The potential cost of writing your book
Whenever I am asked the question “what is the cost of writing a book” my response is usually
[Tweet “what is the cost of NOT writing your book?”]
Remember (and it certainly feels like it) that it takes approximately 700 hours to produce a non-fiction book. For someone who does it all themselves, a simple calculation will tell you how much it would cost if you paid someone (yourself) by the hour. Go on; multiply your hourly rate by 700: scary isn’t it? However, think of the VALUE that the book brings, along with the personal development that you get, add in credibility and opportunities, and wow!!
Generally, most authors do not do everything themselves; they will pay for a book coach, copy editor/proof-reader, cover designer, formatter and someone to upload to Amazon. Your role is to write and edit (until it goes to your proof reader).
[Tweet “I rarely think about the costs to manufacture a book, as a book for me is an investment in my personal brand and my future. “]
Your ‘costed’ time and other costs are ‘sunk costs’, they are the investment that you make, to differentiate you and your personal brand. Your ideas and unique voice which lead to your book are your intellectual property, and if done well can lead to sustainable growth and future profitability.
Take time to ponder the cost question before moving on and consider these three words – cost, price and value. We will look at pricing in a future.
So what is the cost?
In accounting terms, it is the cost of producing something e.g.
- Research and development
- Overheads (recurring costs)
- Any one-off costs
- Outsourced items, time, products, manufacturing
From a writer’s point of view, cost is the amount of money and time spent to produce his or her book. Here is the funny (or not so funny) part: if you could sell your books at the production cost, no-one would ever buy them – imagine all of those hours writing and editing at your hourly rate. Even if you do everything, yourself it is still not FREE, because your time is money.
So, why would you write a book?
Because of the value it brings.
The value is what you gain from becoming a published author. The value comes in what a book gives you:-
- Brand awareness
- Profile building
- Ability to find and share your voice
- Enables you to shape the future and influence change
- Educate others by reaching out with your knowledge, skills and experience
- Promote yourself more effectively
- Connect to a wider audience
- Build a community, campaign for a cause, create a different future
- Build your confidence
- Enable collaboration and collaborative thinking
- Personal growth and development
- Motivation and inspiration
- The list goes on….
[Tweet “If your dream is to get more clients, have more speaker opportunities, build your brand, and become more successful, a book will help you to do that.”]
If, on the back of your book, you were able to book more clients at a higher price, get more speaker bookings, be able to create an online course, the cost of your book would be recouped in no time at all.
[Tweet “The cost and price of your book is largely immaterial, it is the value of it to you which is more important.”]
It’s good and wise to understand the economics of producing a book, of course it is, but ultimately, let me say it again: it is the value that YOUR BOOK brings YOU which is more meaningful.
When you are considering your book, ensure that you pull the costs together, decide what you will do and what you will outsource. AND… Make sure that you have put together your personal brand and marketing plan, so that you know up front what is the value of your book and how you are going to use it to make money.
To unlock your Plan Your Non-Fiction Book In A Weekend online course – $10 Limited Special Offer! – share the love
Get your copy on Amazon
Plan your non fiction book in a weekend has been designed to help you to be able to undertake all of the vital planning tasks that make writing a book – simple and stress free
Each day to help you create your book, I am going to answer these essential planning questions:-
- What kind of planner am I and why is this important to know?
- What tools and resources do I need?
- What is the process and cost of writing and publishing a book?
- How long will it take me?
- How do I get ideas for my book?
- How do I choose the ONE big idea for my book?
- What is an outline and how do I create one?
- How can I structure my chapters?
- How do I create and use a book proposal?