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SPQ 035: Amazon Best Sellers Rank: Does the “#30,000 Rule” Apply to Categories?
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The Question…
Nigel asks, “When determining if a niche is profitable, does the 20,000/30,000 rule apply to the “Amazon Best Selling” rank in its entirety, or does it apply to any of the subcategories?”
Biggest Takeway…
Steve’s Answer…
In his question, Nigel referred to the “30,000 Rule.” Any book that has an Amazon ranking of 30,000 or below has at least five sales per day, which equates to 150 sales per month (or $300). In Steve’s early books, he recommended looking for a ranking of 20,000 or below, but Amazon is more competitive, so now he recommends a ranking of 30,000 as a benchmark. Continue reading
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SPQ 004: Should I Focus on One Book Niche at a Time?
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Some independent authors publish in multiple niches, while others focus on just one topic. In this episode, find out which strategy Steve recommends.
The Question…
Mia from SkinBrushingDetox.com asks,
“Do you think people should just focus on one niche? How many niches should you focus on? How about people with a lot of different interests?”
Biggest Takeaway…
Steve’s Answer…
Steve says he made the mistake of focusing on multiple niches early in his publishing career. Had he focused on one niche and built one audience, he could have been more successful. Continue reading
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SPQ 003: How Do You Determine the Profit Potential of a Niche or Book Idea?
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Picking the right niche is essential for self-publishing success. In this episode, Steve outlines his process for choosing a profitable book niche.
The Question…
Thom asks, “Do you have a specific step-by-step system in place for determining the profitability of any given niche or title?” People ask Steve this question all the time. Early in his publishing career, he made the mistake of creating books based on what people were already writing about. This was a mistake because it doesn’t add much to the marketplace. Instead of doing the same thing everyone else is doing, target a specific niche and focus on providing solutions for that audience.
Biggest Takeaway…
Steve’s Answer…
Once you have a niche in mind, think about the problems people in that audience face. In the self-publishing niche, people want to know about writing books, formatting books, selling books, building author platforms, and using social media as a marketing tool. There are five book ideas right there. Really drill down into one niche to come up with a lot of ideas that provide value for readers. Continue reading