You Can Become a Kindle Millionaire?
Lee Goldberg writes regularly on A Writer's Life
My friend author Joe Konrath has done extraordinarily well selling some of his unpublished books on the Kindle, making $1250 in royalties this month alone. That's very impressive. And since its free and easy to upload your book to Amazon for sale on the Kindle, I'm sure that Joe's success is very exciting and encouraging news to a lot of aspiring writers out there. But I suspect Joe's success is the exception rather than the rule. That said, he is encouraging others to follow his lead. He writes:
Joe is making a lot of assumptions based on the admirable success of his own Kindle titles. It's a big, big, BIG leap to think, just because his book has done well, that Robert W. Walker (or any other mid-list author) will sell 500 copies...or even 50 copies...of his out-of-print books on the Kindle each month.The average advance for a first time novel is still $5000. If Kindle keeps growing in popularity, and the Sony Reader opens up to author submissions like it intends to, I think a motivated writer will be able to make $5000 a year on a well-written e-novel. Or more. All without ever being in print.
[...]Robert W. Walker, has written over forty novels. Most of them are out of print, and the rights have reverted back to him. If he digitized and uploaded his books, and priced them at $1.59 (which earns him 70 cents a download), and sold 500 copies of each per month (I sold 500 of Origin and 780 of The List in May), he'd be making $14,000 a month, or $168,000 a year, on books that Big NY Publishing doesn't want anymore.
Even if he made half, or a third, or a fifth of that, that's decent money on books that he's not doing anything else with. Now, all of us aren't Rob, and we don't have 40 novels on our hard drives, especially 40 novels that were good enough to have once been published in print. But how long do you think it will be before some unknown author has a Kindle bestseller?










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