Are you a self-published author, or considering independent publishing for your work in the near future?
Trust me, now is the time to jump on board with sites like Amazon, which currently offer writers an amazing opportunity to distribute their titles, help establish them as an author and generate a passive, monthly income for those writers.
Best news of all is that you can expect 70% royalties on your eBook sales, which is a substantially better rate than the average traditionally published author has to look forward to.
Although this may seem shocking to you, an author whose work is published traditionally receives somewhere around 10% for their paperback sales.
I don’t know about you, but that just doesn’t seem fair or right.
Fortunately, the rapid development and explosive popularity of eReader devices in the last few years has began changing all aspects of the publishing industry.
I highly recommend reading this thought-provoking new article published by The Wall Street Journal which discusses self-publishing success and all its implications. Don’t miss the fascinating infographic featured in the article as well.
In my case, I self-published my ebook and originally priced it at the very low amount of only $1.99. This is recommended for unknown authors, which I was.
After a few months, a friend of mine who has been traditionally published suggested that I change the price to $4.99, since I had managed to snag a considerable amount of author publicity during that time.
Trusting his advice, I upped the price. With a 70% royalty rate, I then made roughly $3.50 per sale. For a while, the number of copies I sold each month remained in the same neighborhood, proving that the price change had not affected much.
For each of the next several months, I sold between 100-115 copies. At $3.50 per copy, that was roughly $340-$380 per month of totally passive income!
May not seem like a huge amount, but I could use an extra several hundred dollars each month that just shows up in my bank account automatically. Just think about the potential here!
Independent Publishing Resources
- IndieAisle is a new site that is dedicated to helping authors find their audience by publishing their stories, promoting their work and offering tips on publishing.
- EverythingIndie is a new site for independent authors that offers an all-in-one solution for proofreading, editing, formatting, cover art and even testimonials!
- Feeling nervous in anticipation of your first author interview? Try your best to relax! They are easy and fun, or at least mine was! Be sure to avoid these 5 media interview mistakes!
- Have you been entertaining the thought of sharing your expert knowledge with the world by self-publishing an ebook? If you are unsure of where to begin, or not entirely sure how it all works, I recommend reading this great tutorial that walks you through the steps needed to write, launch and sell informational ebooks.