Finally! I launched the book it took me 10 long months to complete. (Totally unacceptable by the way.) But first, I know everyone really just wants to see the numbers.
Total income for October was $4,775, with year to date revenue of $205,665. The breakdown for the month:
- Royalties from 4 books = $4,775
- Kindle = $1,338
- Createspace = $3,437
- Speaking income = $0
You can see from the Createspace table below—so it’s print only—that the new 15 Secrets book contributed almost $1,500 to the month. A welcome increase, but actually a bit light given the book didn’t launch until almost the middle of the month, and I had purposely priced it very high at launch to make a dramatic contrast against the Kindle $0.99 promo. November will be better, breaking $2,000 from the paperback version alone.
As for Kindle sales, you can see in the graph below that the new book completely dwarfs my previous efforts. This is great news. I had previously focused on niche business books and my new book on time management tackles a much larger, and more competitive market. If it didn’t dwarf my other books this entire year would have been a waste. Since I launched it at $0.99 (I used to launch at $0 but no longer) my actual royalties aren’t that high, even though you can see I had as many as 359 unit sales in a single day (October 26).
THIS AND THAT
I had no speaking gigs in October. I think I could have landed some small ones but I knew it was going to be a busy month with the book launch so I turned down anything that wouldn’t pay full fee.
Still enjoying the time flexibility that goes along with being a full-time authorpreneur. That’s at least half (more?) of the benefit of being an entrepreneur: do what you like and be able to have good quality of life.
I relaxed for a week in Sedona, Arizona. I flew out to San Diego and had lunch with Ken Blanchard (author of the One Minute Manager and 60 other books). And was able to go to my kids’ events and enjoy Halloween.
CREATING AN ONLINE COURSE
As I’ve mentioned in previous reports, I created and launched an online course called Master Your Minutes to go along with the launch of my time management book. Launching a book and a course at the same time? Bad idea.
And it will take a separate post to explain it all, but while I did bring in over $10,000 of revenue in student enrollments, I spent more than that on the marketing and development of the course. In other words, a money loser. At least unless I offer the course again and again and make it back over time. I didn’t include this revenue in the monthly report only because I don’t yet have a firm grasp on the costs. So I just omitted both the revenue and the costs for now.
But most of my time in October was spent writing PowerPoint slides, recording lessons in a video studio, and fighting with software. And I’m still not done! Still have more modules to create and record.
Yes, online courses are a good idea for a book backend. But they will take A LOT more time and effort than you think, and might not immediately generate the revenue you had hoped for.
THE BOOK LAUNCH
October was the month when I finally launched 15 Secrets Successful People Know About Time Management. The launch went well.
- It got over 90 reviews in one day and currently has 184 mainly positive reviews
- It hit #1 in all its categories and still bounces between #1 and #4 even 6 weeks post-launch
I’ve been basically live blogging the launch over the last few weeks and will put the relevant posts below. But my simplified launch plan was:
- Launch at 0.99 instead of free to try to get traction on the PAID charts
- Build up a street team of over 200 people, assuming a 50% completion rate, or 100+ positive reviews. I made the book live for two days without promoting it so that reviewers had a chance to do their thing.
- I announced the book on my social media channels (Twitter, Facebook page, LinkedIn Status, LinkedIn group)
- For the first time I paid to run promotional ads/announcements. It’s kind of hard to track but it seems like the best results came from Books Butterfly, Buck Books, Jameshmayfield.
- I did a straight out sales email to my list announcing my book; this had a great effect on sales as you would hope.
- I’m trying to do one guest post and one podcast interview each week. I think these tactics are very effective (although time consuming) but it of course varies wildly by the size of the audience.
The only new thing I’ll try for in 2016 is to get a BookBub deal.
More details about the launch can be gleaned from these posts:
- How I Got 97 Legit Reviews in The Last 24 Hours…
- 6 Steps To A Perfect Book Description That Sells Tons Of Books
- Writing The Perfect Tweet To Sell Tons Of Books
- Chapter Upgrades: Can You Get Half Your Readers To Join Your Newsletter?
- The Out Of Office Trick To Promote Your Book
As always, I hope you’ll introduce yourself by sending me an email (info @ kevinkruse dot com). I love hearing about what you’re working on or planning for 2016.