A Publisher's Conversation with Authors: Passive Income from Book Sales
It is Tuesday. Monday's madness is over, and Wednesday will take us over the hump, so Tuesday it is--for some serious discussion with authors. Tuesday talks mean to address authors in waiting and self-published authors who would like to go a more traditional route or who would at least like to take their steps with a publisher by their side.
Today's post addresses an issue that is a pet peeve: financial advice columns and articles that advise on side hustles to develop passive income, with the case in point being "publishing" books through Amazon. Now, you do want your book on Amazon. We want our books on Amazon. Amazon is a strong source of sales for us. However, this is not really a passive sources of income, one that you sent up once and then sit back and rake in money. The following realities need to be considered to avoid major disappointment.
- Amazon will fulfill orders, but Amazon will not sell your book for you. You need to do your own marketing. Marketing is a perpetual activity, not a one-time activity. Marketing costs money. Sometimes (often for self-published authors), you lose more money than you make.
- If you expect income from your books, people need to know that they exist. Amazon has over 15 million books. How will yours be found among so many? You will need to be actively involved in promoting your book. promotions. If you write Kindle e-books, then you can run promotions, but you must set them up. You can indeed purchase ads through Amazon, but those cost money.
- Any kind of promotion campaign costs money. If you do not have the skill set, you will need to pay for a publicist.
- To get readers talking about (and thereby buying) your book, you need to be actively discussing it on social media, or giving workshops, or interacting with book clubs. This takes a lot of time, and it is definitely an active approach, not passive.
- Those self-published authors I know who have looked to Amazon publication as a source of passive income have found that they sell very, very, very, very few books that way. They must be active, not passive, about generating income. Indeed, some of our authors who thought that they could just write a book and leave all marketing to the publisher have learned the hard way that it does not work this way. They must also be involved. Those who are not simply do not get the sales they have hoped to have.
Bottom line: If you are looking for passive income to supplement your retirement or as an addiction to your regular job, selling a book through Amazon without active (weekly, if not daily) work is not a good option.
See more Publisher Conversations with Authors HERE.
Learn more about publishing from an acquisitions editor -- how to get your book proposal accepted, why proposals are turned down/accepted, and how to find the right publisher for your book. On special sale for $5 while inventory lasts at MSI Press webstore. Also available as an e-book and an audiobook.
The Tuesday talks reflect real discussions between the management of MSI Press LLC and our own authors or those would-be authors who come through our doors but don't make the cut--yet. If you have a topic that you would like addressed, leave the question in the comment section. Chances are, in our 18 years of publishing first-time and experiences authors, we have had a conversation with one of our authors that we can share with you.
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