November is known for NaNoWriMo, a time when many writers get a jump start on their self-publishing journey. Inspired by Pauline’s pledge to write 50,000 words for NaNoWriMo, I, too, relish this annual challenge. Pauline’s approach isn’t aimed at creating a novel, but NaNoWriMo is still an excellent chance for aspiring self-published authors and a great income opportunity for bloggers.
How Much Can You Make Self-Publishing?
The returns from self-publishing can vary. Digital Book World notes that half of all self-published authors earn less than $5,000 annually. After publishing my first book in March 2015, I now have eight books on topics like investing, crowdfunding, and passive income. On average, I make about $200 per book each month, totaling over $15,500 through October, with projections to reach $3,000 monthly with next year’s additions. While it won’t make you rich, it’s a decent income stream considering each book’s cost is relatively low.
Self-publishing has many upsides. It’s a passive source of income—after the initial promotion, the books continue to sell with minimal effort. For bloggers, self-publishing is a natural extension since they already generate content and build expertise. The strategy I’ll share makes it even easier for bloggers to publish their books.
The Process of Writing and Publishing Your Book
First, don’t stress about perfection. Focus on picking a topic, outlining chapter ideas, and writing. The real value lies in creating the content, not necessarily in formatting or designing the book yourself. There are plenty of freelancers available to help with that. Two types of editing are crucial: developmental editing (ensuring the content flows logically) and proof editing (catching grammar mistakes). Friends and family can often help initially, but hiring an editor may be necessary as you publish more books.
The success of your book heavily relies on its launch. Encouraging reviews and purchases in the first couple of weeks can help your book gain traction on Amazon. Reach out personally to friends and family about a month ahead to ask for their support. Craft a compelling description for your book on Amazon, treating it like a blog post with clear sections and a narrative.
A Self-Publishing Strategy that Makes It Easy
Here’s a streamlined approach for bloggers looking to self-publish. Start by brainstorming book ideas based on popular or enjoyable posts you’ve written. Break down the topic into 10 to 20 chapter ideas. Research similar books on Amazon to refine your chapter list. Once you finalize around 10 chapters, each chapter doubles as a detailed blog post of at least 3,000 words, complete with images.
After writing the posts, compile them into a single document, update them, and add necessary book elements like a table of contents and summary chapter. This method makes the process manageable and turns your blog into a marketing tool for the book. The blog posts will attract visitors searching for related content, who will then see your book recommendation.
Among various home-based income strategies I’ve explored, from blogging to freelancing, self-publishing remains the most straightforward and passive way to earn monthly income. It might not bring instant wealth, but with dedication, you can develop a reliable income stream. For bloggers, self-publishing fits naturally and provides a way to monetize the vast content already being created.
Joseph Hogue, CFA, is an investment analyst and blogger managing six websites on finance and money-making topics. A Marine Corps veteran, he holds the Chartered Financial Analyst (CFA) designation and resides in Medellin, Colombia.