How to earn extra income as a published author: 5 important considerations

Making a side income from your writing can be both exciting and challenging. Whether you choose to publish your work traditionally or self-publish, the process requires more than just a passion for writing. This article covers the key considerations to help you succeed, from the right publishing route and the importance of marketing to realistic financial expectations, brand development, and the non-income benefits of being an author.

1. Choose your path to publication

Getting a book published is one of the biggest challenges any aspiring author faces. The journey from manuscript to print can be intimidating, especially in traditional publishing, where competition is fierce and success rates are low. Literary agents receive thousands of submissions, but only a tiny fraction—about 1 to 2%—are accepted.

Author Lauren E. Todd explains, “Literary agents receive tens of thousands of requests every year. It’s like finding my book in a sea of ​​20,000 submissions. The chances of that are very slim.” This reality can be a bitter pill to swallow for new authors trying to break into the industry.

If the traditional route seems too complicated or restrictive, self-publishing is a great alternative. It lets you bypass the hurdles and get your book directly to readers. It offers more creative freedom, faster publication, and potentially higher profits. However, it also means you’re responsible for everything – from writing to editing to marketing – which can be time-consuming and expensive.

Choosing between these paths depends on your goals and resources. Traditional publishing offers professional recognition and wider distribution, but it is a long and uncertain process. You need a compelling cover letter, a polished manuscript, and thorough research for an agent.

Self-publishing gives you full control and faster access to the market, but it requires a significant investment of time, effort and money in professional editing and design, knowing your target audience and planning your marketing strategy.

2. The importance of marketing

This element is crucial if you want to make money as an author. The days when publishers did all the advertising are over. Now it’s up to you to get your book in front of readers. You need to actively market your work, from creating social media content to running advertising campaigns.

For example, Lauren E. Todd spent $230 on a three-week Instagram advertising campaign despite having a publishing deal and sold 37 copies at her book launch. The bookstore called the event the most successful in years. This shows the power of self-promotion—you can’t rely on others to do it for you.

Here are some strategies to increase the visibility of your book:

• Create an email list: Start collecting email addresses before your book is published to build anticipation and ensure you have an interested audience.
• Collaborate with influencers: Collaborate with bloggers or influencers in your niche to reach a wider audience.
• Host launch events: Whether virtual or on-site, these events can generate buzz and boost initial sales.
• Use ads: If you’re self-publishing, promotional tools like Amazon Ads can help you reach more potential readers.
• Run promotions: Offer limited-time discounts or special offers to encourage early purchases, especially around product launches.

3. Set realistic financial expectations

Many published authors do not make a significant income from their first book. Instead, think of it as a foundation for building an audience and setting the stage for future success. Actual income often comes only after publishing multiple books and continuing to promote them.

Understanding how the money works is crucial. According to Forbes Books, you can earn between 20% and 100% of the sales price per book when self-publishing. With traditional publishing, you can get up to 15% in royalties.

In addition, according to a survey by the Authors Guild, a professional organization for American writers, the average income for all authors is between $2,000 and $5,000, while full-time authors earn up to $20,000 from book sales and similar work. Knowing these numbers will help you set realistic goals.

Remember that a book deal doesn’t guarantee instant money. You’ll need to sell enough copies to recoup your advance before you start receiving royalties. The road to financial success as an author is tough, but it’s rewarding for those who are dedicated and patient.

Be realistic about your earnings. Publishing is more of a marathon than a sprint. Success comes over time with persistence, clever marketing, and a focus on the long-term goal.

4. Developing your author brand

While marketing focuses on driving sales of your book, your brand is about the bigger picture: how readers perceive you in relation to your entire body of work.

Your brand should reflect your unique voice and personality and make you recognizable and identifiable. A strong brand ensures that readers trust you and continue to support your work, making it a crucial part of your success as an author.

Consistency is key. Your message, style and tone should be consistent across different platforms, such as your website, social media or public appearances. It’s also important to actively engage with your audience, as building a connection with readers strengthens your brand and keeps them coming back for more.

5. Other benefits of being a published author

Making money as an author is important, but the non-income rewards from publishing a book can be even more valuable. I would recommend it to anyone trying to build a personal brand.

When I published Raising a LeaderI went from being a nobody to being a somebody almost overnight. I became an expert in my field, which led to speaking engagements, consulting work, and media appearances.

I don’t think I could have used my time better and more effectively to build my personal brand faster than by publishing my book. The time I invested has paid off in ways I couldn’t have imagined. It has opened doors to collaborations and opportunities that provide value far beyond book sales.

Final thoughts

Publishing a book can be a rewarding side income and also open up opportunities that lead to improved financial and professional health. However, you need persistence, a solid marketing plan, and realistic expectations. Remember, success doesn’t come overnight, but is built steadily over time. While the path may be challenging, the reward is worth the effort.