We all want to earn a bit more but know that earning a good amount isn’t easy. However, there are numerous success stories that turned and changed the lives of many within a very short period.
One such inspiring story is of 30-year-old Rachel Richards that has made $97,000 from Amazon by self-publishing her books.
Well, that sounds interesting, right? If yes, then you have come to the right place as today we will see how this young entrepreneur got the idea of writing a book and how it helped her make a fortune due to which she retired at the age of 30.
So, get attentive as the next inspiring success story can be yours because if Rachel can do it why can’t we?
However, you can read and do a bit of research regarding the Rachel Richard history, and how they made their way to $97,000 from Amazon officially.
In 2017, Rachel Richards was just 24 when she was working as a financial advisor at a manufacturing company. She has always been an enthusiast about her work which led her to be promoted as the financial analyst at the same company.
Soon after getting her degree she switched her profession and became a real estate broker. Despite the profession, people always looked to her for money and she can't talk openly about how frustrating it was to fulfill the needs of the people around her.
The only thing that kept roaming around in her mind was why are all these people not self-taught or ambitious enough to do things on their own. She wondered if they read books, review websites or listen to podcasts?
Thus, she started to research financial books that could help not just her but also the people around her in having a financially stable life.
While reviewing the books she found that most finance books are boring and confusing, moreover, there are not many books for younger women. Thus, she took the stand and decided to write her own financial book that can make the topic of finance a bit more interesting and easier to understand for the masses.
Soon after she decided to write a financial book herself she went to work straight away. It took her 9 months in total from January 2017 to September of the same year.
After she finished writing the book she was confused about the publishing and printing process. Thus, she opted for the best medium that would allow her to share her work with the world in a hassle-free fashion.
She opted for Amazon and self-published her first book which she named “Money Honey”. This was the game changer in her life as the results that she obtained from the sales of the book were exceptional and better than her expectations.
The first month’s sales that her book “Money Honey” bagged was an astonishing $600. This was a great accomplishment for Rachel as it outperformed her expectations in the very first month of her first book sales.
But luck was on her side and soon the following months brought in not just more money but also inspiration and motivation for her to do even better.
The next month of sales in total was $1000 and after it, she was constantly making a hefty $1500 profit on her book from Amazon.
In the same year, she started her own real estate business and that too started to bring in exceptional results for Rachel to which she retired in 2019 at the age of 27.
The book was performing well and everything was in great shape when she launched another book named “Passive Income, aggressive retirement”.
The second book of Rachel focused on how she earned a passive income at a very young age and how she aggressively retired at the age of 27.
By the end of July 2022, the results from Amazon were staggering for Rachel. She has sold approx. 25,000 copies of both her books which are “Money Honey” and “Passive Income, aggressive retirement”.
In the year 2021, Rachel Richards’ record showed that she had royalties of $97,000 from her two books which are available on Amazon.
Well if the story of Rachel inspires you, you might be thinking how can you earn a passive income from publishing a book on Amazon or any other medium?
Below we have made a guide on how you can earn by self-publishing your book. But before we start it is important to know what self-publishing really means.
Self-publishing is the process of publishing your own book without the need for a traditional publisher. This means that you will be responsible for the entire process from start to finish, including editing, design, marketing, and distribution. While this may sound like a lot of work, self-publishing can be a great way to earn passive income. By taking on all of the responsibilities yourself, you can control every aspect of the book and ensure that it is exactly what you want it to be. In addition, self-publishing gives you the opportunity to keep a larger percentage of the profits from your book sales.
While there are many benefits to self-publishing, it is important to remember that this option is not for everyone. If you are not comfortable with taking on such a large project or if you do not have the time to devote to self-publishing, then it may not be the right choice for you. However, if you are willing to put in the work and you are confident in your ability to produce a high-quality book, then self-publishing can be a great way to earn some extra income.
There are many different types of books that can be self-published, from novels and memoirs to cookbooks and children's books. No matter what your interests or expertise, there's a good chance you can find a market for your book. Here are some of the most popular types of self-published books:
Fiction is always a popular genre for self-published books. If you have a great story to tell, consider writing a novel. You can either write it yourself or hire a ghostwriter to help you tell your story.
