So many new writers have unrealistic expectations. The reason for that is simple – there’s a huge number of companies out there, all eager to take as much money from you as possible, with the promise/justification being that you’re on the cusp of becoming successful, famous, and wealthy. Who wouldn’t be happy to spend a few more thousand dollars to guarantee that outcome!
There are also lots of “self-help” sites that exist to encourage and assist people to become a published writer. Some studies have suggested that writing a book is one of the most common aspirations people have, and with self-publishing becoming easier and with less of a cost-barrier up-front, more and more people are doing exactly that. These sites too prefer to encourage writers, and while they don’t outright promise fame and fortune, they also don’t go out of their way to share the likely low return on time most authors experience.
So the reality of being a published writer is far removed from the general perception. We’re not saying you can’t become a published writer, and we’re not saying it is impossible to become the next big-name bestselling author. But we are most definitely saying it is not easy, and to do this requires a huge investment in both time and money.
What makes a book successful with lots of sales? Lots of investment in design and promotion, and transitioning from a single title to a series. A book’s success can be boosted if you already have a media presence and a significant following of people who are likely to then buy your book.
We’ve seen plenty of throw-away books by well known people (the most obvious example being books by aspiring politicians) that sell lots of copies, even though they have very little compelling content. It is the same for media stars, and television personalities. That is probably not you, but especially if you’re writing a specifically themed book, maybe you should start trying to build a following via a blog, a Facebook page/group, a Twitter feed, Instagram, or whatever else.
There are very few shortcuts to avoid the need for some combination of a substantial investment in time, money, and following.
If you’re publishing more for pleasure and “self-actualization”, then you’ll be happy putting your book(s) “out there” and seeking a few hundred sales – enough to cover your up-front design costs, some of the time you’ve spent, and to pay for a bit of marketing and maybe with a little windfall earnings left over.
But if you’re wanting to become a professional writer, then your struggle and the odds you face is similar to becoming a professional actor and Hollywood big-name movie star.
We know an author who self-publishes, and says he spent over $100,000 getting his first book to market and making it into an award-winning best-seller. He lost a massive amount of money in doing so – not only the $100k he spent “up front”, but also because he quit his well-paying job to become a full-time writer over a year before his first book came out. But his investment in time and money has provided a base for a series of books, with each successive book in the series requiring less investment up front, and generating more sales and cash return. Now, when a new reader discovers his book series, he stands to sell them the first book in the series at a very low return, and then the four subsequent titles at around $8 each. Say about $35 to sell all five books to each reader. Plus, when he comes out with a sixth book, he’s a huge market of waiting readers/buyers, eager to buy it.
We know another author who for several decades has been churning out one or more romantic fiction books every year. She makes a small income from her “back catalog” and each year gets a nice income bump when a new book or sometimes two comes out, and it is her full time job. But in truth she’s not earning much more than she would with most ordinary average-paying jobs. But at least she is doing what she loves.