How Authors Really Make Money

This is a shortened version of an article I wrote for author Austin S. Camacho’s newsletter last fall. (And he contributed several quotes to my upcoming non-fiction book as well!)

We’ve all watched authors and celebrities receive huge, million-dollar book deals and thought, “Wow, I could live on that!”

Problem is, most authors don’t make that kind of money. Most authors make next to no money!

So how do a lot of authors make their money?

Speaking engagements!

Do you realize how much the top motivational speakers receive in speaking fees? Usually six figures! Those people make more money speaking than they do from book sales. The same thing applies to any expert in a chosen field. Try getting a top medical expert or corporate CEO or ex-president to come speak to your company and you’ll see what I mean.

We can’t all make six-figures, but the opportunity to make money as a professional speaker is out there for those who want it. Every day, businesses, organizations and schools are seeking speakers. They are looking for experts – for you! This is a wide-open door for non-fiction authors, and even fiction authors can tailor themselves to be experts on some subject. (After all, just as much research goes into a fictional book as does a non-fiction book!) As any successful author will tell you, the key is to diversify and offer more than just books – and speaking is a great way to branch out into other areas.

So, to the writer who wants to make money as an author – don’t quit your day job just yet! But start planning your path and editorial niche now. Research the market and consider all of the possibilities.
And for goodness sakes, think BIG!