Make Money Self-Publishing
Make Money Self-Publishing
A common question from aspiring authors is how to make money self-publishing.
“Yes” – you can make money self-publishing. Many authors have found success and have generated income from self-publishing their books.
Self-publishing has several advantages. Authors control the publishing process; royalties are high; and, there is the opportunity to reach a global audience.
Here are 10 ways to make money self-publishing your books:
When you self-publish a book, you earn royalties from the sale of each book. Platforms like Amazon’s Kindle Direct Publishing (KDP) and IngramSpark allow you to set the price of your book and earn a royalty percentage.
2. Multiple formats & different platforms
Publishing your book in multiple formats and on different platforms widens your reach. This gives you the potential to make more sales and more revenue. Not only are you appealing to different markets you are accessing markets throughout the world.
eBooks are a popular because they are easy to distribute, and readers can purchase and download them instantly. Authors can generate income from eBook sales by pricing them competitively and marketing them effectively.
Self-publishing platforms offer options to create print-on-demand (POD) versions of your book in both paperback and hardback formats. This means that when a reader orders a printed copy, it is printed and shipped on demand. You earn royalties from the sale of each printed book.
Audiobooks have gained popularity in recent years. This is another market authors can tap into.
Platforms like Audiobook Creation Exchange (ACX) and Findaway Voices allow authors to produce and sell audiobooks, earning more royalties based on sales.
Publishing an audiobook gives you an additional income stream. They help you build authority in your space, and they create an entirely new experience around the content you’re sharing with the world.
6. Expanded distribution
In addition to online platforms, there are expanded distribution options. Think about making your book available in bookstores, schools, libraries, and other retail channels.
With IngramSpark and its distribution base of over 40,000 outlets, you can get your books into bookstores, schools and libraries. This broadens your reach and increases your earning potential.
7. PLR and ELR
Once you get your books into schools and libraries you can be eligible to receive income from the government’s Public Lending Right (PLR) and Education Lending Right(ELR).
In addition, for registered users, the Copyright Agency collects and distributes copyright fees for the copying and sharing of text and images.
8. Build a list of raving fans
Self-publishing provides an opportunity to connect directly with your readers. Build a loyal fan base.
By engaging with your audience through social media, email newsletters, email broadcasts, and author blogs, you can cultivate a following that supports your work and leads to increased book sales.
9. Market research
The self-publishing adventure really starts when you first decide to write a book. Before you even put pen to paper an author needs to do their market research. You need to discover whether or not you are writing in a profitable niche.
If you write a book and it has no market this could result in zero sales. You don’t want to become a very disappointed author, do you?
If you want to earn an income do your market research and write in a profitable niche.
10. Become an Author Entrepreneur
Once you have published your book and become an authority or established your author platform there are more ways then for growing your income.
The backend of self-publishing is to leverage multiple sources of income by scaling up your book business. Become an Author Entrepreneur.
There are multiple ways for growing your income:
- affiliate sales,
- freelance writing,
- speaking engagements,
- creating and selling online courses,
- content writing for businesses,
- organising writing retreats,
- having your book adapted into a film or TV show,
- merchandising, and
- much more.
It’s important to note that while self-publishing offers great potential for income, success is not guaranteed.
Building an audience, marketing your book effectively, and producing high-quality content are crucial factors for achieving financial success as a self-published author.
Have you thought about becoming a self-published author?
The Self-Publishing Genius, my online program of 8 modules containing more than 70 video lessons is for aspiring authors who want to manage the entire publishing process themselves, who want to dive deep into self-publishing, and who want to generate multiple streams of income.
The program is designed for those who want their hand held with personal step-by-step guidance to help them navigate their way through the cyberspace maze of book publishing.
Find out more by getting your FREE ticket to my live masterclass. Press the green button below.
Author and Coach