IS K MONEY MASTERY A SCAM? IS THIS PROGRAM WORTH BUYING?
Check out my in depth K money mastery review and see what you think.
K Money Mastery, (Or Kindle Money Mastery) is a course designed by super blogger, author, coach, internet marketer and entrepreneur Stefan Pylarinos.
Writing this review, I want to consider whether selling self-published books on kindle is still a profitable venture and is it still worth purchasing the K money mastery program today – several years after it was first released.
Stefan wears his heart on his sleeve, he’s a genuine guy and I admire his story and determination – but does this product match up to the man?
Product: K Money Mastery
Product Owner: Stefan Pylarinos
Price: Currently $67 ($7 downsell for first week at time of writing)
Upsell: Full disclosure membership $67 monthly
My Rating: 85/100
WHAT IS K MONEY MASTERY ABOUT?
K money mastery is a course designed how to teach you, step-by-step how to create, outsource content for and make money from selling kindle books on Amazon.
First of all, there is no doubt that Stefan has made a great deal of money on the Kindle platform.
However, Amazon has evolved over time and the game is regularly changing.
Since Stefan first started selling books, the landscape has dramatically changed.
Yes, Stefan has updated the program and continues to do so, but it’s certainly not as simple as it was to start selling books on kindle.
The competition has increased dramatically and kindle has cracked down on people trying to cheat the system – so, you need to have your head on your shoulders.
If you put out badly written drivel, you’re going to get bad reviews.
Too many bad reviews and your books will sink into an oblivion.
Even if you don’t have bad reviews, you need a good strategy to keep generating sales, you can’t just sit back and hope people are going to buy your books.
If you’re hoping to learn how to write your own kindle book, this isn’t that sort of course.
THIS IS NOT ABOUT GETTING RICH FROM PUBLISHING ONE BOOK, THIS IS MORE OF A NUMBERS GAME.
You put a lot of books out there making a little bit each month and that amount adds up the more you have – you may also get lucky and get some that make you a very decent amount each month.
Stefan targets non-fiction books primarily, but has expanded the course to include some information about people who want to target fiction too.
You can certainly apply Stefan’s method to writing fiction, or children’s books but the process is slightly different.
Stefan has a video going over how to search for a niche in the fiction market.
It is suggested that, if you’re outsourcing, you will probably have to pay more to find a quality writer if you’re focusing on fiction.
That said, the market is huge and there are plenty of opportunities.
HOW YOU CAN PROFIT FROM KINDLE PUBLISHING…
- You find a profitable niche in kindle
- You look for low competition keywords you have a better chance of ranking for, (but ones which are still profitable)
- You come up with your title
- You outsource, (or write) the content
- You outsource cover design
- You use various methods to get reviews for your book
- You start over again with a new book!
The aim is, to build up your catalogue of books and gradually your profit.
HOW DO YOU LEARN?
You learn via video tutorials, you also have a PDF file accompanying each lesson, that it is also suggested you read.
There are 21 key lessons, but within each lesson there are often more than one video.
THE MAIN TOPICS COVERED ARE AS FOLLOWS AND ARE VERY EXTENSIVE…
- Finding a profitable niche
- Keyword research
- Choosing a title that sells
- Kindle book creation
- Preparing your book for publishing
- Creating a KDP account
- Viewing your kindle book
- Getting amazon reviews
- Marketing your book on KDP select
- Using twitter and facebook to promote your book
- Additional book promotion strategies
- Boosting your amazon keyword rankings
- Setting up your amazon author central account
- Monetizing your kindle book
- Creating a series of books and monetizing the back end
- Dealing with negative reviews
- Scaling up your kindle books and making more money
- How to make your books profitable long term
- How to track, manage and optimize your kindle books
There are also useful bonuses, such as how to create a corporation for your business, accounting basics and tax requirements for non-us residents.
He also has a decent list of helpful resources and programs that can be useful.
ALSO INCLUDED – ARE SOME USEFUL DOWNLOADS:
- ghost writer agreements
- useful list of places to submit your kindle book during your free promotion, (a great opportunity to get lots of downloads and reviews for your book).
WHAT DOES IT COST?
K-money mastery costs $67, (downsell option, $7 trial for one week).
For the $7 trial it’s definitely worth checking out, although the overall price excellent value for money.
The key upsell for the course is – the Full Disclosure membership, $67 a month.
SO, WHAT IS FULL DISCLOSURE MEMBERSHIP?
Well, full disclosure gives you access to a large library of extra advanced training, which is regularly added to.
You’re taught extra methods to advance your business, such as how to publish a physical book in create space, publishing on other platforms, marketing tactics and much more.
Plus you have access to a private mastermind facebook group, where you can get review exchanges and ask for help.
I think full disclosure sounds awesome and in my opinion and will include plenty of helpful advice that you’re likely going to need to become successful on kindle now, (it’s also added to regularly).
