Why self-publishing your book won’t make money….yet

Many aspiring authors believe that self-publishing their books will lead to instant fame and profits. Thus, they cut off the publisher, write their own manuscripts, engage an editor and typesetter before getting it print and bound. Next, after they get their books on the shelves, they realize a little too late that it’s only one out of thousands of titles.

Months later, the books are returned to the author. Some are torn or dog-eared, with some copies reported missing or stolen. With the huge cuts taken by the bookstores and the distributors, the author gets a meager payout from his efforts. Proceeds from the few copies sold are hardly enough to pay for the time taken to write the book, let alone the printing costs.

Then, why do some authors make millions selling their books?

The secret…. creating buzz through strong book marketing and promotion strategies. The money comes when people KNOW about your book. The more people talk about your book, and the more benefit your book brings to your readers, the more popular it will become. Just learn from the likes of Robert Kiyosaki and Steven Covey. Why are they successful authors? Their books meet the needs of the market, and are valuable resources in the eyes of the readers. They have managed to create a niche for themselves, although their concepts have recently been copied by other authors.

The fact is, there is still a lot that needs to be done AFTER your book has been printed and published. If you don’t have a publisher, you will be responsible for making your book a success. You’ve got to draw out a publicity and promotion plan which you need to implement. It all depends on how you can make a good impression and draw attention.

Alternatively, you can always engage a book publicist to help you out. Of course, this will cost money, with the success of your publicist yet to be proven. You will still need to make author appearances, be at road-shows and book-signing events to promote your book. Unless you don’t intend to make your book a seller, there is no such thing as a “hands-off” approach in book promotion.

If it’s difficult to make money selling books, then why do people do it?

They have something else they want to sell. Books are great to leverage on as publicity tools. With a successful book, you gain recognition and establish credibility as a subject matter expert. Your book elevates you to a higher affluent status in the eyes of the people.

It’s common for authors to leverage on their popularity to sell spin-off products. Robert Kiyosaki indirectly promotes his seminars, the Cashflow game and other books through his books. With recognition as a guru in his field, Stephen Covey launches his 7 Habits of Highly Effective People programs, and other accompanying tools. Conversely, these authors also make money by selling and promoting their books during their events. This works both ways!

In the end, consider your objectives for self-publishing first before doing it. To make money out of self publishing non-fiction books, you should do this as part of a larger plan. Alternatively, be prepared to spend lots of time and effort promoting your book before it lands on the best seller list. Of course, this is on top of having good content in your book in the first place.