What I wild ride the last few months have been…. When I started this blog I had the intention to make weekly posts with how I was doing on my journey to a passive income lifestyle. That obviously has not been the case. I could make excuses but in all honesty it was simply just not a top priority. It pains me to say that, cause the purpose of this blog is to help and show people how it can be done but more importantly to show some of the real struggles that I have gone through while going after this goal. I have finally set some time out this morning, while I sip my coffee and listen to some peaceful classic piano Christmas music, to re trace my steps and bring you up too speed with everything that has been going on.
When I started published on Kindle it was not my first choice for what I wanted to do to make a passive income. See for a few months I have been doing research on what is called Amazon FBA. That is simply buy products and selling them on Amazon and having Amazon handle everything for you. Theres lots of research to along with this in order to find out if a product is going to do well ect. The main thing that was slowing me down was the initial cost to get it going, it was going to be around $1000 and I/we just didn’t have an extra $1000 laying around to try out on this new idea. So I did what anyone else would do in order to come up with extra money, I started cutting back on things that I liked. Saving money isn’t hard, most people just don’t want to sacrifice enough to save money. I just made it simple, I cut back from buying things that I really didn’t need to live like juice while at the grocery story, that saved a little bit each week. I sent some extra emails to some of my old clients from my last job to see if they needed anything and that helped earn a little extra money. All in all I was slowly but surly coming up with my $1000.
Somewhere in July, I came across info on Kindle publishing and after a week of research I decided to jump on board for the simple reason that it was going to cost way less to get started. At this point I already had about $300 saved. I took an online course call K Money Mastery ($100) and watched every youtube video that I could in order to learn everything about what it takes to be successful. I mapped out my goals and figured by others people success stories, that I should be able to produce 70-80 books by Dec 31st that will generate around 3k-4k/month in passive income, in about 5 months time. HA was I in for a wake up call.
I got my first book published following everything that my course had taught me. I actually had a second book being written at the same time, but ran into a little bit of a snag with that one that I will get to. I used a company recommend in the course and to be honest they were a little expensive. To date my first book was the most expensive one at just over $170CND plus cover and marketing it was over $250CND! Now if you are following my math, that means that i have spent $50 more then I had. Well I never stopped saving and putting money into that account. I had $10 automatically go from my chequing account into this savings every week and that does add up over time. I was also taking anywhere from 5-10% of my pay checks in putting them straight into this account. Rule #1, if you want to get ahead, start paying yourself first. Thats exactly what I was doing, and still am. Did I notice the decrease, not the slightest bit.
I tried a different company for my second book and it proved to be a great learning experience. They turned out to be a company run by scammers who try to wait out Paypal’s period of when you can dispute something. Bottom line is, I got my money back, but this delayed my publishing process by a whole month and that is when I realized that getting 70 books done by the end of the year might not be quite possible. I then made the choice not to work with people from outside the US for the time being. This was for a few reason, 1. I am less likely to get scammed by someone States side and 2. their writing is just more of the style that I like. Once I got my money back I decided to try freelancers on Upwork.com and that has been my go to place to find people for now. I love the process of posting a job, reviewing applications and interviewing them. I feel that I am in much more control and I am able to create a relationship with them as well. My second book only cost me $70CND this time around I was much happier with the quality as well.
My third book was the least expensive of them all at only $56CND but I wasn’t super happy with the quality of it, so the happy medium for pricing out a good quality book I have found to be $67CND or about $50USD.
In terms of sales for these books, well they all have made some sales here and there but nothing that I was really hoping for. Each one I was able to get to sell a bit better but no where near what I really wanted them too. What was more important then having these make money right away was what I was learning throughout the whole process of this. I learned how to market them, put them on free promotion, format them and things that worked and things that didn’t. Those are the skills that I really needed to learn in order to make everything else work.
That brings me to my 4th book. This book was a hit. Within its first 3 days it sold only 6 copies less then the other 3 had sold combined in the last few months. I also was able to get it downloaded over 1100 times while it was on a free promotion and just recently it was got on to the Amazon’s Best Sellers list, all within a week of coming out! Riding on the success of this book, I came out with a 5th book around the same topic and have a 6th book coming out later in the week.
So while the first few months not too much was happening I stuck with it and now I am starting to see some exciting things happen. Am I anywhere close to where I want to be? No, but I am moving in the right direction.
I will do another post shortly about my thoughts and feelings going through the last few months, I also want to get an updated monthly goals report for November as well. Hopefully this weekend, I will be able to get these things done to give you a better idea of exactly what these last few months have been like.