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06/27/2011 • 1:51 AM 1

The “But At What Cost?” Miscalculation

John Locke has written a book: How I Sold 1 Million Ebooks in Five Months.* (I recommend it)

LA Times writer Carolyn Kellogg wrote a piece that asks, “At What Cost?” Here’s that nonsense argument and my bit of nonsense follows.

The upshot is, Ms. Kellogg thinks Mr. Locke undersold himself. He sold a million ebooks, but charged 0.99 for many of them. She says he could have made a million of with higher pricing instead of making do in the $300,000 range. (A figure that would make many authors swoon.) There are many interesting observations in the comments section of the LA Times article that pick apart Ms. Kellogg’s worries very well.

Here’s my take away: I had never heard of John Locke until now. He used 0.99 loss leaders to sell a shit-ton of books. Yes, he “only” made 0.30 on the 0.99 ebooks, but low or no pricing allowed wary readers to try him out. And now many more people know about him. And I bought his non-fiction ebook which details his success so far. And I bought it for $4.99.

Kellogg is saying Locke was an idiot for leaving money on the table, assuming he could have moved so much and so quickly with a middle man trad publisher involved. Why would she assume that, I wonder? There’s no basis for it. The new world is not the old world and hers is classic old world thinking.

Now you know, if you didn’t, who John Locke is. And now you’re thinking, maybe I should buy one of his books and give it a try. Maybe more than one, huh?

*Thanks to Joanna Penn for her post on Mr. Locke. I love Joanna’s blog and podcast, The Creative Penn. Subscribe if you haven’t!