It's Not About the Royalties

There's more to publishing books than royalties.

In the realm of writing and authorship, it’s easy to get caught up in the allure of royalties and financial success. However, true fulfilment for an author extends far beyond the realm of monetary gains. While royalties are undoubtedly a tangible acknowledgement of a book’s success, the essence of being an author lies in the impact and connection forged with readers.

The journey of writing is a deeply personal and cathartic experience. Authors often pour their souls into crafting narratives that resonate with universal truths, sparking empathy and understanding among diverse audiences. The joy of seeing one’s words come to life, of knowing that your stories have touched the hearts and minds of others, is a reward that transcends the material.

Moreover, the ability to influence and inspire through storytelling is a power that goes beyond the boundaries of financial gain. The enduring impact of an author's words builds their legacy, fostering a sense of shared humanity and leaving an indelible mark on the literary landscape.

While royalties may offer a tangible measure of success, the true essence of being an author lies in the intangible rewards – the connections made, the lives touched, and the lasting impression left on the world through the written word. It’s a journey of passion, expression, and the profound satisfaction of knowing that your stories have found a home in the hearts of readers.

FINANCIAL SUCCESS IN ROYALTIES

Royalties come from many paths to the author. These can vary in percentage and amount depending on the route to market. That could be through Gardner's distribution service to both online and physical stores, or Lightning Source’s print-on-demand service, which also fulfils online and offline orders around the world. The royalty percentage ranges from 5% to 18% for these distribution channels.

Additionally, authors can make bigger profits on their books via author copies printed by a commercial printer or Amazon KDP. Commercially printed author copies yield the greatest profit–70% to 80%.

Sales & Royalties Table

Therefore, if authors use their books to secure speaking events where they encourage the event organiser to buy, say, 100 books for the attendees, then the author will make a faster ROI for any investment.

The same principle applies if authors create workshops or events where they can sell their books more profitably than through distribution channels, which take the lion's share of the RRP of the book.

Finally, authors can use their books as a lead magnet to encourage the reader to join their signature or flagship programme after reading their book. When readers enjoy and benefit from reading a book, they often want to explore how to get more of the author online or offline at events, workshops and programmes. Alternative methods of making money other than through book sales are the quickest way to any ROI from your book, mainly if you are a coach or trainer who can entice your reader to join your £2-5K programme.

The above examples are a few ways to increase your revenue from your book, beyond book sales. These opportunities are why being an author is critical to you as a business owner.

IT’S ABOUT THE BENEFITS OF BEING AN AUTHOR

The allure of being an author begins with how much money you will receive as an advance as a traditionally published author. Next, you may dream about receiving fat royalty cheques once or twice a year. This may be true for the crème de la crème at the top of the author tree, but realistically, for authors who choose to write their book for a more lasting reason, it’s about turning to the bigger picture and the benefits of being an author.

Consider the following five benefits for you as an author, and they may change your perspective on what it means to be an author in today’s world.

1. Creative Expression and Catharsis: Writing allows authors to express their creativity and emotions uniquely and profoundly. It serves as a cathartic outlet, enabling them to explore their thoughts, feelings, and experiences through the art of storytelling. This process fosters personal growth and contributes to the broader cultural and literary landscape.

   
   

2. Intellectual Stimulation and Continuous Learning: The process of researching and crafting a book requires continuous learning. Authors often delve into diverse subjects, acquiring new knowledge and honing their research skills. This intellectual stimulation enriches the author’s understanding of various topics and keeps their mind active and engaged.

   
   

3. Connection with Readers: One of the most rewarding aspects of being an author is connecting with readers. Through their words, authors can inspire, entertain, or provide insights that resonate with people from different walks of life. Building a community of readers who appreciate and connect with an author’s work can be a source of immense satisfaction and fulfilment.

   
   

4. Legacy and Immortality of Ideas: Books have the power to outlive their authors, creating a lasting legacy. Through their written works, authors can contribute to the collective wisdom of humanity, sharing ideas, stories, and perspectives that endure beyond their own lifetimes. The sense of leaving a lasting imprint on the world can be a powerful motivator for many authors.

Professional Opportunities and Recognition: Successful authors enjoy various professional opportunities. These may include speaking engagements, collaboration with other creatives, and participation in literary and business events. Additionally, recognition through awards and accolades can open doors to new ventures, contributing to an author’s standing in the literary, business and cultural spheres.

In summary, being an author offers a myriad of benefits, from personal fulfilment through creative expression to the intellectual stimulation of continuous learning. The ability to connect with readers, leave a lasting legacy, and explore various professional opportunities makes the journey of being an author a rewarding and multifaceted experience.

Book an exploration call to learn more.