For many folks, the idea of passive income seems like a pipe dream. After all, it seems unbelievable to think that you could make money while you don’t actually “work.” Indeed, passive income seems more like a fairy tale than a reality. However, you might be surprised to find that earning passive income is certainly possible.
The trick is to find the right way to make it happen. In this article, we are going to discuss three keys that you need to earn passive income with Amazon Kindle. Yes, that’s right. Through Amazon Kindle, you can make passive income easily and effectively. Best of all, self-publishing is the wave of the future. So, let’s get right to it.
Deliver Value and Quality Content
The first key to earning passive income is to deliver value. When you deliver value to customers, they will keep coming back to you. When readers find your material of high quality, they will keep coming back to your new content. So, you earn a passive income because your content keeps selling and selling. For instance, if you write a great novel, people will talk about it.
That creates a snowball effect.
As people talk more and more about your content, the more people will purchase it. Plus, Kindle Unlimited allows subscribers to download an unlimited number of books every month. So, every time someone downloads your content, you get a cut.
It’s really that simple. All you have to do is work once to get the content produced and voila. You have a direct path to passive income month in and month out.
It’s a Numbers Game
Earning passive income regularly requires publishers to produce high-quality content consistently. If you truly seek to make a decent income, you need to publish as many volumes as possible. That’s why it’s a numbers game. In essence, the more titles you publish, the more money you will make. Of course, you could write one truly successful book. However, that’s akin to putting all your eggs in one basket.
So, if you are keen on producing regular income, then try your best to consistently publish every month. Of course, it depends on factors like time and budget. Nevertheless, if you can consistently publish at least five titles every month, you will soon accumulate a significant catalog within a few months. That will keep the money rolling in.
The Price is Right
Pricing is the third key. When you price your books right, readers will feel compelled to take a chance on your material. You can opt to price under $3.99 or over $9.99
Why do you ask?
When you publish at a lower price point, readers will feel free to take a chance on your content. Once it gains traction, they will keep coming back. If you price over $9.99, readers will feel that they are getting valuable information. As such, you may sell less but earn more.
In the end, you need to decide on low price-high volume or high price-low volume. Either way, you stand to earn a good chunk of change every month.