Hello everyone! Nice to meet everyone! I was recommended The Millionaire Fastlane by a peer in the online course I'm in, and I borrowed the book from the library, thinking it would be like every other biz book. Not true; this book BLEW my mind!!
I have spent the past 2.5 years building a self-publishing business on Amazon through their self-publishing platforms (Kindle Direct Publishing and ACX) thanks to the online course Audiobook Income Academy by the Mikkelsen Twins. This business model is super hot right now. It is one of the most passive income models out there; once you get everything up and running, you can spend 1 hour per week or even way less to operate it. I pull in about $7k in profit per month from 1 book, without doing anything to market or sell. I see tons of people on Amazon attempt to get their slice of the pie; it's very easy to get started, doesn't cost very much to get started, and the margins are 70%-80%. This is the "red ocean" so to speak, and you can get dethroned easily if you don't know what you're doing.
I am very proud of where I've gotten to, and today, I have the opportunity to choose my next adventure: continue growing the publishing business (but, because the model depends almost entirely on Amazon, it violates the Commandment of Control), or grow a new business that serves all of these people that want their own KDP business and want location independence and passive income.
There are several hugely-successful, multi-million-dollar businesses based on serving these small self-publishing business owners: online courses and coaching, content creation platforms, services to help publishers get more reviews for their book, brokers to help publishers sell their business when the time is right, etc. etc. The list goes on.
ONE THING I have yet to see untapped is a business that specializes in helping publishers buy and sell KDP businesses. There is a brokerage that is very popular called EmpireFlippers.com, and they specialize in buying and selling Amazon businesses. But, their buyer-base is almost entirely millionaires who can pay for a six-figure KDP business in cash. I have yet to see a business help "normal" people buy KDP businesses using financing, publicize what specifically helps KDP businesses increase their KDP-business valuation , and even help coach publishers through the process of performing the actions to actually increase their valuation.
Not only that, but KDP businesses are very valuable among rich folk who have a lot of cash and want to put their cash into a passive-income-generating business. I essentially have a skill creating a passive-income generating machine for rich people. I just don't know yet how to market this skill to rich people. I also have never bought or sold a KDP business before; in order to become an expert, I still need to experience the whole thing and THEN become an expert and THEN learn how to teach this or help others do this. There would be a long road ahead, but this is certainly a blue ocean.
I am SO curious to hear what people are thinking about this. My little heart tingles at the thought of lil' old me buying and selling businesses. It sounds very powerful, and my interest in this is higher than in other ways I could help KDP business owners.
I will share more of my thoughts in other threads and interact more in other threads. These are just the thoughts I have and would love to see if anyone has questions or thoughts on this!
Cheers,
Renee
Atlanta, USA
I have spent the past 2.5 years building a self-publishing business on Amazon through their self-publishing platforms (Kindle Direct Publishing and ACX) thanks to the online course Audiobook Income Academy by the Mikkelsen Twins. This business model is super hot right now. It is one of the most passive income models out there; once you get everything up and running, you can spend 1 hour per week or even way less to operate it. I pull in about $7k in profit per month from 1 book, without doing anything to market or sell. I see tons of people on Amazon attempt to get their slice of the pie; it's very easy to get started, doesn't cost very much to get started, and the margins are 70%-80%. This is the "red ocean" so to speak, and you can get dethroned easily if you don't know what you're doing.
I am very proud of where I've gotten to, and today, I have the opportunity to choose my next adventure: continue growing the publishing business (but, because the model depends almost entirely on Amazon, it violates the Commandment of Control), or grow a new business that serves all of these people that want their own KDP business and want location independence and passive income.
There are several hugely-successful, multi-million-dollar businesses based on serving these small self-publishing business owners: online courses and coaching, content creation platforms, services to help publishers get more reviews for their book, brokers to help publishers sell their business when the time is right, etc. etc. The list goes on.
ONE THING I have yet to see untapped is a business that specializes in helping publishers buy and sell KDP businesses. There is a brokerage that is very popular called EmpireFlippers.com, and they specialize in buying and selling Amazon businesses. But, their buyer-base is almost entirely millionaires who can pay for a six-figure KDP business in cash. I have yet to see a business help "normal" people buy KDP businesses using financing, publicize what specifically helps KDP businesses increase their KDP-business valuation , and even help coach publishers through the process of performing the actions to actually increase their valuation.
Not only that, but KDP businesses are very valuable among rich folk who have a lot of cash and want to put their cash into a passive-income-generating business. I essentially have a skill creating a passive-income generating machine for rich people. I just don't know yet how to market this skill to rich people. I also have never bought or sold a KDP business before; in order to become an expert, I still need to experience the whole thing and THEN become an expert and THEN learn how to teach this or help others do this. There would be a long road ahead, but this is certainly a blue ocean.
I am SO curious to hear what people are thinking about this. My little heart tingles at the thought of lil' old me buying and selling businesses. It sounds very powerful, and my interest in this is higher than in other ways I could help KDP business owners.
I will share more of my thoughts in other threads and interact more in other threads. These are just the thoughts I have and would love to see if anyone has questions or thoughts on this!
Cheers,
Renee
Atlanta, USA
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