# You Can Become a Kindle Millionaire



## LeeGoldberg (Jun 12, 2009)

Since May on my blog (http://leegoldberg.typepad.com), I have been tracking the success... or failure... of the Kindle editions of my out-of-print books. You can also see the actual royalty statements there. Here's my latest report...

January was my best month yet in sales & royalties for my out-of-print books on the Kindle. The Walk







remained my best-selling title with 536 copies sold. My Gun Has Bullets







was a distant second with 164 copies sold. And coming up third was Three Ways to Die







, my collection of previously published short stories, with 148 copies sold.

I lowered the price of my .357 Vigilante







books from $2.89 to $1.99 and sales went up. It seems to me that Kindle readers are more inclined to take a chance on books if they are priced under two bucks.

All told, I made $775 in Kindle royalties this month...and all found money on out-of-print books that were boxed up and forgotten in my garage (I really do owe Joe Konrath drink for getting me into this back in May). I credit the jump in my sales to all the people who got Kindles as Christmas gifts and were eager to test drive their new toy for as little money as possible. I suspect my sales will slowly decline once the novelty of the Kindle wears off, but THE WALK has already sold 150 copies this month, so maybe I'm wrong (by the way, THE WALK has already sold more copies on the Kindle than it ever did in hardcover).

I'll be curious to see how my MONK books did on the Kindle during the same period...but it will be some time before I get my royalty reports from Penguin.

Beyond the Beyond







continues to sell poorly, or at least below my expectations, so I lowered the price in late January to 99 cents and sales immediately went up...though not by much. I'm hoping I can use the book as a "loss leader" to draw people to my other ebooks.

All of these Kindle editions of my out-of-print books have also been available for two months now as ebooks on Barnes & Noble (via Smashwords) and I have sold less than half-a-dozen... COMBINED. Clearly, B&N and the Nook have a long way to go to catch up to the Kindle.


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## Dana (Dec 4, 2009)

Very interesting numbers.  Thanks for giving a behind the scenes peek to those of us who aren't authors.  

Best wishes for continued success with in your ebook endeavors!


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## scottnicholson (Jan 31, 2010)

Well, Lee, you and Joe Konrath both inspired me to make the jump--after The Red Church was getting one or two sales a day in January, it's now getting a solid 10 and I am actually finding some bloggers and reviewers interested in it (initial print release in 2002 it sold about 35,000 copies but went the way of all flesh and pulp around 2005). It even briefly hit #1 in "Christian science fiction and fantasy" though it was originally sold as horror (though it definitely has a spiritual theme).

I put up some short story collections (ASHES and FLOWERS) and I know they always do worse than novels but, again, it's a new audience for books that people were reluctant to try at $10 or $15. I am trying an original suspense novel THE SKULL RING on March 1 and actually pulled it from submission at a paper publisher to do the ebook because I am convinced I will make more money this way (and, of course, control my own content).

I think the $1.99 price is sort of the tipping point for people below the typical bestseller radar, and it seems to be the "indie standard" for shoppers who are annoyed at the current literary politics of obscenely high ebook prices. Clearly, plenty of publishers think they own and are masters of content, while authors are slowly realizing that they own their content. Now, like you and Joe are doing, I expect the successful writer of the future to be doing both. For those not fatigued by the Great Kindle Wars of 2010, I've been blogging about it at http://hauntedcomputer.blogspot.com

My $1.99 self-release is selling at least 10 times better (estimating from sales ranks) than my $5.59 NY kindle book. That tells me pretty much everything I need to know about my direction. I will submit to NY (literally, not figuratively) but any deal will be weighed against the potential loss of a lifetime of content. While publishers are mulling 15 percent ebook royalties for their authors, and 70 percent is dangling out there...well, should be an interesting summer! Thanks for sharing all this, Lee--it's a benefit to writers and readers alike.


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## 5711 (Sep 18, 2009)

Lee, Scott, thanks for the updates and thoughts. Like Scott I got inspired by you, Lee, and by JA Konrath of course and put two books (Besserwisser: A Novel







and False Refuge







) out last fall that were sitting in a drawer after getting the praise from editors and agents and rejected (you know the drill).

