Self-publishing used to be reserved for those who could afford to pay tens of thousands of dollars since they had to pony up for big print runs. Print on demand (POD) has helped level the playing field since you no longer have to invest in inventory, but there are still plenty of expenses affiliated with turning your idea into a published book. During the creation process, you may wind up paying for a writing coach, a developmental/line editor and/or a copy editor. To create a book that looks professional, you’ll need a book designer to create the cover as well as the design and layout of the interior pages. If you want people to actually find out about your book, you’ll want to tap a publicist and online marketer. Of course, wading through your publishing options isn’t exactly easy either. Depending on the level of help you’re looking for, you may opt for an entity like Incubation Press or Hillcrest Media to facilitate–or even spearhead–your book’s publication.
Of course, all this costs money. The good news is that if you don’t have the wherewithal to fund your book’s publication, you can get a little help from your friends–and even from people you don’t actually know–through book crowdfunding. In the guest post below, Amanda L. Barbara, vice president of Pubslush, a global crowdfunding platform for books, shows us how authors can raise funds, learn about their audience, and self-publish or traditionally publish their work. A philanthropist at heart, Amanda serves on the board of directors for the Pubslush Foundation, which supports children’s literacy initiatives worldwide, and is a founder and director of The Barbara Family Foundation, an organization committed to assisting charities and children in need. Amanda is an advocate for crowdfunding in the publishing world. She has spoken at various conferences, such as Writer’s Digest, Tools of Change, and the Digital Publishing Innovation Summit, and has been invited to serve as an ambassador and speaker at CONTEC at the Frankfurt Book Fair.
We can all agree that the goal of most writers is to get published. As many writers know, the traditional publishing industry is hard to break into, and as a result, many authors are choosing to self-publish. Unfortunately, authors who choose this route find themselves with a substantial financial risk and out-of-pocket expenses. This is where crowdfunding comes in.
Crowdfunding is a way for artists, entrepreneurs, and businesses to raise funds and mitigate the financial risk of their creative projects or business ventures. More specifically, crowdfunding for authors is a way to raise funds and lessen the financial burden of self-publishing by utilizing their personal and professional networks. A successful crowdfunding campaign will not only help authors alleviate the financial risk, but it will also prove the market viability of their book project and help build an audience. Crowdfunding is an invaluable resource for authors as well as a way for readers to influence what books are published. Crowdfunding helps take the deciding power out of the hands of major publishers and put it into the hands of readers and writers.
Here are a few steps everyone should take before crowdfunding:
- Plan. Campaigns typically last 30-60 days and you need to make each day count. A marketing plan is absolutely necessary to assure you maximize the time you have.
- Get ready to work. The biggest advocate for a book is its author so be willing to market constantly. The more dedicated you are, the more likely you are to have a successful campaign.
- Set funding goals and reward levels. Research publishing costs to decide exactly how much money you need to raise. If you want to sell e-books, for example, you will not need as much as if you want to produce physical books. Because of the variation in publishing costs, you will need to know your publishing goals to determine the funding goal and reward levels for your campaign.
- Use your pre-existing network. Contact family, friends, and co-workers about your campaign. Reach out to your general audience too, but be aware that most of your support will likely come from people you already know.
- Stay committed. Even if you do not reach your crowdfunding goal, any amount you raise will alleviate some financial stress. Those who supported you want to see your book succeed so be sure to keep them updated on your progress throughout and after your campaign.
There are multiple crowdfunding companies that assist authors in this venture. One of these is Pubslush, a global crowdfunding platform only for books that acts as a tool for both writers and publishers. Authors crowdfunding on Pubslush do not have to worry about their book campaign being overshadowed by other types of creative projects or business ventures.
All of Pubslush’s logistics are targeted to assist writers and publishers. Flex funding, for example, allows authors who procure over $500 to keep the money they earned even if they do not reach their funding goal. Pubslush also provides other services catered to authors, such as an in-depth market analytics, which helps writers pinpoint their audience.
If you are considering crowdfunding for your book, I encourage you to continue your research on the topic.Pubslush 101 offers more information about running a successful campaign, post-campaign steps, and publishing in general. Remember, when it comes to crowdfunding, you will get what you put in.
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