• Why and How I Self-Published a Book

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    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
    form,
    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.

    I've
    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.

    Why
    did I self-publish?

    Advances are
    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.

    Most importantly,
    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
    worth it.

    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
    experience,
    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
    route anymore.

    Despite
    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
    reading bullshit.

    I recently
    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
    platitudes.

    Thinking about
    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.

    Read
    the rest of the article

    July
    23, 2011

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