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How To Make Money Self-Publishing Your Book

How To Make Money Self-Publishing Your Book

    One of the biggest undertakings for any writer, author, communicator, journalist, artist, or professional is publishing a book. Specifically, self-publishing is one interesting venture, but may not be a huge return on investment (ROI) for your efforts right away.

    Wikipedia defines “indie” literature as publishing a book “outside mainstream publishing.” Falling under this category of “indie” literature, self-publishing a book can be a great way to build your brand as a writer and can be an avenue with which to experiment. It will provide a self-starter with hands-on experience and an inside look into what the process is all about.

    Basic Facts About Self-Publishing

    The following are key facts about self-publishing for readers and authors:

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    • 30 percent of the top 100 books on Amazon are self-published and the number continues to grow.
    • Classics from Mark Twain, Charles Dickens, Virginia Woolf, and others were self-published works.
    • 21st century technology has made financially-viable digital printing, eBooks and online book retailing to its current form.
    • Self-publishing can give authors much greater earning potential than the traditional route on day one.
    • Self-published books never go out of print.
    • Self-publishing frees an author from writing what the publishing company tells them to write, and allows them to write about what they like and what makes them tick.

    Tips for Self-Publishing Success

    This infographic paints a picture on what should be considered the top keys with having self-publishing success:

      To recap here are some important takeaways from the visual graphic above:

      • Put your heart into it
      • Provide quality of content
      • Invest time, money and effort

      No matter the scale of success you are aiming for put all of you heart in the project. If you don’t feel passionate about your subject matter or at least put all of your heart and effort into your writing, your book will fall short.

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      If you dedicate the necessary amount of hours of writing, carefully investing your money and maximizing effort you will come away with a successful piece of literature.

      Effectively Promoting Your Book

      So, once you have found what to write about what do you think happens next? How do you promote it? Do you contact a publishing company? These are just one of the many question that have no specific or magical answer.

      If you opt to go with a self-publishing services you better have money saved up and invested. You will have to pay fees, and fork over a percentage towards printing your book. Services will typically provide editorial assessment, copy editing, proofreading or a combination all three. The price is ultimately calculated from the total number of words in your book.

      While it may seem like a done-for-you solution to hire a “self-publishing” company, the fees associated with it will eat into your profits on a continuous basis. You see, if you self-publish on your own, you don´t pay a cut to anybody and keep the earnings for yourself. However, you may not have the connections and resources that a self-publishing company will have. You will need to weigh the costs and benefits of either publishing on your own or working with a company in order to have the greatest chance of success. There are many places to look online to learn more, for example, Steuben Press is an online book printer and a valuable resource for self-publishers.

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      Once your book is written Steuben Press suggests these proven steps to promote your self-publishing work:

      1. Sell to those you know
      2. Encourage sharing
      3. Recruit influencers
      4. Create a buzz online
      5. Organize a launch party

      Word-of Mouth Promotion

      When you pitch your own work to people you know it will build word-of-mouth marketing and it is cheaper than paying for advertising (online, social, mobile, etc.). Furthermore, someone in your immediate circles might connect you to that person who has access to an audience via a podcast, YouTube channel or just any other medium out there among the masses.

      Social Media Promotion

      You can also provide the first digital copies in advance in exchange to have readers submit reviews on Amazon. Additionally, you can use social networks like Facebook, Twitter, Pinterest and LinkedIn to promote your book. Utilize the Facebook Live feature to talk about your work, host a Twitter chat to answer questions, post beautifully crafted images of the cover and memorable quotes or excerpts from the book on Pinterest, and publish multiple posts that provide insight about the process of writing this book.

      All of these efforts will help connect you with potential influencers, and at the same time create some buzz online. The more times you share content related to your work on the web while others simultaneously talk about on their existing networks, it will become increasingly visible to others. The process does not happen overnight.

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      Launch Party Promotion

      Finally, host a launch party. Do this within the confines of your budget and resources. Once you have compiled all the data, the number of people actively involved in the process and demand for copies will allow you to foresee just how large the gathering should be.

