How to Create Our Book Budget: Key Factors to Consider

As aspiring authors, we frequently ask the question of how to create our book budget. Just this week as I was co-hosting the first self-publishing workshop of a series, this question came up in both sessions. While we know there are costs involved, many of us have no idea how to create our book budget, since this is all new to us.

Check out the new video on how to create our book budget.

Check out the post on the Reedsy siie for estimates for the various publishing components. This is great input for your book budget.

Let’s review the components we need for writing and publishing our books before we talk about the estimated investment and budget.

The requirements include:

Clarity of our topic and audience. (What is our core message and who are we writing the book for)
Time to write (The book will not write itself!)
Beta readers (Securing invaluable feedback and commentary from our ideal readers will make the book even more powerful.)
Editor (None of us can edit our own work!)
Cover design (A design that is eye-catching to our ideal readers and draws them in)
Interior layout and design (Design of the interior is one of the things that differentiates our book as professional and polished.)
Marketing plan and focus (No one will know about our big message, story, and book unless we market and promote it.)
Technical expertise to upload and set up the book on Amazon and any other book platforms

Some of these have no dollar cost associated. Others require either a time investment to learn how to do them ourselves or an investment in getting the help we need. For all of us, there is some level of investment if we want to produce a high quality book that attracts our ideal readers.

Key Factors to Consider

When assessing how to create our book budget, here are some key factors to consider. With each decision, we are balancing time, cost, and quality.

Remember that our name as the author is tied to this book. The impression created in the minds of readers is critical. This plays into how to create our book budget and make decisions on how best to invest to meet that goal.

Do you have more time than dollars to invest in the book creation? If so, you may need to bootstrap the effort and learn how to do much of the work yourself. Go into this being fully aware that there is a learning curve and both focus and time are required. For example, while there are tools for laying out the interior of your book, learning how to format and design the book so it looks professional and polished will take much more time than engaging an expert who does this for a living and can do it much faster.

What resources can you access to help you complete the book project? Who in your current network has the required skills to help? For example, if you are part of a writing group whose mission is to critique content, can you draw on some of those resources as beta readers for your book? Is there a professional editor in the group who has experience with your genre and may take on your project for a special price for members of the group? Be creative in identifying resources that you may be able to barter, trade, or make special arrangements for the key components you need to outsource.

Do you have more money than time? If you are running a successful business, time is a very precious commodity. Rather than spending time learning how to do the various components, focus on writing the first draft and securing the first round of feedback. Outsource the editing, cover design, and interior design. If you need help with creating the marketing plan for the book that integrates with your business and/or you want to do a big launch, engage professionals skilled in these areas to help you.

Another thing to keep in mind as we think about how to create our book budget is that, as in other things in life, we do get what we pay for. Regardless of how we source the work, pay careful attention to the quality of what is delivered. Our goal is to create a book that shines and creates the impression we want to make on both our readers and the world.

While pricing for the key components of publishing vary greatly, the folks at Reedsy, a firm that provides professional talent to authors of all genres, have created an article that provides great insights into the costs for self publishing to help us create our book budget. How Much Does it Cost to Self-Publish a Book? – Data from the Reedsy Marketplace

Need assistance with your book? Let’s talk!