4 Ways to Fund Your Book Project

Funding designLooking to fund your book?

Here are 4 ways to do it!  Keep in mind how much money you’ll need will depend on your goals. Once you figure that out, you can decide on a strategy.

#1. Sell advanced copies of your book. If you have a subscriber list, selling advanced copies of your book is easy to do.  Just create an email campaign and watch the sales roll in.  How much you make will depend on the price of your book, you ability to write compelling emails that get people to buy, a clean-looking sales page,  and the size of your list.

You can also sell advanced copies by blogging about your book and putting a call to action that takes potential buyers to your sales page, create videos, free webinars, and even some kind of contest or challenge that would lead people back to buying your book.

In addition, you can accept pre-orders through Amazon for up to 3 months before the release of your book. You’ll have to upload a working draft of your book to begin taking orders, and you won’t get paid until it is live, but it will give you a lot of exposure, which means more sales as well as time to promote for even more sales when it does go live. (Pre-orders also count toward bestseller status if you do a launch once your book is live.) Be aware that you do have to upload your final book at least 10 days before your release date or you could get banned from doing it again for a year

#2. Crowdfunding. If you want to keep control of the process, let your fans finance your book! Figure out how much money you will need and ask people to contribute. There are two types of crowdfunding sites. 1. You ask for the whole amount that you want and you must reach your goal or you don’t get the money. 2. You get whatever you raise even if you don’t reach your goal. Donors prefer the first option as most people don’t want to contribute to a project that is underfunded, and therefore may not ever come to fruition.

Here are some top sites to consider:

Kickstarter: Kickstarter is the most popular for writing projects (and all creative projects); they have a publishing category. Anyone can apply, but Kickstarter reviews all projects to make sure they follow the sites rules. They take 5% of the profits and charge a 3-5% processing fee.

Indiegogo: Indiegogo raises funds for all ideas not just creative ones and they do not have a publishing category, but they do feature books.  They have a dual approach; you can choose to keep all funds raised or use the Kickstarter model. They charge 4% if all the funds are raised and 9% if they are not raised with a 3-5% processing fee.

Pubslush: Pubslush is for authors. You keep the money as long as you raise at least $500. They also offer assistance for a $25 fee. They also charge 4% plus processing fees and they donate a childrends boook to a child in need for every book sold on their site. They also leave your page up after you’ve raised the money so people can continue to buy your book from their site once the crowdfund is completed.

Publishizer: Publishizer is only for books. They match publishers with authors during pre-order campaigns: they allow authors to offer pre-orders and publishers to find them during the process.

#3. Get sponsors. While sponsors are great for helping you cover your costs, they can also help you reach new readers-even whole communities-that you wouldn’t otherwise reach and they might even become one of your biggest buyers of books.  (FYI: how-to and business books are most apt to get sponsored.) If your book is in alignment with their marketing objectives and reaches their target market, they may be open to sponsoring you. To get them, figure out what industries would be relevant to your book and who would benefit from helping you get the word out.

Next, write a book proposal, or you can have us do it for you. (You can learn more atwww.ebookthis.com). Send it to the companies that you think would be most appropriate with a cover letter written to a specific person (if known) or department that handles sponsorships.

#4. Write an ebook and self-fund it. It is a lot less expensive to publish an ebook than a book. You can find vendors for very little money on Fiverr at www.fiverr.com or do it yourself. For graphics, I recommend using Canva www.canva.com , which is free, or Pixel Studios http://ellenlikes.com/easybookcovers ,which is a one-time cost, has beautiful templates, and uses drag and drop technology.

How you raise money for your book project will depend on your project, your situation, and your personal style. Some people are more comfortable approaching sponsors than asking the general public for funds and others simply don’t have a project that will appear to sponsors.  Still others would prefer to take advanced orders and can make enough sales to make it viable. But, the bottom line, is that if you have a book project to get out into the world, figure out how you are going to make it happen and go for it!

To learn more about how I can help you write, publish, and/or market your book, please schedule a free Bestseller Consultation at:http://ellenlikes.com/schedulefreeconsult

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