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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.

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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.

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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.

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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

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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

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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