With every opportunity, there is a cost of participation. With every pursuit of an idea, there is a necessary withdrawal of resources. A very wise Man once said,
For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it.
—Luke 14:23
You are at a place now that you have finished writing your book. Your heart's passion or life message is down on paper—all 100,000 words. LOL! I hope not that many. But however many words you penned, you've finally completed the task that almost killed you. Yes, I am very aware of how deep and heart wrenching the writing process can be. But no use crying over that. It's now time to cross the finish line with this thing.
What I have come to realize is that many independent authors don't fully consider how much money they need to budget to get a very nice, polished book product to properly represent them and their message. Authors have told me that they wrote their book to add to their credibility or because people who hear about their life story want it in book form because of how they were inspired. If this is the case it is important that the author develop a financial picture for what it will take to meet the demand of their readers and their career or professional aspirations.
Now, as I approach this topic, please know that I know there is more than one way to accomplish this task. What I am sharing with you is based on my ten years of experience working in both the traditional trade book industry as well as working with and advising independent authors. What I am going to give here is a basic list of the steps you should consider taking when working to get your book written, edited, and published as well as approximate costs for each step. I believe this will give you an idea of what to expect from the beginning and will help you navigate the best and most financially appropriate direction for publishing your book.
Again, this is not the bible; it is only a guide.
Potential Costs for Self-Publishing
1. Developmental editing (comes before writing in some cases and includes developing the theme, target audience, tone, outline, chapter organization, etc.; may also include substantive editing) - from $3500
2. Substantive/content editing/book doctoring - from $2500
3. Copyediting/line editing - from $1000
4. Typesetting/page layout - from $2 per page (250 words per page; average book is 240 pages)
5. Proofreading - from $500
6. Book cover design - from $300
7. Printing costs - varies
8. File conversion and upload fees for ebook - varies
Approximate total cost to publish a quality book $5,000 - $10,000 + printing and ebook conversion costs.
After they finish writing their book, most authors start at step 3 but really need to start at least at step 2. My recommendation would be to start at step one and see if you can skip to step 3 and go on from there. Getting advice from an industry professional before you spend all your sweat and tears on writing a book may save you a lot of rewriting and adjusting after the fact. I wouldn't ever recommend starting at step 5 after just completing the writing for your book.
Marketing and promotions may be another line item to add to the above list. I posted a simple and free social media marketing plan you can customize for your purposes that may suffice. Also for a description of the levels of editing I talk about above, you can click here.
Ghostwriting is another option for those who have a book idea but are honest enough to know they don't have the chops or the time to write their own book. This is a very respectable option. It is not cheating or lying. Ghostwriting is a bona fide skill and profession, and many ghostwriters are phenomenally talented and gifted at making others' ideas and concepts shine. The cost for ghostwriting can start as low as $5,000, and many times includes developmental editing and substantive editing.
Listen, this is your baby. Taking the time to carefully weigh the cost to see it grow into something you will be proud of is just simply good parenting. I hope this list gives you some beginning steps as you plan to reach your goals and realize your dreams of becoming a successful published author.