Make a Living Writing Books: Building Multiple Income Streams for Authors

YOU ARE READING: Make a Living Writing Books: Building Multiple Income Streams for Authors AT PhebinhvanhocEN

earning a living writing is 100% possible and more so now than ever… you just have to know how to get there.

“If my doctor told me I only had six minutes to live, I wouldn’t worry. I would type a little faster.”— isaac asimov

You are reading: Write books for a living

It’s every writer’s dream: to make a living writing the kind of books you love to read.

but can you really earn income if you self-publish a book? is it realistic?

This is how you make a living writing:

Is it possible to write for a living?
Find out why authors fail to write for a living
Build your authoring platform
scale assets and multiple revenue streams
use the “multi-book model”
expand your book formats
scale revenue streams
build an email list of enthusiastic fans
become a full-time author

You may have heard that most writers (self-published and traditional) are starving artists who never make more than $1,000 a year.

The stories are true. many writers starve. but many sell a lot of books and do very well, if they stick to their guns and build multiple streams of income.

I’ll remove this right now. writing a book is hard work. creating a sustainable platform with multiple revenue streams is more difficult. but, if this were easy, everyone would be doing it.

Making a living from your writing is definitely worth it, and as a writer who wants to make money online with your craft, it is one of the most rewarding achievements you will experience in the desktop publishing business.

If you’re an aspiring writer, or have already published and want to expand your book business, find writing jobs, land some writing grants, or even write for online publications, let’s dive into how to turn your words into income! yes, it can be done!).

I don’t know what hungry authors are doing but, in this post, I’ll show you how to make a living writing books by creating multiple streams of income.

You will see that it is definitely possible.

You can become the top 10% who make money from your books and write from starbucks, the beach, or that cabin in the woods everyone is talking about.

earning a living as a writer is possible

Before the internet became a thing, the journey of a writer was a long and often frustrating profession, guaranteeing nothing even after years of committed writing.

You’ve heard the stories of famous authors getting rejected several times before being published.

Gone with the Wind by Margaret Mitchell—Rejected 38 times before it was published.
Zen and the Art of Motorcycle Maintenance by Robert M. pirsig—rejected 121 times before it was published
agatha christie had to wait four years before being published, and today she is the most translated author in the world!
dune by frank herbert—rejected 23 times before publication.

As a freelance author, the days of filtering rejection errors are over.

You write, publish, and build your own book business just like Jenna Moreci did by creating her full-time author and YouTube business, where she can now spend her days doing what she loves.

Watch an interview we did with him on how he did it:

or create a business from a book. Either way, your writing is the gateway to a better life that you create and have complete control over.

If you want to know how much it would cost you to bring home a full-time income from your books, check out this book earnings calculator. will do the math and show you what you would need to sell and how much you would make in total:

why authors fail to write for a living

Do you know why most authors only make a few thousand dollars a year or less from their writing?

Here are 4 reasons authors fail to write for a living:

They just write a book. You need momentum with your book platform to generate enough monthly sales to support your lifestyle. this is possible by building a library of books and maximizing the purchasing power of each one. we’ll see this later.
they don’t keep up with changing publishing trends. the desktop publishing industry is constantly changing. If you don’t keep up with what’s working (and what isn’t), your book sales plummet and you don’t reach as wide an audience as you’d like.
Stay with a platform as the only source of income. many authors stay only with amazon. this makes sense considering they have 85% of the ebook market. And Amazon’s exclusivity program, KDP Select, makes it easy to transfer all the power to the online digital giant. however, if you keep your eggs in a basket, what happens when that basket falls from the tree? In other words, Amazon decides to make a major change to their platform overnight, and within a week, their monthly royalties are cut in half. yes, it happens as we see it over and over again.
they don’t invest in the quality of their product. poorly designed book covers, sloppy editing, a boring book description…it’s equal to a product that nobody wants. If you want to make a living writing books, invest in your book (especially getting a good cover) so it will sell.

Bottom line: write and publish consistently, write high-quality books that people want to buy, expand your reach by publishing on multiple platforms, and stay up-to-date on the latest marketing strategies you’re working on.

This is the formula the most successful self-published authors use to make a living as a writer.

build your authoring platform to earn money writing

You, as an author and creator, need to form the mindset that this is your business: your book business. Whether you’re a part-time author looking to start earning extra income, or your goal is to be a full-time author, when you start making money from your “hobby,” you’re turning it into a business.

When it comes to generating income writing, it all boils down to one word: platform.

Your authoring platform is the structure of your writing career. It should consist of multiple streams of income. this starts with your platform.

according to michael hyatt, bestselling author of platform and free to focus, a platform is “the means by which you connect with your current and potential fans. It can include your company website, a blog, your Twitter and Facebook accounts, an online video show, or a podcast. You may also include your personal appearances as a public speaker, musician, or artist.”

