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Old 1st January 2012, 11:10 AM   #31 (permalink)
Stephen J Sweeney
 
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Re: A year of self publishing (Sept '11 - Aug '12)

Morning All! Happy New Year to you!

Decembers total was 1,197, and the grand total is 5537.

Those numbers are slightly skewed, as I recently found out how to get the sales data out of Smashwords. And, wow... Amazon stamps on other e-retailers something terrible! My Amazon sales out do the others by a factor of about 6-1 combined..! Food for thought.
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Old 1st January 2012, 11:54 AM   #32 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Very well done Scarfy, having read your initial paper effort; and thoroughly enjoyed I might add. I think your showing potential writers the way to go.

Is there any way you can push the sales, maybe investing some of your revenue on adwords?
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Old 1st January 2012, 12:07 PM   #33 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Funnily enough, Google provided me with 100 of free adwords. I've used it, but found it completely ineffective..! People tend to look at charts and recommendations from other people when choosing a book to read. Price points will also help people to risk a spontaneous purchase.
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Old 1st January 2012, 12:19 PM   #34 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Thats a pity. Are you on Twitter?
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Old 2nd January 2012, 08:41 AM   #35 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Yep.

You can get me at: http://twitter.com/stephenjsweeney

Be warned - I tend to speak mostly about food
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Old 2nd January 2012, 11:16 AM   #36 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Haha Another foody.

Your talking to the Michele Rude of Northumberland
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Old 2nd January 2012, 01:59 PM   #37 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Ah another Chrons member I can listen to on Twitter! Added.

And again thanks for the shared insights into how things are going with the self-publishing. It's interesting to see just how far out in front Amazon is in terms of bringing in sales.
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Old 8th January 2012, 12:42 PM   #38 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Just a quick comment on limited companies and tax liabilities - most company directors of a small business pay themselves via dividends, with a small wage that covers their free tax allowance.

The result is that you do not pay NI, and the income from the dividends is effectively tax-free in the lower income tax band because corporation tax has already been paid on the profits, and therefore acts as a tax credit.

Note that dividends can only be drawn on net profits without causing trouble. If you receive income in the upper tax bracket (ie, 40%) then your effective payment rate of tax is actually 25%, because of this credit.

However, with a limited company you will need an accountant to sign off your accounts which incurs a small cost.

I'm told that there is a point of balance where income below a certain threshhold favours being a sole trader, and income above favours a limited company. I'm not sure what it is, though, if any such threshold exists.
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Old 10th January 2012, 02:08 PM   #39 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Hi Steve,

I hope your well. I have a few questions which, if you don't mind, perhaps you can answer for me?

1) Once you've edited your story (Say in Word.) How did you put it on Amazon.

2) Why 1.99. I notice alot of books, inc the bestsellers are 4-6?

3) Of you sales, how is it broken down between book 1 and book 2?

4) How often do Amazon payout your revenues?

Best Regards as always.
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Old 10th January 2012, 06:04 PM   #40 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Quote:
Originally Posted by I, Brian View Post

However, with a limited company you will need an accountant to sign off your accounts which incurs a small cost.
With a small Ltd company you can do your own accounts. It is several years in the past now, and I have forgotten the exact tax details, but I was briefly director of my own Ltd Company. I was offered some urgent contract IT and admin said "you must form a limited company before we can pay you".

I bought a boiler plate Ltd company via the Internet (I think I paid about 40), and at the end of the year did my own accounts. I bought a book on Ltd Companies from Amazon to help. Basically there is an option somewhere (assume it still exists) to say "this is a small company with a turnover of less than x". You then have to supply far less information and you don't have to have an accountant sign off on the accounts you produce. The HMRC website for the company tax was pretty good.

You do also have to file an annual return with Companies House and pay an annual fee. Possibly 20.

It is possibly worth ringing up the HMRC helpline and seeing if one or more specialists can talk you through the options. They can be very helpful.
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Old 10th January 2012, 06:09 PM   #41 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Quote:
Originally Posted by Scarfy View Post
Funnily enough, Google provided me with 100 of free adwords. I've used it, but found it completely ineffective..! People tend to look at charts and recommendations from other people when choosing a book to read. Price points will also help people to risk a spontaneous purchase.
You might want to add in the old fashioned one of talking to your local newspaper. I would have thought there is a relatively high take-up on e-Books in the London area, but people do also still read their local paper. So an article on local resident writes book and what it is about. Might get you a few more sales.
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Old 11th January 2012, 08:10 AM   #42 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Hi Gary,

Quote:
Originally Posted by Gary Compton View Post
1) Once you've edited your story (Say in Word.) How did you put it on Amazon.
It's as simple as going to,

https://kdp.amazon.com/self-publishing/signin/

and signing in using your Amazon account. After that, you can just upload your Word doc, your cover, and set your prices. There are some formatting considerations you want to make yourself with the doc (best to Google that, as it'll be more concise than I can tell you here).

Quote:
Originally Posted by Gary Compton View Post
2) Why 1.99. I notice alot of books, inc the bestsellers are 4-6?
I find that 1.99 is attractive enough for people to take a chance on a book by someone they've not heard of before, and enough to make a fair profit. The sellers at 5+ are generally from tie-ins of films, or have first been pushed up the charts with their 0.99 price point, before being changed to 4.99 (this happens a lot at the moment..!)

Quote:
Originally Posted by Gary Compton View Post
3) Of you sales, how is it broken down between book 1 and book 2?
75% book 2, and 25% book 1 (since the first edition of the first book is free, a fair number of people skip buying it).

Quote:
Originally Posted by Gary Compton View Post
4) How often do Amazon payout your revenues?
Once you make 100 or $100 they will pay out. The US will withhold 30% of your earnings if you don't submit an ITIN to them (again, you'll need to Google that, as that's REALLY complicated!).

Steve
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Old 11th January 2012, 08:12 AM   #43 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Quote:
Originally Posted by Montero View Post
You might want to add in the old fashioned one of talking to your local newspaper. I would have thought there is a relatively high take-up on e-Books in the London area, but people do also still read their local paper. So an article on local resident writes book and what it is about. Might get you a few more sales.
Right now, I think the best ad I already have going is the ability to read the first edition of the first book for free...
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Old 11th January 2012, 09:10 AM   #44 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Quote:
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Once you make 100 or $100 they will pay out.
100 (/$/) if you're getting paid by cheque, or 10 if you provide them bank details. Although for a UK bank you can't take payment in $s (which is all Amazon.com will pay in), but all the European Amazon sites allow you to select payment in s.


Quote:
Originally Posted by Scarfy View Post
The US will withhold 30% of your earnings if you don't submit an ITIN to them (again, you'll need to Google that, as that's REALLY complicated!).
It's intimidating, but not necessarily that difficult with help. There are a few places where people have described how they've gone about it, which I used as a guide, and I've written it out myself on another forum. Unfortunately I haven't posted her enough to be able to include a link, but if you google "gareth lewis" "itin" (with the quotes around them) it comes up on the first couple of results.
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Old 11th January 2012, 09:21 AM   #45 (permalink)
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Re: A year of self publishing (Sept '11 - Aug '12)

Quote:
Originally Posted by Scarfy View Post
Hi Gary,

and signing in using your Amazon account. After that, you can just upload your Word doc, your cover, and set your prices. There are some formatting considerations you want to make yourself with the doc (best to Google that, as it'll be more concise than I can tell you here).
What wording would you best suggest for the Google search on the formatting issues?
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