I just read the first four paragraphs of this thread, and Bros Omo you Sabi work. No vex o but I go finish you with questions once I'm done reading tomorrow

HeliosHay:


If you're operating a PayPal account from Nigeria, you can send money to another PayPal account anywhere in the world BUT you can't withdraw funds from your PayPal account.

Noted. Thanks for the info. I'm hoping to be one of your millionaire students and thank you for the opportunity.

joeeee240:


Noted. Thanks for the info. I'm hoping to be one of your millionaire students and thank you for the opportunity.

You're welcome

HeliosHay:
Momentum Continues

The momentum in paperback sales have carried on into the month of July - made 32 paperback sales yesterday. This is one of the best starts I've had to a month and it bodes well for the rest of July.

Audiobook sales have been fairly consistent as well.

What kind of books brings in such nice sales?

joeeee240:


What kind of books brings in such nice sales?

Unfortunately, that's not information I can give out freely - To avoid offending other people who have paid for it.

In the blueprint, I gave away more than 5 profitable keywords/niches to publish in and I am currently in some of those niches. They have a lot of demand

HeliosHay:


Unfortunately, that's not information I can give out freely - To avoid offending other people who have paid for it.

In the blueprint, I gave away more than 5 profitable keywords/niches to publish in and I am currently in some of those niches. They have a lot of demand

Oh..I see. So if I get the blueprint, I'll get to know all profitable keywords/niches?

joeeee240:


Oh..I see. So if I get the blueprint, I'll get to know all profitable keywords/niches?

You won't get to know ALL profitable keywords on Amazon...I myself don't know all of them. The Amazon store has hundreds (if not thousands) of profitable niches and keywords. You just need to know how to find them

In the book, I give you 5 very profitable keywords and how to go about finding profitable keywords yourself (i.e. a keyword research template)

Once you know how to fish, you won't need anyone to give you fish.

HeliosHay:


You won't get to know ALL profitable keywords on Amazon...I myself don't know all of them. The Amazon store has hundreds (if not thousands) of profitable niches and keywords. You just need to know how to find them

In the book, I give you 5 very profitable keywords and how to go about finding profitable keywords yourself (i.e. a keyword research template)

Once you know how to fish, you won't need anyone to give you fish.

Alright, thanks. When I'm done reading the thread, I'll get back to you

joeeee240:


Alright, thanks. When I'm done reading the thread, I'll get back to you

You're welcome

Royalties in Kindle Unlimited and Kindle Owners' Lending Library

You're eligible for royalty payment from Kindle Unlimited (KU, or Abonnement Kindle in France) and the Kindle Owners' Lending Library (KOLL) for pages an individual customer reads in your book for the first time.

A customer can read your book as many times as they like, but Amazon will only pay you for the number of pages read the first time the customer reads them. It may take months for customers to read pages in your book, but no matter how long it takes, Amazon will still pay you once it happens. This is true even if your KDP Select enrollment period has expired, and you choose not to re-enroll.

To determine a book's page count in a way that works across genres, devices, and display settings, Amazon developed the Kindle Edition Normalized Page Count (KENPC). KENPC is calculated using standard formatting settings (font, line height, line spacing, etc.). They use KENPC to measure the number of pages customers read in your book, starting with the Start Reading Location (SRL) to the end of your book. Amazon typically sets SRL at chapter 1 so readers can start reading the core content of your book as soon as they open it. Non-text elements within books including images, charts and graphs will count toward a book’s KENPC.

KENPC v3.0

Amazon released KENPC v3.0 to improve the way they measure how many pages of each book Kindle Unlimited and KOLL customers read. These changes continue to improve the program and reward authors whose books are being borrowed and read the most by customers.

The KENPC v3.0 update applies uniformly to all KDP Select books and all versions of those books. Regardless of which version a customer may be reading, all future royalties will be paid using KENPC v3.0. If a customer previously borrowed your book and is still reading it, any new pages read will be based on KENPC v3.0.

Authors are able to earn a maximum of 3,000 Kindle Edition Normalized Pages (KENPs) read per title per customer. This means that each time your book is borrowed and read, you will receive credit for up to 3,000 pages.


Your book's KENPC

You can see your book's KENPC v3.0 listed on the "Promote and Advertise" page in your Bookshelf, and you can also see total pages read on your Sales Dashboard report. Because it's based on default settings, KENPC v3.0 may vary from page counts listed on your Amazon detail page, which are derived from other sources.

Cashflow Management

In order to thrive in business, this is one of the skills you'll need to learn. When you start your publishing journey, it's important you familiarize yourself with the different payment cycles.