Based on your and Konrath's experience I promptly lowered the books' price to $1.99 after starting at a too-high $3.99. Sales have been okay for me, usually a book every other day, but I'm just getting started at this. There are other factors. The two books can't be more different -- one's a comical mystery-of-errors and the other a noir political thriller -- and they don't fit genres precisely. Plus I had little previous platform. My B&N and Smashwords sales have been negligent, by the way. Most of my Smashwords sales have been through coupon giveaways like Operation eBook Drop.

I'm sticking to the traditional route for the big first novel -- The Liberator, a noir crime thriller set in postwar Germany -- and eventually, I hope, between the ebook hustling and the increased exposure something will have to give. But really it's just good to get the two books out in the world. I gotta thank you again for inspiring me out of a rut.

Steve


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## David &#039;Half-Orc&#039; Dalglish (Feb 1, 2010)

Based on the sales you showed, I think 'millionaire' might be stretching it a little. Not to belittle your sales, of course, those numbers are fantastic, and I'd gladly have similar. $1.99 is most certainly the sweet spot, but what makes me ponder is should I raise my title from $0.99 to $1.99? I'm pretty much an unknown, though getting higher sales than I expected for my first week of release. Would a $1.99 price point perhaps make the book look a bit more...not sure if professional is the right word, but maybe higher quality? Or would I just be pricing myself right out of any possible future sales?

Either way, gratz on the sales, I hope they continue, and against your expected trend, keep on rising.

David


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## Ricky Sides (Sep 16, 2009)

Hi David,

Take a look at _Faking It_ by Elisa Lorello.

http://www.amazon.com/Faking-It-ebook/dp/B002BWQOH8/ref=pd_ts_kinc_13?ie=UTF8&s=digital-text

Her book is ranked #13. This may help you make an informed decision.

sincerely,
Ricky


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## LeeGoldberg (Jun 12, 2009)

scottnicholson said:


> I will submit to NY (literally, not figuratively) but any deal will be weighed against the potential loss of a lifetime of content. While publishers are mulling 15 percent ebook royalties for their authors, and 70 percent is dangling out there...well, should be an interesting summer! Thanks for sharing all this, Lee--it's a benefit to writers and readers alike.


So far, I am making far more from my "NY" publisher sales than I am off of my Kindle e-sales, so I won't be writing original work for ebook market any time soon.

For example, My Mom wrote a memoir, Active Senior Living







, about battling cancer and her first year in an Active Senior Living facility. She did it simply to occupy her time and to amuse herself and her family. I convinced her to make it available on the Kindle and to offer a trade paperback edition via Lulu... all of which didn't cost her a penny. I thought others might enjoy her book as much as I did... and I thought if I was right, she'd also get a much-needed morale boost from the response. I was right. She has been absolutely thrilled by the enthusiastic, heart-felt response from readers... the sales have been secondary for her. She's selling about 10 copies a day on the Kindle...and about one a day on Lulu. But keep in mind, she had no expectations of success and still doesn't. She had, and has, no illusions, or even aspirations, of making any money off of it. And while the book is selling at a nice clip, the money she's earning certainly wouldn't motive me to write anything original for the Kindle.

I still believe that if you are a professional writer, as I am, the ebook market isn't mature enough yet for me to make a living off of it or to turn away work from publishers. But for out-of-print books, it's a wonderful, risk-free opportunity to introduce new readers to your work....and to make a few bucks as well.

Lee


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## LeeGoldberg (Jun 12, 2009)

Half-Orc said:


> Based on the sales you showed, I think 'millionaire' might be stretching it a little.


Obviously I was joking with that subject heading, Half-Orc. But for professional authors with out-of-print books, I believe the Kindle presents a wonderful opportunity to potentially make thousands of dollars annually from work that was dead and buried. And while I caution writers against self-publishing, the Kindle has the great advantage over vanity presses of being FREE... no out-of-pocket expense, no rights-grabs, no false promises, etc. I hope it puts Authorhouse, Jones Harvest, etc. out of business.

