A lot of authors want to write a book, sell it and make millions of money, but in reality, it doesn’t always work that way. The royalty you get from books can be so small that it might even be hard to break even on the money you spent in publishing your book. However, it doesn’t mean there aren’t other ways you can make money from your book. There are – and we are glad to share it with you.
- Be Like John Grisham: In this case, you can be like Grisham, Rowlings and the likes who give producers the opportunity to make a film adaptation of their book while they get tons of money in return. By giving producers movie rights, you can give your fans the opportunity to have a deeper experience of your book through the movie while you still get paid for it.
- Become a Speaker: Publishing a book establishes your credibility as an expert in the field you have written about. Thus, you can use the opportunity from your book to get speaking engagements and speak about the content of your book to an audience, pull out life lessons from your book and educate people.
- Become a Consultant:You can also become a consultant for government offices major corporations, foundations and the likes. Irrespective of what you have written about, you can offer information you have gathered through your research while writing your book to these organizations and get paid for it.
- Offer Coaching Services: As an author, you can offer coaching services to a lot of people. You can teach people on how to write a book You can also teach people a step by step guide on how to write a novel, and you can come up with your own course outline and packages on book writing to teach to people in exchange of money.
- Develop Ancillary Products: You can come up with great concepts from your book and use them to make money. Such as, selling a school bag with the face of the characters in your book or using the cover of your book to make t-shirts, water bottles, postcards and the likes.
- Sell Other Rights from your Book: Aside from selling your movie rights by giving producers to make a movie adaptation of your book, you can also sell other rights that come with your book such as reprint rights, foreign rights, audio rights, multimedia rights, and merchandising rights.
With these ideas, you can make a lot of money from your book aside from direct sales.
But it is crucial that you market your books. Once you market your book far and wide it would be easy to make multiple streams of income from it. You can check our blog post on How to market your book with little or no budget