This is a guest post by best-selling author, coach, and speaker Stacy Ennis.
Writing a book is a lifelong dream for many. Part of what keeps it in the "dream" category is the sheer amount of effort, time, and cost.
That said, for those looking to write a nonfiction book to help them reach the next level of their business and impact, the investment is worth it. While the investment of time is substantial—and powerful!—I'll keep this discussion focused on what publishing a book might look like in terms of money.
On average, my clients spend anywhere from $15,000 to $100,000+ publishing their books. Many spend around $20,000 to $60,000. Yes, you read that right: tens of thousands of dollars to publish a book.
Say whaaaat?
I know it sounds crazy. But in certain situations, that kind of dollar amount makes sense. For them, a book is a marketing spend for their business or a catalyst for their next level of impact. Their investment includes world-class design, strategic marketing (including PR), and other smart spending.
You might be thinking, “But even $15,000 sounds wildly steep!”
I get that too. Spending the equivalent of a used car on a book sounds . . . well, ridiculous. But if you have the funds and a clear purpose behind the investment (and path to ROI), let me assure you it’s not.
Here’s the thing: you can spend almost nothing to publish a book. If you totally DIY everything, you can get by with a few hundred dollars.
But if you want to publish a best-seller quality book, it requires an investment. Just consider this short list of some of the support you may need to hire:
Book coaching or education
Substantive/content editing
Copyediting
Proofreading
Cover design
Interior book design
Copywriting for book jacket and marketing materials
ISBN (the unique numbers that identify your book for sale)
E-book conversion
Audiobook production
Website design (and copywriting, proofreading, etc.)
Marketing and publicity
. . . and the list goes on
Each of these tasks are performed by humans who earn their living doing the thing you hire them for. Editors edit for a living. Designers design for a living. So just as you’d expect to pay a doctor for her expertise in medicine, expect to pay an expert for her expertise in books.
The thing is, for most of my clients, they will make back their investment many times over. Not through book sales but through the many doors a book opens for them: speaking engagements, new clients, and more. A client once said to me, “A book is worth a million dollars in revenue.” I have seen that to be true time and again.
(A side note: publishing a novel is a different discussion entirely, so please know I am speaking specifically to nonfiction books that have a tie to a bigger purpose—a catalyst to your impact.)
Let me encourage you with this: that investment doesn’t happen all at once. On average, when done efficiently and with excellence, a book takes nearly two years from start to publication. So don’t expect to plop down $20,000 today. Take it one step at a time and at the pace of cash, with a clear view of how that book will return your investment.
About Stacy Ennis, M.A.
Stacy Ennis is a best-selling author, coach, and speaker on a mission to help leaders clarify their ideas and harness their unique story to make an impact. She’s written or ghostwritten 17 books, coached dozens of authors, and impacted thousands of people through her work. Learn more at stacyennis.com.