Strategies For Making Money With Self-Publishing

Strategies For Making Money With Self-Publishing

If writing books is your passion then here are twelve strategies for making money with self-publishing.

A frequent question I get is whether you can generate an income from writing books and self-publishing?

Like any industry there are the winners and the losers. There are those who make millions and then there are those who just make a little pocket money or even no money at all.

Multiple streams of income can be made from self-publishing, marketing, and selling your books. However, if you just publish your book and neglect to promote and market it then you will struggle to generate any income.

12 Strategies

Here are just 12 strategies for earning income streams.

With Amazon, you can earn up to 70 per cent in royalties. This is a really decent return for almost any business venture!

But just because your book is on Amazon or the IngramSpark platform doesn’t mean it will automatically sell.

You have to get the word out about your book. You need to let people know that you have a book for sale, how the book will benefit your market, and where they can get it.

As I talk about my most recent publication I am asked all the time – “Where can I get it?”

Because you have written a book you can earn from making regular book sales, and you can earn selling a related business product or service.

Income streams

1. Market your book on Amazon in Australia and enjoy having the royalties (35-70%)paid directly into your bank account
2. Market you book in other Amazon market places like the United States, United Kingdom, Canada, Germany, Italy, Mexico – wherever Amazon has a marketplace
3. Earn an income on Amazon for lending your book
4. To maximise your income satisfy the market by publishing your books in different formats – Kindle eBooks, paperbacks, hardcopies, audiobooks
5. As well as Amazon put your book on the IngramSpark platform and have it distributed  through 40,000 channels throughout the world
6. Australian book stores buy via IngramSpark so watch your sales on your IngramSpark dashboard
7. Australian libraries buy via their library suppliers who in turn buy from IngramSpark
8. Once your books are in public and educational libraries you may be eligible for Public lending Right(PLR) and Educational Lending Right(ELR) so you can get paid once a year by the Australian government. The more books you have in the libraries the more you get paid
9. Publishing a book helps your credibility and reputation so it’s possible to become a speaker and be paid to speak at conferences and conventions
10. Develop and sell an online course that relates to your book
11. Set up an eCommerce website with a shopping cart and sell books directly from your website
12. Keep a stock of books on hand and be ready to sell them directly to people in your network

There you are – 12 strategies for earning income from self-publishing your books.

I wish everyone a very Merry Christmas and a rewarding, safe and profitable 2022.

Marji Hill

Author and Coach

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