Self-Publishing—who’s making the money now

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In the early days (2010) John Locke loomed large on the horizon as the first self-published author to sell one million books. Amanda Hocking and Hugh Howey were not far behind. We did the math 1,000,000 X $0.35—and jumped on the band wagon. We all thought we too could be as successful as these pioneers.

Phase 2 of self-publishing saw the emergence of a plethora of “how to”—how to write, edit, publish.

 

Many blog posts one could read for free, but how did we know the blogger had any real expertise? We turned to books instead, however a large number of these books are also penned by unknowns, so we had to pick wisely. It quickly became almost compulsory to attend writing conferences as we hoped to find expert advice from the pros.

Phase 3 carried formatters, editors, and cover artists along for the ride. And those of us who were smart hired them to have our books be as professional as possible. If the big publishers wouldn’t take the time to look at us, we’d do it ourselves, and we’d do it right.

Phase 4? Ah, yes, another plethora, this time of advice on how to use social media to promote your books and the great debate about pricing and the wisdom or stupidity of making your books free;  all of this along with numerous book marketing sites. Some listed your book for free, others charged a fee. The problem of course was determining which were most effective, which really had the following to get your book “out there.” BookBub rose to the top charging what are exorbitant rates for most struggling authors, yet it is the one we all aspire to be on.

And, Phase 5? Perhaps the cleverest of all—“How to Market” courses with lovely videos, webinars, and supplementary materials, seemingly (from what one sees on the screen) prepared in the comfort of one’s own home. For the mere sum of $500, $600, $700 or more, you’ll receive the magic answers. Many of the presenters are Indie authors themselves. These “experts” promote strategies they claim worked wonders for their own sales, which makes one question why they are doing all the work necessary to create and present these courses instead of writing more books.

As we wade our way through the phases, weaving back and forth in an effort to produce the best possible book and find the elusive magical hook that will reel in readers, it’s phase 5 that intrigues the most. Convince 1,000 or 2,000 or 3,000 authors eager for sales to buy your course and you’re laughing all the way to the bank.

 

 

 

 

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