I just received my second royalty check for the second edition of WHAT TO CHARGE: PRICING STRATEGIES FOR FREELANCERS AND CONSULTANTS. With these royalties, plus the Kindle sales and the books I’ve sold on my own at personal appearances, I have almost recouped the basic cost of the publishing package from the self-publishing outfit, Outskirts Press—in just 6 months.
The actual cost to publish the book was nearly double the basic cost by the time I added on extra features, such as Kindle and a Library of Congress number. The add-ons were services I felt would increase sales. I can tell these were wise investments.
I had anticipated recouping the costs of producing the book in two years. If sales continue well this year, I might recoup the costs in about one year instead. I also had anticipated a third year before I would see any profit, as I would have substantial promotion costs in the first year the book was available.
Wouldn’t it be wonderful if I start to see a profit within two years?
Many people wonder if the money spent to self-publish a book can be recovered. My answer is yes. Choose a good basic package and additional features that will encourage sales, then aggressively promote the book to the target audience. Self-publishing can be profitable!