Published on March 14, 2014
Self-Publishing Wednesday Webinar: Increase Your Success by Thinking Like A Publisher Bill Van Orsdel (303) 974-7845 Bill.VanOrsdel@WaveCloud.com
Checklist: ü You are planning to self-publish your book ü Fiction and Nonfiction have DIFFERENT approaches ü You are approaching this as a business ü Not a discussion of “business” ü You are ready for the zone of discomfort Before we get started…
WaveCloud is an Author Services platform and an ebookstore Helping writers become successful authors is our #1 priority Not a “How To Do”, but a “What To Do” Watch this webinar: Increase Your Success by Thinking Like a Publisher A word from our sponsor Bill Van Orsdel WaveCloud CMO
Key Points A. Critically self-evaluate your book’s prospects for success Unique book? Compelling book? Addressable Audience? B. Make a plan for your publishing business Profit Projection Business Plan Investment Budget Production Schedule Marketing Plan Launch Timeline C. Produce at the highest quality level your budget allows Prioritize spending: Editing, Packaging, Promoting D. Monitor, Adjust, Monitor, Adjust, ….. Publishing is a Process Bringing a book to market is a Project CreateSpace is a trademark of On-Demand Publishing LLC.
1,500 books are traditionally published every single day by profit-seeking, professional organizations Why does this matter? • Goal: Be competitive & profitable • Profitability = more budget for more books = more profit = more books = more profit = more books …..
How is this book unique? Your Memoire!, Space Raccoons!, Vampire Academy!, High Wire Yoga!, etc. What is compelling/unique about this book? Will it generate Positive Word of Mouth? Who is the audience for this book? How will the Author reach the audience? Acquiring the Editor Hat…
Defining the Target Readers Who are the target readers? NOT EVERYONE!!!!!! i.e Left-Handed, High School Tennis Players! How many target readers out there? How many readers are “addressable”? How many readers is the Author already connected to? How will the Author connect with the rest?
Profit, by the numbers Sales: Estimated Unit Sales Net Revenue (per book): Book price * royalty or processing cost Projected Revenue: Sales (units) * Net Revenue (per book) Projected Costs: Advance + Editing + Production + Marketing + Overhead Total Profit: Projected Revenue – Projected Costs
Amazon™ book sales rank affects potential # of book sales • Your book sales rank: between 5,000 – 10,000 • Because of this, you achieve about 6,000 total book sales in the first year Profit, by the numbers Example – Setting the Stage • Book price & royalties • eBook - $3.99, 70% royalties • Print book - $6.99, $3.40 processing fee • Sales: • 75% of your total sales are ebooks • 25% of your total sales are print book • Projected costs: • Advance: $0 • Editing: $2,500 • Production: $1,000 • Marketing: $1,500 • Overhead: $500
Profit, by the numbers Example Ebook Print book Total Sales (Estimated Unit Sales) 4, 500 = 75% * 6,000 1,500 = 25% * 6,000 17 books/day 6,000 total books in the first year Net Revenue (per book) $2.79 = $3.99 * 70% eBook price * royalty $3.19 = $6.99 - $3.80 Print book price * processing fee Projected Revenue $12,555.00 = 4,500 * $2.79 Units sold * Net revenue per book $4,785.00 = 1,500 * $3.19 Units sold * Net revenue per book $17,340.00 Projected Costs $0 + $2,500 + $1,000 + $1,500 + $500 Advance + Editing + Production + Marketing + Overhead $5,500.00 Total Profit $17,340 - $5,500 Projected Revenue – Projected Costs $12,440.00
A Business Plan, really? • Vision Statement • Organization Form and Ownership Structure • Forecast for Producing Books (#/year) • Annual Budget to Bring Book(s) to Market • Book(s) Sales Forecast(s) • Competitive & Target Market Research • Production Timeline(s) for Book Production(s) • Marketing Plans & Marketing Budget
Forecasting Books, Revenues & Costs • How many books to market per year? • How much are you going to invest per book? • Editing, Production, & Marketing • How many of each book will you sell during its first twelve months in the market? • How much (net royalty) do you expect to make per book sold?
Competitive & Target Market Research • Amazon™ “Browse Paths”, Book vs. Kindle • Genre “norms” • Cover Design • Length • Trim Size • Common promotion methods • Target Audience addressability
Sample Book Production Timeline Write: 4 months Self-edit: 1 month Professional edit: 1 month Production: 1 month Pre-launch marketing prep: 2 weeks Post launch marketing: 2 months+ Fiction vs. Nonfiction will vary
Marketing Plans & Budget (Sample) Anchor Site creation/update $1,500 Paid “Professional Review” $500 Paid ARCs sent (print + postage) $100 Goodreads Ads and/or Giveaway $250 Bookbub (or similar) campaign $650 LinkedIn/Facebook promoted posts $300 PPC Campaign Google/Facebook $500
Monitor & Adjust þ Is your writing output meeting your forecast? þ Are your sales meeting your forecast? þ Are there production things you can execute? þ ALL marketing should have a digital component for traceability, otherwise skip! þ Are you capturing DAILY sales from Amazon™ and other distributors (to track against marketing)? þ What “free” marketing have you missed? þ How effective are your price promotions?
Final Recommendations: A. Critically self-evaluate your book’s prospects for success Unique book? Compelling book? Addressable Audience? B. Make a plan for your publishing business Profit Projection Business Plan Investment Budget Production Schedule Marketing Plan Launch Timeline C. Produce at the highest quality level your budget allows Prioritize spending: Editing, Packaging, Promoting D. Monitor, Adjust, Monitor, Adjust, ….. Publishing is a Process Bringing a book to market is a Project
Enjoyed this webinar? WaveCloud has more online! Addi<onal webinars can be viewed here: WaveCloud Webinars Ask ques<ons regarding self-‐publishing, request a topic you would like to learn more about, or tell us what you think at firstname.lastname@example.org. WaveCloud Self-Publishing Wednesday Webinar Series:
Questions? Bill Van Orsdel (303) 974-7845 Bill.VanOrsdel@WaveCloud.com
Other Resources Dean Wesley Smith’s Blog “Think Like a Publisher” www.DeanWesleySmith.com Jane Friedman’s Blog “How to Write a Book Proposal” http://janefriedman.com/2012/11/09/start-here-how-to-write-a-book-proposal/ “How to Write a Book Proposal” http://www.hiwrite.com/pro.html Internet Search on “Sample Book Proposal”
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