From Royalty Checks to 100% Ownership: The Financial Upside of Self-Publishing

Did you know that about 300 million self-published books are sold annually?

This means that authors are rapidly shifting towards self-publishing.

And why wouldn’t they?

Just think about the years of waiting, multiple rejections, and revisions in the case of traditional routes…they were unfair for every author.

And when the self-publishing market is already worth about $1.25 billion annually, you know there is some real potential.

One great thing, it is not about convenience only!

The earning potential is very high in this field as well, with 28% of the authors reporting six-figure incomes!

Keep reading to know how ownership transforms into long-term wealth and why so many authors are moving towards it.

The Rise Of Self-Publishing Platforms- What Happened?

Remember the times when authors had to secure an agent and wait for months for their royalty checks to arrive?

This is what traditional publishing did to them. Their months of hard work were paid as low as possible, that too after so many delays!

Today, the scenario still exists. You are still asked to,

•  Submit your manuscript
• Find a literary agent
• Connect with a publishing house
•  Wait for acceptance
•  Keep waiting for your royalty checks to arrive someday later.
• But this is not how it works anymore.

The rise of self-publishing platforms and assistance from the best book publishing company in Ireland has significantly changed the landscape for authors.

They can now easily say, Why should I wait for royalty checks when I can have 100% ownership in my hand?

Understanding The Two Methods Of Publishing

Before understanding the financial impact, you need to be clear regarding the basic differences.

Let’s take a look at the basic structure of both models.

This is the first step you will experience in both methods. But here comes the core concern: the money-making opportunities in both. 

Traditional Publishing

Remember the advance the publisher pays you in the traditional method?

They won’t give you royalties until that is fully recovered! This process is called earning out.

This means that if your book fails to generate a sufficient amount, you won’t get to see another dollar.

This is what makes traditional publishing an extremely risky process, with slow waiting times for your royalty statements.

Self-Publishing

Self-publishing works differently. You only need to write a great book, get it refined by a professional, connect with book printing services in Ireland, and you are all set to publish it!

You won’t get any advance, but you can instantly receive money from your first sale.

You can easily control the

•  Approval
• Pricing
• Design
•  Format
•  Marketing strategies

This means that you are in charge of everything.

The money you want to earn, the price you want to set, or the strategies you want to apply, it’s all in your hands now!

The Financial Perks Of Self-Publishing

According to stats, self-publishing authors had a higher income than traditionally published authors.

This publishing methodology has witnessed a rise of 264% in the last 5 years!

Let’s take a look at how self-publishing has blessed the pockets of indie authors.

The Value Of Full Control- More Profits

In the traditional publishing model, you exchange ownership for convenience.

Just for the sake of allowing someone to look after a few steps, the authors had to compromise on a lot of aspects.

Just think about it, you wrote a great story, the ending is perfect, but the readers are still not choosing it.

The reason? Poor marketing efforts or most probably a book cover that isn’t captivating enough.

This is the risk that comes with the traditional publishing method.

Here are the factors that you can have under control with self-publishing.

This extensive control means you can make money the way you want!

Your creative choices will help you select the best option for your book, avail your favourite book cover design services, and boost sales with it.

Moreover, traditional publishers do not allow for making minor changes to your books. For them, what is done is DONE! No more changes!

But things are different with self-publishing. You can easily make changes as per the consumer demand and the market trends.

Good point: You are not restricted to a single format. You can choose to convert your book into multiple formats, including:

• Audiobook
• Video course
• Podcast
• Special edition

You don’t need permission from any external source. You can easily choose what is best for your book.

The Royalties Overview- How Authors Are Earning More

Many authors have this common misconception regarding royalties. They think that connecting with big publishing houses guarantees access to a wider audience.

But when considering the financial scenario, the circumstances are totally different!

Here is what you get with traditional royalties,

The surprise comes when authors realise that these minor percentages are deducted further! The final price is decided after the following elements are deducted from this percentage,

• Discounts
• Publishing costs
• Production and printing
• Distribution and shipping  

Then come the persuasive outcomes from self-publishing methods.

 The royalties on some of the major platforms include,

This major difference is the reason why authors never return to traditional publishing methods! They know the earnings have some great potential.

Long-Term Earning Chances

Publish a book, make money, sales decline, and your earnings stop.

This was the belief of traditional publishers. For them, even your best-selling book will lose its impact with time.

Moreover, some of them also stop the marketing efforts if your book doesn’t get the expected hype.

But with self-publishing? You are not letting that chance go anywhere! The success of your book is in your hands.

You can easily avail every opportunity to make your book a hit every year.

Here is how you can improve it,

• Design new covers
• Change the marketing
• Introduce new languages
• Re-launch your book
• Introduce discounts and deals

With self-publishing, your book has a never-ending shelf life.

It will continue to live and grab attention as long as you focus on creating its value!

Making The Most Out Of “Marketing Is A Must” Scenario

If you are an indie author, traditional publishing will demand some extra marketing efforts as well.

The truth is, publishing houses invest more in bestselling authors or celebrity memoirs. Most of their attention revolves around someone well-known.

In this scenario, indie authors struggle with the marketing of their book. They need to do everything from scratch, including:

• Planning giveaways
• Book launches
• Social media presence
• Networking with industry professionals

Self-publishing offers you a safe option to market and enjoy the profits yourself.

Print On Demand Services That Save Costs

Decades ago, authors had to print an unlimited number of books.

Of course, this printing required high costs, which would only be justified if the book sells.

In case it didn’t, authors had to suffer from the loss of their money.

This is where POD services offered by self-publishing platforms changed everything!

All you need to do is upload your book file, and they will only get printed when someone offers them! This means no risks of unsold inventory.

The Benefits Of International Distribution

Self-publishing comes with the advantage of global distribution. It allows you to maximise your sales by reaching an international audience.

Just by multiple clicks, the following platforms can expand your book’s reach,

• Amazon
• Kobo
•  Apple Books
• Google Play Books
• Barnes and Noble

Just think of it, one reader from America purchases your book, and someone in Dubai downloads the audiobook version.

With self-publishing, you can become an international-level writer from day one!

Wrapping Up

Self-publishing offers the highest level of financial freedom for authors! Traditional publishing might be the ideal choice if you want a stamp of credibility in your work; however, the financial benefits are only possible with the self-publishing platforms. Instead of selling your rights to someone, you can actually protect them and enjoy quick returns and greater profits for your books!