Here's how much you can make self-publishing your own books

Self-publishing is now easier than ever for authors who don't want to be traditionally published, thanks to platforms like Amazon.

​With increased accessibility and ease of access comes increased competition. So, how much money can self-publishing your book make you? The figure will vary depending on a number of factors discussed below.

So, What Exactly Is Self-Publishing?

Self-publishing means that the author publishes their book without the assistance of a traditional publisher (the famous "Big Five" publishers include Penguin/Random House, Harper Collins, and others). The term "self-published books" typically refers to written media such as books and magazines, whether physical or electronic ( aka, eBooks).

Advantages of Self-Publishing

There are numerous advantages to self-publishing, including:

1. You take control of your own destiny. Instead of waiting to see if a publisher or literary agent is interested in publishing your work, you can move forward with the publishing process.
2. You have complete creative freedom. In the traditional publishing world, your work will be met by a slew of gatekeepers, each with their own take on your content, cover, and even the title of your book. When you self-publish, you have complete control over the process and can hire whoever you want to assist you.
   
3. Another significant advantage is the potential to earn more money due to higher royalty rates. Royalty rates for traditional publishing deals range from 7% to 25%. This figure rises to around 70% for indie authors. That means you could potentially keep a much larger portion of your earnings.

Cons of Self-Publishing

1. Higher initial costs. Traditional publishers will cover the costs of editing, design, printing, and marketing for your book. When you self-publish, you are responsible for all upfront costs. Furthermore, publishing deals frequently include financial advances, whereas self-publishing does not.​
   
2. There is less visibility. You must understand how to reach your target readers, and when you self-publish, you must forge your own path to find them. The resources and visibility provided by large publishing houses increase the likelihood of critical acclaim, literary awards, and your book becoming a bestseller. We're not saying it's impossible; it'll just be a little more difficult, especially if you're just starting out.

What Do Self-Published Authors Earn?

The earnings range for self-published authors varies widely and is primarily determined by the number of books sold. 

Self-published authors can earn up to 60% royalties on a single book sale. This is significantly higher than the 10-12 percent royalties paid to traditionally published authors. 

Furthermore, while self-published authors can publish two to three high-quality books per year, traditionally published authors must wait two to three years to publish a single book.

The earnings of self-published authors vary depending on:

• Annual number of books published
• The number of books that are currently available
• Royalty percentage based on book sales
• Size of the audience
• The book's genre
  
• Following on social media

There are some quick and simple tips and tricks that authors can use to boost their self-published sales. This includes the following:

1. Increasing your social media presence —By increasing your social media presence, you can reach thousands more readers. Use social media to promote your book, connect with readers, and create excitement for new releases.
2. Hire a cover designer — People do, unfortunately, judge a book by its cover. You need an eye-catching cover that clearly conveys your book's message and makes people want to read it.
3. Don't limit yourself to one format — nowadays, readers read on a multiplicity of devices. To meet your readers where they are, publish in a variety of formats, such as eBooks, paperbacks, and audiobooks.