Memoirs are becoming increasingly popular, as people love reading true stories about other peoples' lives. If you have an interesting life story to share, consider writing a memoir. You can either write it yourself or hire a ghostwriter to help you tell your story.
Cookbooks are always popular, as people love trying new recipes. If you're a great cook with some delicious recipes to share, consider writing a cookbook. You can either write it yourself or hire a ghostwriter to help you compile your recipes.
Children's books are always in demand, as parents love buying them for their children. Thus writing good and engaging stories with morals can be a plot for a high-selling children’s book.
Now let’s evaluate what are the things that you have to look into to earn a good passive income like Rachel by publishing a book.
If you want to earn passive income through self-publishing, you need to create a plan. This means setting some goals and figuring out how you're going to achieve them. Are you going to publish one book or multiple books? What genre will your book(s) be? How much money do you want to make?
Creating a plan also means deciding on a business model. There are a few different ways to make money from self-publishing, and you need to decide which one is right for you. Are you going to sell your books directly to readers, or are you going to use a platform like Amazon Kindle Direct Publishing?
Once you have a plan in place, it's time to start writing! But remember, the key to earning passive income from self-publishing is to create multiple books. The more books you have for sale, the more chances you have of making money. So don't stop at just one!
Setting the right price for your book is essential to its success. If you price your book too high, it will be less likely to sell. If you price it too low, you won't make enough money to cover your costs.
The best way to determine a price for your book is to look at similar books that are already on the market. Look at their prices and compare them to the length and quality of your book. You should also consider how much it cost you to produce the book. Once you have a good idea of what other books are selling for, you can set a fair price for yours.
Remember, you want to make money from your book, but you don't want to overcharge your readers. Find a happy medium between making a profit and pricing your book so that it's affordable for your audience.
There are a lot of ways to make money these days, but one of the most fun and rewarding is self-publishing books. Not only do you get to see your name in print (or on an e-reader), but you can also earn some serious passive income.
If you're thinking about giving self-publishing a try, the first step is finding your voice. What kind of books do you want to write? What style will they be in? These are important questions to answer before you start writing, because they will shape the entire process.
Once you know what kind of book you want to write, the next step is starting to write. It's important not to get too bogged down in the details at this stage - just start writing and see where the story takes you. The more you write, the better you'll get at it, and the easier it will be to produce quality work.
Finally, once you've written a few drafts of your book, it's time to start thinking about marketing and promoting it. This is where you can really start to earn some passive income, because once your book is out there, it can continue to sell without any additional effort.
There are a lot of ways to make money from writing books, but one of the most lucrative is to self-publish and earn passive income. In order to make the most of this opportunity, it's important to develop a unique point of view (POV) that will make your books stand out from the crowd.
In the digital age, self-published authors have more control than ever before over how their books are promoted. But with so many options available, it can be tough to know where to start.
Here are a few tips for promoting your self-published book in the digital age:
Platforms like Twitter, Facebook, and Instagram are great for getting the word out about your book. Be sure to post regular updates and interact with your followers to keep them engaged.
Online retailers like Amazon and Barnes & Noble offer huge audiences for your book. Make sure your book is listed on these sites and take advantage of any promotional opportunities they offer.
Email is still one of the most effective ways to reach potential readers. Build up a list of potential readers and send them periodic updates about your book. Include links to where they can buy it online.
Platforms like Google AdWords and Facebook Ads can be effective ways to reach potential readers who might not otherwise come across your book. Be sure to target your ads carefully so you don’t waste money on people who are unlikely to buy your book.
Rachel Story inspires many young authors to write and self-publish their books to earn a good passive income. Self-publishing can be a great way to earn some extra money, and it's something that anyone can do. With the right platform and a little bit of effort, you can start earning passive income by self-publishing books. Follow the tips in this article and you'll be well on your way to success. And who knows, maybe one day you'll be able to quit your day job and live off your book sales!