Leave a Comment:
(7) comments
I am in the last 4 days of my campaign and I have loved working with Pubslush! They have kept in regular contact with me – checking in, offering tips, fixing any glitches. They have called and emailed – VP Amanda Barbara actually called me from the Writers Digest Conference in L.A. to give me feedback on my campaign before I launched! They have been prompt, professional, and passionate about my book. They are invested in their authors!
Here’s another reason why authors (especially self-pubbers or indie authors) should consider a crowdfunding campaign: it’s a good litmus test to see how much you’re REALLY willing to work on promoting your book. It’s nothing new that the author is the one who has to hit the pavement and promote their book once it gets published. Well, that’s what you have to do w/ crowdfunding. It’s your job to get folks excited about – not only your book – but YOU as the author, as well. I have watched everyone’s campaign on Pubslush during my 30 days and many of them have remained at $0 or severely stagnant. Only a very few, 3 or 4 of us, have been working it steadily. You have to work it, but it is worth it! Through my rewards, I already have about 100 hard copies and 100 e-books going into the hands of readers this Spring 2014.
One last note, just because it’s timely. Pubslush VP Amanda Barbar, my editor, Amy Quale of Wise Ink Publishing, and I just hosted a Google Hangout 2 days ago “Crowdfunding for Indie Authors.” Here’s the link and I hope you find it helpful. Good luck to you all! http://www.youtube.com/watch?v=t6CFUcUbfKI
ReplyThanks for sharing such great info! So many authors wonder what it’s like when they do take that step. Appreciate you weighing in.
ReplyCrowdfunding is a great resource for writers, but there are a few legal missteps to avoid.
1. Don’t call the contributions “investments.” That triggers securities laws.
2. If you call the contributions donations, do not call them tax-deductible,
3. The contributions are probably taxable income to you. However, if you use the contributions for business-related expenses, then you will have deductions to match.
I wrote a post about these missteps at http://keepingitlegal.blogspot.com/2013/09/crowdfunding-handle-with-care.html
Helen Sedwick
Thanks so much for the tips, Helen.
Yes, they are definitely taxable income, no question. I just attended a crowdfunding panel at the Self Pub Book Expo in NYC last Saturday and they were very specific about that.
It’s a great option for author who are self-pub’d and think they have no other option but to go traditional because of budget limitations. The more personalized and interesting we can make our campaigns, the more funding we can get. I haven’t done it yet, but it’s an interesting and ever-growing option.
Reply[…] Crowdfunding for Self-Publishing Authors by guest Justine Schofield (of @pubslush) […]
Reply[…] Crowdfunding for Self-Publishing Authors by guest Justine Schofield (of @pubslush) (badredheadmedia.com) […]
Replyi have recently finished a book about my childhood called “Shattered Soul”. I believe crowdfunding could be beneficial in the extreme.
Reply