How Much Can Indie Authors Realistically Make? with guest @LizSchulte
Hello. My name is Liz Schulte and I am a self-published author of mystery and paranormal romance. I recently read Rachel’s article about what a self-published writer can realistically make. I have been publishing for around three years and this past year (in June) I became a full-time writer.
I find when I tell people that they tend to think it is because I am married and have another means of support, but that isn’t true. I am single, I have mortgage, and I have two dogs. I am living on my writing income 100%.
Rachel asked me to share with you guys my story about my journey to being a full-time writer. I have been thinking a lot about this, and I think the best way is to first explain a few misconceptions I had and I see other new writers coming into this with, and then I will hit you with my numbers for all three years.
- So-and-so author did it this way, so it will work exactly the same for me. False. It is important to remember that everyone’s story in self-publishing or any form of publishing is different. What works for one person may not work for others. It is always good to research and know what others are doing, but if it doesn’t impact your sales, try something different. Find your market.
- One book will make me rich. False. Very few people release one book and skyrocket to fame and glory. Very few writers will ever skyrocket to fame and glory. Yes, some do it, but most don’t. Look at any artist industry: music, acting, art, etc. There are three types of people: the elite standouts, people who make a living, and the rest (the majority) who work day jobs. It is the reality of the industry. Making your place in this industry is hard work. It isn’t a 9-5 job. I work all day and most nights every single day of the week. All other aspects of my life have suffered in order for me to get here. It takes dedication and determination beyond anything your non-writer (muggles) friends and family will think is reasonable.
- I am an excellent writer and I don’t need to hone my craft. (This one is going to hurt.) False. It is great to have confidence, but no one’s first book is ever their best—nor should it be. Everyone needs an editor, and everyone should continue to study and grow as a writer. If you are not willing to do those two things, you probably aren’t going to last very long.
Now for the numbers.
**Note: All numbers are before taxes, and I always have travel, conference, and professional membership expenses, but I do not consider them a must-have for publication so I am not including them here.**
2011: 2 Books published – Earnings- $462.67; Expenses (advertising and production) – $2,591.13 NET LOSS
2012: 3 Books published and one short story (total of 5 books and a short story for sale) – $61,102; Expenses (advertising and production) – $8,916.39
2013 (so far): 4 Books published (total of 9 books and a short story for sale) – $100,987.24; Expenses (advertising and production) – $9,111.56
These numbers probably lead you to a few questions. What are “production costs”? How do I advertise? And what changed between year one and year two?
- Production costs. Included in this are cover, editing, and formatting. A breakdown of my expenses in this category looks something like this: copy editor – $2.50 per page (250 words per page), proofreader – $1.00-1.25 per page (250 words per page), cover design (all formats) – $50-150, and formatting (all formats) – $70-100. These are the essential things you have to do to publish a book.
- Advertising. The truth to this is that I try everything at least once. Some work for me and some don’t. I have had the best success with Pixel of Ink (free), Bookbub (paid), and Ereader News Today (free and paid). Blog tours are great for growing a fan base and improving your SEO, but I have never noticed a huge jump in sales from them.
- The majority of the money I made in year two was made toward the end of the year. The factor that changed was that I published the third book in a series and made the first book free then ran ads with the three places mentioned above. It gave my books and series the boost they needed to get noticed. I don’t recommend using free books or having sales when you only have one or two books out. It is best to wait until you have multiple books so you get more bang for your buck.
- More than anything—and I cannot stress this enough—write more books. Stop stalking your sales, returns, ranking, and reviews and write.
About the Author:
Many authors claim to have known their calling from a young age. Liz Schulte, however, didn’t always want to be an author. In fact, she had no clue. Liz wanted to be a veterinarian, then she wanted to be a lawyer, then she wanted to be a criminal profiler. In a valiant effort to keep from becoming Walter Mitty, Liz put pen to paper and began writing her first novel. It was at that moment she realized this is what she was meant to do. As a scribe she could be all of those things and so much more.
When Liz isn’t writing or on social networks she is inflicting movie quotes and trivia on people, reading, traveling, and hanging out with friends and family. Liz is a Midwest girl through and through, though she would be perfectly happy never having to shovel her driveway again. She has a love for all things spooky, supernatural, and snarky. Her favorite authors range from Edgar Allen Poe to Joseph Heller to Jane Austen to Jim Butcher and everything in between.
Easy Bake Coven:
For Selene Warren being a witch is no big deal. She dabbles in harmless magic with her friends and never thinks much about it. However, when a stranger who seems to know her shows up at her studio and her grandmother is brutally attacked, her simple life becomes complicated.
A world of elves, half-elves, fae—and one peculiar Sekhmet named Femi open up to her. She will discover that fairy tales are real, politics are ugly in any world, and there is a lot more to her life than she ever dreamed possible.
This new reality threatens swallow Selene whole, but with a forgotten past beating down her door, she will have to dive in to save her future.