Want to Make Extra Money Now?
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Do you think you want to publish a book and get paid? Publishing a book is a lot of work, but it can be a very rewarding experience. You can not only make money but can use it to help you sell your products and services which we'll go over as well.
But first, we'll go over the different ways to publish a book and get paid for your work.
Finding a Publisher
The most common method is to find a publisher who will offer you an advance and royalties in exchange for the rights to your book.
Going this route generally means your book will receive a higher level of editing, marketing, and distribution than if you were self-published.
If you're looking for a publisher, the best place to start is by doing some research and finding one that seems like a good fit for your book.
There are a number of ways to find publishers, including online directories, attending writers conferences, or even through personal connections.
Submitting a proposal
Once you've found a potential publisher, the next step is to submit a proposal.
Your proposal should include an overview of your book, information about your target audience, a marketing plan, and some sample chapters.
If the publisher is interested, they will offer you a contract that outlines the terms of your agreement.
It's important to have an attorney look over any contract before you sign it, as it will likely include clauses about things like royalties, subsidiary rights, and how long the publisher has exclusive rights to your book.
How to get paid with a publisher
Most publishers will pay you an advance against royalties, meaning they will give you a lump sum of money upfront and then deduct that amount from your future royalties.
Royalties are typically paid twice a year and are calculated based on the number of books sold. The amount you receive per book will depend on things like the retail price of the book and the royalty rate specified in your contract.
In some cases, you may also receive royalties for things like foreign rights sales or audio book sales.
If you have any questions about how royalties work, be sure to ask your publisher before you sign a contract.
Self-Publish Your Book
Another option is to self-publish your book. This can be done either by printing copies yourself and selling them, or by using a print-on-demand service. With print-on-demand, you make your book available online and the printing company prints copies as they are ordered. This means there is no upfront cost to you, but you will usually make less per book than if you had found a publisher.
If you have a digital book, you can also self-publish by uploading it to a platform like Amazon Kindle Direct Publishing. With this method, you set your own price and earn a royalty on each sale.
How to get paid when self-publishing
No matter how you choose to publish your book, there are a number of ways to get paid for your writing.
If you have a print book, you can sell copies through online retailers like Amazon, or in physical stores.
If you have a digital book, you can sell it through platforms like Amazon Kindle Direct Publishing or Apple Books. You can also earn money by setting up a subscription service, or by selling access to exclusive content on your website.
Most self-publishers make the majority of their money through book sales, but there are a number of other ways to monetize your book. For example, you could offer paid consultations, speaking engagements, or online courses related to the topic of your book.
If you're interested in publishing a book and getting paid for your work, there are a number of different options to choose from. Find a publisher, self-publish, or monetize your book in other ways to earn money from your writing.
No matter what route you choose to publish your book, remember that it is important to market your work in order to reach your target audience. Creating a website or blog, using social media, and participating in book fairs are all great ways to get your work out there. With a little effort, you can successfully publish your book and get paid for your hard work!
How Getting a Book Published Can Help You Sell Your Products & Services
Very few authors make a fortune from book sales. Actually, that’s not true: not even a small percentage of published authors make a living from their royalties. And those are the writers who have book deals.
Which begs the question: why do so many people dip their toes into publishing every year, whether with a big-name press or as a self-publishing author?
The short answer is that while most authors are unlikely to retire on royalties or make money fast, a book can be an invaluable tool to support your other businesses.
In this next section, I’ll talk specifically about non-fiction publishing and show you how authors are using their books as a powerful tool for selling their products and services.
What “need” does your product fill (and for whom)?
This is the first question any entrepreneur needs to answer: where is there a gap in the market, and how does your product fill that gap? Another way to look at it is to ask, “what problem am I solving?”
If you’re selling bicycles, maybe they have a safety feature that makes it less hazardous to ride in a busy city? If that’s the case, it also takes care of your next question, which is: who is my target consumer?
For another example, if you’ve developed new billing and invoicing software, maybe it helps small business owners handle their taxes by themselves — and will save them thousands in accounting fees.
If you’ve managed to identify answers to those two questions (what problem do you solve? and for whom?), then you’re halfway to a book that can help you sell that product.
How else can you help them solve this problem?
A big mistake would be to write a book that’s all about how great your product is. People don’t want to read a 200-page sales pamphlet. Your aim should be to write a book that helps solve a problem that your target audience has.
If you’re that business with the accounting software, why not write a book that contains your insights and tips for handling small business taxes? Or if you’re selling those safe bikes, perhaps your book is about cycle safety or a directory of cycling routes. You want to connect with your target customer, make them more aware of the problem that your product will eventually solve, and offer them a solution.
These solutions should not involve them buying something from you; that will come later. Now is the time to get to let your customer get to know you, earning their trust — and nothing betrays trust more quickly than a hard sell.
Get out of my book (and into my mailing list)
Once a prospective customer has read your book, learned to love it, and sees you as an authority in your field — it’s critical to get them into your business’s ecosystem. One of the best ways to do this is with a lead magnet (or a reader magnet, as they’re called in the biz).
Somewhere in the book, let readers know that they can go to your website and download additional content or business tools for free. This might be a worksheet, a template, a webinar, or an additional book. So long as this content is of some value to the reader, they will be happy to sign up to your mailing list in exchange for it.
Treat your customers right
At this point, if you’ve done everything correctly, the people on your mailing list who have read your book and downloaded the extra content will be “hot leads” — customers primed to purchase your product or service with just a little nudge.
You can set up email automation that will send new subscribers a few useful pieces of content before finally dropping your sales email.
Be sure to take care of these leads: as folks who have bought into your brand, they’re also more likely to evangelize on your behalf. Offer them discounts or bonuses that are exclusive to them; be sure to answer their emails promptly; give them discount codes to share with their contacts.
Also, remember to engage them through your newsletters regularly. Be careful not to spam them, though! Keep your newsletters relevant, and always be sure to offer them free content that’s of value to them. Then, when the time comes to sell them your next product, they’re ready to hand over their hard-earned cash.
And I haven’t even touched on how authoring a book will give you a platform and allow you to secure publicity opportunities like conference appearances and guest posts. In short: if you go about it the right way, publishing a book will be like buying a magical marketing Swiss Army Knife — you’ll wonder how you ever got by without it.
