Every night I watch an episode of The Self-Publishing Podcast and last night’s show really resonated with me. We write because we love to – because it’s our passion, because we don’t feel complete without doing so. Yet it’s not a road to riches for most people. You can eak out a living if you’re lucky otherwise you try to write around your daily job (the one that feeds your family). Yet there are so many potential revenue streams from every single book you write – audio rights, print, digital, overseas territory etc. and many of us don’t fully exploit these routes to enhanced revenue.
In this show Joanna Penn (of The Creative Penn) details all the additional options. It’s a fabulous reservoir of information and well worth a watch. Be warned there is locker room language for those of you with a delicate ear.
Maximise your writing income
If you want to maximise your writing income, don’t think of each of your books as a single product consider it a product range that consists of:
1. English language digital – divided into regional and country rights
2, English language print- divided into regional and country rights
3. English language audio – divided into regional and country rights
4. All the languages it can be translated into (German, Spanish, French, Arabic etc.) and then those rights per country that speaks that language
5. Graphic novel rights – divided into regional and country rights
There are over 200 countries around the world- so imagine one book x 200 countries + (translations x countries) x digital & print & audio. Boy does that turns one book into a huge number of potential revenue streams that you can explore and exploit. You can also explore merchandising rights or create a product range on stores like Zazzle to add physical products to your range. The scope is endless – really only limited by your imagination, time and willingness to explore the potential.
To sell your rights in different countries Joanna recommended two companies Pubmatch.com and iprlicense.com so they may be a good place to start looking for new revenue streams. I hope you find the gold at the end of the rainbow.
Bye for now.