Self Publishing a Book Seems Magical & Free–but, Truthfully, it is Hard Work & Costs Some Bucks
Now that digital publishing has spawed the concept of self publishing a book–the book publishing industry has entered the field of the World Wide Web. Therefore, the obvious question rises on the horizon of online book publishing. Is it possible to make money when self publishing a book? In this article we address the question for those considering entering the ring of digital book publishing.
History of Book Publishing
Book Publishing reaches back into history; and traditionally was an pricey venture. The printing press was an expensive piece of equipment in the first place, as well as the set-up for printing just one book. Consequently, this required an up-front investment for printing at least 10,000 books to make one book affordable. See the video below which explains in more detail the difference between digital publishing and traditional publishing.
Now that digital publishing allows any of us to print just one book affordably, that makes self-publishing doable for a one-person or small enterprise.
Money Required for Self Publishing a Book
Before we can talk about making money in publishing a book, we need to talk about the costs involved to get started. Since expensive printing equipment or set-ups are not required, anyone with a simple computer and an idea for a book can enter the field of book publishing. With no large investment required, the potential profit obviously skyrockets.
However, expect to put in some sweat equity, or pay labor costs to prepare the digital file for publication. For more details about costs involved in publishing a book read, Real Self-Publishing Costs to Publish a Book.
The Millions Made by Publishing a Book with Digital Publishing
Digital publishing equipment has made a new self publisher era possible. No longer considered ‘vanity publishing,” many successful traditionally published authors are getting excited about the size of their royalties made by publishing a book themselves. Take Barbara Freethy, for instance, author of 34 novels including the Wish series and first author on Kindle and Nook to sell one million books. She has been writing for 20 years and was published through four different publishing houses. Freethly is now self-publishing. “Once I saw how well my self-publishing books were doing and how much more attention and focus I could put on my own books, it was a pretty easy decision [to continue self-publishing] because those books have been doing so much better,” Freethy comments.
Amanda Hocking has made millions with her romance series on e-book platforms as well. Considering now, that the self-publishing industry is estimated as a 52 million dollar industry in 2012, there is big money to be made in publishing a book. Self-publishing figures appear to be eclipsing traditional book publishing numbers many times over.
Amanda Hocking and Barbara Freethy are just two of the most well-known millionaire authors. Indeed, this article just barely scratches the surface. Huffington Post Live has a comprehensive video interview with some of today’s most successful self-published authors. Therefore, with the publishing playing field leveled, they interview Hugh Howey, Darcy Chan, Bella Andre, Jasinda Wilder, all New York Times Best Selling authors, and all approaching 1 million or more in book sales. So, with royalties what they are in self-publishing, you can bet those sales numbers has brought each of these authors millionaire status.