HOW TO GET A MAXIMUM PROFIT FROM YOUR BOOK
Selling your book online is one of the best ways to make money online. While giving my answer regarding the best automated online business, I said that selling book online is the best option to build a regular passive income in long terms. My conclusion is based on my personal experience. I wrote my first book nearly one year ago. Since that time, I regularly receive my monthly royalties from the book sales. I do not even promote and advertise them. If I made some efforts in order to create a buzz around the books I published, I would already hit my first million dollars by selling the books online. Today, with the come of the Internet, we have truly unlimited opportunities. No matter where you live, you can self-publish your book on the world’s most famous and popular online stores. This is one of the things I do in order to make money online. I cannot claim that I am making tons of money by selling books online. Nevertheless, I can assure you that making huge money in this sphere is very probable. The only thing you need is to write a good book and promote it very well.
If you have already read my previous articles on how to make your book a bestseller, you need to know how to get a maximum profit from the sales your book generates. In this article, I will give you the most powerful tips that will let you make the highest profit in this business.
1) COME TO THE USA TO PROMOTE AND SELL YOUR BOOK
This is the best and the most effective tip I can give you in order to boost your sales. The USA is the largest importer and consumer of both online and offline goods. It is not a secret that Americans are fans of reading. The USA is the best country to promote and advertise your book. It is cool if you live in the USA. However, if you are not a citizen of this country, you should try to come here in order to promote your book. Online promotions won’t be as much effective as participating at TV shows, giving press conferences, and other promotional activities. The USA is definitely the best country for making all types of businesses.
2) SELL YOUR BOOK ON AMAZON AND CREATESPACE
Amazon and CreateSpace are the best online stores to sell your books. CreateSpace is a branch of Amazon. Mainly, it is specialized in selling physical books, music albums, and other offline items. On Amazon, you can sell you books in different formats. As you may already know, selling your books on Amazon is not free. Amazon gives you two ways to sell your books. The first option lets you receive 75% of your book royalties. The second option gives you 25% of royalties. There are some differences between the options existing between these two opportunities. Anyway, it is always better to choose the first option. 75 % of royalties are enough good to make a good income. With 25%, you will not make a good profit.
3) IT IS BETTER IF YOU ARE NOT A US OR EU CITIZEN
To sell your books on Amazon, you will be required to provide your tax ID. If you are not a citizen of the USA and the EU, you can easily avoid tax holdings by Amazon. Otherwise, some part of your income will be lost in taxes. Being a citizen of the USA has both advantages and disadvantages. If you can stay in the USA without being its citizen, this might be a very good option to make huge money by selling your books. Otherwise, the US government will hold a big amount of your net profit. Think that Amazon will have 25% of the profit you generate; the government taxes will not leave you anything.
4) AMAZON KDP SELECT
Amazon KDP select has both advantages and disadvantages. Its benefit is that you can make good sales by participating in KDP. The bottom side is that your book must be sold exclusively on Amazon. Thus, you lose a good opportunity to sell your book on your personal blog or a website. Nevertheless, if nobody is visiting your blog, you may not hope to make some sales on it. In this situation, Amazon KDP Select will be a great opportunity to make a good profit. If your personal website has a good amount of web traffic, you must consider very well before you make your book available in Amazon KDP Select.
5) SELL YOUR BOOK ON YOUR PERSONAL BLOG
Selling your books on your personal website has loads of benefits and advantages. On your personal blog, there is no Amazon that will hold some part of your royalties. Selling on your personal blog lets you avoid taxes. Nobody knows how much money you make. PayPal does not care about the taxes you don’t pay. Other payment gateways also do not bother themselves with taxes. Thus, you can get 100% of the profit directly to your credit card.
Of course, if nobody visits your personal blog, it is very probable that you will not make good conversions. Before you start selling on your personal blog, you must make sure that your blog gets good amounts of web traffic. In this situation, selling on your personal blog will give you some effective results. Otherwise, you should stick to Amazon and CreateSpace that have tons of web traffic.
6) PROTECT YOUR BOOK FROM DIGITAL PIRATES
Being physically in the USA to promote and sell your book is crucial for the success in this business. Most of the people who buy and read books are from the USA and from the countries that belong to the European Union. Other parts of the world are not interested in reading so much. Even if they pay some interest towards a book, they will never pay to read it. Almost every book is available for free download on the Internet. Digital piracy prospers and develops. Rappers, pop singers, book authors do not make as much money as they used to make many years ago. With the spread of digital piracy, we need to make additional efforts in order to protect our intellectual property.
For these reasons, regularly monitor the Internet. Search for the websites that have your books available for a free download. If you spot somebody illegally selling your book, contact and warn them. If this does not work, make further actions. Digital piracy can steal a big amount of your potential income. Be cautious of this problem. Try not to become a victim of digital pirates.
These are the steps how you can maximize your profit from book sales. Follow all of them, and you will get a maximum income in this business.