Lee


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## scottnicholson (Jan 31, 2010)

I agree, every professional writer should try to get an agent and a major publisher. But I also think, at the lower end of the midlist, you are now better off holding onto your rights than just giving away a 15 percent ebook royalty as long as the publishers meet a laughable minimum in six months. I don't know what the standard is but I've seen $200 earned in six months of ebooks count as "in print." True, I believe publishers take a risk with paper sales and advance and deserve a cut of your future ebook royalties. But 85 percent? I don't think the industry is fairly addressing this issue yet, especially, as you point out, backlist can generate pretty good easy money. You just said yourself you made more off your Five Star book as an ebook version. Truth is, you would have probably made more money having the book available for Kindle during the entire time Greenberg had your rights tied up and was printing and distributing the book. As a point of professional philosophy, Five Star was the right move, and of course ebooks have exploded in the meantime. As a math problem, though, Kindle trumps Five Star.

I'd like to see the professional writing organizations take interest in this aspect of things. We get handed lists of approved publishers with no thought of shelf life of a book--which, with ebooks, is now essentially the term of copyright, because it should always be in print. Right now, yes, Kindle is not a breakout place for most people. JA Konrath was already doing pretty darn okay even before he released a lot of original titles.

Two years ago, I was sneering at self-published authors. And there's still a lot of crappy ones, just like there are crappy bestsellers. But until I get paid a living wage for a book, I'd just as soon keep it myself and take my chances, while working on other books (I have four on submission so I am definitely not putting all my eggs in one basket.) Always good to hear your thoughts, Lee.

(Incidentally, I am putting out Harry Shannon's Five Star backlist through Haunted Computer Productions...)

Scott Nicholson


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## MariaESchneider (Aug 1, 2009)

Thanks for the info.  Data points are always very good to have.

Maria


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## David &#039;Half-Orc&#039; Dalglish (Feb 1, 2010)

LeeGoldberg said:


> Obviously I was joking with that subject heading, Half-Orc.


Sorry, I see the words "become a <insert whatever> millionaire" on the internet, my mind flashes to a thousand scams I've received in my email. That, and there was no joke in your post to give it away. You clearly need to open with a joke.

David


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## Randolphlalonde (Sep 12, 2009)

Thank you for offering some numbers on how your back catalog is doing on the Kindle. It was one of those things I didn't know I was curious about until I was already reading.

I've been making a living on eBooks for almost two years, and the funny thing is, the income I've been earning from the Kindle has been secondary, less than 20% of my actual earnings. Most of my exposure has been in Europe through Mobipocket and many smaller eBook retailers. Funny thing is, I'm Canadian, and it would be far more likely for me to be recognized in Sheffield than in my own back yard. Something I find particularly amusing.

A few months ago I decided to grow and shift my income source by making it known to my readers and the public in general that Smashwords is the home I prefer. This January Smashwords out-earned Mobipocket and Amazon combined. It's also worth mentioning that there was an overall growth. Meanwhile, I sold 3 printed books through Lulu and Amazon.com (Createspace), combined, but I'm not worried. My readers are eBookers, and somehow, that tickles me.

I know I'm often the exception to the rule, which has had me asking 'why?' for the last year or so. Now I'm going to see if I can apply the knowledge I've gained to Amazon.com and the Kindle. I'll keep everyone up to date, as I tend to do on Kindleboards. Oh, and one word on self publishing and vanity presses. Yes, I self publish, but I never pay for publishing services.

Fantastic topic, by the way. Sure it sounds like one of those late night success schemes you see on infomercials, but why not consider the steps it would take for someone to become a millionaire thanks to Amazon.com and the Kindle? I'm still living on spam and cheesy macaroni, but who knows? Maybe next year I'll be hosting the first Kindleboards Awards at my new mansion.


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## David Derrico (Nov 18, 2009)

Randolph, that is amazing to me that you're selling more on Smashwords than on Amazon. I've sold about 1,000 books so far in 2010 ... and exactly 8 have been on Smashwords (not even 1%!), almost all the rest have been on Amazon (and almost all of those have been eBooks, with a few paperbacks here and there).

I just wonder how you've been getting so much traffic at Smashwords, I'd certainly be interested to hear any tips you have that you don't mind sharing!


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## RJ Keller (Mar 9, 2009)

> I'm still living on spam and cheesy macaroni


Yum!


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## David &#039;Half-Orc&#039; Dalglish (Feb 1, 2010)

Randolphlalonde said:


> I'm still living on spam and cheesy macaroni, but who knows? Maybe next year I'll be hosting the first Kindleboards Awards at my new mansion.


Awesome! Can I be a seat-filler?

