6 ways to fund your book (before you’ve finished and published it!)

If you're employing a book mentor or coach, sourcing an editor, using an illustrator, engaging a designer, or going down the partnership or self-publishing route to get your book out there, you're going to need to fund your book.

In my recent blogs I've mentioned the importance of getting support in the areas where you don't excel, and I'm sure that you also want to create a book that looks great and is an effective marketing tool.

That's why in this week's blog I want to share with you 6 ways you can fund your book, get a return on your investment AND bring in an income BEFORE you've finished and published it.

And if you have any further ideas or strategies that you've used in addition to those I've shared, then please add them to the comments below.

1. Seek crowdfunding

When I wrote Book Marketing Made Simple, I interviewed four ladies who had sought crowdfunding for their books, and then I wrote a chapter on this topic.

Although not for the fainthearted, seeking support via crowdfunding is a good marketing tool, as long as you have a community of people who are willing to help you to fund it.

The secret to crowdfunding successfully is to have people ready to pledge their money when you go live with your crowdfunding page. Also have some valuable 'money can't buy' offers that people can only get when they support your crowdfunding bid. Click to order your copy of Book Marketing Made Simple to find out more.

2. Pre-sell your book

Another chapter in Book Marketing Made Simple focuses on pre-selling your book. This is a really good way of creating a buzz for your book before you've published.

Like crowdfunding, having a community of people interested in your book is essential. This is why I recommend that you start marketing your book from the day you start writing it, ideally building your mailing list and social media contacts, and telling your contacts about your book.

It's pretty easy to put a page on your website so that people can order (and pay for) your book in advance of its release - or ask a web designer to do it for you. I suggest you only do this if you're not seeking the Amazon bestseller accolade, although there's nothing stopping you designing a page where people can express their interest in your book instead, so that they can get some special launch bonuses.

3. Sell your packages and programmes

A new client recently came to me to get support to write and publish her book. She looked at the fees that we charge and said: "Well I need half a dozen clients on my course to recoup my investment, so that's doable". At a glance, she knew her figures. Do you know your figures?

Very few people can retire on the income from a book alone. However when you have packages and programmes that link to your book, not only will you attract new clients before you launch, it gives people the perfect next stage once they've purchased your book.

With another client, we worked on her packages at the early stage of writing her book. This meant that she started to charge what she was worth and was confident to up her game alongside writing it.

4. Sell multiple copies of your book

One great way of recouping your book investment quickly is by encouraging people to bulk-buy copies of your book.

Louise Evans, author of 5 Chairs 5 Choices, who I mentored in 2016, shared a brilliant example of how to do this successfully. When she was in the latter stages of publishing her book, the HR Director of one of the companies she was working for asked to pre-order 200 copies for her staff.

This is a great strategy if you work with corporates, or you know that your book could become essential reading in a specific industry or for those studying a specific course. Start by looking at your current connections and who you'd like to connect with to make this strategy work for you.

5. Get sponsorship for your book

One of my newer clients, Kate Barrett, has created a novel way to fund her book and add value to the book at the same time.

She is writing a book aimed towards marketers who work in e-commerce organisations and manage their company's email campaigns. She is seeking sponsorship from organisations who provide the platforms for these e-commerce campaigns and related tools.

For a set fee, they'll get the opportunity to promote themselves in the book and her readers will get the chance to see how the platforms and tools work in practice. This type of sponsorship is a win-win for all concerned.

When I spoke to Kate just before Christmas, she told me "I've already had 3 organisations sign up for the sponsorship deals, which has covered half of the publishing costs so far". Her best pieces of advice are to go to your current network where people already know and trust you, and be really clear what's in it for them.

6. Get brilliant PR

Emma Heptonstall - who published How to be a Lady Who Leaves with Librotas Books in 2017 - has had some amazing PR to promote her book. Although much of this success has happened post publication, she had some great PR leading up to her launch.

Most recently she has been working with our partners at Bookollective, and has featured in The Telegraph, The Sun, The Mirror, The New York Post, umpteen radio stations across the world, and she's also in conversations with a couple of TV channels.

This publicity has been great for her business. Not only has it raised her profile significantly, she can pinpoint how it has led to increased book and online course sales and has helped her to attract many new clients.

How will you fund and sell your book?

When you look at this list, which one appeals to you the most?

Although writing your book is likely to be your primary focus - because unless you have the book, then there's not much point in looking at the marketing tools! - when we work with clients, we also look at how they can use their book to grow their business.

You don't have to wait for your book to be published to see a return on your investment. By using one or more of the options in this blog will enable you to build your business alongside your book, which is probably why you wrote it in the first place.

If you'd like to chat about how we can support you with some of these strategies, do get in touch.

And if you've found other ways to fund your book, then I'd love you to leave a comment below.