As I’ve been going through the business side of writing my second book, I’ve faced a continuous struggle. Self-publishing is a money pit. You can spend as much money as you want to create the final product. That includes decisions regarding trim size and printing, book cover design, editing/editors, beta readers, and other various services.
And that doesn’t even include the software you might use to write, edit, research, share, or collaborate.
The Conundrum
Here are the thoughts that rattle in my brain:
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I can get a book cover from Fiverr for $40. But the professionals on Reedsy are making better, more marketable book covers for $500.
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I can use software to get developmental feedback on my writing. But the professionals on Reedsy have worked on books that I love, and they’re charging $3000.
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I can share my book with family and friends for feedback. But the beta readers I hire will probably give more honest and valuable feedback.
There’s always some reason (and plenty of opportunity) to spend more money.
Which begs the question:
How much should you spend on your book?
It should be a simple question, right? I think most people will fall into a few different camps.
As Much As It Takes
If you’re of the mindset that the final product is art, then you might say that the final product should be as great as you can make it.
That means working with the best editors, the best cover designers, whatever it takes. To put this in perspective, I’ve received quotes from Reedsy for book covers costing over $1000. And this isn’t a one-off thing. I’ve received MULTIPLE quotes for book covers over that amount.
I’ve received developmental editor quotes for upwards of $3000.
I’ve also had friends–less experienced in the industry–be taken advantage of by services claiming to help you do all this. And every week there’s another thing to pay for. Global rights. Copyright filing. A dozen other things.
And once it’s published, you’ve got another chance to invest in marketing.
But that’s a conversation for another day.
Not all of us can afford to spend like that. Even when trying to make something that’ll eventually make money. When the modern profit margins can be as little as $3 per sale, making money on your book is hard enough as it is.
As Little As Possible
If you see your book as a product, then the business-minded of you might think you should spend as little as you can in order to make as much profit as you can. If you can lower the cost spent on your book, you can more quickly make a profit.
With the self-publishing tools provided by services like Amazon, you can get away with spending very little money. Tools like ProWritingAid and AutoCrit can provide developmental editing and copy editing. They don’t replace human editors, but these services get you pretty close for way less money.
Publishing through Amazon and using their KDP exclusive tools requires no investment at all. Amazon has made it so accessible to publish your book (whether that’s good or bad, I don’t know) that it’s hard not to choose to publish with them.
But at the end of it all, your book is available to readers forever. And as someone who takes pride in their work, are you okay with publishing something that you could have made better? Something with more thought, fewer errors, higher polish, and a better cover?
The Goldilocks Middle
So what should you spend money on and what shouldn’t you spend money on? The big hitters are the most important. Now, I’ll start this section off with something rather depressing.
The content of your book doesn’t matter if readers don’t read it.
OOF THAT HURTS
I know. But it’s a good starting point for deciding where to spend. It all boils down to marketing.
You should absolutely spend money on a book cover. Don’t judge a book by its cover? We all do. And more eyes will see your book cover than will see the book description. Your cover and description are your marketing package.
You should absolutely spend money on marketing your book. Advertising your book on whatever platforms you think most important. In fact, this should be one of your biggest expenses. It turns out one of the hardest things is getting your book into the hands of readers.
Following that, you can then decide whether to spend money on improving the content of the book.
Go for writing software that gives you instant results. ProWritingAid is my software of choice. I use it to correct grammar, improve prose, get story-level feedback, and more. Besides, there’s a lifetime deal, so I don’t have to keep paying. I paid for it once, and it’s been helping me write better for years.
Try ProWritingAid with this link to support the channel.
Why do I recommend software before I recommend working with human editors? Human editors will of course give you better feedback. And you’ll learn a lot about your writing through working with them. But, ProWritingAid cost me $400 five years ago and will help me on every future project.
A human editor will cost me $3000 for each project. And the price scales with the length of the story.
After you get the right tools, think about working with the professionals.
Final Thoughts
Writing a book is just the beginning. There’s tons more work to do to share your book. The best way to learn the other half of Book Business is by doing it. Go for it. You don’t know what you don’t know, and only by going through the process myself have I learned the lessons I needed to learn.
Maybe the biggest lesson is that it’s really hard to make a profit on your writing. The time it takes to create a book, the money it takes to make it look and feel professional, and the small profit margins mean that writing books is not easy money.
It’s work. You are making a product to share with the world. And, by the sheer nature of bookselling, you are competing with all the other authors creating great books.