Amazon has announced that the Kindle Select Global Fund for August 2013 will be $1.1 million. The global fund continues to attract new indie authors with the temptation of sharing in the fund. The problem is that to qualify for a share of the money, you have to make your ebook free for Prime members to borrow, and you then earn your share of the fund based on how many times your ebook is borrowed.
According to Amazon: “When you choose to enroll your book in KDP Select, you're committing to make the digital format of that book available exclusively through KDP. During the period of exclusivity, you cannot distribute your book digitally anywhere else, including on your website, blogs, etc.”
If that doesn’t make you do a double-take, it should. You can’t even sell your own ebook on your own website if you are enrolled in KDP Select. And you have to pay them 30 percent of your sales for the pleasure of having it listed there. Is it possible to get more exposure by listing your book exclusively on Kindle? Absolutely! But the risk of relying on only one platform and one marketing model can be dangerous, and letting someone else have control of the terms of your ebook publishing removes the independence that comes from being an indie author.
While we’re obviously biased, we believe indie authors must safeguard their independent status by maintaining control over the wheres and hows of publishing. You can still sell your book on Amazon if you want, but if you refrain from enrolling in KDP Select, then you can also sell the ebook on your own website, where you keep the entire sales price for yourself, as well as on other platforms, thereby reaching a larger reading audience. EditionGuard can help you keep your books secure, manage your sales and
help you keep more money in your pocket from each sale. Learn more