Are self-help books a golden ticket to financial success? Do they open the doorway to dozens of new revenue streams? Do self-help books make money? is the big question many aspiring authors, coaches, and entrepreneurs ponder as they consider writing a self-help book.
In this blog post, we’re diving headfirst into self-help book profitability. Buckle up as we explore the ins and outs of making money in the self-help genre. From understanding reader demographics to discovering the potential earnings of self-publishing, we’re uncovering all the secrets to help you navigate this lucrative market.
Do self-help books make money? Yes, yes they do. Let’s talk about how and how much.
Self-help book industry statistics: Unveiling a lucrative market (and changing the world at the same time.)
Let’s talk self-help book sales statistics. The self-help book industry is experiencing unprecedented growth, with personal development books showing a remarkable 20% year-over-year increase since 2013.
According to a study by Custom Market Insights, the self-improvement market surged to over $38.3 billion in 2022 and continued its upward trajectory in 2023, reaching a staggering $41 billion.
These figures underscore the immense value and profitability of self-help books.
Moreover, with the burgeoning demand for personal development and wellness content, experts project that by 2032, the self-help market will double to a staggering $81.6 billion.
Your self-help books = a money making machine
Ready to turn your self-help book into a cash cow? Get ready to explore the fun and exciting world of authorpreneurship, where creativity meets profitability!
Here are some of the many ways authors like you make money with a single self-help book:
- Online and in-person courses: Transform your self-help book content into comprehensive courses that offer deeper insights and practical exercises for your audience.
- Workbooks: Develop accompanying workbooks or journals to complement your self-help book, providing readers with actionable prompts and exercises to apply the concepts they’ve learned.
- Additional books on the same topic: Expand your self-help book series by delving deeper into specific aspects of the topic or exploring related themes to cater to diverse reader interests.
- Coaching: Leverage your expertise and credibility as a self-help author to offer coaching services, guiding individuals through personalized strategies and techniques to achieve their goals.
- Memberships and mastermind groups: Establish exclusive membership programs or mastermind groups where readers can access ongoing support, resources, and community interaction to foster personal growth and development.
- Paid speaking engagements: Utilize your self-help book as a platform to secure paid speaking opportunities at events, conferences, and workshops, sharing your insights and inspiring audiences with your message.
- New clients: Attract potential clients who resonate with your self-help book’s message and approach, leading to opportunities for consulting, mentorship, or other professional services aligned with your expertise.
What demographic buys self-help books?
Is there a market for self-help books? You might be wondering, who’s reaching for those self-help books? Well, it turns out, it’s a diverse crowd! From millennials seeking career advice to boomers looking for retirement wisdom, and everyone in between – self-help books cater to folks from all walks of life. So, if you’re thinking about penning your own masterpiece, consider who might benefit most (ahem, maybe your current clients?) from your wisdom and tailor your message accordingly!
What demographic buys the most self-help books? While self-help books have a diverse audience, they’re particularly popular among:
- Middle- and upper-income adults (skewing female)
- Ages 30 to 60
- And those who are seeking personal growth, self-improvement, or solutions to specific challenges in their lives. 📚
Is self-publishing still profitable?
Is self-publishing still profitable? Uh, is the sky still blue? Cha-ching! Absolutely! In my book coaching practice, I serve a fantastic and fairly unusual niche. In addition to the first-time authors I coach, most of my clients are 6- and 7-figure authors, and ALL of them are either entirely self-published, or hybrid-published (meaning they’re both independently publishing and also have one or more titles with a traditional publisher – like me.)
How much money can you make if you self-publish a book? Millions. No, seriously. I have lots of book coaching clients who are doing just that, including Renee Rose, Vanessa Vale, Skye Warren, Lee Savino, Theodora Taylor, and many more. In my long experience as a traditionally-published author and a self-published author (aka a hybrid author) self-publishing is generally significantly more profitable than traditional publishing.
How long does it take to write a self-help book?
Now you’re talking! How long does it take to write a self-help book? It depends on a lot of factors including how fast you write, how determined you are, and how much guidance you have.
With dedication, it’s absolutely doable to write your self-help book in just 10 to 30 days.
Try this: Write a Self-help Book in 14 Days: The proven, step-by-step plan to easily write your nonfiction book—from the bestselling author coach
Is there a course for writing a selfhelp book?
Is there a course for writing a selfhelp book? Absolutely, and it’s a doozy.
Ever wondered if there’s a shortcut to writing your self-help book? Well, guess what? There is! Enrolling in a writing course can be like having a personal guide leading you through the jungle of book creation.
And hey, if you’re looking for a turbo boost, check out the Write a Self-Help Book in 30 Days course! It’s like the express lane to authorship success! 🚀
