If you have read my previous post about how to sell ebooks in iBookstore and other major publishers such as B&N, you know I’ve created a new stream of income by writing and self publishing ebooks to Apple iBookstore. I’ve blogged about my sales and income for Apr.
Before I had done much, May was over and it was already middle of June. For the past month, I’ve continued to publish ebooks using freelancers from Elance. Without them, I will not be able to progress as fast as I want. Time is limited to only 24 hours a day. I need to use other people’s time to my advantage.
Having said that, let me shared my progress with you.
Number of eBooks published in May 2013
I’ll continued with my plan and make an effort to keep working on this project to make it grows. I’ve not set myself any target, and I don’t know how far this project will go. Anyway, it’s not taking too much of my time as I’ll just be involved mainly in the planning and managing parts. The rest of the work will be done by my freelancers.
I’ve not reported the numbers of ebooks published previously. However from May onwards, I’ll keep a record of the number. It can tell me several things such as my ROI (return on investment), cost per ebook sale and the trend (more ebooks = more sales). These are some interesting figures which I can share with my readers.
As of May 2013, I’ve successful published 16 ebooks. In total, I’ve published 57 ebooks. These are my employees, my friends who are working hard for me daily. The more I published, the bigger my army becomes. Right now, I’m targeting to hit 100 ebooks by end of the year. 43 more ebooks to go.
Number of eBooks Sold
Compared to Apr, the number of ebooks sold increased slightly. In Apr, I’ve sold 271 ebooks (including free ebooks). In May, I’ve sold 293 ebooks (+8.11%). I’m quite happy with the 8% increase in sales, month over month. As long as the sales numbers keep going up, I think I’m on the right track.
Income for May 2013
Finally we’ve came to the finale. This is the number I’ve been waiting for every month. My income from the sales of all my ebooks. In Apr, I managed to get $83.36. In May, I got $98.03 (+17.6%). Wow! I’ve just missed the $100 mark.
I’m very happy with this figure. With just a small increase of 8% sales, I managed to increase my income by 17%. One of the main reasons was because I had increased the price of the ebooks published in May to $3.99/copy, up from the usual $1.99. I’m still doing a split test to see what’s the optimal selling price for these ebooks. If the price goes up, the sales go down. I need to find the balance.
My Plan for June
In June, I’m going to stick to $3.99/copy and I’ll like to see the figures before I’ll decide further. I have to collect more data and analysis more for this business to run at the peak.
I’ll continue to get my freelancers to write to me, and I’m still thinking of ways to publish as many ebooks as possible. Right now in May, I’m close to hitting $100/mth from these ebooks. If nothing goes wrong, I’m targeting $200/mth by Dec 2013. It’s not a big, unachievable goal. If it’s properly managed, I’m sure this is a doable. Let’s see how it turns out.
I know that if today, I’ve stopped writing, this income will still roll into my account, month after month until Apple iBookstore closes down (which I doubt so). It’s another stream of passive income which I’ve written step by step for my readers.
I’m just a very normal, office guy who wants to make some extra income for my family. And the thing is, it’s not that hard. You just have to start taking action. If you have any questions, just drop a comment below. I’ll try to answer to my best capability.