David


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## MariaESchneider (Aug 1, 2009)

David Derrico said:


> Randolph, that is amazing to me that you're selling more on Smashwords than on Amazon. I've sold about 1,000 books so far in 2010 ... and exactly 8 have been on Smashwords (not even 1%!), almost all the rest have been on Amazon (and almost all of those have been eBooks, with a few paperbacks here and there).
> 
> I just wonder how you've been getting so much traffic at Smashwords, I'd certainly be interested to hear any tips you have that you don't mind sharing!


I'm not Randolph, but i like making uneducated guesses--if he is better known in Europe then many of his fans may use sony readers--any blogs or word of mouth discussions are likely to be from that section than Kindle. As popular as he is over there, I'm willing to bet his books will also catch on with the Kindle as his Kindle audience grows!!!


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## scottnicholson (Jan 31, 2010)

Also, I expect Randolph has created his own fan base and, again making a supposition, he is more likely to direct his fanbase to Smashwords. I think we all know it's hard for people to "accidentally" find you. I don't even really promote Smashwords as an outlet. There are others like it (zulu express) but it seems like more of a place to find free books than actually go shopping. Either way, Randolph, hearty congratulations on eating the fruits of your labors...er, macaroni of your labors.

Scott Nicholson
Coming March 1:THE SKULL RING
Haunted Computer Books


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## J Dean (Feb 9, 2009)

Lee Goldberg.... your name sounds familiar to me...


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## Randolphlalonde (Sep 12, 2009)

I've used a lot of promotional tactics over the years, but I think my initial boost was from a combination of luck and filling a niche that has had few fresh entrants over the last couple of decades - Space Opera.

As to how I'm getting sales on Smashwords, there are a number of factors there. I write a series called Spinward Fringe, so most people who get hooked by the first set of books - The First Light Chronicles Omnibus, don't buy just one at a time. Half the people buy several of the Spinward Fringe series books (Resurrection, Awakening, Triton, Frontline, Facture), at the same time. They purchase them there because the cover prices are lower than anywhere else, with the exception of Barnes and Noble.

At first a few of my fan base migrated there, but not many. Most of them are steadfast Blackberry, iPhone and other cellular users. The Sony reader has almost no presence among my readership. Most of them actually think dedicated eBook reading devices are pretty useless, and as much as I don't entirely agree, I read books on my iPhone as well, mostly because I can't afford an ePaper device yet.

Where are the new readers who buy at Smashwords coming from? I THINK a lot of them downloaded the First Light Chronicles Omnibus there for free, and considering that book has been downloaded 9,221 times as of today, it's made its way onto many devices. I suspect only 10% of people who download a free eBook actually read it, however, so I take those big numbers with a great big grain of salt. I hope I'm wrong about the number of people who download AND read free eBooks, but what I've seen so far seems to prove me right in my case. I'm also aware that hard core Science Fiction doesn't have a large audience, so initial attrition is pretty high.

There is more to what I do to promote my work, including writing articles, connecting my work to scientific developments, and making sure I'm accessible to readers. The First Light Chronicles Omnibus is also listed on several free eBook sites that link back to Smashwords, since I don't allow the book to be hosted anywhere other than Smashwords and their partners for free. 

Smashwords came along at a time when I was just starting to understand why I was able to form a readership, and as Mobipocket sales started to slow down a little, but it still took about five months before I started to see the results of my work to build something there. Thankfully, I can devote the time I'm not writing to communicating, an advantage to doing this full time.

There is one thing that I've learned that is universal, however. Getting the right attention is hard, but if you don't work at it your time in the business will be short and possibly depressing. For a long time it felt like the work I was putting in to communicating with potential readers was amounting to very little, but now some of the effort is showing results. I'm just glad I was patient and positive, which was difficult at times, considering I'm a cynic by nature.

Oh, and I really hope I didn't take over this thread. Someone change the focus of the topic, quick!


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## David Derrico (Nov 18, 2009)

Randolphlalonde said:


> Oh, and I really hope I didn't take over this thread. Someone change the focus of the topic, quick!


Not at all, I found your comments incredibly helpful (and I'm sure others did too), and I thank you for sharing them with us.


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## MariaESchneider (Aug 1, 2009)

Rats, well, I had a good guess. WRONG, but a good guess.


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