Raising Money to Publish Your Book
Dec 01, 2014
If you’re thinking about publishing a book, by now you probably know that you’ll need funding to do so. There are many expenses associated with publishing a book, and it’s important to have enough room in your budget for each aspect of the publishing process to ensure a professional, high-quality book that is properly marketed.
But what if you don’t have the extra cash on hand to publish your work? Do you sit on that manuscript and wait years until you can cash in your 401(k)? There’s another option…crowdfunding! Many writers are now turning to crowdfunding to raise money needed to publish and market their book.
Whether you need money for editing, the design of the book, printing, the marketing, or all of it, if there’s enough interest in your book, you can raise some (if not all!) of the capital you need. There are many platforms an author can use to raise money for their book project. You’ve likely heard of Kickstarter, and there’s also GoFundMe, Indiegogo, and Pubslush. Pubslush is a great choice for authors because its focus is on books and authors specifically, whereas with other crowdfunding sites, you may be competing for attention against someone raising money for their baking business, for example, and the folks surfing the crowdfunding site may not be avid readers or supporters of literary endeavors.
Some important things to keep in mind if you’re going to crowdfund…
- First plan out your whole budget before you post your campaign. Be sure to include all expenses from start to finish: editing, design, and marketing. And be sure to include at least a few months of marketing expenses, not just your launch.
- Read the terms and conditions of the crowdfunding site carefully. What are the site’s fees? If you don’t reach your set goal, do you still get the money that was raised or none of it? Also, are there certain guidelines on the content of your book or type of book you’re raising money for?
- Be sure to offer some good incentives to your donors—autographed copies of your book, maybe a special edition version, or something like offering to do a reading with their book club. It’s very important though to be sure to include those expenses into your budget. You don’t want to get your funding, publish the book, and then realize you don’t have enough money to print up those special hardcover books you promised to your donors.
And most importantly, have fun! Running a campaign and publishing your book should be enjoyable and fun, not work!