Advertising
Advertising

4 Things I Wish I Knew Before Self-Publishing a Book

4 Things I Wish I Knew Before Self-Publishing a Book

“Dude, you should totally write a book!”

Maybe you’ve heard that before or it’s just something you’ve always wanted to do. But writing is only part of what it takes to get a book in the hands of eager readers.

Self-publishing is all the rage these days but there’s still a lot to learn for a first time author.

As I write this article, my book has officially been released for five months. Sales are steady but I’m ready to get back to writing.

Get back to writing? Didn’t I just “write” a book?

Yes, but the majority of my last six months has been spent getting the book ready for sale.

Advertising

So before you start down the self-publishing road, here are a few things to take into consideration.

1. Once You Finish Writing, Expect More Work

I finished writing my book in December of 2011; the book was officially available on Amazon the first week in June 2012. I used CreateSpace for editing, internal design, and publishing. I used my sister for cover design.

I could have cut down on time if I’d simplified my internal design and cover—or just used CreateSpace for the cover design as well. But it was my first baby and I wanted the cover to be awesome and knew my sister would do a great job (which she did!). So I was happy to wait while she designed my cover between a full-time job and single motherhood.

The copy editing process with CreateSpace was fairly easy. Once submitted, it only took a few weeks to get my first manuscript back with tracked changes. After that, I made changes and used family and friends to proof read. Depending on your manuscript length, (mine was around 32K words,) this takes time.

One thing I would have done differently is be more diligent about format checking the Word document before submitting the final manuscript for proof printing. Things like two En dashes (- -) instead of one Em dash (—) which looked fine in the manuscript due to the font I used showed up all over the place in the printed proof. Of course this is what proofing is for, but with CreateSpace you only get so many corrections for free so you might end up having to prioritize what changes are made or pay extra.

Advertising

2. The Headaches of Paperback

Every aspiring author wants to see his or her name in print. I can attest to the fact that it’s a pretty cool feeling. There’s nothing like holding your book in your hands for the first time. However, when it came time to market and set pricing, the print version added some extra headache to pricing options.

Let me explain…

My main sales strategy was to consist of online sales through my website. The goal is to set pricing in a way that encourages people to purchase an eBook bundle—PDF, .mobi, and .epub—via my website since Amazon.com takes 40% of the print books list price. Yeah, you read that correctly, 40%. But they also have the ability to reach millions of potential readers.

I can way overanalyze things and probably spent unnecessary time worrying about how to price these different formats (Kindle, Print, PDF, etc.) to maximize profits and reach. Two goals which seem to conflict with each other; future testing will reveal some insights no doubt.

At this point, I still have a lot of testing to do as far as pricing, but it would have been a lot simpler to offer only a Kindle and/or eBook bundle. Nonetheless, I’m not sure I would have done it any differently for my first book. It’s just something to think about.

Advertising

3. Blurb Requests

When it came time to request blurbs, I wanted to send out a copy of my manuscript that had been through at least one round of copy editing to avoid most grammar or spelling errors. This was pretty late in the game and thus added time waiting (and praying) for responses.

Everyone wants’ the best blurbs for their book, but requesting them takes a special knack that I’m not quite sure I navigated correctly. I did get some awesome blurbs, but it’s hard to know if I did it the right way. I just tried to think of how I would prefer to be approached, and what would make it easier for me?

Some suggest sending an “example” blurb in your request so all they have to do is tweak it a little and add their name to it. This seemed awful presumptions to me, but I did have better luck once I started using this approach.

Next time I’ll spend more time revising my rough draft and start sending it out a lot sooner.

4. Trailer video

Advertising

Being in the non-fiction (self-help) niche, I’ve seen other authors use interview styled trailers with success so I decided to have one created for my first book.

Although there’s no way to tell how much impact my trailer has had on sales at this point, I’m not sure I would do it again. It added additional time and money to the project, so the jury is still out on its effectiveness. At some point, I’ll A/B test the sales page to see how it affects conversions.

Another use for the trailer will be to promote on YouTube and other video sites. I purchased a handful of easy-to-remember domain names around topic keywords that redirect to my sales page with logic to track where the sales originated. This will allow me to track traffic from assets like free eBooks, newsletters, podcast, etc. to know what’s working.

Distribution is another area for consideration. For example, do you use Amazon only or do you use a service such as Smashwords.com to distribute the eBook version to multiple sites?

Yeah… there’s a lot to think about and it can get overwhelming at times.

So even though I’ll approach my next self-published project a little differently, I learned valuable lessons. If there’s one piece of advice I could give to anyone considering self-publishing, it would be determine what your budget is and bootstrap the things you can’t afford. But most importantly, kick procrastination to the curb and just do it!

Featured photo credit:  book of fantasy stories via Shutterstock

More by this author

4 Things I Wish I Knew Before Self-Publishing a Book

Trending in Money

1 How Personal Finance Software Helps You Get More Out of Your Money 2 The Best Ways to Save Money Even Impulsive Spenders Can Get Behind 3 How to Answer the Tough Question: What are Your Salary Requirements? 4 The Definitive Guide to Get Out of Debt Fast (And Forever) 5 35 Real Ways to Actually Make Money Online

Read Next

Advertising
Advertising
Advertising

Last Updated on January 2, 2019

How Personal Finance Software Helps You Get More Out of Your Money

How Personal Finance Software Helps You Get More Out of Your Money

Do you know what mental health experts point to as the biggest cause of stress in the United States today? If you said “money,” then ding, ding, we have a winner!

Three out of four adults today report feeling stressed out about money at least part of the time. People are either worried about not having enough money or whether they’re putting the money they do have to use in the best possible way.

Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.

This guide will help you to understand how personal finance software can better assist with both accomplishing long term financial goals and managing day-to-day aspects of life.

