If you need to become an effective business visionary, you must create sources of income that continue generating cash long after you’ve set them up. With passive income, you accomplish something once, and it keeps making you money. That is the allure of Amazon Kindle.
You can earn upwards of $100,000 every year by simply selling Word documents on Amazon Kindle. This implies:
- No physical items to make or sell
- No fulfillment
- No transportation
In reality, you don’t need to compose the documents yourself! When you generate passive income with Amazon Kindle, you’re essentially providing a computerized advantage for Amazon. They then do the work for you.
I had the opportunity to learn a lot from my discussion with one of the first pioneers of Amazon Kindle—Ty Cohen. Ty was one of my first web marketing companions, and we’ve remained friends over the years. He was kind enough to have a conversation with me that taught me an insane amount about creating passive income on Amazon Kindle. Now, I’m going to share what I learned from Ty with you.
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Who is Ty Cohen?
Ty is a major proponent of financial freedom. While I’m usually not a fan of reinventing the wheel, Ty’s a special case. He designed a system that allows him to generate thousands of dollars through Amazon Kindle, and he’s achieved true financial freedom for himself. His 3-step system is so easy that even his 15-year-old son has mastered it, and he now teaches this system to his students.
Ty got into Kindle through his love for the music business. After spending years in the industry, he organized what he’d learned into a book that he began selling on Amazon. Amazon was so impressed with his presentation that they made him a beta tester for Kindle Direct Publishing (KDP). He then started selling digital books through their platform and was astonished by the results.
At first, he was overly skeptical because he was so used to reading physical books. Keep in mind, this was when digital books weren’t popular yet. He ended up being wrong about digital books and, once he realized this, he transformed digital publishing into a substantial income stream. As far back as nine years ago, Ty was making $10,000-$12,000 per month through Kindle!
He decided to take on some beta students to teach them his system to see how well they did. Ty refined his system down to where it could work for anybody, and he concluded it was his obligation to share this system with others.
So, let’s take a look at how anyone can make money through digital publishing.
(Note: Want to learn from Ty himself? Check out his FREE course, Kindle Publishing Bootcamp, within Lurn Nation.)
The Power of Kindle To Generate Passive Income
Amazon has been around for more than 20 years now. When they started, their goal was to become the #1 book retailer in the world. They achieved this by opening their doors to anyone with content. When they entered the digital publishing space, they created the Kindle.
The Kindle allows users to shop, purchase, and download books to their device, but it’s also a physical product. Knowing not everyone would want to carry around a physical device, Amazon also made Kindle accessible as an application. This combination makes Kindle the best place to make your content available.
With Kindle, you quickly gain access to an existing client base—all of whom have Mastercards on record. Amazon also makes it simple for their clients to purchase, including a one-click option. So, what does that mean for you as a publisher?
Generally, Ty makes around $500 per month for each document he uploads. By uploading enough books, he makes around $30,000-$40,000 every month. Best of all, he doesn’t write the content himself. For instance, Ty’s son just put out a book about how to write a romance book and made $1,200 in a week. And he knows nothing about romance books.
You simply need to find a great topic and have someone else write a book for you. We’ll cover finding a content creator shortly, but first, let’s discuss Ty’s 3-step system.
Step 1: Market Research
Time and again, individuals attempt to launch a product without conducting any research and then wonder why it fails. Your initial step should be to determine whether there’s a purchasing market for the type of book you want to distribute.
The key here is the ‘purchasing’ market. People can desire things all day long, but it doesn’t benefit you if they aren’t buyers. You need to find something that is already selling well and then tap into that market to make money. Remember, people vote with their dollars. There are two primary strategies Ty uses for finding successful markets:
1: Udemy Udemy is an online learning platform that offers courses in a wide range of subjects. If you have an interest in a subject, you can search for that theme, look at the subcategories, and see what items are advertised.
2: Amazon It also makes sense to check Amazon to discover what sells best on their platform. Ty looks for books that have a Bestseller Rank (BSR) of 20,000 or less. When he finds even one book with a ranking of 20,000 or less, he knows he’s hit the jackpot.
Step 2: Getting a Content Creator
Once you’ve done your market research, it’s time to create your content. Again, you can write the content yourself if you’d like, but you can also hire a content creator. His two most favored sites to find content creators are:
- Guru.com
- Upwork.com
You can find excellent content creators at generally low costs on both of these sites. He often gets his 25-page reports written for as little as $125-$150 each. Remember, when searching for an author, they should have positive feedback, be a native English speaker, and fit within your budget.
Step 3: Create Your KDP Account
Amazon has made this process simple. Not only is it fast to start your KDP account, but it’s also free because Amazon wants as much content on their platform as possible. The more content they have, the more money they make. Once you’ve created your KDP account, take your Word document and publish it on Amazon. Amazon will then do all the heavy lifting for you.
They have one-click buying, recommended items, and various methods to ensure their customers buy as much as possible. Amazon has spent over 20 years building their platform and have a cult-like following. When you work with Amazon, you’re reaching a built-in customer base that likes and trusts the platform. Just like in real estate, it’s all about location. People are already on Amazon—you just need to create content and put it in front of them.
Conclusion
Generating passive income through Amazon Kindle is a lucrative and accessible opportunity for anyone willing to invest time in market research and content creation. By leveraging the power of Amazon’s extensive customer base and easy-to-use Kindle Direct Publishing (KDP) platform, you can tap into a vast market of eager buyers. Ty Cohen’s three-step system—conducting thorough market research, hiring content creators, and setting up a KDP account—provides a straightforward roadmap to success. This method has proven to be effective not only for Ty but also for his students, showcasing its potential to transform digital publishing into a steady income stream.
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The simplicity of Ty’s approach means that you don’t need to be a writer or have extensive technical skills to succeed. The key lies in identifying profitable niches and outsourcing content creation to skilled freelancers, which can be done affordably through platforms like Guru and Upwork. This way, you can focus on scaling your business by continually adding new content to your Kindle library. With minimal initial investment and no need for physical inventory, the barriers to entry are low, making it an attractive option for aspiring entrepreneurs.
Overall, Ty Cohen’s success story illustrates the immense potential of digital publishing on Amazon Kindle. By following his proven system, you can achieve financial freedom and enjoy the benefits of passive income. The journey to becoming a successful business visionary starts with a single step, and with the right guidance and determination, you can turn your digital publishing efforts into a thriving and sustainable business.
