Monday, May 18, 2020

Know Your Income Options After You've Published a Book


What many first time authors don't realise is how life changing publishing a book can be. 

The common belief is that when you've finished your manuscript and published your book, that is all you have to show for it.  But that's not true, there is more to it than that.  I'm going to show you how publishers make their money, and how you can do it to.

Book publishers are here to make money to give handouts

Publishing houses are full of people who have a passion for books and writing, this shouldn't detract from the fact that publishers are there to make money.

Let's take a look at how rights work for authors, and how you can turn one book into numerous income streams. 

1.  Ebook edition

A hugely popular way to read books these days, creating an ebook gives you the option to sell your books on platforms such as: Kobo, iBooks, Kindle, Nook, Tolino, Scribd, Smashwords and plenty of other retailers online.

2. Print edition

With the introduction of print on demand, you only sell what is printed, which means you don't have to pay an upfront fee for a warehouse to hold your physical books.  Services like Kindle, or Ingram Sparks allow you to sell your paperback books through massive retailers like Amazon or Barnes & Noble.  You make royalties by whatever system is set in place.  This system differs from company to company.

3. Audio edition

Audio books are another publishing option, and can be commissioned by you, giving you the option to split the royalties with the narrator.
Why it's good to be an independent author

Some authors only sell their books close to home in domestic markets.  The beauty of being an independent author means you're open to 190 countries worldwide, giving you the option of creating multiple formats in those countries.  This may create new opportunities for your books and writing further down the line.

Foreign language editions

You can publish ebooks and print books in German, Spanish, Italian and English, multiplying your rights and income.

Let's not forget your subsidiary rights

These are rights for books made into drama for TV, stage or film.  There may be an anthology waiting in the wings from a group of short stories you've been writing, which you can then turn into a collection when you have the rights back.

All of this information may be a lot to take in, but this is all to show how you can make money from your books, and intellectual property.  The more books you create, the more income streams start multiplying.

It's easier to see why a publisher might want to seek you out, and invest in your work.

I'd love to hear your thoughts about making money from your books in the comments below.
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