A student recently asked me whether being a published author is something that can be financially beneficial. This question was posed to me immediately after I had given a lecture on the keys to success in self-publication. It was easy for me to understand where the student was coming from: given the fact that today’s generation is very money-minded, and they will only do something if there is a way in which they can directly benefit financially from it. In answering the student, I pointed out that being a published author is indeed something that can be beneficial financially: and that there are actually four ways in which one can benefit financially from being a published author.
The first way in which you can benefit financially from being a published author is where you get to earn royalties from your published works. The income you earn this way may be modest. But it is money nonetheless. Using it, you can, for instance, be able to settle your Gap card bills.
The second way in which you can benefit financially from being a published author is where you get teaching positions, on account of your published works. Being a published author leads to you being regarded as ‘an authority’, hence the teaching positions.
The third way in which you can benefit financially from being a published is where you get ‘speaking opportunities’ on account of your published works. Again, being a published author tends to lead into you being viewed as ‘an authority’ hence the speaking (and consultancy) opportunities.
The fourth way in which you stand to benefit money-wise from being a published author is where you are requested to help influence the society in certain ways – and you are paid for the effort. An author is an influential person to the audience he writes for. The people who seek the influence the society do sometimes seek help from various folks who have real influence, to help them shape the mindsets of the society in various ways. The financial rewards for this sort of activity are often hefty, though they tend to come indirectly: as speaking opportunities, book tour payments and so on.