Author Earnings Report: November 2020Dec 04, 2020
I set personal records for monthly profit ($7939), KDP revenue ($9729), and page reads (1.67 million). Except for a few predictably slow days around Thanksgiving, sales and KU page reads remained consistent all month.
There were no new releases in November. But the late-October release of the last book in my Darkwater Cove thriller series stayed strong all November and helped drive sales of book one.
Her Last Breath, book one in my new Wolf Lake thriller series, hits Amazon on December 9. A new series, a new revenue stream, and another opportunity to reach readers. My ambitious publishing schedule has me releasing a new book in this series every 45-50 days.
Things I need to work on
Audible sales continue to flounder despite my efforts to give out every available free code. And ACX has yet to review the audiobook I finalized on October 11, so I’m pulling back on audio efforts for now and will consider Findaway Voices for future productions.
I haven’t put enough effort into international AMS and Facebook ads and need to step up my game. My revenue is too US-centric.
Next goals – $10K revenue and $8K profit in one month. I’m very close and know I can do this.
Now, it’s your turn
If anyone wonders – “Can I do this too?” Yes, you absolutely can. In November 2019, I earned $1165 in revenue and $480 in profit. I increased my monthly profit by 16.5x over one year, and that can be your 2021…if you want it bad enough.
I’ll do my part and post new “advice for writers” articles in the coming months. Hang in there. We’ll learn together.
The Power of SMART Goals
If you’ve been in the business, corporate, or even the self-help world, you’ve likely heard of SMART goals. But don’t shrug it off as corporate mumbo-jumbo. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. This isn’t just jargon; it’s a killer strategy to up your game.
The concept of SMART goals isn’t some newfangled invention of the digital age; it has its roots in a 1981 issue of the Management Review journal. George T. Doran, a consultant and former director of corporate planning for Washington Water Power Company, is credited with introducing the acronym SMART as a way to guide people in their goal-setting process. It was part of a published article aimed at helping managers define clear, attainable objectives for their teams.
Since then, the SMART framework has transcended the corporate world, finding applications in everything from personal development to, you guessed it, indie authorship. So when you use SMART goals, you’re employing a strategy with a proven track record that’s been around for four decades. Talk about standing the test of time!
When I set out to reach the $10K revenue mark, it wasn’t a wish; it was a SMART goal. I broke it down: How many books did I need to sell? On which platforms? By when? That clarity makes all the difference, my friends.
Visualize to Materialize
Alright, it may sound like something from a self-help book, but visualization really helps. I have a vision board right above my writing desk. It has my short-term and long-term goals, plotted out and prettied up. Every time I look up from my laptop, it’s there—reminding, motivating, almost taunting me to get back to work. It’s like having a personal coach, except it doesn’t yell.
Don’t wait until the end of the year to see if you’ve reached your annual goals. That’s like cramming for an exam the night before—you might pass, but you’ll probably also have a breakdown. Sit down at the end of every month and review your performance. Did you meet your goals? If yes, kudos, you’re a rockstar. If not, try to understand why. Analyze, don’t agonize.
Plan for Seasonal Lulls
Seasonal ups and downs are inevitable in this industry. Instead of fretting over slow sales around holidays, use that time to prepare for the next big push. My strategy usually includes scheduling new releases right after a predictable slow period. The sudden spike in new content usually helps to kickstart revenue.
Don’t Underestimate the Power of Community
Writing is often a lonely endeavor, but meeting goals doesn’t have to be a solitary struggle. Connect with other writers, join forums, and don’t shy away from sharing your milestones. Others’ success stories can be fantastic motivators. Plus, you never know when you’ll get a golden nugget of advice that could help you reach your own targets.
Course-Correct and Keep Moving
Goals aren’t set in stone. They’re more like signposts on a winding road. If you find that a particular strategy isn’t yielding results, don’t be stubborn about sticking to it. Adjust your sails and continue to navigate the stormy seas of authorship.
Reflect and Reset, but Don’t Regret
Look, no one hits the bullseye every single time. It’s human to miss the mark now and then. Instead of dwelling on what didn’t work, reflect on it. What lessons can you extract from the experience? Use these insights to reset your goals, realign your strategies, and recommit to your objectives. This cycle of reflect, reset, and recommit is not a sign of failure; it’s a sign of growth, resilience, and adaptability. So when you do miss that target, don’t wallow in regret; use it as fuel for your next big leap. Trust me, the only true failure in this game is not learning from the journey.
Your Goals Are Your Own
Remember, your goals should be a motivating factor, not a source of stress. Comparing your Chapter 1 to someone else’s Chapter 20 is a one-way ticket to Burnout City. Set goals that challenge you but are also in sync with your personal life, writing speed, and mental health.
If you’re serious about scaling the heights of indie authorship, it all boils down to setting realistic, yet ambitious goals, and then busting your hump to achieve them. Take it from someone who’s been there, done that: If I can do it, so can you. Keep setting those goals, keep smashing them, and above all, keep writing. 🚀📚💰
What are your writing goals for 2021?