I’m often asked: “Can you make money as an indie author?”
Posted by Peter Kazmaier
When people ask me this question, they are usually asking because they or someone they know is active or will be active in writing a book, and they are wondering what to expect. Others ask it because they are skeptical that it is even possible to make money without going through a traditional publisher.
My answer is usually a qualified “yes” it is possible (but certainly not guaranteed) to make money through an indie or as I prefer to call it, a micro-publishing endeavor.
Why the qualification? There are three basic reasons.
Indie or Micro-Publishing is a Small Business Endeavor
The first thing that one has to remember: Micro-Publishing is a small business. Like other small businesses, this means you will likely not be making money out of the starting gate. Rather, like other small business start-ups, you will have to put in long hours with little remuneration, and finally there is significant risk that you will run out of money, patience, or interest before the business begins to pay off. This comes with the territory of starting something you own.
A case in point, many writers that try to find a traditional publisher also spend a great deal of time writing with no remuneration and then attempting to convince a publisher to take on their manuscript (also with no remuneration). This start-up time when taking the traditional route is often excluded from pay-back calculations. The writers who run out of money, patience, or interest choosing this route are ignored leading to a “survivor bias” when comparing traditionally published authors with indie authors.
Many writers augment their early cash flow with writing-related income, for example, editing, free-lance magazine submissions, contract writing for trade journal or instruction manuals. In my own case, since I write Science Fiction, I tutor in physics and chemistry, as well as provide chemistry consulting as a way of staying connected to science.
Indie or Micro-Publishing is an Annuity Business
Secondly, Micro-Publishing is an annuity-driven small business. When you publish your first book, there will be an initial flurry of interest and then slower sales over the long term. Long-term sales depend on how many people hear about your book and hear enough good things to take a chance to buy it. You may also get copyright remuneration or some remuneration for library usage. These long-term sales are your annuity.
The key point: as you write more books, this annuity stream will grow, but often in the initial stages, the up-front costs of writing and publishing more books will grow faster than the annuity stream.
Most Writers Care About the Art as Much or More than They Care About the Business
Finally, writers are artists as well as business-owners. They have a message or art they wish to develop which is often more important to them than the money. I’ve often been told, “If you wrote Science Fiction more like mainstream SF, you would sell more books.” I think that’s true, but I wanted to write Science Fiction that I would like to read but no one else has bothered to write. For me that means I explore worldview, spiritual, and philosophic questions as well as maintaining a strong science component in my novels. Not optimizing only for the money, probably puts one on a slower growth trajectory, but through it I hope to connect with kindred spirits who long for the same kind of story that I seek.
So What Should I Worry About as an Indie Writer?
First, ask yourself what happens if my next book goes viral and hundreds, even thousands of readers want it at once? Can your distribution system handle it? If you only sell personal copies or mail them yourself, the answer is probably “no.” If some other organization handles the sales, then the answer is likely “yes.” In other words, make sure your distribution channel is scalable in case the breakthrough you hope for happens.
Writers are often taught to market aggressively. I won’t do that for two reasons: (1) I don’t want to approach anyone in a way that I would not want to be approached. I don’t like aggressive tactics so I won’t use them. (2) I started to realize that when friends would see me, they would immediately think “I haven’t bought Peter’s book yet.” I don’t want that either. Their friendship is much more important to me than a sale. They need to know that they don’t have to like or buy my books to be my friend. That thought should not even come up.
As a consequence, most of my “advertising” or marketing is low-key on social media, by email signatures, or by magnetic signs on my vehicle. Word of mouth, without my intervention, is still the best form of advertising. Improving my writing craft so that readers will enjoy my books so much that they will give them as gifts or recommend them to friends and family is my long term objective.
3. Things Change Unexpectedly
When I published my first book, it was still possible to use Canada Post to mail books to customers at a reasonable shipping charge. Now so many surcharges, special charges have been added that even with a small-business discount, it can cost me $17.50 to ship one book to a nearby small town. Who can afford to pay that much on a book worth $20-30? the answer is “no one.”
This unexpected change has shut down one potential channel for reaching readers. These kinds of changes that are beyond a writer’s control have a major impact on the business. Like all small businesses, one has to adapt and make sure there are several ways to get your books to your readers.
Above all, keep writing, connect with like-minded readers, and connect with other writers who share your passion to communicate with others and bring a little beauty and inspiration into their lives.
I do not offer publishing, small business, or other financial advice. I offer my own history, observations, and comments up in the hope they will stimulate thinking and discussion.
About Peter KazmaierLover of Fantasy and Science Fiction. Author of the SF series THE HALCYON CYCLE. I frequently re-read my favourite books. http://tinyurl.com/p46woa4
Posted on June 5, 2019, in Essay, Independent (Indie) Authors, Inspiration, Micro-Publishing, Personal Reflection, Peter Kazmaier, Writing and tagged Independent (Indie) Authors, Indie fiction, Micro-Publishing, Traditional Publishing, Writing. Bookmark the permalink. 1 Comment.
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