In February 2016 I printed my first enterprise e book, known as Will It Fly? How to Test Your Next Business Idea So You Don't Waste Your Time and Money. Earlier than that I’d printed my first ever e book, a memoir known as Let Go. Will It Fly? has been very profitable, and I hope it units a baseline for what could be achieved with Superfans, my subsequent e book that’s popping out on August 13. On this weblog submit, I need to share all of the numbers behind that success, via an in depth earnings report on the earnings for Will It Fly? because the e book was launched.
The Return of the Earnings Report
It’s been three years and 4 months since Will It Fly? got here out. Right now, I’m going to share all of the numbers we’ve tracked over that point, together with book gross sales, paperback gross sales, audiobook gross sales, and audiobook bounty unit gross sales. (I’ll clarify what that's in a minute.) I’ll additionally share particulars on international royalties, in addition to earnings generated past the e book based mostly on gathering emails and driving folks right into a associated course.
For these of you who've been round for some time, this submit might look rather a lot like a few of my older earnings reviews. Within the first 9 years of Good Passive Earnings, I did an in depth month-to-month earnings report for all my companies, all my merchandise, and all their earnings. However ultimately there have been so many items concerned that I couldn’t go into a lot element about any single one in every of them. I began to really feel just like the earnings reviews had been turning into much less useful.
So I ended doing them. However I feel there’s nonetheless potential worth in this type of report. So I’ve determined to do occasional earnings reviews based mostly on particular merchandise or campaigns. That means, I can go deeper to know how that product or marketing campaign has carried out and set up some helpful takeaways.
With all that mentioned, let’s dig into the Will It Fly? numbers! These numbers are all correct as of the top of Could 2019.
The Bread and Butter: Will It Fly? Book and Paperback Gross sales
We’ll begin with book gross sales, which got here from virtually 20,000 models. They had been offered principally at $6.99 every (as a result of I provided limited-time reductions via Amazon once in a while), producing $32,893.93. However though there have been extra book models than paperback models offered (as you’ll see in a second), we made extra money from the paperback due to the royalty charges. At $7 per book on common, we acquired 70 % and Amazon took 30 %.
Talking of the paperback, we offered 13,556 models at a retail worth of $16.95. Nonetheless, Amazon likes to mess around with worth factors, and due to that, we weren’t at all times incomes royalties based mostly on $16.95 for every unit offered. Amazon adjustments the value mechanically through algorithms to optimize it for gross sales. For instance, Will It Fly? is at the moment being offered for $11.25, so relying on how Amazon costs it, the royalty quantity will change each time.
Paperback gross sales got here to $62,495.48. There have been additionally circumstances the place I spoke at conferences and the organizers purchased a number of copies for his or her attendees; there have been additionally superior followers who needed to help me with bulk orders of the e book. These numbers, which weren’t counted in the principle paperback gross sales as a result of they had been dealt with instantly via CreateSpace, totaled about $three,500.
Paperback and book gross sales mixed got here to roughly $100,000. Not too shabby!
Then we've Kindle Limitless royalties. Authors who self publish on Amazon via KDP additionally earn a 70 % royalty on books worth between $2.00 and $9.99 and a 35 % royalty on books that price roughly than that. With Kindle Limitless, nonetheless, you’re eligible for royalty funds from Kindle Limitless and the lending library. Meaning you get a share from a world royalty fund, relying on the scale of the fund every month and on how a lot of your e book folks have truly learn. Since Will It Fly? was launched, I've earned about $four,000 from these royalties.
Actually Taking Off: The Will It Fly? Audiobook
With the audiobook, we offered 19,389 models. That is the place issues get actually fascinating. We positively offered extra Kindle and paperback copies, however with the audiobook, I get a much bigger lower of every sale—about $5 per sale. Because of this, I’ve made nearly the identical with audiobook gross sales as I've with Kindle and paperback gross sales: $96,945. That’s fairly superb, and it exhibits you the facility of providing an audiobook. I’m particularly grateful that I’ve stored the rights to my audiobooks and can proceed doing that shifting ahead, together with with my subsequent e book, Superfans.
You can also make much more cash on the audiobook than different e book codecs—which is why lots of people have questioned why I’m giving freely the audiobook model of Superfans totally free through the pre-launch interval. That’s proper: If you happen to pre-order Superfans earlier than August 13 and submit your receipt at yoursuperfans.com, you’ll get the audiobook totally free.
Sure, we’re giving freely the audiobook through the pre-launch, which suggests we'd find yourself dropping cash on it. But it surely’s extra essential to me to supply a ton of worth and provides folks an incentive to pre-order the e book. Truthfully, that may even assist me get as many gross sales as potential on launch day and perhaps even enhance Superfans onto one other bestseller checklist. Will It Fly? became a Wall Street Journal bestseller after per week, which was superb, particularly as a self-published e book. Superfans is being self-published too, and whereas the bestseller checklist isn’t my major purpose for the e book—serving to folks is—I’d be fairly psyched if Superfans grew to become a bestseller, too.
