The best thing a self-published writer that has a book or two selling well can do is to keep writing as many more novels as fast as possible. Just keep the quality up and don’t let the pressure of getting sequels out make you forego quality. In my case the opposite should be true because I can now afford to have all of my stories professionally edited and am in the process of doing that. While I could “afford” to pay the cost before, I just could not justify it. I knew that most self-published books never sell even 200 copies in a year, so I could not see throwing money at it. If CS and KDP had not made self-publishing free, I would never have done it because it is a losing proposition for 99% of writers. I wrote my first two-book story because I was compelled to. My moneymaker was written AS a moneymaker. Now I write for enjoyment AND money. Each book helps to sell the others. As long as I can keep making more money by writing more novels (and seeing ALL of my novels sell better as a result), I will concentrate on writing better and faster. Since writing takes a lot of time, I have little left for promoting.
In case you may think I do not know about advertising, I have been a small business owner for many decades and retired on my own money in my fifties. I NEVER advertised except in the phone book! I was working night and day and going years without a day off. Why should I have advertised when I had to retire because I was already working myself to death? I recently had to foreclose on commercial property I was holding the mortgage on and went back into business simply because you cannot give real estate away right now. I am already so busy it cuts into my writing time. And, no, I have not advertised at all. My old customers are coming back--after more than four years of me being retired! On the other side of things, I talked to a cop who has written a few crime mysteries. He has spent every day off traveling around the Southeast, from Florida all the way to Texas and everywhere in between, going to book signings. He goes on any radio show that will have him and simply promotes anyway he can while not working as a cop. His sales are terrible! His Amazon ranking stinks. We self-published writers do have one advantage over those who go the agent/publisher way: We have years--the rest of our lives--to sell our novels. Traditionally published writers have about three months. If they do not sell they are sent back to the publisher (or at least the front cover) and never sold. Then the party is over, and the writer will have an even harder time getting his second novel published. Every month now, I make as much or more than most writers’ one-time advance, and most novels never sell enough copies for the writer to get anything more than his advance. There is one self-published writer who posts on the KDP forum who makes over $400,000 a year.
That said, I consider my royalties an extra revenue stream to enjoy, but not count on. Who knows about tomorrow?
KDP= Kindle Direct Publishing. It is the Kindle publishing part of Amazon like CreateSpace is the Amazon paperback publishing part. It is the same as this community but for Kindle publishing. At the bottom of Amazon’s Webpage click on Self-pushing with Amazon just like going here, but you then click on Kindle Publishing instead of CS. You can ask about publishing through Amazon’s Kindle there. “Notjohn” will answer your questions (and other people), but watch out for Divorce Doctor. He basically just spams the community and is a smarta$$.
Thank for the reply. My publications aren't on Kindle yet. They are still books. I know I need to do that, as it is the wave of the future. I just have to figure out how to do it. Just haven't gotten there yet, but I will! Thanks Sparky1
Only two things I learned from the multi-level scams I got involved with are:
1. Do something once and get paid for it again and again (royalties from the books I've written and published).
2. Multiple streams of income (the more books you have on the market, the more sales you are going to make).
That, I believe, distills your post to its essence.
www.smashwords.com is another publisher for digital formats. Very easy to use if you have a text only book. Anyhow they take one file and format it for several different digital down load vendors - Sony, Deisel, Nook (like Kindle) through Barnes and Nobles, Kobo, Apple, and Scrollmotion. In addition they sell it through their site as well. Just opens up more options is all. So far Nook is doing the best for me but mind you have not marketed at all. I'm waiting on my paper back which should be ready in a few days.