The truth about self-publishing is simple: it’s hard work, and it can cost a lot of money. What’s the advantage? You, the author, maintains absolute control over every element of your story, book, and marketing. If you know what you’re doing, this is a good thing. If you don’t know what you’re doing, this can be overwhelming but not impossible. Let’s break it down.
- Write the novel
- Revise the book
- Beta readers
The first two parts you do on your own, and #2 you might do multiple times. Once you’ve done that, then do #3 on your own, and again you might do this multiple times before moving on to #4 where you allow other people to read it and give you feedback. Once you get that feedback, you go back into the story, revise and self-edit accordingly, and then you send it on to an editor who checks for any errors. Once you’ve fixed your manuscript based on what they found, you send it to a proofreader, who looks for anything out of place.
When that is done and you have once more edited your novel, you can begin the formatting process or you can send it to someone to format for you. Around the same time, you’d want to contact your graphic artist to begin a cover for your book.
Once the book is formatted and the cover is completed, you are ready to send it to whichever self-publishing venue you wish. And then the promotional stage really kicks off although even before this, you should have already begun building your fanbase through Author Facebook Page and any other social media means you wish to use. You can find more of that topic in the post discussing ‘The Etiquette to Self-Promotion’.
Now though, let’s discuss costs, breaking it down in the steps above:
- Write the novel: free
- Revise the book: free
- Self-edit: free
- Beta readers: free
- Revise: free
- Edit/proofread: $100-$700, depending on the length of your novel
- Format: $50-$100 (sometimes more)
- Bookcover: $80-$400, depending on the artist
- Publish: free-$$$$, depending on the publisher you use. Kindle Direct is free. Draft2Digital is free, CreateSpace is free although it is about $10 for a proof of your book, which you look over for any errors before publication. WARNING: avoid any publisher that requires you pay a few hundred or a few thousand dollars for them to publish it. You will not have absolute control over your book. They may offer to help you promote it, but usually it’s not worth it.
- Promote: free-$$$$, depending on what you use. Word-of-mouth is free. Posting on Facebook and Twitter and on your blog and website is all free. Using Thunderclap and HeadTalker campaigns are free. Paying for ads on Facebook or Twitter costs. Some sites will promote your book (especially if it’s at a discounted price lis $0.99 or free) for anything from $5 to $15 all the way up to $200—depending on which site you use and which package you use. Other sites can cost up to $3,000 or so because they take promotions to a much bigger level. I wouldn’t recommend those unless your budget can handle that expense.
- Reviewers: free—$$. First, let’s note that you should never pay someone to leave a review. Never buy reviews! Why does it cost at all then? It’s simple really, but let me explain why it could be free first. If friends or family agree to review the book for you, you can send them a free copy of your ebook. This is entirely free but with the understanding that they will leave a review. If you have to send them a copy of your book, there is the cost of shipping to take into consideration, which can be about $3-$20, depending on where you’re sending it. Now, some sites offer review services, and they charge about $15-$40 depending on the package you get. However, with this, you must understand, you are not paying the reviewers for their reviews. You are paying the business, which has bought together and organized all these reviewers and will send your book to them instead of you having to do it all yourself, for the service. There is a difference. Please keep that in mind. You want honest reviews. If you pay for reviews and the person doesn’t even read the book, Amazon can crack down on that, and that will have dire consequences for you.
- Copies of Your Book: $10-$$$ This depends on how many pages your book is and how many books you purchase in a bulk. You will get an author discount, but then there is shipping as well. All of this are expenses to keep in mind.
- Author Swag/Merchandise: $5-$$$ Bookmarks, business cards, magnets, keychains, charms, gift cards, pens, notebooks—basically anything you sell or give away in order to draw more interest to your book. The big secret is, as a self-published author, if you want any swag made, you need to put in the time and money to have it made. You can use sites such as Vistaprint for bookmarks, business cards, and a few other stuff, but then you can check out Fiverr or Etsy for unique ideas. All of this is more money out of pocket.
Of course none of this mentions the expense of travel should you decide to do a book tour or attend conventions in order to sell your book. Publishing and selling a book can become quite expensive, but this is why it is important to budget. If you have a good handle on the finances, you will come to see what works for you and what doesn’t, and when it’s time to promote again, you can put into action only what you have determined benefited you.