Sunday, January 23, 2011

Rich Writer, Poor Writer

I was recently re-reading Rich Dad Poor Dad and the main point of the book, to me at least, is to have money work for you instead of you working for money. Since we’ve touched on self-publishing over the last few posts, I’ve decided to do a quick step-by-step guide. After the initial time investment of writing your work, you can sit back and let the money roll in (assuming people want to buy your work)

1. Complete your work and get it reviewed, if not by a paid editor, then by family or friends or a social networking group.
2. Pick a service. (We’ll use Amazon for this post)
3. Answer all the questions to set up your account and desired royalty options.
4. Price your work appropriately. ($2.99 and lower is best -See previous post)
5. Upload your work to the Kindle Direct Publishing website.
6. Publicize, network and market, market, market!

It’s been a little over a year since I self published my first book and the second book was just finished. I’m just now getting to the point where I’m receiving a monthly royalty check and I believe writing another book helped with the increase in sales. It’s still not a lot of money yet but the potential for growth is unlimited. With no overhead costs, I’m in the position to have money work for me. As seen in the last post, there are many authors who’ve established a large platform and are earning more than $1,000.00 per month. There are also several authors who currently earn more than $10,000.00 per month from self-publishing. With no publisher taking money off the top, these writers have set up a great future for themselves.

So the choice is up to you. Are you ready to take the leap and use the skills you have to help secure your financial future?

I say come on in, the water’s fine
Take care until next time.

1 comment:

  1. Great way of applying the concepts from Rich Dad Poor Dad in terms of your own interests. Amazon is a great way for authors to publish their work. The barriers to entry are much lower compared to what they used to be. Amazon gives you more time to be a better author.

    Keep up the excellent work!