The key to making big profits in publishing is to become a publisher. The writer is very rarely making enough money to make writing a full-time job. However, if you publish your own book then you, as a writer and author, stand to make great profits. Here are the keys to making it big in self-publishing.
1. Research your book topics supply and demand before you put words on paper. In order to make money in any market, you need two things. You need people to need your product and you need there to be relatively little competition. Some competition is good because if no one else is doing it, there is usually a reason why. But, you might be saying, what about the idea that is so unique that no one knows they need it yet? If you have that kind of revolutionary idea, I still say ‘test it’ make sure you are going to get enough interested parties before you commit the time and attention it takes to create a book.
2. Commitment. Not only do you need enough commitment to write your book you need commitment to publish it and then market it effectively. If in the process you drop the ball so to speak, you will not make big profits. How do you maintain your commitment to your book project? Well the first step, doing a little research might make it easy to get excited. There is nothing better than knowing you are absolutely going to make tons of money to keep you motivated. Some other things that motivate people to see things through are deadlines, financial commitments, and even bragging that you are writing and publishing a book. Once you tell all your friends and family what you are doing you kind of want to follow through, right?
3. Knowledge. No, I do not necessarily mean knowledge to write a book. I am assuming you are writing about something that you are either already knowledgeable in or are able to research. The kind of knowledge I am talking about is knowledge about publishing and book marketing. Now, this is not something most people have so you are going to have to go out and get it.
4. Pride. The best way to sell your book, and to make sure it is a good product, is to have pride in your work. Pride will create an exceptional product and pride will sell it. You are going to be so proud of your book you would not be able to keep your mouth shut about it and you should not! Word of mouth marketing and networking are two skills that sell books, use them. Let your pride work for you. Please know that I am not talking about being so terribly proud that you are never truly satisfied with your book and you do not finish it or you let the writing process take far longer than it should. Nothing is 100% perfect – nothing. Do not be so proud that you do not allow your best to be enough.
5. Creativity. Creativity is involved for certain in writing your book but I am referring to the kind of creativity you will need to market your book and to gain publicity. There will be an abundance of opportunities to market your book but you may not see them unless you are open-minded and approach book marketing as a creative endeavor. Yes, you will draft press releases, write articles, create a website, and contact booksellers about selling your book but how will you make these marketing tools stand out? How will you differentiate yourself from other authors?