1. KDP pays every 60 days (meaning that royalties earned in January are paid in March ending)
2. ACX pays every 30 days (meaning that royalties earned in January are paid in February ending)

Of course, you'll only feel this lag as a beginner because, after 2 months in this business, you'll begin to receive payments from KDP and ACX every month (even though the payment from KDP will be royalties earned 2 months prior).

So, if you're investing money in this business, know beforehand when you can expect to get any payment.

HeliosHay:


If you're operating a PayPal account from Nigeria, you can send money to another PayPal account anywhere in the world BUT you can't withdraw funds from your PayPal account.

So how do freelancers get their money?

generationz:



So how do freelancers get their money?

If you're freelancing from Nigeria, I have no idea. Maybe they go through exchanges..they send their PayPal balance to another person (not resident in Nigeria) who can withdraw funds and, in exchange, the person will pay the naira equivalent into their account after taking a commission.

Ofcourse you have to trust the person you're dealing with

Most freelancer s receive their payout through payoneer. You can register for free payoneer account.
click here

generationz:



So how do freelancers get their money?

Sales Update

July sales have been going good so far. Only 8 days into the month and I have surpassed $1000 in paperback sales alone. Total estimated sales for July (ebook, paperback, kenp and audiobook) has surpassed $2000. At this pace, I'm on target for another $9000+ month.

Total Earnings to date (in 2019): $60,000+ (N21.6 million)

If I can build up my publishing empire to this scale in less than 3 years, you can do it too (if not faster). The blueprint is there to guide you.

eliok:
Most freelancer s receive their payout through payoneer. You can register for free payoneer account.
click here

Don't I need an American number for this?

generationz:




Don't I need an American number for this?

You don't need any American number to register a Payoneer account. You just need to provide a valid ID..after that, they'll give you a US Bank account which is linked to your local bank account in Nigeria

HeliosHay:


You don't need any American number to register a Payoneer account. You just need to provide a valid ID..after that, they'll give you a US Bank account which is linked to your local bank account in Nigeria

Thanks

generationz:


Thanks

You're welcome

Shiny Object Syndrome

At its core, shiny object syndrome (SOS) is a disease of distraction, and it affects entrepreneurs.

It’s called shiny object syndrome because it’s the entrepreneurial equivalent of a small child chasing after shiny objects. Once they get there and see what the object is, they immediately lose interest and start chasing the next thing. For entrepreneurs, rather than literal shiny objects, it may be business opportunities, marketing strategies etc.

You get excited by a business opportunity, you get started and midway through it, you've already lost interest and set your eyes on the next thing that's likely to make money. As a result, you don't focus on something long enough to start reaping the rewards.

When I started my entrepreneurial journey, I had the same problem. I wanted to do:

- Kindle Publishing
- Affiliate Marketing
- Dropshipping
- Domain Flipping
- Blogging
- Amazon FBA etc.

I wanted to do them all.

I struggled to make any meaningful progress and, worse, I didn't know what I was doing wrong.

It wasn't until I heard the concept of Shiny Object Syndrome from a mentor that I realised I was spreading myself too thin and diluting my efforts. The power of focus is incredible.

Imagine the suns ray shining down on planet earth, not much damage is done because it's fairly spread out. However, Imagine using a mirror to focus part of the suns ray on a singular point (say on a piece of paper), sooner or later that paper will be set ablaze because of the sun's immense laser-like focus on it. The incredible energy being concentrated on that paper

In the same vein, my business took off when I cast aside every other business I was doing and decided to LASER FOCUS exclusively on publishing. I saw that publishing worked well for others and I decided they didn't have 2 heads. If it worked for them, It can also work for me.

..no more being Jack of all trade and master of none

It takes about 10,000 hours of doing something consistently in order to become a master at it.

I decided to be disciplined and not get distracted by any other make money online opportunity that looked tantalizing. Things changed for the better. I started paying more attention to detail and making improvements that allowed me to scale. I started setting monthly goals and aiming to beat prior month's goals.

I made my mind to become a master at non-fiction publishing.

A few years on (though am not a master yet), I'm happy with the progress made so far. It's been worth it

I encourage you to do the same. Choose one business opportunity you believe in and give it your absolute best..ignore the noise

HeliosHay:


If you're operating a PayPal account from Nigeria, you can send money to another PayPal account anywhere in the world BUT you can't withdraw funds from your PayPal account.

This means I can receive fund to my Nigeria PayPal?

Julivas:

This means I can receive fund to my Nigeria PayPal?

You can send payment but you can neither receive nor withdraw. Those two options are currently not available to those operating from Nigeria.

