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I think people severely, severely underestimate the amount you can make self-publishing. I blame it on traditional publishing companies and old habits. My mom
by austenallred 10y ago
I think people severely, severely underestimate the amount you can make self-publishing.
I blame it on traditional publishing companies and old habits. My mom was a book editor, and the very best authors they published would sell 10,000 books. Their cut was something like $2/book, they'd pull in $20k.
So when I decided to write a book on growth hacking (https://www.secretsaucenow.com https://www.secretsaucenow.com), I decided to self-publish. This was more difficult, I had to find an editor and pay them, had to market it myself, etc. Luckily I'm pretty good at the marketing part (hence the book) and I found old contacts of my mom's to edit, but we launched on Kickstarter, so I figured if it flopped I would know in advance.
We sold $66,000 on Kickstarter, then went on to sell another $44,000 on Indiegogo while we finished it up.
Since then we've sold around $20,000 on gumroad. In total it's something like 2,000 copies (though we charge a lot more per copy than most book publishers do, and that keeps us out of Amazon, etc.)
If I had a publishing deal I would make about $5,000 from that. But because I self-published I took home $130,000 minus costs and fees, so we'll conservatively say $100,000.
Now I sit back and check gumroad a couple times a day; I average $800 in sales per day, and almost make more from the book than I do from my (well-paying) full-time job. If I can keep this rate up I will replace my salary (or, rather, double it)
- nateberkopec 10y agoCongrats. Do you pull anything in from Gumroad Discover? I think I've made ~$4k from them in the last year, which is not a huge part of my sales, but of course more than makes up for the $10/month for Gumroad Premium (or whatever they call it).
- austenallred 10y agoJust checked my stats. 7 sales for an average of around $60/sale (we've been on gumroad for a little over a week). So definitely more than paying for gumroad (not even factoring the time it saves me in integrating a Stripe account with downloads), though I think if someone buys the book and shares that they did Gumroad counts that as a "Gumroad" sale. Whether it is or not is disputable in my mind.
- partycoder 10y agoSounds interesting. How does it work tax-wise?
- nateberkopec 10y agoGumroad doesn't even send 1099's, like Amazon does for Kindle authors. I am not an accountant, but I believe it's just gross receipts on your Schedule C.
- partycoder 10y agoIf you make over $400 in income from book sales you need to take that income and apply self-employment tax on that income. In addition you need to make quarterly payments for the estimated tax. If you haven't done so yet. To fix your situation you can file an amended return. A CPA can do it for you... given your income, you should be able to afford it. As your income grows so it does the likeliness of being audited. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center https://www.irs.gov/businesses/small-businesses-self-employe... Now that you have published your story, your real name and the income you obtained I strongly suggest to do it ASAP.
- nateberkopec 10y agoThanks! Yeah I mean it's not that different from my freelancing. I've been paying estimated tax and self-employment tax for years. Mostly now it's about selling products (example: I have to deal with New Mexico gross receipts tax, ugh) vs services.
- pc86 10y agoYou only need to make quarterly payments if you meet certain criteria, largely if the revenue is above a certain amount and you have a reasonable expectation the revenue will continue.
- angelbob 10y agoI got a 1099-K from Gumroad this year, as did my wife. I think they're changing that.
- notadoc 10y agoInteresting story, good for you. Did you initially market the book through your network and by blasting it all over social media or did you pay for advertising?
- austenallred 10y agoI definitely have a following, as does my co-author but most of the sales came from giving away (or publishing) chapters and linking back. To this day our number one driver of sales is people who have read our blog posts about how to get press or how to do SEO, because it's actually actionable stuff.
- notadoc 10y agoSo you contacted marketing oriented sites and offered them free chapters to publish in exchange for the book publicity? I suppose that's often what you see in newspapers when you read a short excerpt or short story based on a book, must be reasonably effective?
- austenallred 10y agoNah, I just posted on Reddit and Medium as blog posts, that kind of thing. Honestly I have an entire 196-page book of marketing strategies I actively use, so... you know.
- polysaturate 10y agoI can attest to this strategy working, albeit on a much smaller scale with my presale right now. Smaller price point, assuming much less traffic on the medium posts. Hell, I have more revenue in presales in a little over 6 weeks than 18 months of trying to build SaaS apps.
- idiot_stick 10y ago>Now I sit back and check gumroad a couple times a day; I average $800 in sales per day This is great, but it's also a single anecdote. Clearly there are people for whom it works out. The real test is whether you, or someone using your identical methodology, can repeat it.
- nathanbarry 10y agoI've had 50+ similar stories end up in my inbox. So I agree that these stories are a lot more common than people think.
