Three parts to success

Many people still desire to author a book. Yet, more people are questioning the profitability of an author’s career nowadays.

The truth is that most authors will not sell more than 500 books. Typically, their book stops selling after their family and friends have already bought it. The reality is that many authors do not have a following, which will halt the sales of their book.

An engaged following is crucial to the success of an author’s book. Although, if your book does not sell 5,000 copies, it does not mean that you should surrender as a failure.

This is why the author needs to become entrepreneurial if they want long-term success. Once the author starts thinking like an entrepreneur, he/she eventually becomes an authorpreneur.

There are three paths that you should consider to become a successful authorpreneur. There is a path for everybody. The sensible way is to choose the path that falls within your capacity.

1. Traditional publisher.

Many people desire a traditional publisher because of their international distribution in physical bookstores.
It can be even more important if your intent is to target an American or German audience.

Ninety-two percent of American university students and 95 percent of German students prefer print books over ebooks, as discovered in a recent international study.

This study is quite encouraging if your plan is to get your book in all the big box stores, airports, and major bookstores. Although, it is worth noting that traditional publishers will not do a lot of marketing for your book. However, their network of connections can open up an abundant amount of opportunities for you. With those connections, you can partner with some cool organizations like Habitat for Humanity, Amtrak and JetBlue.

It is these partnerships that can help you sell more books and attract potential clients.

2. Independent publisher.

More people are learning that they can make more money with their books elsewhere. Some aspiring and struggling authors do not care about the fame, but rather on making a sustainable living as an author.

Independent publishers offer an advantage -- better terms. They do not offer the typical terms that you will get from a traditional publisher (10 percent royalty for print books and 25 percent royalty for ebooks and audiobooks).

Independent publishers also offer the convenience of allowing you to keep the rights to your book. Often, with a traditional publisher, you commit to an agreement for a duration of five to seven years.

The only potential disadvantage that may dissuade authors is the book advance. Some independent publishers offer a small book advance, usually between $2,000 to $5,000. However, some others will not offer any book advance, especially if they are a small press or new publisher.

As an indie author, you will make more money from your books, but you will not have the privilege of leveraging a major publisher’s connections. While your indie publisher may have a network of connections, it is likely that it will not be enough for you to be dependent on them

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Source: ENTREPRENEUR