is Kindle Publishing a Simple and Fast Way Compared to a lot of Other Online Businesses?
Okay, let’s compare Kindle Publishing to some other online methods out there. Please keep in mind that there are hundreds if not millions of ways to make money online. The content in this blog is from our experiences and our knowledge at this stage.
Affiliate marketing vs. Kindle Publishing
Both these business models are beginner friendly. Affiliate marketing is a business model where you recommend other people’s products or services and get a commission if the customer buys through your “affiliate link.” From my experience and from what I’ve read and heard from other people is that it can take a while before you make any money from affiliate marketing. You can, of course, earn money a lot faster with affiliate marketing if you’re buying traffic. But typically I think you’re looking at around six months before you can start to see some return on your efforts. Affiliate marketing is a low-cost business to get into as well which is great. However, I do believe that Kindle publishing is the best way right now to start making money online as a beginner. You can get sales the same day you publish the book. Getting some sales fast will motivate you as well. If you’re a beginner, there might be a level of discouragement if you work a couple of months without seeing any result on your efforts. What’s great about both of these two business models is that they are passive income businesses.
Drop shipping vs. Kindle Publishing
Drop shipping is a business model that I like. Here is how drop shipping works:
You can either sell through a website that you’ve created or list products on sites like eBay. You’re the one taking the order from the customer and then you order the product from the “source” which could be the manufacturer or retailer. The source then ships the item to the client. You make the profit when you sell the product for a higher price than what it costs you to buy. There is not much risk involved in this business model since you can purchase the product after you’ve received the money for the sale.
However, from my experience, drop shipping is not as good as Kindle Publishing. It can take a while before you get traffic to your website if you’re doing drop shipping that way. It’s also not as passive as Kindle Publishing. At this time, I would choose to start with Kindle Publishing if I would be a beginner to online business even though drop shipping a good business model. I do believe that Kindle Publishing is a faster way to make money online compared to drop shipping.
Some other Online Business Models vs. Kindle Publishing
I want this blog post to be easy to consume and straight to the point. Just like I mentioned before, there are a lot of ways to make money online. For example, you can sell video courses, flip domains, do freelancing, offer coaching/ consulting and a lot of other methods. But again, from my experience, nothing compares to Kindle publishing. I’m not saying that it always will be a great opportunity because things might change. But right now it is, so I think you should at least try it out to see for yourself.
Where to Start?
My honest opinion is that if you want to be successful with Kindle Publishing, you should invest in yourself first before you invest time and money into producing a book. That means doing what you’re doing now, reading blog posts and watching videos about the topic but more important, going through a course. If we had not gone through a course on Kindle Publishing, I’m pretty confident that we wouldn’t have made it. Here’s the reason why: Kindle publishing is a business opportunity. Now, where there are business opportunities, you can be sure that there will be competition. If we wouldn’t have gone through a course, it would not only have meant that we would have wasted more than 50 hours trying to figure it out, but we would also have missed out on valuable knowledge that could have increased our revenue. The fact that you’ve invested your money will also work as a motivator. We’ve spent over $1000 in online courses, and sure enough, it motivates us to follow through, just because we have some skin in the game.
We started with K Money Mastery, and that’s the only course we’ve taken on Self-Publishing so far. The course has a 30-day money back guarantee as well which makes it a risk-free purchase since you can get your money back if you want.
I do recommend that you look at free resources once you’ve mastered that course. The learning should never stop.