- xiaoma 10y agoPerhaps, but how many copies of your book Authority have you sold? 50 success stories is a tiny fraction compared to the number who have bought a high-price book targeted at ebook authors. Then, when you consider the hundreds of thousands or millions of people who tried selling ebooks without buying your book to help them, it's clear that the OP had very atypical results.
- austenallred 10y agoDefinitely, but I've talked to a half dozen other authors who self-published and made a grundle. Especially if you either find a niche technology with bad documentation or a widespread technology with a bad problem, there's a lot of cash in it. I think the Meteor.js authors talked about pulling in $500k
- dkersten 10y agobut I've talked to a half dozen other authors As the saying goes, the plural of anecdote isn't data. I think the point here is that it's very much dependent on the niche and that your and other successful authors are atypical and doing better than most self published authors. Whether or not that's true, I don't know. Maybe you are completely right. But we won't know from some anecdotes.
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- faet 10y ago>I think people severely, severely underestimate the amount you can make self-publishing. You're results are fairly atypical, but I think a lot of it heavily depends on the niche you publish under as well. I have friends that self publish romance books and they sell for ~$3-5. If they make 10k in a year they're happy. People see value in a $40 technical book over a typical novel. A survey I saw recently had the median income for unagented authors at around $7k/yr for non-technical genres.
- austenallred 10y agoYeah, technical & business-oriented books are a quite a bit different. Romance novels is a very different world.
- TheOtherHobbes 10y agoThere are writers making millions self-publishing romance novels. (Not many make millions, but the number who work full-time and earn more than they would in a day job is not small.) The Romance Writers of America industry group has always been well ahead of the curve on self-pub - ironically further ahead than the Science Fiction and Fantasy industry group. The big problem with self-pub is marketing and audience building. (Fifty Shades started as a marketing exercise, written by a professional marketer.) Most self-pub has similar problems, including tech self-pub. Publishers used to do the marketing for writers. Now they expect writers to do it. Most writers have worked out that if they're going to do the marketing anyway, giving up more than 80% of the income in return for an initial advance may not be a great deal. Unfortunately marketing is hard, and not many people are good at it. Especially writers, who tend to think all they have to do is put the book up on Amazon, mention it on Facebook, and wait. So the intersection of "can write", "can market", and "can finish a book and not just think about writing one" is a tiny percentage of the total aspiring author demographic.
- fencepost 10y ago> Fifty Shades started as a marketing exercise, written by a professional marketer. Really? I thought Fifty Shades started as a porny fanfic of the Sparkly Vampire book(s?), and a variety of sources (via Wikipedia) seem to back that up with references going back to before it was published.
- wyldfire 10y ago> I think people severely, severely underestimate the amount you can make self-publishing. I think you really should qualify this for the sake of all of us amateur writers out there. I would've said "people severely, severely overestimate the amount you can make self-publishing." Most of us don't have a book idea worth writing about or are really bad at writing, or both. It's also really hard for a lot of us to realize which group we're in. You say "I raked in $TONS for a $40 non-fiction book that helps folks with business development" but I think the rest of us should recognize those details when we see your numbers. If I want to write a book about the subtle great things about unit tests, python, or the great American novel, I should tread with caution. My boring story will probably not make $TONS. > very best authors they published would sell 10,000 books. Their cut was something like $2/book, they'd pull in $20k. This is a more interesting part of your post, and worth highlighting. Self-publishing can net you a LOT more than working with a publisher. But for sure you've got to start with an idea that people think is worth buying.
- austenallred 10y agoThe most important part of self-publishing is finding the right niche. Basically: You want to find a niche where people need what you're selling, and charge a lot for it.
- mooreds 10y ago> You want to find a niche where people need what you're selling, and charge a lot for it. And (see my other comment) where you want to stick around.
- mooreds 10y agoI made ~$500 on my book about a niche tool for a niche product: http://www.mooreds.com/wordpress/archives/1339 http://www.mooreds.com/wordpress/archives/1339 And then I never revised it because I was sick of the tech, and had moved on. Still glad I did it, but I'd spend a lot of time thinking about the product category before I'd write another book.
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- thewhitetulip 10y agoGranted that I haven't made a fraction of money that you have made, but my self published book from leanpub has sold around 35-40 paid copies. link: https://leanpub.com/antitextbookGo/ https://leanpub.com/antitextbookGo/ I intentionally didn't want to keep the price high, hence the low % of paid purchases, plus the book is FOSS. That said, I totally agree that self publishing is not held in high regard by most, even on HN I was told that "it's a guide" and not a book and when you mention it on you resume, the interviewer would expect a real book in a real store! _If_ you hit the right niche, there is a lot of money in self publishing, that's for sure.