If you are really serious about kindle publishing, it’s an option to consider – and you can always join full disclosure at a later time.
BOOK SIZE AND CREATION
Stefan suggests outsourcing a small book to begin with, around, 5000 words, (20-30 pages) This is incredibly short.
While this may be ok for certain topics, looking at reviews online it seems a lot of people do complain about the length of books like this.
Yes maybe it’s possible to make a reasonable book of this length on certain topics…
but too many people going through kindle courses end up putting out complete trash hoping to make a quick buck.
Once the true reviews from real buyers start coming through, 1 star reviews will star piling in if your book isn’t up to scratch.
Even reasonable books will likely get bad reviews somewhere along the way however, so you have to prepare yourself for that reality.
You need to find ways that you could overcome the negative reviews, (improving on your book for example, which is something Stefan suggests too).
Stefan warns that your books need to be of high quality, but how likely is this when you’re starting off outsourcing with a low budget?
He suggests first spending around $100 on your first book, finding a great writer with a super low budget like this could be a challenge.
If you do decide to go ahead and write your own books though, there is still an abundance of information on K-money mastery that you will find useful and beneficial.
Support is limited to filling out a contact form, or searching to answers for common questions.
Even though Stefan’s videos are very straight forward and step-by-step – I did occasionally still find myself having questions.
If you’re going for the regular membership, then this is where the course falls short.
There isn’t a community that you can go and call on for help. This is where being a full-disclosure membership certainly has its benefits.
If you’re a full disclosure member, any questions you have could easily be answered in their private facebook group.
Additionally, there are lots of extra advanced videos available to full-disclosure members that are updated regularly.
If you join the course and decide publishing on kindle is definitely something you want to do, I would think joining full-disclosure even as a temporary measure.
There you can take advantage of review exchanges, the additional advanced videos available and the support from the facebook group.
But you may discover the benefits of being a member quickly outweigh the cost, especially if you start making a decent profit from your books.
K MONEY MASTERY: KEY THINGS TO REMEMBER!
- Kindle is ever changing. You can’t just put out rubbish books and hope to make money. You need to have decent books that provide value.
- There is an ever growing rate of competition. Therefore untapped profitable niches, (particularly in non-fiction) will be very difficult to find.
- You really need to do research within your niche and weigh up your chances at selling well – can you compete with the top competitors in your niche?
- If you get a huge bunch of bad reviews, all your efforts will be wasted. Gaining reviews for your book is of extreme importance.
- Stefan covers how to gain reviews in K-money mastery and following his advice here is important.
CHECKING OUT THE KINDLE COMPETITION WITH KINDLE SPY…
I use a great tool called Kindle Spy to have a peek at some potential self-published books.
Kindle spy is an excellent tool for finding profitable niches and makes the whole process so much easier.
You can spy on how much authors have made in the last 30 days, which can really help you decide not only what topics to target.
The tool also has lots of other helpful features.
It’s quite easy to spot books created by those who have gone through a program like k-money mastery.
To seek out authors that you’re going to be competing with, do the following, (make sure you’re on kindle store)
- look for books with several keywords in the title
- look for book length between 20-30 pages
- look at the at the number of reviews and the price – you want to find books that you can compete with yourself.
So, using kindle spy, one of the first books I found, (see image below) was in the depression niche.
It was released in Dec 2015, 29 pages, 21 reviews all 4 ad 5 stars, selling at the moment for $2.97. In the last 30 days this book has made $149 – see via the image below…
No, this kind of income going to pay the bills but simply creating one book is not the aim here, your aim is to create lots of books – some may make nothing, others will make more.
To delve further however, I did go and visit many author profiles in non fiction – some may have 20 or more books and make under $50 in total for their books – or less!
AN EXAMPLE OF SOME OF THE AUTHOR PROFILES I CHECKED OUT…
- 30 books – $0 for last 30 days
- 20 books $100 last 30 days
- 28 books $80 last 30 days
- 10 books $25 last 30 days
- 7 books $85 in the last 30 days
- 5 books $11 in 30 days total…. and it continued on and on like this until…..
- 12 books $1390 in 30 days
HMM… SEE THE ONE THAT STICKS OUT RIGHT THERE?
This was an unusual occurrence, but sometimes it would seem that similar sorts of books, would suddenly be selling loads more than others.
One very good reason… these authors have a platform!
People self publishing lots of non-fiction books on kindle AND making decent money, will usually have a website or blog that they will be both driving traffic too and also from.
So, they’ll have a dedicated following who will already be keen to buy their books before they’ve even started.
There was another group, who didn’t have a blog, but would have a specialbonus ebook or a couple of books for free advertised in the front pages of their book.
So, if you clicked he link for the freebie inside the book, you’d be directed to a squeeze page where you’d enter your email address. Your email is now on their list and they can sell other books to you in future.