As a writer, even if you’re writing a book for the first time, think about what your platform means to you. this will become the structural foundation on which your writing author business is built.

Whether you want to make a living writing fiction or non-fiction, the approach to how you structure your income streams is similar, though the content is different.

However, what drives their platform is the one thing many overlook: their author mentality. From now on, approach your craft with the mindset that this is your business.

Like any business, you need to focus on the customer experience and the products available to those customers. delivering the right product, in this case the book they are looking for, is how to convert the curious customer into a paying one.

components of an authoring platform

your authoring platform is made up of:

a book catalog: Consists of published books and all variations of the book, including paperbacks, hardcovers, large print, and audiobooks. His books, in addition to generating constant income, act as funnels to build his list of subscribers and promote his other products. His books can be stand-alone reads, as many non-fiction titles are, or a series of thrillers.

courses: as an author you can develop courses based on the content of your books. For example, take a look at what Lise Cartwright has built through her Hustle & slot. imagine a multitude of courses available when browsers or subscribers visit your site for the first time. creating online courses is a great way to expand this platform.

Website: A critical part of your writing business is your author website. here where you put on stage all your talent. you may have an author blog that attracts potential customers for your books and courses.

you could create content that you don’t publish on amazon and make it exclusive only to your website. you can cross-promote with other authors and set up an autoresponder email funnel to build a deeper relationship with your readers.

Your author website should include these basic features:

a free offer: This is free content that a new subscriber downloads after signing up.
Featured Blog Posts: Your blog is an asset and potential revenue stream as it attracts potential customers through visitor traffic.
course platform: highly recommended. these are great assets to build on and easy to scale.
About Page: Make a dynamic introduction here.

scalable assets and multiple revenue streams

let’s move on to my favorite topic: creating multiple streams of income to grow your business!

This is what I love about self-publishing. you are in command of your own ship and you, and only you, can choose which direction to take.

We know that if we write and publish a lot of books, potentially our library of books grows and this generates strong passive income.

but relying on book sales alone is a lot of work, and it’s more work if you’re selling on just one platform, amazon.

See how our own coach, Lise Cartwright, built her passive income stream with books (and how she can teach you to do the same when you become a student):

As an entrepreneurial author, a self-publisher who writes and publishes his own books, you always want to think creatively about how to expand your income streams.

Let’s take a look at the following list of book assets.

book series
boxes
audiobooks
paperbacks
hardcovers
great printed books

make a living writing with the “multi-book model”

Let’s be honest. making money with a book can be very difficult. Most authors who make a living as successful writers have several, if not many, books in the pipeline.

These authors are not only constantly publishing, but are focused on offering a series of books to build a valuable fan base.

People who buy your book series, once they get hooked on your series, they crave more. this makes it a no-brainer to expand your author platform with each new book release.

The more books you publish, the more income you can earn and add more subscribers to your list.

For example, check out these popular book series:

s.j. scott’s habit book series or mindfulness book series with barrie davenport.
john milton series by mark dawson. it is now at book #12 and this popular series has sold a million copies.
nick webb’s popular sci-fi series, the legacy fleet
the books in the series from the miraculous morning by hal elrod

We know that publishing consistently makes more money and builds your platform for the long haul. but why does this model work?

Another reason multiple books work is that new readers who discover you will almost always buy your other books if they like what they read. if that same reader likes your books, they might also want the course you offer at a 20% discount.

expanding book formats to make more money from your books

Don’t settle for posting in just one format.

we’re covering the different types of book formats you can publish in that will increase your writing income over time.

#1 – boxes

A boxset is a series of books bundled together that allows readers to purchase the series at a reduced cost per book. this is a great product to create as soon as you have 3 or more books in a series.

Check out these popular author boxsets:

mortality bites – box set (books 1 – 6): an epic urban fantasy adventure by ramy vance
noah wolf box set #1: books 1-4 by david archer

#2 – audiobooks

The popularity of audiobooks is on the rise. With fewer people reading and tuning into digital products while on the go, audiobooks are a source of income you can’t afford to leave on the table.

You can record the audiobook yourself or hire a professional. once recorded, upload to acx, listen and expand to other channels for wide distribution via find away voices.

#3 – paperbacks

We live in the digital age, but paperbacks are still very popular. in fact, 30% of my author income still comes from paperback sales.

With the power of print on demand, readers can purchase our books through amazon or ingramspark, and these sites do all the heavy lifting. no inventory.

#4 – hardcover books

You can use ingramsparks powerful distribution network to create stunning hardcover versions of your book. why not? it is another source of income that, once created, sells itself. you have to pay a fee of $49.00 per title and you will need an isbn for each version of the book.

#5 – books with large print

Did you know you can offer readers another version of your book in large print? This isn’t a huge market, but depending on the age range of your readers, it’s a great option for children’s books or readers with vision problems.