Pat Flynn, Bounty Hunter
Now, let’s speak bounty models. What are bounty models, you ask? Nicely, when you may have a e book on Audible, in case you can persuade somebody to buy an Audible subscription and they make your e book their first e book, you get a $50 bounty. What’s particularly good is Audible provides an individual their first credit score totally free after they subscribe. So in the event that they use that free credit score on your e book, you’re going to get $50 in the event that they proceed their subscription.
I used to be capable of promote 490 bounty models at $50 every, which is $24,500. That, added to $96,000, introduced whole audiobook gross sales to $121,455. Complete book gross sales (in case you additionally rely the Kindle Limitless royalties) got here to $36,981.81, which is much lower than the audiobook gross sales. So in relation to digital audio versus digital print, there’s the chance for nearly a four-times return in case you prioritize the audiobook.
Breaking the 50Okay Unit Barrier
Meaning whole e book earnings from the self-published e book, with 52,166 models offered, got here to $224,432.29. We broke 50,000 unit gross sales, which is basically cool. Complete earnings per unit was about $four.30, each audio and digital and paperback thought of. 1 / 4 million dollars shouldn't be unhealthy, particularly when you think about that generally royalties for historically printed books don’t get to that degree! These royalties, on common, are within the four-, perhaps five-figure vary. However we positively made much more cash from the e book alone by self-publishing, which was superb.
That mentioned Will It Fly? wasn’t solely a self-published e book. Yup, there’s extra to the story . . .
Will It Fly Throughout the Ocean? Sure!
Then there’s whole royalties from international rights. That’s proper, Will It Fly? is worldwide! I labored with an agent who helped me promote the e book to conventional publishers throughout the ocean in just a few completely different international locations, together with Korea, Vietnam, Romania, Taiwan, and Poland, for a complete of $19,600 in advances. Listed here are some photos of the covers of the e book because it was printed in just a few of these locations.
As a result of these variations had been printed by conventional publishers, I didn’t have any say within the e book cowl design or any of that stuff. I simply offered the e book to them and so they made it occur. But it surely’s been actually cool and gratifying to see the e book develop past the US, with the assorted superior cowl designs.
I’ve been noticing, particularly in Poland, that lots of people are responding rather well to Will It Fly?. They’re speaking concerning the e book utilizing hashtags and tagging me on Twitter and Instagram.
Serving and Promoting Past the Guide
All in all, the e book itself has generated $244,zero32.29. Nonetheless, e book gross sales are only one group of transactions associated to the e book. There are different methods to make use of a e book to generate income and serve your viewers. As any good enterprise proprietor is aware of, a e book could be handled as step one in a course of to generate extra gross sales and finally assist extra folks, which can assist generate much more gross sales.
Past the e book, there are a pair fascinating notes to share. First, I created a free companion course that I linked to within the e book. The Will It Fly? Companion Course has allowed me to gather e mail addresses so I can keep in common contact with my readers. The great thing about this companion course is that though it’s free, it’s nonetheless actually useful to the reader. The course is type of an apparent subsequent step for somebody who’s learn the e book and who desires to get entry to extra instruments and extra sources. The course was created utilizing Teachable, and it took a couple of day and a half to place collectively. It’s not designed to assist folks by itself, however when mixed with the e book it positively provides worth.
At this level, 26,680 folks have enrolled within the Will It Fly? Companion Course. Meaning greater than half the individuals who learn the e book have agreed to share their e mail addresses with me.
This can be a HUGE deal. Let me repeat that:
Greater than half the individuals who learn my e book gave me their e mail deal with
(This quantity doesn’t embrace individuals who bought the e book in international international locations as a result of I’m unable to trace these figures. It’s most likely lower than 50 % general, however very near 50.)
Some of the essential causes to create a course or another strategy to gather e mail addresses is Amazon (or any retailer, for that matter) doesn’t provide you with your readers’ e mail addresses. Particularly, I’ve used that checklist to assist solicit evaluations for the e book. We’re approaching 800 evaluations on Amazon proper now, which is superb, and greater than another fashionable books by better-known authors. So thanks to everyone who has left a overview. And if you’ve read Will It Fly? and haven’t left a review, I’d love to know what you thought of it.
Will It Fly? Led to Considered one of My Most Fashionable Programs
Gathering e mail addresses has additionally helped generate extra gross sales from one other course I created. That course, Smart From Scratch, took place on account of a request from many Will It Fly? readers who mentioned they needed to go deeper.
I opened Good From Scratch initially to beta testers for $147, and it’s at the moment out there for $249.
