Side hustles are exciting ways to boost your income. Given that we’re all on the lookout for extra cash, that’s got to be a plus point. Of course, some side hustles have had plenty of exposure over recent years. Anyone worth their salt knows about blogging. Most of us also have a pretty good grasp on how to earn through online surveys and the like. But, there’s a new kid on the block. Online publishing is a also getting a well-deserved look-in on the side hustle circuit.
Of course, this is different from many other options out there. On the one hand, it involves more work to get started. On the other, it stands to make more money than most other side hustles put together. As such, it’s well worth your attention.
Of course, given that there are higher levels of effort involved in this, there’s also a raised risk of failure. Let’s be honest; it’s possible that no one outside your friendship group will even look twice at your efforts. As such, the last thing you want to do is pile hours of time and buckets of money into something which won’t sell.
To make sure that doesn’t happen, it’s worth asking yourself whether your book idea could really make you money. This will dictate every step of your process and is well worth careful consideration. Only once you can be sure or selling potential should you dedicate a lot of time to this. You certainly want to know you can make your money back before seeking something like the long term loans from Evolution Money. With that in mind, then, ask yourself the following questions about whether your book will make more than it takes.
Do you have an existing audience?
You could argue that questions about audience are most important of all. After all, these are the people who will be buying your book in the first place. As such, ask yourself whether you have an existing audience you can market this book to. If not, it’s unlikely your efforts here will reap any significant rewards. That’s a harsh but true fact you need to acknowledge now. However, it’s possible you have an untapped audience you haven’t even considered. Those with a blog, for instance, may find that their blog readers show real interest in a book. Even something as simple as a decent following on social media could be enough to ensure you see sales. All you need to do is make sure the book you write is relevant to the audiences you already have. If you don’t already have an outlet, create one before you get started here. You could always do this during the writing process, but there’s no guarantee of success that way. Instead, dedicate six months or so to building a loyal following. Then, you can start your book without having to worry about no one buying the thing.
Do you know how to market?
Marketing is, perhaps, the hardest thing about publishing yourself. You won’t have Bloomsbury or Random House tooting your horn for you and arranging those events. Instead, it all falls on you. In fact, your ability to market yourself or not could spell the fate of your book. If you have no idea how to get the word out there, it’s unlikely you stand to see any real success from your efforts here. If, however, you have some understanding of how marketing works, there’s no reason you can’t make a go of this. Bear in mind that having an existing audience is a fantastic sign here. If there are people out there who care what you do already, the chances are you have marketing down. It also helps if you know others who have gone down this route and can give you their tips and tricks. At the very least, it’s worth searching online for advice from those who have been in your position. There are plenty of resources out there which clearly show how self-marketing works. If you don’t feel like you could meet those demands, there’s no getting past the fact this won’t work for you. If you want to see success, you need to be willing to host events, pay for advertising, and generally work to get the word out there.
Does your idea lead to other avenues?
It’s also worth noting that a stand-alone novel is rarely a path to real success. In fact, once initial buzz dies down, you may find that you can’t even cover your outlay. Instead, you want to follow ideas which could lead to other avenues in the future. In this sense, you need to get your business head on. An entrepreneur wouldn’t go down a dead end with a product. They’re always looking for new ways to additional profits and advancements. And, you need to do the same. Consider whether you could release merchandise such as shirts and bags to go with your book. Most importantly, ask yourself whether it leads to a possible sequel in the future. Two books mean double the profits and are a goal well worth aiming towards. It may be that you can split the information you have into two separate novels. Or, you may find that you don’t have enough steam on this subject to make it span over anything more than one release. In that instance, consider holding fire until you have more material you know you can make use of.
None of the above pointers should be enough to put you off making a go of online publishing. More, they should prove as food for thought. As you can see, each dilemma has an easy solution. It may be that you need to hold on until you’re in a better position to sell. It may not seem ideal now, but your bank balance will soon thank you for it. You can certainly bet you’ll have a much higher chance of pulling decent profit if you take it slow.
+++ Collaborative Post +++