Money from books may be hard to get but a very viable source of income generation once you get the hang of it. Who would not want to get published and get a fair share of fame and at the same time, earn from it? You can turn this dream into reality if you follow these simple rules to help you earn money from books.
10 Tips on How to Make Money from Books
1. Research the industry.
If you would like to earn money from writing books, study which books are very in nowadays. Who would have thought that the trend today would be on chick lit, compared to say ten or five years in the past. It has been researched that majority of those who buy books are women, and they read them too. But it does not automatically debunk the other genres; of course they are workable as well. Inspirational and self-help books are also big nowadays. You just have to research on what publishing companies lean towards on and which makes more money from books.
2. Remember that it’s the ideas publishers are after, not the books.
Earning money from writing books may involve a tedious process, but you actually do not have to pressure yourself into writing a full-blown book immediately. First you have to develop an idea, and propose it to publishers, giving them a preview of what you intend to write. From here they will arrive at a decision if there is an audience for it and if they will earn from it. On your end you must prove to them that they too will earn money from books.
3. Treat your book’s proposal as your book’s business plan.
Every business venture starts with a proper business plan. And earning money from writing books should be no different. Plot out your five-year plan for the book once it gets out in the market. This is the ideal time you should devote to promote it.
4. Develop a wide platform.
Bringing in money from books involves establishing a platform, which is your capability to sell books to the people who you expect to buy from you, your selected target market. Are you already an established personality and being recognized by these people? Do you give out talks to groups, companies and how often? Do you regularly write articles in magazines, newspapers or the internet? Do you have connections and clients that can aid in marketing your books in bulk to their companies? The goal is to be a mover and shaker.
5. Emerge as a media star.
To earn money from books also involves pumping up yourself to be a star. If you are not yet a regular face on TV, a usual vibrant voice on the radio, or someone who has appeared on print many times, do not fret. If you know you have the potential, then that’s already a good start. If you have already appeared on local TV and had great reviews, then always bring that up.
6. Speak up.
You have to have enough share of voice and personality if you want to earn money from books. I was once hired to media coach one of rising star authors because although her book was getting attention, she lacked the personality and people appeal, and they feared that this might affect the sales of her books.
7. Hire a media coach.
Related to the tip above, investing on media coaching can help you earn more money from books. But this means you really have to practice and be committed. You can practice being a media maven by researching on ideal interviewees and mimicking which behaviors you like. If hiring a media coach is over your budget, you can practice with a friend and a video camera and do some mock interviews. You can learn a lot just by watching yourself on tape.
8. Amplify your platform.
Top New York publishing houses Simon & Schuster and HarperCollins claim that it is critical for a writer to have a strong platform if he really wants to earn money from books. A platform as mentioned earlier is a blueprint of how you will market your book to your audience.
You first have to prove to the publishing houses that you do have a following. They would want to know how many books you have already sold in the past. Maybe you are not yet that out there but maybe at least you can show your track record of how much you have sold within your community or if there were buyers across the globe. What you want to prove is that you have a capacity to sell to these people who have bought from you already and much more likely to prime to purchase from you again.
9. Get high-profile people to endorse your book.
An instant boost to earning money from books is to get popular personalities to promote them. Insert these commendations on the first page so that editors or agents will easily see them. These high-profile people include celebrities, best-selling writers, or well-known experts in your field. Being endorsed means that high-profile people trust you, and that investing in you is worth it. These accolades also fit well on your book cover jacket and will help in book selling especially with the tough competition these days.
I’ll let you in on a secret – sometimes the accolades are actually written by the authors themselves, since these high-profile people are usually busy and do not have time to read through and review your book. But if you do this, make sure you ask for permission and not send it to them unsolicited. You can just do the work for them and then have them sign it.
10. Perfect that sample chapter.
After you have developed your platform, and proven your potential market, the next step to in earning money from books would be to perfecting and sending out that sample chapter. The next thing you have to proof is that you can write and that you are good. And if you feel you aren’t, you can actually hire a ghost writer. Keep in mind that the platform you established is irreplaceable. It is actually you, your striking personality and presence that they are investing in.
Generating money from books may not be a piece of cake but once you get the right attention from the right people, fortune and fame may follow. Just follow these techniques discussed here to help you earn money from writing books.