Expert Advice: 3 Tips to Make $100,000 Writing Books in 2024

Here are the top 10 insights from publishing expert Eric Jorgenson on turning books into profitable business assets that generate $100,000+ annually.

1. Self-published authors earn dramatically more per book than traditionally published authors

The financial disparity between self-publishing and traditional publishing is stark. Traditional publishing typically yields authors only 85 cents to $1 per book sold, even after earning out their advance. This happens because publishers take 85-90% of royalties, and literary agents claim another 15% of the author's remaining share.

Self-published authors can earn $5-7 per book through platforms like Amazon, with margins reaching $10-15 when selling directly. Eric Jorgenson's "Almanac of Naval Ravikant" has sold over a million copies across all formats, demonstrating the revenue potential of self-publishing. The key difference lies in ownership and control over pricing, distribution, and marketing decisions.

2. Books serve as powerful business assets beyond direct sales revenue

A book functions as a marketing tool that generates opportunities worth far more than book sales alone. Eric shares examples of consultants who view their $50,000 book investment as worthwhile if it brings just two high-value clients. Personal injury law consultants target 100 potential clients nationwide, knowing that landing two six-figure deals will justify the entire publishing expense.

Books act as credibility signals that unlock speaking engagements, podcast appearances, and business partnerships. Speakers often publish new books every two years to refresh their touring circuit and command higher fees. The book becomes a "bat signal" that attracts opportunities rather than a direct revenue source.

3. Traditional publishing trades author control for modest advances

Traditional publishers offer advances that sound impressive but come with significant strings attached. A $300,000 advance typically gets paid in four installments over 18+ months, functioning more like a loan against future royalties than free money. Authors must earn out this advance before seeing additional income, which many books never achieve.

Publishers retain creative control over covers, titles, pricing, and distribution strategies. They can reject audiobook narrators, impose unwanted cover designs, and prevent authors from buying their own books at wholesale prices for marketing purposes. This control extends to preventing authors from using their books strategically to grow their businesses.

4. Audience ownership creates sustainable publishing advantages

Authors with existing audiences possess built-in distribution that rivals traditional publishers. Nathan Barry's 55,000 paying customers and established platform provide more reliable book promotion than most publishing houses can offer. Bookstores stock books based on online sales performance, not publisher relationships.

Direct audience relationships enable authors to capture reader contact information through book-related bonuses and resources. This creates a marketing flywheel where each book sale potentially generates email subscribers for future book launches. Traditional publishers don't share customer data, making audience building significantly harder.

5. Book marketing requires treating books as long-term business investments

Successful book marketing demands viewing the project as a business rather than a creative endeavor. Authors should budget $25,000-50,000 beyond publishing costs for effective marketing campaigns. This includes speaking engagements, podcast tours, and strategic partnerships that extend the book's reach.

Self-published authors can reinvest book profits directly into marketing since they retain higher margins per sale. Traditional authors earning $1 per book have minimal budgets for promotion, while self-published authors earning $7 per book can spend $4-6 on customer acquisition while remaining profitable. This creates a compounding advantage over time.

6. Professional publishing services bridge the gap between DIY and traditional routes

Companies like Scribe Media offer professional publishing services without requiring authors to surrender ownership or creative control. These services handle editing, design, layout, and distribution for $24,000-54,000 depending on the level of support. Authors retain 100% of royalties and pricing control.

The "Scribe Professional" model uses expert interviewers and writers to extract knowledge from busy executives who lack time to write. This addresses the common problem of subject matter experts who have valuable content but struggle with the writing process. The resulting books maintain the author's voice while benefiting from professional writing skills.

7. Publishing companies can become "publishing house APIs" for creators

The future of publishing may involve service providers offering backend publishing support to creators who bring their own audiences and financing. This model separates the funding aspect of traditional publishing from the operational work of book production and distribution.

Creators with distribution capabilities can effectively run zero-overhead publishing houses by partnering with service providers like Scribe. They can acquire book rights, fund the publishing process, and retain royalties while outsourcing the technical aspects of book production. This creates opportunities for entrepreneur-publishers to build libraries of profitable titles.

8. Books enable premium pricing and direct sales opportunities

Self-published authors can leverage their books for high-margin direct sales, especially at speaking engagements and conferences. When authors control pricing and inventory, they can offer bulk sales to organizations and bundle books with other services. Speaking fees often include requirements to purchase books directly from the author at premium prices.

Direct sales eliminate platform fees and provide higher margins than retail channels. Authors can offer signed copies, special editions, or bundled packages that command premium pricing. This direct relationship with customers also enables upselling other products and services beyond the initial book purchase.

9. Time arbitrage and consistent execution build unassailable competitive advantages

The most successful author-entrepreneurs like Kevin Cho of Epic Gardening and Al Doan of Missouri Star Quilt Company built their empires through years of consistent content creation and audience building. Kevin started his gardening blog in 2013 and systematically reinvested profits into new channels and products over a decade.

These creators developed deep trust relationships with their audiences that can't be replicated quickly. Their decade-long content libraries and community relationships create moats that new competitors struggle to overcome. The time investment becomes a competitive advantage that money alone cannot purchase.

10. Integration of media and commerce creates powerful business flywheels

The combination of media companies and e-commerce businesses creates synergistic advantages that outcompete pure-play companies in either category. Media builds trust and provides content for product development, while commerce provides higher margins and customer acquisition cost advantages.

Epic Gardening demonstrates this model by using YouTube content to test product concepts, then launching successful e-commerce offerings based on audience feedback. The media provides free customer acquisition for commerce, while commerce profits fund expanded media production. This integrated approach led to Kevin acquiring established companies in his industry, including seed suppliers and garden bed manufacturers.