      The goal of a launch party is not only to be a catalyst for spreading your book via word of mouth and social shares, it also serves to facilitate another vital component of a book launch – book reviews. Each member of the launch team should be incentivized to write a review on Amazon. You see, Amazon’s algorithm that determines product listing rank, and relies heavily on the number of reviews and the velocity of reviews. The term ‘velocity’ means the algorithm picks up on if many reviews all come in at once and interprets these signals as popularity. In turn, more visibility results in the book listings.

      Takeaways and conclusions

      Now that you understand the nuts and bolts of what it means to self-publish, the sky is the limit. You do however have to understand that there is a fierce competition from a pool of talented writers out there, but it is possible to successfully self-publish and self-promote your book.

      Featured photo credit: StockSnap/Pixabay via pixabay.com

      More by this author

      Anthony Carranza

      Educator, contributing writer and experienced journalist.

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      Last Updated on October 16, 2018

      How to Quit Your Job That You Hate and Start Doing What You Love

      How to Quit Your Job That You Hate and Start Doing What You Love

      Everyone of us has a plan in our head that was taken over by family responsibilities, social pressure or sheep mentality. This made us a slave to instant gratification and started killing our plan and dreams.

      There is a way to revive your plans and dreams and live a happier life. No amount of salary can exceed your desire to do something that you are really passionate about.

      If you hate your job and have thought about leaving your job, here’s how to quit your job and start doing what you love:

      1. Identify if you really want to quit to follow your passion

      There could be many possible reasons to figure out why you are discouraged to go to work and start thinking about how to quitting your job. Figure out the reasons or signs that make you feel that you should really quit your job.

      If these reasons are not related to your office environment or your ultimate goal is to pay your bills from your job, you should consider getting a new job in the same field. It’s better to be an experienced receptionist than to live a dream that is not yours.

      2. Start with the side hustle and keep it going

      Work after you get back home and build up your product or service enough to gain confidence to quit your job.

      Build the website, write down the business plan, design your product, make marketing collaterals or do whatever it takes for you to start working full time on your new venture before quitting your current job.

      You could also consider part-time working opportunities if your current job sucks a lot of your energy. This way you could save your energy and dedicate more time to your side hustle.

      Ensure that you don’t quit until your new venture really demands your full time dedication. You might lose interest in your new venture if you fall short of survival money.

      3. Save enough to pay your bills

      If you need to pursue your passion, you need your monthly bills to be taken care of, without any worries. You must cut down on unnecessary expenses and squeeze in those extra bucks on your savings while you are at your current job. You should forget those weekend parties and social outings unless they’re meant for networking.

      It makes no sense to quit your job without having any savings. Your new venture will not start paying you immediately. Starting a recurring deposit account is a good idea to start off with. Put aside a considerable amount every month as soon as you get your paycheque and forget about that money until you quit your job.

      4. Write down your goals

      It is important to have visual proof and a daily reminder of why you quit your job and started a new hustle.

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      Write down your goals and read them at least once a week. If you are a forgetful person, create cell phone or desktop wallpapers of your goals and set them until you achieve them. Visual proof keeps you on track.

      These goals are the bigger picture of what you wish to achieve in your pursuit to doing what you love.

      For example, if you are wish to design the best dresses in the whole state, write it down. If you wish to fly to Mars, write it down. If you really wish to give up your career for something, it better be worth remembering everyday. Show it to yourself daily.

      5. Make a plan

      Write down a plan of action for the next 12 months. It’s like writing down an elaborate execution plan in your calendar. This could be a daily, weekly or monthly to-do list of your tasks to achieve your goals.

      Learn how to make a plan if that’s not your area of expertise. Ensure that you know what you’re going to do next and not run like a headless chicken after two months of working for yourself.

      Review the plan time and again to track your progress. This will give you a clear picture of your performance and your shortcomings.

      Also, have a backup plan. Even great planners and strategists fail before achieving success. Ensure that you have a second plan if your first one does not work out as you predicted.

      6. Get professional advice

      Talk to experienced people in the field you want to venture out. Go to networking events and connect with people in your industry. Most people will help you out with good advice and good contacts.

      Get professional courses in part time colleges. It could be great to network and the teachers can be of great help to understand more about the industry. They will help you analyse your plan and connect you to influential people.

      7. Prepare yourself to put a resignation

      Prepare yourself mentally to quit your job after you’ve realized the potential and prepared yourself to take a deep dive into your new profession.

