“Now, the honest answer that I can give you is that it depends. It depends on you and it also depends on what your goals are. Why do you wanna publish books on Amazon? Why would you want to build an Amazon book publishing business?
Maybe you love writing, maybe you’ve always wanted to write your own book, to be a published author. Maybe that’s your dream career. And that’s the vehicle you wanna leverage to share your message with the world.”
Stefan continues by saying “If that’s you, then I think you should pursue it. Book publishing is a huge industry, Amazon is huge, so the is there. The demand is there. And I have no doubt that if you really love writing and that’s the career that you wanna pursue, fantastic, you’ll probably be successful at that because you have that passion behind it.
You’ll do a great job and put in the work and the energy to put yourself out there, go on podcasts, market yourself in the media, et cetera.
On the other hand, if your goal is to make a six figure income or maybe a seven figure income, and you wanna become financially free, then maybe it’s not the best opportunity for you. Because, if I were to be honest with you, if your only goal is to make six or seven figures, then I could share four or five other online business models that could get you there faster and easier.
The challenge with publishing books on Amazon and trying to make big money is that you’re selling low ticket products.”
Stefan talks about what eBooks on Kindle typically sell for, around ninety-nine cents to maybe ten dollars. Not a whole lot of money. You could create maybe a paperback or an audiobook version, sell that for some additional revenue- sure. But if you want to make some real money off these books, you’d have to sell an awful lot.
Let’s just say Stefan doesn’t know anybody self-publishing on Kindle and making millions.
That isn’t to say that there are NO advantages to publishing through Kindle.
Maybe you’re a new author just starting out, looking for some exposure. You’re not going to make it rain money by putting your book on this platform, but you can get your book out into the world for almost no cost.
Kindle is great for beginners because it allows you to learn the ropes. See what genres work for you, experiment with titles and book covers. And if you find that people like your book, they’ll start buying and leaving reviews!
I’d recommend using Kindle as a way to generate leads for yourself. Use your readers to establish an email list and upsell them other products or from there. That’s where the real money lies.
You have to look at the big picture. On it’s own, Kindle isn’t going to make you 6 or 7-figures. Selling a book for 99 cents just won’t do that. However, Kindle can be used as a vehicle to help you on your journey to becoming a millionaire.
Or maybe you would just rather pick a better business model that is more direct. Even Stefan admits that Kindle Direct Publishing isn’t the first business model he’d recommend. Click the link below to check out my number one recommendation.