[url=https://www.paypal.com/cgi-bin/webscr?cmd=%5fdisplay%2dcountry%2dfunctionality%2doutside&dispatch=5885d80a13c0db1f8e263663d3faee8db8175432b4df92754f4b4adb5a123d61]This link[/url] tells you which PayPal option is available for each country

https://www.youtube.com/watch?v=Yj9pDRoBnVo

Sir
You have done well to yourself no doubt. However, my spirit went down a bit on publishing today. This was as a result of Amazon deducting 60% from Nigerian account. Even worst was ACX taking a whopping 60% of ones earning too.
For you to have made a 2mill on ACX then they have made about 5mill off you.
You become rich for them to be richer.

But

What if I register as a US citizen, will I be able to add a payoneer account? At least this will enable me to reduce Amazon 60% deduction to 30%.

deafeyez:
Sir
You have done well to yourself no doubt. However, my spirit went down a bit on publishing today. This was as a result of Amazon deducting 60% from Nigerian account. Even worst was ACX taking a whopping 60% of ones earning too.
For you to have made a 2mill on ACX then they have made about 5mill off you.
You become rich for them to be richer.

But

What if I register as a US citizen, will I be able to add a Payoneer account? At least this will enable me to reduce Amazon 60% deduction to 30%.

That's unusual. The most Amazon can deduct is a 30% withholding tax...unless the person did something dodgy, Amazon found out and had to take back a lot more of the money.

I pay 0% withholding tax because I live in the UK and they have a tax treaty with the USA.

If you are a US Citizen, you won't need to pay 30% withholding tax but you'll still pay some sort of income tax to the IRA

I advise you email KDP support and request a reason for deducting 60% from your earnings

HeliosHay:


That's unusual. The most Amazon can deduct is a 30% withholding tax...unless the person did something dodgy, Amazon found out and had to take back a lot more of the money.

I pay 0% withholding tax because I live in the UK and they have a tax treaty with the USA.

If you are a US Citizen, you won't need to pay 30% withholding tax but you'll still pay some sort of income tax to the IRA

I advise you email KDP support and request a reason for deducting 60% from your earnings

What I meant was that one have to pay amazon ,30% commission and another for withholding tax.

deafeyez:


What I meant was that one have to pay amazon ,30% commission and another for withholding tax.

Amazon doesn't take any such commission.

Each time your book is sold, you earn a certain percentage in royalty. This royalty amount is accumulated and at the end of the month, if for e.g you made $100 for the month, Amazon will then deduct $30 and send you the remaining $70. It's as simple as that

Of course you may pay commission to withdraw that fund from Payoneer to your local bank account...that's just the cost of doing business.

When my money is converted from dollar to pounds I lose a small percentage in FX commission...there's nothing I can do about it.

HeliosHay:


Amazon doesn't take any such commission.

Each time your book is sold, you earn a certain percentage in royalty. This royalty amount is accumulated and at the end of the month,

if for e.g you made $100 for the month, Amazon will then deduct $30 and send you the remaining $70. It's as simple as that

Of course you may pay commission to withdraw that fund from Payoneer to your local bank account...that's just the cost of doing business.

When my money is converted from dollar to pounds I lose a small percentage in FX commission...there's nothing I can do about it.

If amazon takes $30 of $100 then they have taken 30% because they are going to take $2550 if one earns $8500 at the end of the month. Then they will also deduct 30% for tax which make it 60%.

deafeyez:


If amazon takes $30 of $100 then they have taken 30% because they are going to take $2550 if one earns $8500 at the end of the month. Then they will also deduct 30% for tax which make it 60%.

In the example I gave, the $30 they deduct is for tax reasons.

Since Nigeria doesn't have a tax treaty with the US, they use that 30% withholding to compensate for it.

Of course, if you operate your business from Nigeria and you make $8500 in a month, that means they will take $2550. The blueprint shows you ways to legally reduce this tax but you'll still pay some sort of tax.

Even if they take $2550 from you, $5950 (N2.14 million) is still a lot of money to be made in a month in Nigeria. That's N24 million in a year. Not to mention the fact you're earning in dollars and spending in Naira..that's a lot of purchasing power

Furthermore, each book is like a rental property bringing in rent every month only this time you don't have to deal with

- Tenant telling you stories about your rent money
- Tenants taking you to court
- Tenants destroying your property etc.

At the end of the month, you get your money peacefully..no stress

You can remove 30% by adding any foreign address. Add payoneer account. Don't use USA.
Get foreign address for 5$
Reship.com

deafeyez:


If amazon takes $30 of $100 then they have taken 30% because they are going to take $2550 if one earns $8500 at the end of the month. Then they will also deduct 30% for tax which make it 60%.

eliok:
You can remove 30% by adding any foreign address. Add payoneer account. Don't use USA.
Get foreign address for 5$
Reship.com

What about Tax number of the country.
If I use USA, what is the disadvantage.

Use any other. No reasons for now. UK , and other address is available. Get TIN number from google.
Type
Country + tin number generator.

deafeyez:


What about Tax number of the country.
If I use USA, what is the disadvantage.