Royalties are a great source of income because they do not derive from a W-2 job. Also, they help diversify your income- along with rental income, business income, retirement income, and investment income.
But most people do not know how to get started in the process of creating royalties. I know this because I had no idea how to get started either. I first started a blog. I kept writing until I finally discovered my voice. Most people call this your “Niche.”
I then read two books that changed my life, “On Writing Well” and “How to Take Smart Notes.” From these books, I learned how to create a never-ending stream of content. But where is all this content going to go? Most people will only visit your blog once. Some people make content to attract eyeballs, but that is not my style.
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I first put 10 of my articles into a pdf magazine because I wanted a free giveaway to collect email addresses for my mailing list. Then I just decided to throw the content on a word doc and upload it to the Amazon Kindle platform. I woke up, and three or four people had read my content.
I was shocked. I do not even know how people even found my content. Honestly, I still don’t know how they keep seeing it. So I put another ten articles together and published Financial Independence Magazine #2. Again, more people read it. After six issues, I combined them all and sold them as one mega-book. The results were ridiculous.
I plan to keep writing and creating issues every ten articles. After six magazines, I will make a mega issue. After ten episodes, I will create a monster issue. There is a reason that I want to create many different combinations of issues. I will get into that throughout the series.
To add a cherry on top, you can repurpose your content into more books as well. For example, I divide my content into five categories: financial mindset, retirement planning, stock market investing, real estate/rental income, and business/royalty income. I can take articles from these categories and create a short specialized book. Here is one called “Investing for Financial Freedom: A beginner’s Guide to Creating Passive Income with Dividends.”
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February is the second month of releasing the magazine, and I am on pace to earn $20 from royalties. $20 is a lot of money, and I explain why in “Dividends vs. Royalties.” My first primary goal is to make $200 a month from royalties, but this will probably take a year.
I really can’t stress how many options this way of publishing creates. But I want to cover everything in detail throughout this series. Here are some of the topics I want to review.
1) How to create content. Content is the most crucial part of this plan. I will take a few episodes to cover this. Without great content, your audience will not return. We need to ensure that our content brings people back.
2) How to write. You have to write every day. Writing has to become a part of who you are. To keep the momentum going for your magazine, you will need to be very prolific.
3) Packaging your content. Not only will you need great magazine covers, but you will also need great artwork or pictures for each of your articles. Unique pictures will keep your audience engaged with your content. Remember, this is a magazine, not a book.
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4) Create a pdf. We don’t want to rely entirely on Amazon. If we are on the Kindle Unlimited program, we can’t release our books anywhere but on Amazon. However, this is only for 90 days at a time. Maybe when we have 50-100 magazines, we can experiment with selling our pdfs on our site. Or we can create a subscription program. We need to keep our options open.
5) Publishing your content. Publishing involves picking the correct categories and keywords. Just because you have a magazine doesn’t mean you should release all your magazines under the same categories. We can diversify across multiple categories and keywords- I will explain more inside the series.
6) Using promotions. Promotions are why we want to have as much content out there as possible. Each book can have a 5-day free promotion per 90 days, so the more promotions we have access to, the better. There is a direct correlation between giving free books away and how many people are reading the content under the Kindle Unlimited program. I will learn more about this as I continue. Look at the chart below. The top is free-book sales, and the bottom is Kindle Unlimited reads. I get paid from the reads on the bottom. See how they are in lock-step? The effectiveness of promotions means we need as many books out there as possible.
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7) Advertising and Marketing. How will we get more people into our series? And what other ads can we offer throughout our magazines? We also need to create an author page.
8) Blogging and Groups. There are other ways to get your content seen and followed. The more ways we can create, the more people are driven to our content.
As you can see, there is a lot to discuss. Kindlezine will be a long series. And once it runs its course, I will keep updating it with more content. I will keep learning, teaching, and experimenting. I think this publishing style puts royalties in reach for the average person. I know that most people have a fear of writing and putting themselves out there. However, with the world today, most of us will need to get out there.
Listen, I am not a writer at all. I am a US Marine- and have been for 22 years. I wrote my first blog post seven months ago, and I released my first magazine last month. You can do this!
Remember, each new person that discovers your magazine can seek out your other content. So if someone finds my Financial Independence Magazine #8, they may seek out Financial Independence Magazine #1-6. Even better, I put an ad for the megabook inside FIM #8. How cool is that?
I look forward to sharing this wonderful world with you. Start thinking about different niches that would interest you. Don’t worry if you don’t have many ideas on the subject; I will teach you how to expand upon your thoughts. Let’s do this!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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