Good News, Bad News

Bad news: your book probably won’t make any money. Good news: it’s still worth writing.

In a lot of cases, making money from your book should be the last reason that you are writing it. It’s damn hard to make money from book sales. You are writing it to gain exposure for yourself, to generate leads, to attract attention, to establish credibility and raise your profile, and to get invitations to work that will bring opportunities to charge fees.

Any book sales are incidental.

Some authors choose to give their books away. Others sell their books on Amazon in case there is a secondary audience who might be interested in reading it, but they give them away to make sure they get into the hands of their primary audience. Others simply sell their book from the outset.

If you are setting a price, don't set it too low. It needs to suggest the truth, which is that is a serious work with serious value for people. If it's a very arcane subject in a high-revenue industry such as the law, charge the going rate. You’re entitled to charge for your knowledge because knowledge is the commodity you have to trade … but you still have to decide whether the main purpose of your book is to try and make money or whether the main purpose of your book is to try and attract attention.

Lots of people might buy your book and you might make some money and that's great, but if those aren't the people you want to read the book, or if they buy the book and don't read it, then it's a complete waste of time.

It’s far better to get the book into the hands of the people you want to read it, which is those who will act on. That’s why most authors use marketers and other experts to get their book in front of the right eyes. A good ghostwriter or book coach will be happy to point you to the best people to help.