Whether you just want a little side cash, or are hoping to hit the literary lottery, you’re probably wondering: How much money can you make from writing a book?
Turns out, it’s a LOT.
There are thousands of authors out there who have retired early and are living easy on passive income from their book royalties.
Just how much money you can make from writing a book depends on a number of factors, which we will cover in his blog. But keep in mind that your future book sales are just the tip of the iceberg when it comes to the profits you can rake in from publishing your expertise (more on that tool).
Before we dive into how much money you can make from writing a book, let’s talk about why you can (and should) write a self-help or business book. Or, if you'd rather dive in with a personalized discussion, you can get on the phone with our team:
This blog about making money from writing a book will cover:
First, you CAN write a book
You don’t have to be a Lit major or masterful wordsmith to write a book. In fact, you don’t even have to be very good at writing. What you do need is a compelling idea, subject matter expertise, or lesson to share with the world – one that will create transformation in the businesses or lives of others.
And guess what? You have that! Even if a book has been written on the same topic. Because only you have the perspective of your unique life experiences.
For example, there are many books about how to build helpful and healthy habits, but that didn't stop the Atomic Habits book from topping bestseller charts and selling millions of copies.
If you’ve started a business or service, or have recently decided to become an entrepreneur, then you’ve already found your niche – and you can use it to start a business book.
Did you overcome any hardships to get where you are today? How can you inspire others to do the same? Did you make a super smart business decision? Did you reach success in an unconventional way – perhaps by doing the exact OPPOSITE of what many business coaches are saying to do?
Share that wealth of wisdom with the world!
It’s not hard to learn how to write a self-help book – whether about business or some other topic. And there are plenty of companies, like SelfPublishing.com who can help you go from initial book idea to bestselling author and public speaker or booked-out entrepreneur.
You can even hire a ghostwriter to do most of the work – and we can show you how!
Related: Books Like Atomic Habits
How much money can you make from writing a book about your business?
So now you know you can write a book, but is it worth your time? How much money can you make from writing a book?
Let’s talk honest numbers and break it down.
There is no one answer for how much money you can make from writing a book. That’s because there are a lot of factors involved. An author salary could be anywhere from $700 a month to $7,000,000.
But if you have a compelling business idea to share, and know how to market your book, you could stand to make a LOT of money.
How much money you can make from writing a book depends on:
- Book format
- Audience size
- Marketing volume
- Revenue per sale
- Consistency of bookselling
- Number of books published
- And your publishing route (self-publishing vs traditional publishing)
Let’s take a closer look at a couple of the main factors.
Traditional vs self-publishing
One of the biggest factors in how much money you can make from writing a book is the publishing route.
If you’re writing a book to grow your business and are hoping to make as much profit as possible, you want to self-publish your book.
When you self-publish, you have complete control over the book and how it's marketed. You also get way more from the royalties.
Self-published authors can typically earn 40% to 60% of the selling price of their book in royalties. Traditionally published authors, on the other hand, can only expect to earn 10% to 12% royalties.
In addition, even though you get a book advance to write your book with traditional publishing, you need to earn back that money before your publisher provides you with royalties.
For example, if you received a $10,000 advance for your book, you would need to sell $10,000 worth of books at your set royalty rate before you can begin to receive royalties.
Let’s compare how much money you can make from writing a book via traditional publishing vs self-publishing.
|Income Per Book Sold||$1.29||$7.79|
|Number of Books Sold||5000||5000|
As you can see, it’s a lot easier to make money self-publishing if you know what you are doing.
Print vs eBooks
When you publish your book, you will need to decide if you want hardbacks, paperbacks, eBooks, or a mix of all three.
For self-published authors, writing eBooks can be very profitable. That’s because compared to traditional print books, eBooks have wider distribution opportunities and lower production costs.
Of course, eBooks generally sell for less than print copies, and the market for published eBooks on Amazon is more competitive. As always, there are pros and cons to each type of format.
To increase your visibility (and your sales), it’s essential to have a solid book marketing plan to promote your book during launch. Again, that's where working with a company like SelfPublishing.com can greatly increase how much money you can make from writing a book.
Book royalties are only the beginning
As you can see, there are a lot of factors that go into how much money you can make from writing a book. But we haven’t even covered the good stuff.
Because when it comes to a book about business, royalties aren’t even the half of it.
Writing about your business success can help you stand out as a professional. It builds your credibility, which means you can raise your rates as an expert in your space.
It also gives you a lot more visibility, which helps you book speaking gigs, maybe even a TED Talk,and become a public figure. This means more sales – not just for your book, but for your business too.
In the future, you can use your book as a lead magnet for service offerings – or even launch a paid course off of it!
So, how much money can you make from writing a book? Basically, when you factor in business growth, a book can contribute to millions in added revenue!
Related Self-Help and Business Book Articles:
Let your book boost your business
We hope by now that you see just how profitable writing a book can be for your business. But it’s understandable if you don't know where to start or worry that you don't have time in the day to write a book.
At selfpublishing.com, we have helped hundreds of authors to become a bestseller, and we can help you, too!
From help with your outline and book cover design, to in-depth editing and proven launch plans with 100+ guaranteed Amazon review, our team can help you through every step of the self-publishing process.
So what are you waiting for? Writing a book may just be your smartest business decision yet.