How You Can Earn By Writing A Book

Writing a book is seldom seen as a personal agenda, but majorly as a money-making entity. How much money can I make? How soon can I make money? Is it worth investing in writing a book? These are some of the questions my prospects ask me as a professional ghostwriter.

We all want value. We all want to make money and authoring a book is seen as transactional over documenting authentic information and creating awareness. But for the value seekers here is how you can make money-

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The Traditional Publishing Approach

Malcolm Gladwell one of my favorite authors has written eight books with three bestselling books- Outliers, Tipping Point and Blink. Malcolm was hired to write his first book through the traditional publishing companies for a handsome fee.

To be approached to write a book through traditional publishers, you must be a celebrity, an influencer with a big follower base, a known authority in a field, or someone with exceptional book ideas or concepts.

Traditional publishers will evaluate your credibility before investing in you to write a book. Then they hold the copyrights to the content and would pay you an initial fee and royalties as the book takes off.

Through Malcolm Gladwell's Wikipedia page, I found out that he was offered $1 Million to write his first book – The Tipping Point.

What made him gain this assignment is his unique research and storytelling skill which he showcased as a reporter in his earlier career- Credibility established.

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You need to identify your uniqueness, which could attract publishers to your work.

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And don't be disheartened if you don't fall into either of the categories above.

§? Start your journey by researching unique book ideas

§? Begin by building unexplored content

§? Start forming your community/ followers on social media who would like to read this content

§? Establish authority and credibility in your said field

§? Now approach traditional publishers with your idea/concept/manuscript

It's not easy. It's not instant. It is a process which might run in loops but is a proven way to generate revenue.

It is subject to the publishers' discretion to accept/reject your manuscript for X reasons. But remember J K Rowling's first manuscript 'Harry Porter & The Philosopher's Stone' was rejected by 12 publishers before it could finally take off to make her one of the highest paid authors in the world.