You’ve done it! You have a finished book and are ready to see people reading it! After deciding your publishing route you picked… Self-Publishing! Hooray! Self-publishing is an awesome choice for publishing, now for the real trick: paying for it.
In traditional publishing, the cost for printing, storage, and delivery of products is on the publisher. In self-publishing, you are the publisher, so congratulations… you’re officially a parent… again.
I’m going to show you some options for paying that bill in this video; what I chose, and why.
Funding Options
So, you’ve decided to self-publish your book—awesome! Now, let’s talk about how to cover the cost of getting it out into the world. There are a few different ways you can go about this, depending on your financial situation, goals, and risk tolerance. Here are the three main options:
Self-Funding (aka Money You Already Have)
If you’re in a position where you’ve saved enough money to fund your publishing venture, this is the simplest and safest route. No debt, no external pressure—just you, your book, and your budget. But remember, just because you can pay out of pocket doesn’t mean you should blow your whole savings on this. It’s always good to keep a cushion for life’s unexpected curveballs… like when your dishwasher breaks, floods your kitchen, and you have to go live in a hotel for a week—don’t ask.
Borrowing (aka Debt Land—Proceed with Caution!)
Now, let’s talk borrowing. I’m a big Dave Ramsey fan, so you know where I stand: Debt is Dumb, Cash is King. I live by the saying, “The borrower is slave to the lender.” This option can be tempting, but trust me—if you go this route, borrow from a bank or a professional lender, not family or friends. No book project is worth risking Thanksgiving dinner being awful for the next decade because you still owe Aunt Patty $1,000. Keep your relationships, not the receipts!
Crowd-Funding (aka Your Tribe Has Your Back)
And finally, my personal favorite: crowd-funding! This is like saying, “Hey, I’m doing this cool thing – do you want in?” This is the option I chose for Storm Trucks, and let me tell you—it’s been a game-changer. When I launched and I saw all the people backing my project, it was like Christmas! Platforms like Kickstarter or IndieGoGo allow you to gauge interest in your book before you spend a penny. If people are willing to back your project, that’s proof there’s a market for your work. The best part? You don’t spend money you don’t have. You set a goal, and if you reach it, you get funded. If not, no one’s out any cash. It’s a win-win!
I chose Kickstarter because I’d supported several projects there and found it super easy to use. It’s well-known, reputable, and has a built-in audience of people who love to back creative ideas. Plus, the platform handles the tricky parts, like payment processing and tracking backers. Win!
Here’s how I did it:
Choosing Your Dates
The first step in setting up a Kickstarter is choosing the dates for your campaign. Timing is everything, and it’s crucial to select a time when your audience is most likely to be engaged. Avoid launching during holidays or major events that might distract potential backers. Typically, a campaign duration of 30 days works well—long enough to gain momentum, but not so long that interest wanes. Make sure you have everything ready before your start date, including your video, campaign page, and promotional plan.
I had my product ready in the summer, but reality check – in the summer I’m busy keeping my kids alive and entertained! I knew I couldn’t do a campaign well during that time. So I waited until school started, but before the holiday rush. A time that would be convenient for me and my backers.
Choosing Your Rewards
Next, you’ll need to decide on the rewards you’ll offer to backers. Rewards are the incentives that encourage people to support your project. What could I do to amp up my project? Should I go big with monster truck rides?!? Whoa, Charlotte, let’s reel it back in. Think creatively about what would excite your audience, without going over the top… In my case, I am offering my book, my ebook, signed copies, stickers, and bookmarks. It’s important to strike a balance between offering rewards that are appealing and rewards that are feasible for you to produce and deliver. I picked bookmarks and stickers because they are not overly expensive, and I can ship them in the same media-mail package as the books.
Choosing Your Tiers and Prices
Once you have your rewards figured out, it’s time to organize them into tiers. Tiers are different levels of support, with each tier offering a specific set of rewards. Pricing your tiers correctly is crucial. You want to make sure each tier offers good value, while also covering your costs and contributing to your overall funding goal. Consider having a variety of tiers to appeal to different backers—from lower-priced tiers for casual supporters to higher-priced tiers for those who want something more exclusive. My tiers ranged from $10-$50.
Handling Shipping
Shipping can be one of the trickiest parts of a Kickstarter campaign, so it’s important to plan this out carefully. Make sure to include shipping costs in your funding goal and clearly communicate shipping fees for each reward tier. Consider offering different shipping options for domestic and international backers, as international shipping can get expensive quickly. Also, be sure to account for potential delays and have a plan in place for packaging and mailing your rewards. I decided for my first Kickstarter to only ship to the USA, where I live. I offered an ebook version for international backers, but I wasn’t ready to figure out international shipping for my first Kickstarter.
Tell Your Story
A vital element to crowd funding is communicating your product’s story. This can include a video, pictures, information, the background of why you are making this product, and the sales pitch. All of this is important to have ready before you launch your product. Remember, you are the marketing team. So tell your story the best way you can!
This takes a bit of time to put together. I included a video of myself reading my story aloud; background of where the story came from; the jacket copy; the size and details of the book; mockups of the book and all the rewards; information about myself; and a thank you to all who support me.
Paying for your self-published book takes planning, and crowd-funding is a great choice. Setting up a crowd-funding campaign requires careful planning and attention to detail. By choosing your dates wisely, offering appealing rewards, pricing your tiers correctly, and handling shipping with care, you can set your product up for success. Remember, the more prepared you are, the smoother your campaign will run.
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