Whether it’s tracking the savings plan for your child’s college fund or making sure you won’t be in the red with the month’s grocery budget, personal finance software keeps all this information in one convenient place.

What Exactly is Personal Finance Software?

Think of it like the dashboard in your car. You have a speedometer to tell you how fast you’re going, an odometer to tell you how far you’ve traveled, and then other gauges to tell you things like how much gas is in the tank and your engine temperature. Personal finance software is essentially the same thing for your money.

When you install this software on your computer, tablet, or smartphone, it helps to track your money — how much is going in, how much is going out, and its growth. Most personal finance software programs will display your budget, spending, investments, bills, savings accounts, and even retirement plans, levels of debt, and credit score.

Advertising

How It Leads to Financial Improvement

It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.

Some types of personal finance software can help make things a little less complicated, setting you up to meet financial goals and taking away some of the stress associated with money.

Even if you already have a Certified Financial Planner (CFP) some type of personal finance software can be of great benefit. Whereas CFPs focus on the big picture of your money, they don’t handle the day-to-day aspects that determine your overall financial health.

It’s also not nearly as complicated as you might think and can take out a lot of the tedium that comes with doing everything on an Excel spreadsheet or with a pad and pencil.

Types of Personal Finance Software

When it comes to personal finance software, it generally fits into two categories: tax preparation and money management.

Tax preparation software such as Turbo Tax and H&R Block’s software can help with everything from filing income taxes to IRS rules and regulations and even estate plans. Plus, there’s the benefit of filing online and getting your refund check a lot faster than if you were to mail off your forms after waiting in line at the post office.

For the purpose of this article, however, will be focusing more on the personal finance software that aids with money management.

Advertising

Money management personal finance software will help you to see the health of your cash flow, pay down debt, forecast for expenses and savings, track investments, pay bills, and do a host of other things that 30 years ago would have practically required a team of accountants.

When to Use Personal Finance Software

So far we’ve gone over what exactly personal finance software is and how it can be a benefit to your money. The next logical step in this whole equation is determining when it should be used and how is the best way to go about getting started using it.

Below are four of the most common and practical ways to use personal finance software. If all or any of these apply to you and your money, then downloading some type of personal finance software is going to be a smart move.

1. You Have Multiple Accounts

There’s a good chance that when it comes to your money, it’s in more than one place. Sure, you probably have a checking account, but you may also have a savings account, money market account, and retirement accounts such as an IRA or 401k.

If you’re like the average American, you probably have two to three credit cards as well. Fifty percent of Americans also don’t have loyalty to just one bank and spread their money across multiple banks.

Rather than spending hours typing in every detail of every account you have into a spreadsheet, many programs allow you to easily import your account information. This will help to eliminate any mistakes and give you a bird’s eye view of everything at once.

2. You Want to Automate Some or All of Your Payments

Please don’t say that you’re still writing out paper checks and dropping each bill in the mailbox. While it’s noble that you’re doing your part to keep postal workers employed, we’re 18 years into the 21st century and you can literally pay every bill online now.

Advertising

There’s no need to log into every account you have and type in your routing number either.

With personal finance software you can schedule automatic payments and transfers between all of your imported accounts. Automatic transfers will help to make sure you have the necessary funds in the right account to ensure all bills are paid on the appropriate date. Late fees are annoying and do nothing but cost you money. It’s time that you said goodbye to them once and for all.

3. You Need to Streamline Your Budget

Perhaps the best feature of personal finance software is that it allows you track everything going in and out of your virtual wallet.

Nearly every brand of personal finance software out there has easy-to-read graphs and charts that allow you track every cent you spend or earn, should you choose. You might be pretty amazed when you see just how much you spent on eating out last month or if you splurged a little more than you should have on Christmas gifts last year.

Every successful business on the planet has a budget and using personal finance software can help you trim the fat on your spending in ways that affect your everyday life.

4. You Have Specific Goals to Meet

Maybe it’s paying off debt or saving for up something like a European vacation. Whatever your financial goal is, whether it’s long-term or short-term, personal finance software programs are one of the savviest ways to go about reaching those goals.

You can do everything from set spending alerts to notify you when you’re over budget to automating what percentage of your paycheck goes to things like retirement investments. The personal finance software that you choose should show you exactly how close you are to hitting those goals at any given time.

Advertising

How to Get Started

From AceMoney to Mint and Quicken, there ’s no shortage of personal finance software apps out there. Many of these programs are free to download and will allow you to pay bills, invest, monitor your net worth and credit profile, and even get a loan with the swipe of a finger.

Other programs may only offer you limited services and will require a one-time fee or subscription to unlock all that they offer. These fees can often vary from as little as two dollars to 50 bucks a month.

It’s best to start off with the free version and then gauge whether you’re able to accomplish everything you’d like or if it’s worth exploring one of the paid options. Often times the subscription programs come with assistance from financial planning and investment experts — so that can be a real benefit.

When deciding which personal finance software program to use, it’s also important to look at how many accounts you wish to monitor. Certain programs limit the number of accounts you can add. Be sure that if you have checking, credit card, and investment accounts to monitor, that you choose a service that can monitor them all.

Finally, when looking around for the right personal finance software that meets your needs, make sure that you’re comfortable with the program’s interface. It shouldn’t be expected that you recognize every single feature instantly, but if the features don’t seem readable and manageable to you, then you’re not as likely to use it and get the full benefits.

Final Thoughts

Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.

In this day and age, managing one’s personal finances in a secure manner that allows the user to have a real-time visual representation of their money is easier than ever before. With the numerous applications that are out there — both free and subscription-based — there’s no reason that every person can’t take control of their money and ensure they’re making smart money moves.

Featured photo credit: rawpixel via unsplash.com

Read Next