- munificent 10y ago> I think people severely, severely underestimate the amount you can make self-publishing. I agree completely if we're talking about self-publishing technical books. For fiction, my impression is that it's a whole other ballgame. But, yes, I've been completely blown away too by how well my self-published book did. It really was a life changing experience.
- stephancoral 10y agoWhat was your book on? Can you speak about it?
- ingve 10y agoBob wrote (the very excellent!) Game Programming Patterns [0]. Lots more info in [1], [2], [3] [0] http://gameprogrammingpatterns.com/ http://gameprogrammingpatterns.com/ [1] http://journal.stuffwithstuff.com/2014/11/20/how-my-book-launch-went/ http://journal.stuffwithstuff.com/2014/11/20/how-my-book-lau... [2] http://journal.stuffwithstuff.com/2014/11/03/bringing-my-web-book-to-print-and-ebook/ http://journal.stuffwithstuff.com/2014/11/03/bringing-my-web... [3] http://journal.stuffwithstuff.com/2014/04/22/zero-to-95688-how-i-wrote-game-programming-patterns/ http://journal.stuffwithstuff.com/2014/04/22/zero-to-95688-h...
- munificent 10y agoYup! It went so well I'm writing a second book now: http://www.craftinginterpreters.com/ http://www.craftinginterpreters.com/
- danso 10y agoI'm a long ways from the days when I got into programming because I thought I wanted to be a gamedev but I'm buying Game Programming Patterns just based on how impressed your current book is right now. I'm about to start writing myself and was planning to use Sphinx. Not sure if you're actually using Sphinx for your site, but your design is exactly what I would want for mine.
- elastic_church 10y agoPeople severely, severely underestimate the amount you can make doing it yourself versus giving a cut to investors ftfy People enamored with the literary arts often don't have a marketable skill that would allow the freedom to pursue a book without an advance and outside capital/support. Good to see Kickstarter has helped change that.
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- yitchelle 10y agoThis is great advice. The biggest take away for me is that you are able to market it. Without any marketing, the book will most likely flop. I wrote and published on Leanpub, (https://leanpub.com/successfulunittest https://leanpub.com/successfulunittest). My marketing was not good enough as I am not that good at it. I only managed to sell about 10 books. In my next book, I would build up the audience as mentioned in the linked article. Congrats on the success now and in the future.
- hackits 10y agoJust a outsider note, I've never heard about your book before now or like I say `It popped into existence`. I had a look at the url you posted. Although I couldn't find a sample of your book, let alone a couple of pages to judge it's quality or value. The table of content's was straight forward but lacking any substance. Maybe consider allow downloading a sample number of chapters?
- hgdfjd 10y agoAgreed, and I would suggest that the fact that the title sound is ungrammatical ("Guide to Successful Unit Test"? Not, "Unit Testing"?) and there is at least one typo in the description. That kills it for me.
- yitchelle 10y agoThanks to you and hackits for the feedback. I will take these two suggestions on board.
- hackits 10y agoLet me know when you have a sample up would love to take a look at it.
- yitchelle 10y agoHey, just updated my book[0] at Leanpub with a book sample up. I have sampled the introduction and a chapter on tools. Any feedback would be great! [0] - https://leanpub.com/successfulunittest https://leanpub.com/successfulunittest
- LordKano 10y agoThat's fantastic. I'm considering self-publishing a fiction work that I'm working on as a hobby. It would be nice to turn my passion into a source of income.
- kilroy123 10y agoYou're talking about _marketing_ not really writing a book. Just like with software, you can build the most amazing tool or product in the world. No one is going to buy it without marketing it. Same with a book, it's all about the marketing.
- aswanson 10y agoMy brother has a book that I think could be adapted to Netflix, etc. He's self publishing. What do you recommend I can do to help him. Here's his book: https://www.amazon.com/Death-Will-Seize-Doctor-Too-ebook/dp/B00KMH23CY/ref=sr_1_1?ie=UTF8&qid=1489633243&sr=8-1&keywords=jeremiah+swanson https://www.amazon.com/Death-Will-Seize-Doctor-Too-ebook/dp/...
- jd49 10y agoplease don't turn this into a "the warrior forum" full of advertisements for products that about earning money, or "growth".
- jamesknelson 10y agoThis is really encouraging. The one thing that I'm not sure how I'd go about though is finding an editor. How did you go about that?
- jordanmoconnor 10y agoThank you for writing this book. I bought it a few weeks ago and it has been so helpful!
- sahillavingia 10y agoGumroad founder here. Just wanted to say: AWESOME! And if you have any questions/concerns/feedback good or bad (you or anyone else reading this), I'm at sahil@gumroad.com. Glad you're finding value in what we've built.