Would an hour of work a day be worth $50 a day in earnings?
I think so, and you most likely agree.
There’s many ways to make money online, but most easy, accessible ways to make money pay pennies. (…sometimes, literally)
So the business I want to introduce to you is a rare exception.
I make around $2000 with 10 hours of work every month as a side hustle by earning royalties on Amazon.
Now, I didn’t reach this amount right away, so I don’t think you should be expecting those numbers in the first few months.
But it only took me 3 months to make profit.
Earning royalties on Amazon is great because it’s passive income, you’re selling the same thing over and over again without doing the work over and over again.
In this case, we’re talking about books. ebooks, paperbacks, audiobooks. All kinds of books.
You create a book and Amazon helps you do the rest once you upload the files to their site.
And if you’re not a New York Times bestseller, don’t worry, because there’s something called ghostwriters.
This is why it took me 3 months to make profit, since I pay writers to write books for me, designers to design the cover, and . But if you’re talented enough then you can write it yourself. (though, you will need to work more hours than I do on this business if you do)
Each copy that book sells, makes me anything from $2 – 20 in royalty profit.
The profit amount on each sale varies based on your product price and what format sold, paperback makes the most money while ebooks make the least.
The average performing book can make an average of $200 – 300 a month, sometimes this is less, and sometimes it’s waaay more.
But I’ll be honest, these results are not guaranteed if you don’t know SEO, or more specifically Amazon SEO.
When I started this business, I didn’t full understand my roles in the situation and I made a lot of mistakes early on.
I’m a lot wiser now and I got this business model down to a science. There’s a few skills you need to master to make money with such few working hours.
Observant and empathy
You need to be observant to identify book topics the market actually wants to buy. This isn’t very hard to learn with some practice.
But the second part, empathy is a little harder. Empathy to understand not just the topic idea, but the actual desire of your prospective book reader. Understand what they are struggling with, why they want to buy a book on said topic and how best you can help them is vital to earning a lot of royalties with your books.
Time management is essential to success, because like most things online, things change fast.
When you see an opportunity, you need to act, you can’t wait to do something when you feel like it, because the opportunity might no exist then.
It takes around 2-3 weeks to get a book from idea to marketplace, which is already a bit of time. So time management is vital to make sure you get your book selling as soon as possible to make the most money.
Eye for detail
Creating books sounds easy when you’re hiring talent to do it for you, but you still need to do quality control. You’re also the last stage of production when you compile all the parts together before uploading the files onto Amazon.
Having an eye for detail to do this well is important.
Otherwise you end up with a sloppy book that people don’t enjoy.