How to Earn Money as a Self-Published Author
Self-publishing a book makes you entrepreneur, or authorprenuer as I like to call it. As as self-published author, you’re more than just a writer. But that doesn’t have to be scary. Instead, we want it to feel powerful. When you treat your author brand like a business, you are in the driver’s seat.
In this article, we’ll discuss how you can set yourself up to earn money by selling copies of your book. Whether you simply want to recoup the cost of publishing or you want to turn your book into a full revenue stream, here’s how to get started.
1. Treat Your Book as a Business
If you want to be a successful self-published author, you’ll need to think of yourself as a brand. And that brand is now your business.
Allocate Your Time
When you self-publish a book, you’re not only investing your money to get a finished product (your book), but you’re also investing your time into writing, editing, and the publishing process as a whole. So, invest the time to review your editor’s changes and comments. Take the time to make revisions you get from your beta readers and your editor.
When your book is in production, review your typeset manuscript and your book cover before you give your final approval. Think of yourself as the creative director of your book; you have final say over every aspect of your project when you choose the self-publishing route.
Pay Attention to Finances
As an authorpreneur, your finances should also be top of mind. You’ll be responsible for tracking your expenses, revenue, and taxes. Expenses include everything from editing costs and book design fees (or publishing packages) to advertising.
Revenue is what you make when you personally sell a copy of your book and collect money, as well as when someone buys your book online and you get a royalty check.
For taxes, you’re responsible for submitting sales tax on a scheduled timeline, and you also have to claim how much money you make from selling your books each year when you file your taxes.
2. Market Your Book
Marketing your book is a top priority for self-published authors who want to make a profit. There are several techniques you can use besides social media. Give advertising and online book reviews a try, too.
Advertise Your Book
Advertising can be a highly effective way to promote your book because it helps you get your book in front of people who might not have otherwise found it. Here are six ways you can advertise your book:
Contact your local newspaper to get an interview or a small article placement about your book.
Reach out to book bloggers and influencers within your book’s target audience, and gift them your book.
Offer to write articles or guest blog posts for websites to get your name (and your book) out there.
Pitch yourself to podcasts that are aimed at your target audience.
Donate copies of your book to your local library.
Share your book with local booksellers and boutique owners in your city.
Online Book Reviews
Book reviews are another powerful tool you can use to market your book. Set up a launch team during your book’s pre-sale period and have each member of your team write reviews on Amazon, Goodreads, Barnes & Noble, etc. This can help you generate buzz and interest around your book, and more people who come across your book online may be willing to purchase a copy because your book has reviews.
Network, Network, Network
Finally, attending book fairs and conferences offers you the opportunity to socialize with other authors and industry professionals. Plus, you’ll be able to learn about new industry trends and gain insights into the publishing world.
3. Keep Feeding Your Fans
Another important part of being an authorpreneur is to build an audience and keep feeding them content. This keeps fans of your book engaged and interested in your future work.
Create Regular Content
One of the best ways to keep feeding information to your audience is for you to create regular content they can enjoy. This content can come in many forms, including blog posts, email newsletters, Substack articles, and social media updates.
In addition to creating regular content, you might also consider offering your fans exclusive content they can’t get elsewhere. Maybe your share sneak peeks of new releases, behind-the-scenes looks at your writing process, or even have special merchandise created that's only available to your most dedicated fans. These things make fans feel like they're part of an exclusive club, and that can help strengthen their connection to you and your books.
Interact With Your Audience
Don’t forget to directly interact with your audience, too. Respond to comments on social media, host Q+A sessions either in a live video or through your Instagram Stories. If you’ve published a nonfiction book, you could even offer one-on-one consultations or coaching sessions to your audience.
Tell us how you’re building your audience?