March 10, 2016 in Income Reports
The second month of 2016 is over and it’s time to see how I did with my online assets. The main thing I did was work on a new self-published book. It took me about 1.5 months to write and format and in February I released it. I had high hopes for this new series but it really isn’t selling at all! This Kindle publishing isn’t as easy as some make it to be.
I know this is a new series and I ran promotions for both of the books but I think I’ve had maybe 5 sales total with both books. While I thought this was a good niche to be in, I think there might be too much competition. There are way more titles in this subject than I originally thought. Not sure what to do with it now. I will leave it on Amazon for now and will try to come up with a plan to get some sales going.
Speaking of self-published books, my first series of books is selling ok. They are offered in both Kindle and print formats. However, the print books are selling way more than the Kindle versions. I’m not sure why the discrepancy in sales. I have marketed all my books the same way but there seems to be little interest in the Kindle versions but higher demand for the print versions. I’ll take it though. I actually am into my print books more than the Kindle books. I’m also working on the 7th book in this series which provides my main income when it comes to self-publishing.
Starting My Amazon FBA Business
Last month, I mentioned I will be going into the Amazon FBA business (Fulfilled by Amazon). I have now finished research on physical products I want to sell on Amazon. I was tracking sales of 6 different products for 2 weeks. I have narrowed it down to 2 products now. So what I’ve done so far is contacted a few manufacturers in China. I’ve been going back and forth with them and I think I’ve picked the factory I’m going to use. the representative from this company has been very helpful and I like the detail she has put into her responses and the detail of her replies.
I’m now just getting into the finer details of per unit costs and shipping. The shipping cost is incredible! But that’s the cost of business. I think I will have large enough margins to make this worthwhile. I’m also finalizing the details of what will be included with my products. Notice I said products. I’m actually going to launch with 2 products to speed up my testing time. The products are from the same factory so I’m hoping to consolidate shipping costs by combining the 2 products into one shipment. This is exciting stuff! I’m planning on ordering about 200 units of each product to start off with. I think by next week, I will order the single samples to inspect before I place my big order. I’m not too worried though. There is not much that can go wrong with the product I’ve chosen. The only issue I can forsee is quality but I’m still not that worried. I’m funding this FBA venture with income that I’ve generated from my books and apps.
My product is very simple and can be enjoyed by many people. Obviously I can’t share what products I’m selling but this will be an interesting journey that has real hard costs and physical inventory. I’ve been listening to The Amazing Seller Podcast and it has been extremely helpful to get me started. I started listening from episode 1 and I’m up to episode 40 now. I think there are almost 180 episodes so far. If you’re thinking of getting started with Amazon FBA then I highly recommend this podcast!
That’s about it for now. Let’s get to the income report!
Here’s a snapshot of my totals for easy reference.
- Kindle Publishing: $73.61
- Amazon Associates: $149.06.
- Banner Ads: $5.65
- YouTube: $48.56
- Createspace: $354.14
- Udemy: $31.50
- Linkshare: $0.00
- Mobile Apps: $62.19
- Template Sales: $0.00
Total this month: $724.71
- Last month total: $880.08
- Difference: (-$155.37)
Total earnings per day: $24.99
Get Covers for Your Self-Published Books with Coupon Code
If you read my income reports regularly, you might have noticed where the majority of my income comes from. It’s from self-publishing! This has become one of the main areas I focus on these days. I’ve tried lots of different ways to make money online and publishing has been one of the most rewarding things I’ve done.
There are many reasons that self-publishing fits into my business plan but among the top reasons are:
- Easy to write
- Can hire writers
- I can create covers myself
- Little to no maintenance
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Regular price for this course is $47 but for readers of my site, use the coupon code COUPON24 to get the course for only $24! There is no expiration date on this code and you are free to share it with anyone. Click on the image below to redeem.
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