For many authors, writing a book is the only way of earning money with their craft. But there is much more to a manuscript than what you can imagine! Your book has a secret ingredient which is called “Copyright.” Every story you write, every novel, is a package of copyrights.
You can sell parts of your book to:
- one publisher
- other parts to another publisher
- some parts to overseas markets
- other parts to audio
- as e-Books or Singles
- to game companies
- maybe even to Hollywood’s film industry
- use parts of it to submit to contests
- divide it into chapters and sell to magazines
- or to web publishers …
The list goes on and on and on. But what you need to do:
- learn all about copyright to really understand this
- realize that each piece can be a cash stream for you
- you don’t even have to use your name, get a pen name or even several
You can sell these manuscript copyrights or uses in several ways:
- First Serial Rights
- First Serial Right Electronic
- Second Serial Right
- Subsidiary Rights
Why not additionally create an audio-book from your novel or even from non-fiction? Audio-books are very popular! Your readers can listen to your audio-books, which can easily double their book consumption because they are using time, that previously was not available and turning it into valuable “reading” time.
Readers can listen in their car, bus, train, plane… while exercising, walking or hiking, on the beach or while doing mundane tasks around the house or yard. Special needs readers, such as blind ones will have access to your written words in form of an audio-book..
Now it is possible to write 5,000 (better 10,000) to 30,000 word articles, Amazon calls them “Kindle Singles” and sells them online. A prominent author of these Kindle Singles is Stephen King, with his Single “Mile 81” the current top seller (as of this writing).
Split Your Book into Single Articles
Very few emerging writers realize that they can sell their magazine articles over and over again. As long as the markets don’t overlap, you can sell exactly the same article as many times as you like and, in this globally connected marketplace, it is easier than you think.
However, you can only sell first rights, either print or electronic, once for the same piece. After that, unless you change the article significantly, you must offer it as a reprint for a lower fee. If you change the article, you can sell it again for first rights.
Then tweak it into an 800-word article for a national US daily. Subsequently, you make some minor changes to slant the piece for a travel magazine. Each time, you are able to sell it for first rights. Continue to sell it, however, look out for new markets in other English language markets overseas.
Reselling your work makes good business and time management sense –
it reduces the energy you expend and increases your revenue.