I’ve not been blogging for a while, but that doesn’t mean my businesses or trading stop making money. As usual, I’m looking for new ways to make money online, and to share my learning experiences with my blog readers here. Before that, let’s jump in and see how my ebook business is doing.
eBooks Business – #1 Passive Income
Frankly speaking, I’ve been slightly lazy to keep pumping in new ebooks. I wanted to see what will happen if I stop pumping in new ebooks to Lulu. Will my income drop, stop, or maintain? Of course, the idea case if to maintain my income as long as possible, but I know it’ll be tough, as more competitions are coming up. Nevertheless, below are the stats for my sales. I’ll continue from where I last posted.
Well, as you can see, I’m getting consistent sales, despite not adding any more ebooks. I’ve invested some money into making these ebooks, mainly using freelancers as I’ve mentioned in my previous posts. Now, it’s time to get back my investment, passively!
Just within 2-3 months, I’ve already break even (not to mention I’ve already been making some money from Lulu monthly), and everything I’m earning right now is pure profit. This is what I truly call A Passive Income Business. I’m glad to add this stream into my line of businesses.
So What’s Next?
I decided to stop report sales from Lulu, as this is getting boring. The genes of setting up and running this business had been blogged from A to Z right from the beginning. If you want to learn how to make money selling ebooks, just read my previous posts.
So what’s next for me? Well, I’ve figured out something. I have lots of assets right now, with over 300 ebooks with me. If I just sell my ebooks at Lulu.com, am I leaving a big chunk of money on the table? Are there any other places where I can sell my ebooks?
Since I’ve already created these ebooks, and I can see the demands are there, why not try selling at other websites? This idea struck me, and it was a good idea! I decided to explore.
More eBook Marketplaces
After doing tons of researches (as I’m totally new in this industry), I’ve found another 2 good places where I can just copy and paste this system. All I have to do is to self published my ebooks, and let the money rolls. These 2 marketplaces are:
I’ve heard of Kobo before, when I’m searching for reading apps from my iphone. But I’ve not created any accounts or explore them before. When I was reading up about Kobo, I realized they had acquired Sony eBooks as well, which mean they were huge!
The good thing about Kobo is the simplicity. Self publishing your ebooks is a breeze. Everything’s pretty straight forward (just 4 pages) and within a day, your ebooks will be ‘live’.
My plan is to self publish 10 ebooks per day. I do not want Kobo to think I’m a spammer. 10 is a good figure as I just have to copy and paste everything from Lulu to Kobo. I can do it within 1/2 hour.
I started uploading some ebooks in Mar 14, and I must say the sales are not as fantastic as Lulu, maybe because not many people are using Kobo. Nevertheless, money is still money, and everything’s passive once I’ve done my self publishing. You can see how much I’ve made so far. Take note I’ve just uploaded a few ebooks to try.
I’ve uploaded 217 ebooks so far, sold 21 in Apr and made a total of $72. Not that fantastic, but if I can get $100 passively every month, I’m more than happy to do it.
So what about Google PlayStore?
Google Playstore is huge, with over 70% of smartphones are Android, which means that Playstore is preinstalled into their phones. My target is to get into mobile business, and Playstore can be my answer.
I’m using the same strategy – 10 ebooks per day. Playstore is quite straight forward as well. However, you need to convert your ebooks to PDF version before you can be accepted by Google.
The approval takes 1-3 days. Sometimes it can take over a week. So if your ebooks are pending, just be patient. The bad thing about Google Playstore is that they never show you how much you’ve made. You can download your sales into excel format, but that’s troublesome. I’ll just do it once and forget about it. As long as I know sales are coming in, I’m fine with it.
Till today, I’ve sold 49 ebooks, each at $3.99 (I’ve done my research). You can calculate yourself how much I’ve made in less than 4 weeks.
I’ll continue to pump my ebooks into Kobo and Google Playstore, and I’m targeting around Mid May, I’ll be able to publish all my ebooks. From then on, I’ll be able to make passive income from 3 major bookstores, month after month.
So what about you? Have you start making your stream of passive income? Let me know in the comments below.