How To Increase Your Profits Without Raising Prices

When most authors think of profit, they think of the money coming in.  But, profit isn’t tied only to income.  It’s also tied to how much you spend vs. how much you keep.

Why Self Publishing A Book May Not Be Profitable For You

If you were to self publish a book and print hard copies up front, you would need somewhere in the neighborhood of about $5,000 to turn your manuscript into a salable product.  This is a loose figure, and there are many variables that would factor into the final price, such as your editing costs, the cost of paper and ink at the time of printing, shipping costs, and other fees tacked on by the printer for various services.  If your book will have a hard cover rather than a soft cover, you can also expect to pay a higher price.

On top of the actual costs to create printed hard copies, you will also have storage costs (unless you have a heated garage ready and waiting for those pallets of books to arrive).

These are just some of the costs associated with self publishing a book, and as you can see it’s a costly endeavor.  Your expenses will take a huge chunk out of your potential profits long before a single copy is ever sold.

And, you can’t be certain your book will sell.  The average author who self publishes never sells more than 500 books, and many sell far fewer.  Most printers require you to print a minimum of 3,000 copies.  That means you’ve got 2,500 copies left over, sitting in your garage or storage.  This is the sad truth for the majority of self published authors.

How A Booklet Will Make You Richer, Faster

Booklets are a great way to cut costs on many levels.  First, they’re much smaller than a full length book.  A book usually contains more than 100 pages, while a booklet will contain far less.  This means less paper and ink are used, and your printing costs are cut to a mere fraction of what it would cost you to print a full length book.

Another plus for booklets is that since they are so much smaller than books, they are packed and shipped in boxes rather than on pallets. This saves you money on shipping.  It also means you can store your booklets in a closet at home rather than needing to clean out your garage or rent storage space.  You see, every month you’re paying rent to store books is another month that a little more of your profit is eaten away.

Also, With booklets, you won’t be required to print so many copies up front. This saves you money and gives you a chance to see how well your booklet will do in the market place before you print more copies.

All costs associated with booklets – from editing to printing and shipping – will be far less than what you would pay for a full length book.  By saving money up front, you won’t have to sell as many to break even, and therefore you can make a profit much sooner than you would with a full length book.  And, if your booklet does well, you can always write the full length book later and sell it to a ready and waiting market – the same market which purchased your booklet.

How To Keep Even MORE Money In Your Pocket

Once you make the decision to write a booklet, you are in business – the booklet publishing business.  And while you can start that business on a shoe string, you must ruthlessly monitor your costs in every area in order to keep costs down and profits up.  Every penny that goes out needlessly is a penny you could have kept in your pocket.

This means not only monitoring your obvious costs, such as printing, but also keeping track of other expenses you might not have thought of such as office supplies, postage, and telephone bills.  These costs can and do add up.  They will take away from your bottom line, so you must endeavor to keep them as low as you possibly can.

The creation of booklets is the major portion of your costs, but little costs can sneak up on you and eat away your profits if you don’t keep them in check.  Count every penny and make certain that you aren’t paying more for anything than you need to, and that everything you purchase is truly necessary for the business.

The more profit you have at the end of each month, the more money you have for yourself to live the way you want to!

To your riches!

Kim

PS: Would you like to know more ways to save money on your booklet’s creation and production so you can make a larger profit without a huge, up front expense?  Click here!

PPS: Don’t forget to click on one of the links at the top right of this page to subscribe so you never miss a single, important post!  Remember, it only takes ONE idea to start the riches flowing to you!  Also, if you like this post please share it on your favorite social website.  Thanks!

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