increase your success: think like a publisher
DESCRIPTION
WaveCloud's Wednesday Webinar Series. This webinar is intended to introduce self-publishing authors to the industry standards and requirements for well received published books.TRANSCRIPT
Self-Publishing Wednesday Webinar:
Increase Your Success by Thinking Like A
Publisher
Bill Van Orsdel (303) 974-7845 [email protected]
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 [email protected].
WaveCloud Self-Publishing Wednesday Webinar Series:
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”