Authors Can Make A Lot of Money
In one of my very first blog posts, I shared all the information I found on the types of writing and writing careers there are and shared how that research and my methods help me settle on the type of writer I wanted to be. But that’s not the only information I found. I also found so many ways authors can make money. If I was going to be an author or writer I wanted to know how it could pay the bills.
There are so many ways for published authors to make money. And some of those ways differ depending on how an author publishes their book. Here are some of the ways I found.
When publishing traditionally authors receive an advance and then royalties. After a contract with a publishing company is signed and before the book gets officially published does an author get an advance. The advance can be paid out in part or in full depending on the terms and negotiations agreed upon. How much money an author gets in advance depends on how long someone has been a publishing author with multiple, the quality of the writing in the book, the author’s platform, the relevance/popularity or potential of the topic of the book and etc. Authors do not have to pay back or give back the advance
Now, after the book sales have earned out (reach the same dollar amount in sales as) the advance does an author begin to receive royalties for every book sale.
Self Publishing And Hybrid Publishing
- Direct Book Sales
Self-publishing and Hybrid publishing payout similarly. Royalties/Book sales. When you publish traditionally after you advance when a book self the publisher gets their cut and so do you and the authors cut can be a bit low compared to the cut authors get when they self publish or hybrid publish. Self/Hybrid publishing doesn’t have an advance, but rather a really high percentage of the book sale.
No matter how a book is published, an author can use these methods to make more money with their published book or record/expertise.
- Speaking Engagements
Any author can get paid to speak at an event or can get gain profit hosting their own: Speaking about the book, the process of writing the book, or book advice and so on.
Like the speaking event, an author can give his/her advice, tips, or share their process with a course, guide: Teaching and sharing across multiple platforms using many methods or just one.
- Book Signing
Book signings can help authors sell books and market their books in many areas.
They can also sell merchandise and products inspired by the book at the book signing event or any other event. Or through an online or in-person store.
In all of these events and many others, authors can make money by charging entry fees or admission to events inspired by the book. Or any other occasion that allows the author to market, sell, their book or parts of it.
No Matter How You Publish Your Books, There is Money For Authors To Earn for Their Work
These are some of the many ways published authors can make money, with traditional publishing, self-publishing, hybrid publishing, and ways that work no matter how a book is published.
Until my next words (on here that is)