      Leave on a friendly note. Don’t make enemies with your bosses. These connections could help you further in your profession.

      Don’t burn the bridges. It’s better to have a face-to-face conversation with your boss or reporting manager than sending a surprise mail.

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      Tell them sincerely about your new venture and why it is important for you. Serve the notice period completely and work till the last day. Complete all your tasks as you would on a regular day. This will maintain your respect and keep your relationships intact.

      8. Be prepared to get your hands dirty

      As an entrepreneur, you have to do everything that’s needed to keep your work going.

      You have to perform all the tasks needed to keep your new venture going. You have to be a janitor, an administrator, an accountant, a designer or a salesperson all at once.

      There would be a point of time where you will have to perform tasks that aren’t your favourite. Be ready to perform such tasks without cringing.

      9. Have no baggage

      Don’t have a debt! Clear all your loans, debts and pending commitments before starting off. You want to fully concentrate on your new activity and not be bent down by loading your shoulders with any burden.

      You would want to enjoy your freedom to work incessantly. No distractions whatsoever are allowed to come close to you when you are fully involved in the rhythm of development. Shun away materialism!

      10. Don’t be in two minds

      It’s good to analyze the best and the worst possibilities in your head, but it’s not at all good to doubt yourself.

      Move ahead with confidence. It’s your life, your plan and your rules. Nothing and nobody can stop you from doing what you wish to do.

      The more you start getting noticed, the more people will point fingers at you. Don’t let them affect you and create doubts in your head. As William Shakespeare said,

      “Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt.”

      11. Learn to handle failure

      You are going to be a loser and it’s a good thing! If you fail and lose, you will learn to not repeat your mistakes and make yourself stronger with every punch you throw out.

      It takes time till you start losing. The key is to not be demotivated by failure. The more the failure, the more closer you are to success.

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      12. Try your hands at investing in stock market or cryptocurrency

      It’s a good way to keep your side income rolling in. While you are busy building your dream project, you could invest your money in the stock market or cryptocurrency and let it grow while you sleep.

      As Warren Buffet famously quoted,

      “If you don’t find a way to make money while you sleep, you will work until you die.”

      Find a good stock broker who has enough experience to not lose your money. Stop immediately if you are losing a lot of money. Don’t burn away your money.

      13. Keep a healthy routine

      It’s easy to forget about your health when you are working on something that you’re really passionate about. Set reminders about your health routine.

      Exercise! Most successful people start their day early and take time out to exercise at least thrice a week. It helps you give more energy and time to your work.

      Always remember that you started your new venture to be happier. Bad health will not let you enjoy your success.

      Join yoga classes or learn meditation from youtube. Avoid sitting too long at one place for more than 15 minutes at a stretch, take breaks. take a walk, especially up-down the staircase as much as you can to skip age related joint pains and muscle atrophies.[1]

      14. Enjoy your days off

      Taking a break helps your creativity and clears your mind from clutter. You need your days off to come back afresh and take on your tasks. You can’t be working 24/7.

      Remember that being able to take your days off is one of the beneficial quirks of an entrepreneurial journey. You can have a routine designed by yourself, for yourself.

      Take your days off when you are too stressed and can’t think straight. Self-discipline might sound simple but practice takes ages. Schedule down time for yourself.

      15. Take these steps to quit your job without burning bridges

      Resume.io has this infographic about the steps you should take after you’ve decided to quit your job:[2]

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        16. Remember why you quit your job

        Lastly, remember why you quit your job and started doing what you love. There would be bad days that will make you regret your decision, but don’t let them dominate the reason why you took the plunge.

        Your soul wasn’t happy with what you were doing. Your new venture is what you always wanted to do.

        Never forget that.

        If nothing works out, you could still go back to any job you want, but at least, you’d be spared from regrets and constantly arriving “What if?” question in your head.

        So, start now and live without any regrets.

        Execution matters more than thought. Turn your dream into a reality starting today. Start small and grow big.

        Besides, it’s never too late to do what you want to do. Here’s the proof:

        How to Start Over and Reboot Your Life When It Seems Too Late

        Featured photo credit: Pexels via pexels.com

        Reference

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