by James Altucher: Why
I Would Rather Shoot Myself in the Head Than Own a Home
I just self-published
a book. How
to Be the Luckiest Person Alive. I published it in paperback
kindle form, and free PDF (see directions below to get free
PDF). The entire process took me three weeks. Using an established
publisher would’ve taken over a year.
written a prior post on my sales and advances on my first five books
which were all published with major publishers. (Also, including
a part about how my wife finally fell for me). But I'm never going
to publish in the morgue of the publishing industry again. This
post today is about why I did it and how you can do it.
The book publishing
industry is dead and they don't know it. It's like
how the typewriter industry died. And how companies like Blockbuster
and Borders can't survive. And the entire music industry is dying.
And broadcast television might be on the way. And the tablet industry
is the first sign that companies like DELL might be in major trouble.
And companies like Sirius mean the radio industry is dead.
did I self-publish?
quickly going to zero. Margins are going to zero for publishers.
There's no financial benefit for going with a publisher if advances
are going to zero and royalties are a few percentage points. The
publishing industry does minimal editing. The time between book
acceptance and release is too long (often a year or more). That's
insane and makes zero sense in a print-on-demand world
when kindle versions are outselling print versions.
the book industry sells u201Cbooksu201D. What they need to do is sell their
u201Cauthorsu201D. Authors now are brands, they are businesses, they are
mini-empires. Publishers do nothing to help 95% of their authors
build their platforms and their own brands. This would increase
author loyalty and make the lack of a meaningful advance almost
I'll give you
a quick example. I've published five books with major publishers.
The majority of books now are sold through Amazon. Not a single
publisher told me I can log into
Amazon Author Central, create an author's page, link my author's
page to my blog, upload a video,
have my twitter feed in there, have an FAQ
in there, and all the other basic tools Amazon uses to
market your book. Why? This is the world's biggest bookseller. Why
wasn't I told about a basic marketing platform I could use? I just
learned about it last week after writing books for eight years.
Now I have it all hooked up and I have a feeling I've only begun
to explore the Author Central area and what Amazon can do for me.
I don't want
to trash the publishers. Again, I've written all about my publishing
complete with sales numbers. Here's also another article
about my reviews on one of the books I've published recently
with a major publisher. I completely open every kimono (and its
pretty hideous inside that kimono). They are all hard working people
and have done good jobs but it's just not worth it to me to go that
my five books I am sure zero publishers would've published u201CHow
to Be the Luckiest Person Alive!u201D It's not in
my finance core. Publishers, just like in any business, put you
in your little corner and you have to stay there. They want to pigeon-hole
you. If you try to get up and go to a different corner they SLAP
you down. So publishers would ignore the topic of my book, despite
the popularity of my blog which I would be able to demonstrate to
them with the statistics. The statistics show that the less
I spoke about finance, the more popular my blog got. People
want more happiness, not more ways they can lose their money
looked at the Bookscan numbers for a bunch of very well known finance
authors. They were all close to zero. Plus, in the link above I
reveal all my numbers on my books. Again, almost nothing. Know why?
Because people know that reading these books won't do anything for
them. Very few people make money on stocks.
The stock market is largely a scam. Nobody makes money owning
real estate anymore. Personal finance is a joke with zero percent
interest rates. And, to be honest, most self-help books are written
by people with no experience and are just filled with meaningless
finance is the opposite of the true goal, which is being happy.
In this book, I talk about my many failures. Going
dead broke after making millions. Rising from the gutter. Getting
fired from jobs, kicked out of school, losing a marriage, being
at a crossroads in life and figuring out which way to go, and all
the times where I could've used a book like this to figure out how
to grow from the core inward to find happiness, success, and the
other tools I needed to come out of the hole and find the motivation
to achieve some good for both myself and the world. This book describes
that and the specific techniques I used. I'm brutally honest, to
the point of risking people hating me. I've lost friends (at least
temporarily) over the material in this book.