There are many strategies to make six figures as an author, but there are ten core principles that any successful writer must follow to achieve this type of success. Now, I will share them with you.
#1. Create a quality product
First and foremost, you get paid for bringing value to the marketplace. You do not get paid for books. You get paid for bringing value. So if you release a hundred cheap, low-quality books, you won’t make six figures. Everything You release must have a standard of excellence, especially if you are an independently published author. People tend to discount mistakes in a traditionally published book with little thought. But if they find an error in an indie book, they make a big deal of it. Why do we have this double standard? I don’t know? I know that it is a real problem, and you must watch this. Nobody’s perfect but make sure everything you publish is well written and edited to the best of your ability.
#2. Think of yourself as an entrepreneur
Most successful authors think of themselves as entrepreneurs. They don’t think of themselves as only a writer. They think of themselves as a business owner. I am an author, but I am also a speaker, a businesswoman, a podcaster, a YouTuber, a blogger, and a marketing junkie. I’m sure I could add more, but you get the point. I am officially an entrepreneur. I write books, yes, but my business is Synova Ink Publishing. As an entrepreneur, I have a written business plan for Synova Ink Publishing, and every so often, I will refer back to it. If I am not furthering my goals, I will find another path. The key is I think of myself as a business owner.
#3. Know your target audience
Every successful author out there knows their target audience. You can’t be everything to everyone. You’re not going to be everyone’s cup of tea. That’s okay. You must find the people interested in your type of work and market to them. Don’t advertise to the masses. You’ll waste a bunch of time and money and won’t see very many results. The point is to find your target audience and focus on them. Provide value to them and forget the rest.
#4. Have a marathon mindset
Successful Indie authors have a marathon mindset. They don’t just work on one book at a time and focus on that alone. They don’t put all their hopes and dreams into their first book and then never write another one. Every successful six-figure author out there has a series of books available.
#5. Building a mailing list
The money is in the list. You might think JK Rowling doesn’t have a mailing list. She might not, but there are millions of Harry Potter fans on a mailing list, and you can guarantee that her publishing house has them on a list. Now, if you are your own publishing house, you better have a list. Nowadays, traditionally published authors have to have their own list before reaching success. So go ahead and start building a list of email addresses. Start with your friends and family. I don’t care who it is. Start a list later on. You can narrow it down to your target audience. But start somewhere
#6. Think outside of the paperback
You need to think outside of the confines of a paperback book. There are ways to provide value to the marketplace as a writer beyond the paper. Of course, ebooks are available for those who like to read on their phones. There are audiobooks for those who prefer to listen in their cars. But there is even more available besides those three options. I’ll give you an example.
I used to write about cold cases that needed more publicity for those of you who have just started following me. I worked with the victim’s family members to raise awareness about their case, hoping to bring in leads for law enforcement. So how did I do this? I realized that every cold case needed several things. I highlighted the story by writing an article for my blog.
Then I made a series of YouTube videos about the case for my channel. I also had a podcast where I reviewed the cases and sometimes interviewed the victim’s family members. I also put their story in one of my case files books at the end of the year. So how did this help raise awareness about the story?
Instead of the story being in one place, we ended up with a blog post, YouTube video, a podcast episode, a paperback book, an ebook, and an audiobook. So, I had taken the same story and recreated it six times. How many more people have I reached by saying the same thing six different ways? Think about this in your business. How many more people will see your story if you share it in different ways?
#7. Keep learning
William S. Burroughs once said, “when you stop growing, you start dying.” The more you learn and know, the more your business can grow and help more people. Trends are constantly changing, so you must keep learning about your industry. Now the trends in the fantasy industry aren’t the same for True Crime writers, and they are definitely different in the coaching industry. I don’t study the trends for Fantasy writers except for on the occasion when I am coaching a fantasy writer. I do constantly study marketing, personal development, and business.
#8. Avoid burnout
I struggle with this. I will be honest with you. It’s easy to get wrapped up in the process that you forget yourself. Focus on organizing your projects and schedule in time for yourself. Learn to say no to projects and people that don’t serve your highest goals. It’s hard, but if you don’t take care of that beautiful brain of yours, you won’t be able to write.
- Find something bigger than yourself
When I started writing, I started writing things that I enjoyed. I quickly learned that this was not enough to keep me focused for the long run. Remember, we’re on a marathon here. Once I found my purpose, I got a drive within me to keep me going. When you’re working for something bigger than yourself, and you’re trying to make the world a better place, it pulls you through the hard times. It helps keep you focused and moving when you’re tired, when you’re sick, and when you feel like giving up. Find a purpose outside of yourself for your business.
No man is an island. We’ve all heard that saying, but we tend to be more reclusive as writers. We’re more comfortable in our own space, typing away hiding in our imagination. Unfortunately, that is not conducive to good business practice. Networking is vital when it comes to building a business. Find chances to network both online and in person. Don’t forget to cross-promote those writers in your genre too. By cross-promoting them, you actually open up their audience to you.
If you enjoy this content don’t forget to sign up for Synova’s Simply Biz Newsletter and get your copy of her Free Guide: Overcoming Writer’s Block.
If you’d like even more help with your writing business, Synova has recently launched a course for writers.
Author Biz 101 Writer’s Course:
This course will focus on helping writers develop their craft and show them how to build a business from their writing.
For more information check out Synova’s store page HERE
For more free tips about writing check out Synova’s Simply Biz Facebook Group