TO HAVE THE BEST CHANCE OF SUCCESS, YOU NEED TO HAVE YOUR MARKETING HAT ON.
Having a freebie is a good idea, having a website to direct people to is a good idea.
You need to try and provide as much value as you can and make your books stand out from the rest.
WHO IS MAKING A KILLING ON KINDLE?
There are examples of bloggers currently making a fortune from kindle.
You may well have heard of Steve Scott – who is said to make something $30k a month selling books on kindle presently, (at the time of writing).
The kindle spy program backs this claim, suggesting Steve made around 27k in the last 30 days – see image below:
Steve’s books are longer, at generally between 100 and 170 pages and he does write them himself.
He’s been pretty vocal about the flood of mini crappy books into kindle and I’ve seen him talk about it a lot.
Stefan certainly has created a whole movement of people writing kindle books, who are not focusing on quality and that has upset a lot of people.
However, of course not all books put out there are poor quality and Amazon has really been working on punishing those who are gaming the system – so making sure you’re putting out the best books you can, will benefit you in the long run.
SO, SOMETHING TO TAKE FROM THIS INFO IS:
- Build up a platform via a website or blog in a niche you’re passionate about
- Write, (or outsource) quality ebooks that you can sell to both your present audience and generate a new source of traffic via amazon, directing your new readers to your website.
- As an extra idea, have a bonus or freebie offer so that you can capture email addresses for future book promotions.
I know Stefan will go into more detail about monetising the back end of your kindle books in full disclosure.
IF YOU DO HAVE A POPULAR WEBSITE OR BLOG, KINDLE CAN REALLY HELP YOU EXPAND YOUR BUSINESS.
Writing about something within your niche means you can generate a whole new audience of people who are looking for relevant books on kindle.
You can also drive sales to your book from people who already visit your website and who are on your email list.
WHAT ABOUT FICTION?
Looking at various Fiction authors, there was a difference- I didn’t have to look far to find self-published authors selling huge amounts of books in the fiction area.
I haven’t read the stuff, so I don’t know how good or bad it is, but there is certainly a load of it selling – romance and erotica is particularly hot.
It’s said it’s harder to crack fiction, you need to get a following and writing series seems to be the way to go…
I have heard of many authors outsourcing fiction writers too, as well as those who write themselves.
SO, WHAT SHOULD YOU DO?
Experimenting with kindle comes at a very low cost, either you write the books yourself and thereby your cost is simply your time, (minus paying for your cover which is affordable)…
or you can attempt to outsource for a fairly reasonable price, (you’d need to do look carefully for a decent writer).
Stefan recommends “write articles for me” but I have personally had quite bad experiences with them, (so far).
I prefer working with Upwork where you can post a job and normally get a large number of applications that you can go through yourself and you can also engage with your writer and build up a proper working relationship.
In any case, even if you do not have a platform, if you want to put a decent book out there, outsourced or otherwise, your best chance of success is:
- to produce a book that is excellent quality and promote the hell out of it!
- then, ideally have a freebie offer as an extra perk for your readers!
Follow all the techniques Stefan suggests in his course as far as promoting your book, get as many reviews as you can – then your book will have the greatest chance of success.
Most people do not get as far as publishing a book in the first place.
The feeling of actually putting something out there for people to buy is pretty exciting —so, make it something that you’re proud of.
A LOOK INSIDE K MONEY MASTERY….
K MONEY MASTERY REVIEW CONCLUSION: IS K MONEY MASTERY A SCAM?
I’m sure you know where I stand on this now after getting this far into my review…(really, thank you for sticking this one out, I know I had a lot to say!).
K money mastery is not a scam, it’s a worthwhile program to invest in and provides value for money – if you have any interest in self-publishing.
I bought this program personally and while I don’t intend to go down the route that Stefan suggests as far as outsourcing, there is still tonnes of valuable information in this course.
The $7 price for the first week is plenty of time to figure out if you want to join, plus there is a 60 day money back guarantee.
Once you’ve paid, you’re a member for life. Whenever K money mastery is updated, you will be included in on those updates.
Members of K-money mastery 1:0, are also members of K money mastery 2:0.
I feel joining full disclosure too, even if only temporarily, could be very beneficial. As you can gain insight and advice from people already successful in Kindle publishing
There are no ties to full disclosure, so you can always leave at any time.
PSSST…. SOMETHING ELSE YOU MAY BE INTERESTED IN!
If you’re interested on building a platform in order to monetize the back end of your kindle books, check out my#1 recommended program, wealthy affiliate.
There you’re taught how to build a website in any niche that you choose, then how to generate an income via affiliate marketing.
Everything is taught from scratch, so it’s great for beginners.
Are you a kindle author making a killing on kindle? Or have you suffered from dwindling sales?
I’d love to hear from you & hear your stories! Leave me a comment below!