General, 1,684 college students have enrolled in Good From Scratch, which has generated $215,308.71. It’s been superb to see how the e book grew to become step one that led so many individuals to need to go deeper and get entry to step-by-step tutorials, particular examples, and help and accountability via neighborhood and workplace hours.
Will It Fly? Recipe for Guide Success: Reply the Burning Questions
The grand whole of earnings instantly and not directly from Will It Fly?, from self-publishing the e book, promoting it abroad, and promoting the Good From Scratch course, got here to $459,341. I’m extraordinarily proud of that, and it’s been actually neat to return in time and see how this e book has carried out.
I hope you discover this inspiring as you construct your platform, as a result of the platform I’ve constructed is certainly the explanation this e book has been so profitable. Will It Fly? wasn’t a viral hit like Hal Elrod’s Miracle Morning, which tackles among the fears and points folks encounter after they need to begin a enterprise or change their life, and has actually taken off. However Will It Fly? has nonetheless been a giant success, and I’m actually proud of the way it’s completed.
This brings me to why I imagine this e book has grow to be so successful, and that’s as a result of it answered among the most burning questions my viewers was asking. The content material for the e book was based mostly on the solutions to a survey I did in 2014, mixed with various conversations and questions on social media amongst my viewers about what they wanted assist with. They usually advised me precisely what they wanted assist with. They didn’t know the place to get began. They didn’t know learn how to choose a distinct segment. They didn’t know learn how to do market analysis. They had been afraid of dropping cash and losing time. Therefore: Will It Fly? The way to Take a look at Your Subsequent Enterprise Thought So You Don’t Waste Your Time and Cash.
Each Guide Is an Alternative to Serve Extra Folks
Lastly, a giant thanks to everybody who’s supported Will It Fly?. This e book is proof you can serve and promote on the similar time. And a e book is an effective way to try this, due to all of the methods you'll be able to join it to different alternatives and choices, like your e mail checklist, programs, teaching packages, and different merchandise you'll be able to present to raised serve your viewers.
This e book, together with all the pieces that’s occurred within the wake of it, such because the companion course and Good From Scratch, has been one other SPI experiment that has helped me study and develop. I’m very grateful for it, particularly the truth that the viewers is what has made it the success that it's. I’m hoping for comparable success, if no more, with Superfans, not simply by way of gross sales and income, however the way it can assist folks.
I do know from expertise that constructing superfans and creating superb experiences on your followers is the easiest way to futureproof your enterprise. It’s the not-so secret secret to success in enterprise. I feel each enterprise, irrespective of its measurement, can profit from creating superfans. Even in case you’re simply beginning out, studying these items up entrance goes that can assist you stand out. It’s going that can assist you deal with or keep away from numerous the technological and aggressive challenges on the market proper now.
If you happen to assume your enterprise can profit from creating its personal military of superfans, then Superfans is for you. You will get the audiobook model of Superfans totally free by pre-ordering the e book on Amazon or Barnes & Noble, then going to yoursuperfans.com and sending us your receipt.
So Staff Flynn, you’re superb. Thanks on your help of Will It Fly? and all the pieces else I do. I hope this submit was eye-opening and helped you see all the probabilities that exist for you with a self-published e book. Now go get your self a replica of Superfans, and have a fantastic day!
Addendum: The Numbers for Will It Fly?
*Printed February 2016 | Figures correct as of Could 31, 2019
- Book Gross sales: 19,221 models (at $6.99 every) = $32,893.93
- Paperback Gross sales: 13,556 models (at $16.95 every) = $62,495.48 (~$four.61 per e book royalty)
- Kindle Limitless Royalties: $four,087.88
- Audiobook Gross sales: 19,389 models (revenue $5 per sale) = $96,945
- Bounty Models: 490 ($50 every) = $24,500
- Complete Audiobook Gross sales: $24,500 + $96,945 = $121,455
- Complete Book Gross sales: $32,893.93 + $four,087.88 = $36,981.81
- Complete Paperback Gross sales: $62,495.48
- Complete Bulk Paperback Gross sales (from Conferences and others): $three,500.00
- Complete Guide Earnings (Self Printed): $224,432.29
- Complete Models Bought: 52,166
- Complete Earnings Per Unit: ~$four.30
Royalties from Overseas Rights
- Korea: $10,000
- Vietnam: $1,200
- Romania: $1,000
- Taiwan: $5,600
- Poland: $1,800
- Complete Overseas Royalties: $19,600
- Complete: $244,zero32.29
Past the Guide
- Emails Collected through Will It Fly? Companion Course: 26,680 enrolled on Teachable (51 % conversion fee!)
- Good from Scratch Course (Will It Fly? Leads into Good from Scratch. Be aware: Not everybody in SFS has learn Will It Fly?, however it teaches the identical materials, in far more depth, with step-by-step examples and accountability, neighborhood, and workplace hours): 1,684 college students enrolled, $215,308.71 in earnings
- Grand Complete: $459,341.00