As writers, we are doing something that we love. We also know that writing comes with wearisome but necessary tasks, such as budgeting. This is especially true if you’re self-publishing. As annoying as managing your budget can be, it is vital to getting your book onto the market. Here are a few tips I picked up in the course of publishing my first book.
- Set your maximum budget. First and foremost, how much can you spend on your book? Some of us, like myself, write as a hobby. With writing not a main source of income, I need to pinch pennies. If you’re worried about overspending, do some research online to get an idea for the general cost of publishing. From there, set yourself an upper limit you won’t go over. Keeping within boundaries can not only help you keep a firm hand on your finances, it also narrows the field of available options and prevents overloading your brain with too many choices.
- Budget in steps. You won’t be spending all your money at once. Getting your book ready requires multiple steps: Editing, cover art, marketing, formatting, and so forth. So, you can create a budget that accounts for each stage. Budget for the editors, and plan for what type of edits you’ll submit your draft for: copyediting, line editing, etc. Plan how much you will spend on cover art, and whether you will have your book formatted as an eBook, hardcopy, or both. How will you market your book, and how much are you able and willing to spend? Dividing up these tasks can make setting the budget much less overwhelming. You put money away for each stage, rather than viewing it all as one big vaguely defined blob.
- Do research before you pay. The old adage rings true: “You get what you pay for.” As you look into available services, research company reviews online. What do other authors have to say about their experiences with this or that business? And furthermore, if you find someone offering what seems like a bargain, be cautious. Ask yourself: Are they cheap because they can’t keep any customers? Look around, build up a list of potential candidates, and check them out one by one until you find someone you can trust to do a good job. And remember that the quality options are inevitably going to command higher prices.
Money is a pain. It’s not why most of us write. But it’s a necessary evil, and it’s worth it in the end. The light at the end of the tunnel is seeing your book up for sale and available to the world.
Many thanks for visiting my blog. I post updates on my writing career, I muse over storytelling and fiction, and I reflect on the curious and wonderful things in life.
Jake W. Powell 