Ideally, you’re not just selling a book. you are turning a browser into a customer for life. that’s the real power of building a brand and author platform.

At this point, take a few minutes to lay out a rough plan for your book shelf. How many books will you write this year? is this a book series or standalone? With what distance will they publish their books? could you complement your book by introducing a course to accompany it?

create scalable revenue streams

Successful 6-figure entrepreneur author Joanna Penn explains her success in multiple streams of income that she calls “scalable assets” that generate thousands of dollars each month.

See how he does it in the following video:

Essentially, a scalable asset can be anything you create once and continue to sell over and over again.

For example, you spend more than a hundred hours writing a book. Now if you were paid $30 an hour to write, that would be $3000 for you after the job is done. But let’s say your book sells for $4.99 as an ebook and $12.99 for a paperback.

You consistently sell 30 e-books a day at a 70% royalty rate, because your book is priced between $2.99 and $9.99.

paperback priced at $12.99 earns a flat 60% royalty rate through kdp. that’s about $182.00 a day for e-book and paperback sales. Making money with e-books is doable and sometimes the most lucrative way to get paid.

now this goes on for 30 days and that’s: 185.00 × 30 = $5550. now i calculated this for just one book if it works really well. imagine where you could be with five, ten or twenty books, each generating their own streams of passive income?

what if you also had audiobooks? what about sales of rights abroad? a course that goes with the book?

get the idea now.

yes, the dream is very real. it’s right in front of you, if you want it!

How can you expand your author business right now?

How many resources can you create in the next six months?

build a raving fan email list

If you haven’t started building an email list yet, you need one. Without a fan base to market your books in the early book launch phase, you are left at the mercy of Amazon’s algorithm. your list is the horde of fans waiting for your book to be released.

When you’re ready to launch your next bestseller, these are the people who will help you make it a smash hit.

The successful launch of a book is essential. When you sell more books, this is a trigger for Amazon that your book is popular and in demand. amazon steps in to push your book into the also bought section, the area that recommends popular items to customers as they browse.

How do you build an email list?

You can start by offering a free gift inside your book.

This is a lead magnet that could be:

checklist
action guide
audiobook
free report
video series

Your readers give you their email when they sign up (what Seth Godin calls “permission marketing”) and are added to your newsletter list. this is one of the most effective ways to sell books and continue to add to your list of subscribers.

Your list is happy because they’re joining you on the journey as you keep them on top of each writing project. then, when you’re close to launch, you can invite them to your launch team and offer the book for free to a segment of your list.

this helps get book reviews during release week. in turn, your book sales increase and your book has a better chance of staying on the market after the first 30 days have passed.

Remember: From the day your book is published, Amazon places all books in the “New Releases” category. Maximizing paid downloads and reviews during this 30-day period is critical to the long-term success of the book.

ready to become a full-time author?

Okay, you don’t have to be full-time to keep making money selling your books. but to make money from this, there are three things you have to do consistently.

Here’s a list of three action items you, as a real author, can take to scale your platform, sell more books, and make good money while you sleep.

#1 – form a writing habit

I write every morning from 5:30 to 7:00. This is an ongoing program that I have maintained for the last 3 years and during this time I have written and released over 12 books.

Developing a writing habit is crucial if you want to write for a living.

If you still have a day job (and most people do), you’ll need to find the time of day that works best for you, set your most productive writing time, and make it a content creation habit during this peak time.

Once you’ve established your best writing time, write consistently for five days a week.

#2: Post Consistently

If you follow the steps above and write consistently, you’ll also be able to post frequently.

Imagine where your platform (fiction or non-fiction) would be if you published a book every 3-4 months. this is how you create scalable income.

do the work now and reap the rewards later.

#3: Communicate with your fan base

We discuss the importance of an email list and why you need one. when you’re getting ready to launch, you’ll want to be able to shout it out to someone who’s listening.

Their team of dedicated email subscribers is ready to help you launch one bestseller after another. but communicating with your list is critical between book releases.

At a minimum, send an email once every two weeks and, if you can, once a week. provide tips, strategies, or an update on what you’re working on.

Keep your tribe informed!

#4 – determine your level of success

You have to work out the details of what your success means to you.

How many sources of income can you generate and what are they? Will you focus on the broad distribution model or will you stay exclusive with amazon?

This is different for every writer and depends on what is comfortable for you in terms of time and financial investment.

stay focused on the big picture and scale up gradually. With each new book, you’re building potential to earn more and gain wider recognition as an author.

if you write a book and focus all your efforts on it, think about other sources of income to link to your book and the kind of fan base you want to build. will you offer coaching? courses? outsource your tech skills to help other authors?

You are an author and now is the best time to make a living as a writer.

Disclosure: Some of the links above may contain affiliate associations, which means that, at no additional cost to you, Desktop Publishing School may earn a commission if you click through to make a purchase.

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