Why You Should Become an Authorpreneur
As an author of 17 books I have a lot to say when it comes to authorpreneurship. In a world teeming with aspiring authors, the path to success can often feel elusive.
But for those who dare to dream bigger and aspire to create a lasting impact, there lies a more rewarding journey called authorpreneurship.
There is a difference between being an author and being an authorpreneur. An author writes and publishes as a hobby but an authorpreneur has mastered the business of his or her writing gift.
An authorpreneur transcends the conventional boundaries of writing, transforming their literary craft into a thriving enterprise. Think of legendary authors like J.K. Rowling (Harry Potter) and Robert Ludlum (Bourne Identity), whose books became global sensations and even blockbuster movies.
In this blog post, we will explore why you should not be content with merely being an author, but instead, embark on the transformative journey to become an author-preneur.
If you would like to get a copy of my 17th book titled “Ignite Your Creativity”, visit this link.
1. Being an Author is not enough
The sheer number of books published each year makes it challenging for authors to stand out and achieve substantial success.
Many talented writers struggle to sell more than a few hundred copies of their work, leaving them with meager earnings and unfulfilled dreams.
In the book titled “The Millionaire Mind”, Thomas J. Stanley, Ph. D. said “there are about 300,000 books published every year and two out of three never makes it to the bookstores.
Of these 100,000 that do get distributed, few ever sell 1,000,000 copies or more” To avoid becoming a statistic in this crowded market, one must evolve from being a mere author to an authorpreneur.
This shift in mindset involves mastering the business side of writing, learning to market and monetize your craft effectively.
2. Gain Financial Freedom
Becoming an authorpreneur offers you the potential to achieve financial freedom. Unlike traditional authors who rely solely on book sales, author-preneurs diversify their income streams.
By developing and monetizing their expertise through various avenues like speaking engagements, webinars, online courses, and more, author-preneurs can create a steady stream of revenue that is not solely reliant on book sales.
3. Make Millions Regardless of Bestsellers
While every author dreams of hitting the bestseller lists, author-preneurs understand that their financial success is not solely dependent on having a blockbuster hit.
Authors are satisfied with being able to polish their talent into a desirable skill but author-preneurs are not satisfied until they can master the business of their talent.
They move from talent to skill and from skill to business and make a killing out of it monthly.
If you become an author-preneur, you stand the chance of achieving better result than those who have become authors of bestsellers today.
But even if you do not sell a million copies of your books, being an author and graduating to becoming an author-preneur can bring you into superabundance.
“You do not need to sell millions of books to make millions from your work as an author”.
Your book does not need to be on Amazon’s bestseller list to make millions from your craft.
Now, there is absolutely nothing wrong with such achievements as they are great ones. However, you can mine the financial potential of your book idea without being a New York Times bestselling author.
It is all about having the right strategies that would help you get your message out there in any way possible.
By leveraging their expertise and knowledge through various mediums, such as webinars and seminars, they can generate substantial income irrespective of their book’s popularity.
This opens up new opportunities and allows for consistent earnings.
Read this article if you would like to learn about what hot topics to write a book about: What Should I Write a Book About? 14 Hot Book Ideas
4. Escape Unemployment or Underemployment
I know a nursing mother of three in Port-Harcourt, Nigeria who had only a measly $10 in her account both home and abroad. She was so broke and her husband was out of job for one year.
She discovered the power of the information age and decided to become an author-preneur.
She began to teach people on social media what she knew they were curious about or needed help with for free. She then wrote an eBook of about 48 pages.
She sold that eBook for $25 to different ladies (her target niche is ladies) and she started earning $12,000 monthly from sales of her eBooks and other services that sprang out from becoming an author-preneur.
She was able to support her husband who was out of job for a year in the running of family and home expenses.
She works from home and markets her little book on Instagram but earns several times more than what most people who go to regular 9 to 5s earn per month.
Author-preneurship offers an escape route from the shackles of underemployment or job dissatisfaction.
Instead of settling for a job that fails to fulfill your passions, you can create a business empire around your writing.
By developing your writing career alongside your regular job, you can eventually transition to full-time author-preneurship when your earnings can sustain you comfortably.
5. Build a Lifetime Career
Authorpreneurship provides the chance to create a lasting legacy.
Unlike traditional jobs with retirement ages, being an author-preneur enables you to build a lifetime career around your passion.
Your books and intellectual properties can continue generating revenue long after they were published, ensuring financial security for you and your family.
6. Earn Lifetime Royalties
The beauty of authorpreneurship lies in the lifetime royalties you can earn from your intellectual properties.
Unlike regular jobs where payment ends when you retire, your books and other products can continue earning you income throughout your life.
This passive income stream can secure your financial future and even be passed on to your descendants.
7. Secure High-Paying Speaking Gigs
Authorpreneurs often find themselves in high demand as speakers.
The authority they establish through their written works can lead to lucrative speaking engagements, where they get paid handsomely to share their expertise and stories with eager audiences.
8. Build Multiple Streams of Income
Authorpreneurs excel in creating multiple streams of income from their writing.
From book sales to digital downloads, online courses, coaching, and more, they leverage their content to generate revenue from various sources, creating a robust financial foundation.
9. Stand Out from the Crowd
In a saturated market of authors, authorpreneurship sets you apart from the crowd.
As an authorpreneur, you become known not only for your writing but also for your ability to create a thriving business around your literary endeavors.
This distinctiveness boosts your reputation and opens doors to exciting opportunities.
Being an author-preneur makes you counted among those writers who make a living from making a difference and we only have a few of them around. Would you rather stand aloof or join the train? The choice is all yours!
Conclusion: Become an Authorpreneur today
Embracing author-preneurship takes your writing passion to new heights, transcending the boundaries of traditional authorship.
By mastering the art of turning your words into a profitable enterprise, you gain financial freedom, create a lifetime career, and establish multiple streams of income.
Authorpreneurship empowers you to break free from the limitations of traditional authorship and blaze a trail towards a rewarding and fulfilling journey in the world of literature and entrepreneurship.
So, dare to dream bigger, embrace your potential, and step into the realm of author-preneurship today!
This blog was culled from my book titled “How to Make Millions as an Author-preneur”. You can grab a copy of this book here.