A Financial Guide to Publishing Your Book

“If there’s a book that you want to read, but it hasn’t been written yet, then you must write it.” — Toni Morrison

I’ve always been a dreamer, a world-builder, and a storyteller. And the idea of seeing my words in print and to see them held in the hands of eager readers has always inspired me. 

But as I delved deeper into the world of publishing, I realized that the journey from manuscript to bookstore shelf is fought with financial considerations. Apart from securing the writer’s right with copyright protection (which by the way emerged just around the invention of printing press, Wikipedia), finances for their literature are also equally necessary.

And, it’s so easy to get caught up in the excitement of writing and forget about the practicalities, which include the cost of editing, design, printing, marketing, etc. 

That’s why I’ve put together this guide for all aspiring authors who want to turn their passion project into a profitable venture. Along with some striking tips on how you can maximize your return on investment. 

Let’s start! 

All-In-One Platforms

Did you know that you can use an all-in-one platform to streamline your book’s publishing? The experts from https://spines.com/ make clear on their site that up until now, authors had two main ways of publishing their books, which were traditional and vanity publishing. 

Both of these methods incur massive fees. All-in-one publishing is the new way to do it and costs a fraction of the price of either of the aforementioned methods. It’s worth exploring if you want to save money, streamline editing and proofreading, and get your work published as quickly as possible.

Set a Budget

If you want to publish a book, start by establishing a budget. Many costs need to be factored in, such as editing, proofreading, distribution, and printing. You can save money on all of these things by using an all-in-one platform. 

However, if you would rather self-publish another way, budgeting is important, so you know how much money you have to work with. Something worth noting about all-in-one platforms is that you typically pay for them on a subscription basis, which means

Editing Costs

If you are going to self-publish without the help of an all-in-one platform, make sure you think about editing costs. You are going to need to pay somebody to edit your book for you. 

The chances are that you won’t be able to spot all of the flaws your first manuscript has on your own. Somebody else’s help will make it easier for you to identify any problems or faults your work has, so they can be edited out. Find the most experienced and qualified editor you can, so your text is in the best shape possible when you publish it.

Hiring Proofreaders

In addition to an editor’s support, you will also need the help of proofreaders. Proofreaders will go through your final draft and tell you what they think of it. You can even ask proofreaders to read your first draft if you want to. 

The good thing about proofreaders is that they can highlight any flaws in your story. They can also give recommendations on what you should do to improve the text. There are forums where you can hire proofreaders, though make sure you factor their costs into your budget. Hiring proofreaders can be expensive.

Book Design

Are you going to physically print and distribute your book? If so, you need to think about design. A lot of people who self-publish make the mistake of rushing the design process. Unfortunately, a lot of people do judge books by their covers. 

If you do not put time and effort into designing your work, people might end up avoiding it purely because it looks unattractive. You can hire a graphic designer to work on your book’s cover for you. You may also wish to consider hiring somebody to create illustrations for your project if you think it could benefit from some.

Do You Know? 

According to the Invite Minister, on average a non-fiction book sells 500 copies in a lifetime, whereas 95% hardly sells at all. And, less than 1% of all books are carrying the whole industry. 

Online Marketing

Digital marketing is essential if you want your book to achieve success. There are many different ways of marketing a piece of writing, though none are free. You will have to invest time and money into marketing, otherwise exposure is impossible. 

The most effective form of marketing is to create a Goodreads page. You can also create one on Amazon. Some of the world’s most successful independent authors use these platforms because they are a great way to generate interest.

Printing Costs

If you want to distribute a physical piece of writing, factor printing costs into your budget and plan. The cost of printing books varies depending on the size of your project, the quality of the materials you wish to use, and the publisher you work with. 

Make sure that you shop around and find the best printing service you can. A printing service’s reviews will give you an idea of what they are like to work with, so check them out before making a hiring decision.

The Bottom Line 

Becoming an author can be a great way to make money. However, it’s not an easy thing to do. One of the most difficult parts of becoming an author is finding a publisher. Use the guidance given here if you plan on self-publishing your work, so you get an idea of the financial side of things.

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