I've got a new guest post up on Joe Konrath's blog charting my Kindle experience…and the complete change in my thinking about ebooks. A lot of what I'm saying there you've already read about here, so let's cut to the chase:
This January, if sales continue at the current pace, I will sell about 3100 books this month and earn $6600 in royalties.
That’s a 166% increase in sales and a whopping 751% jump in royalties.
In just one year.
On out-of-print books that I wrote years ago that were earning me nothing before June 2009.
If those sales hold for the rest of the year, I will earn $77,615 in Kindle royalties, and that’s not counting the far less substantial royalties coming in from Amazon UK, Smashwords, Barnes & Noble and CreateSpace.
Even if my sales plummet tomorrow by fifty percent, I’ll still earn about $38,000 in royalties this year…and I’d be very, very happy with that.
My most profitable title, in terms of hours worked and pages written, is THREE WAYS TO DIE, a collection of three previously published short stories. In print, it’s a mere fifty-six pages long, but it’s selling 24 copies-a-day on the Kindle, earning me about $1500-a-month. That means I could potentially earn $18,000 this year just from those three short stories alone.
That is insane.
But what would be more insane is if I took my next, standalone, non-MONK book to a publisher instead of “publishing” it myself on the Kindle.
That’s right. I’d rather self-publish. This from a guy who for years has been an out-spoken, and much-reviled, critic of self-publishing. But that was before the Kindle came along and changed everything. I was absolutely right then…but I’d be wrong now.
Yes, it's happened. I have become a complete convert to self-publishing and the Kindle. But do I recommend it for you? It depends. I go into more detail in the post on Joe's blog, so check it out.