Is publishing on Kindle worth it anymore? Or did you miss the boat since we’re already in the year 2023? Stefan James, the Project Life Mastery founder has done Amazon kindle direct publishing for a while and weighs in: ” “I’m gonna talk about where I see it going, the opportunity of it, and help you identify: is it really the right fit for you? Is it really worth pursuing for you this year and beyond?” Read on for his strong opinion on Kindle Direct Publishing (KDP).
“Now, the honest answer that I can give you,” Stefan continues, “is that it depends. It depends on you and it also depends on what your goals are. Why do you wanna publish books on Amazon? Why would you want to build an Amazon book publishing business? Maybe you love writing, maybe you’ve always wanted to write your own book, to be a published author. Maybe that’s your dream career. And that’s the vehicle you wanna leverage to share your message with the world.”
“If that’s you, then I think you should pursue it. Book publishing is a huge industry, Amazon is huge, so the opportunity is there. The demand is there. And I have no doubt that if you really love writing and that’s the career that you wanna pursue, fantastic, you’ll probably be successful at that because you have that passion behind it. You’ll do a great job and put in the work and the energy to put yourself out there, go on podcasts, market yourself in the media, et cetera.”
“On the other hand, if your goal is to make a six figure income or maybe a seven figure income, and you wanna become financially free, then maybe it’s not the best opportunity for you. Because, if I were to be honest with you, if your only goal is to make six or seven figures, then I could share four or five other online business models that could get you there faster and easier. The challenge with publishing books on Amazon and trying to make big money is that you’re selling low ticket products.”
Stefan also lets the cat out of the bag when he mentions that most ebooks will sell anywhere from 99 cents to 10 bucks on Kindle. Now sure, can you make a paperback version and sell it for 20 dollars? Of course. But to earn 100k per year you’d have to sell like a crap ton right? That means thousands and thousands of customers. Or you’d need thousands of books that you sell to a few people each month. Both are just really hard an unrealistic for a beginner to pull off. To drive the point home a little more, did you know Stefan James doesn’t know a single other Kindle publishing millionaire?
I’m not saying publishing on Kindles doesn’t have its own perks. Writing the book yourself means basically no out of pocket costs for you, and you’ll learn the Amazon and Kindle platforms pretty well. You’ll earn a new skillset and know how to separate the winning niches from the losing ones. And if you publish something that actually makes sales, it’s pretty much hands free from there. So the business model itself isn’t terrible, it’s just not the best.
One thing you could do is use Kindle publishing as a lead magnet. A way that’ll help you build your email list so you can sell them into your higher priced items or offers. Assuming you’re in the place where you have those kinds of assets. But this is certainly an option to take what you could make from kindle and stretch it into that 6-7 figures Stefan James implies you’d earn. Stefan even said there’s better models available, check out the one I recommend while you’re at it.