Authors make a lot of money from book sales, but there are other ways to make money as an author. Writing a book is only the beginning, but it is the beginning of numerous opportunities for you to increase your income.
I’m not saying you can’t make money from writing books. You absolutely can. If authors can earn aside from writing, then how much do authors make? Here are some ways to make more money as an author, which will lead you to need to think beyond book sales.
You can take what you know and create an online course. People are always looking for new courses to learn, especially if it’s from a well-known author. You don’t have to be an expert in anything, but you should have more knowledge than the average person. You can start with a single niche and then create more courses. This way, you can make money while you aren’t writing a new book.
2. Launching a Blog
This may seem like a lot of work, but if you are already writing articles or blog posts, then you are well on your way. You can launch a blog for free using WordPress or Blogger. You will need to put in some consistent work, but once you get things going, it will be easier to maintain. You can make money through advertising and affiliate marketing.
3. Podcasting
Podcasting is becoming more and more popular. You can create a podcast around anything that you’re passionate about. This can be done for free using a program like Audacity. You can then submit your podcast to iTunes and other directories. You can make money through advertising or by getting sponsorships from companies.
4. Speaking and Lecturing
This is a great way to make extra money if you’re a confident public speaker. You can give talks at local libraries or community centers. You can also give lectures at colleges and universities. The key is finding something you’re passionate about and that you know people would want to hear about.
5. Consulting
If you have experience in a certain field, you can offer your services as a consultant. This is a great way to make money if you don’t want to commit to anything long-term. You can offer your services for an hourly rate or a project rate. This is a great way to help people and make some extra money at the same time.
These are just a few ideas of ways that you can make money as an author. The key is to think beyond book sales. There are many opportunities out there for you to make more money.
Differences Between Self-Publishing and Traditional Publishing
It’s necessary to distinguish between self-publishing and traditional publishing to comprehend how much authors can make. The following are some significant differences between these two types of publishing:
Marketing: In traditional publishing, the marketing department takes care of getting the book into the hands of readers. They are also responsible for creating marketing content, planning book tour events, etc. However, in self-publishing, the author has to be their own marketer and sell their books to readers themselves. They must also take on this responsibility themselves or hire a book marketing company.
Distribution: In traditional publishing, the publisher is responsible for getting the book into stores and making it available to readers. However, in self-publishing, the author must make their own distribution arrangements. They have to find a way to get their books into readers’ hands, whether through online retailers or brick-and-mortar stores.
Reach: In traditional publishing, the publisher has a network of bookstores and other outlets that they can use to get the book into the hands of readers. They also have a team of marketing and public relations professionals who can help get the word out about the book. However, the author is limited to their networks and resources in self-publishing. They have to rely on their own efforts to get the book into the hands of readers.
Timeline: In traditional publishing, the author has to wait for the publisher to go through the editing, design, and printing process. This can take months or even years. However, in self-publishing, the author has complete control over the timeline. They can publish their book as soon as it’s ready.
As you can see, there are some major differences between self-publishing and traditional publishing. These differences affect how much money an author can make.
How Much Do Self-Published Authors Make on Amazon?
It’s no secret that many authors make a great living by self-publishing their books on Amazon. In fact, some authors are even earning over $100,000 per year. Generally speaking, self-published authors can expect to earn between 35% and 70% of their book’s list price on each sale. So, if an author sells a book for $10, they could earn anywhere from $3.50 to $7 per sale.
Of course, the more books an author sells, the more money they’ll make. So, it’s important for authors to price their books competitively and to create compelling book descriptions to increase their chances of making sales.
Additional Tips to Sell More Copies
Watch Your Length – You have a lot to say as an author. However, less is more when it comes to booking length. The average reader only reads 250-300 words per minute, so if your book is too long, it may not make it to the end. Keep your chapters and sections short and sweet to keep readers engaged.
Optimize Your Title – Your title is the first thing potential readers will see, so make it count. Use keywords that potential readers are likely to search for and ensure your title accurately reflects the content of your book.
Create an Engaging Cover – Readers often judge a book by its cover, so make sure yours is eye-catching and engaging. Hire a professional designer if you need to, but make sure your cover looks great on both digital and print platforms.
Invest in Marketing – Don’t rely on word-of-mouth marketing alone to sell your book. Invest in some paid marketing efforts, such as online ads or a book tour, to reach a wider audience.
In Conclusion
Authors who want to make money outside selling books have a few options. They can plan book tour events, distribute their books through various channels, reach a wider audience with paid marketing efforts, and so on. While self-publishing offers some advantages over traditional publishing, it also comes with its own set of challenges. However, with a little bit of effort, any author can find success.
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