I’m in the process of finalizing my first non-fiction book for publication. (So stoked!) I’ll reveal more about that soon, but today I want to explore a topic all indie authors face: where to invest our money.

It’s no mystery that self-publishing requires a financial investment. The last thing any serious author should do is write a book, attempt to edit it themselves, slap on a makeshift cover and send it to Amazon. But we also need to be mindful of that little thing called a budget.

Most indie authors don’t make huge income quickly or at all through their books—though both are possible. It takes awhile for most of us to break even upon publishing, then go on to profit. (It took me a good year to start profiting from In Her Shadow.) Many companies profit far more than writers from self-publishing, and there can be a fine line between a worthy investment and being taken advantage of.

1. Quality cover design — worth the investment

In some cases cover cheapness really shows, and could serve as the only sign a writer published her own book versus was published traditionally. There’s no shame in self-publishing, of course, but we want our books to be as respected as those on traditional shelves. And folks really do judge books by their covers.

Do your research. Shop around, ask for artist work samples and referrals from trusted author friends whose covers you adore. Go to Google Images and search for your genre, noting which covers immediately grab your eye and attention and what you dug most about them.

2. Contests and awards — sometimes helpful, sometimes a money drain

Some contest companies charge hefty fees and give out loads of awards purely for the sake of their own profit versus celebrating worthy writers. In such contests, virtually everyone wins and has the option to purchase extras, such as award stickers and certificates. They promise exposure on their website, which may have low traffic. While these awards may influence buyers to some extent and sound groovy in your bio, they aren’t known to boost sales over all.

There are plenty of credible contests, which charge more modest fees (say $10, versus $99), care at least as much about about writers and the literary world as personal bank and whose kudos would shine more brightly.

Research contests before entering. Find out important details, such as who is hosting the contest and who the judges are. Any contest that is not transparent about its judging panel may not be worth your time or entry fee.

To learn more, read this Salon article: Vanity Book Awards.

3. Professional editing — hugely worthy

No one can edit their own work well, and writing and editing are completely different skill sets. Again, do your research. Get referrals and make sure your editor is credible. I was fortunate to meet mine at a writers’ conference. After he critiqued a sample of my work, I knew he was the right fit for me and my story.

To save your editor time and you money, do your best to get your book in tip-top form before handing it off. As my novel’s editor—who’s also a prolific author—Mike Sirota says on his blog, “You’ve already put a lot of blood, sweat, tears, time, and coffee into your story, so why dash to the finish line?”

4. Credible editorial reviews — potentially helpful

Kirkus Reviews reviews indie-authors’ books. In this case, the fee, while steep, isn’t wonky or misleading. Traditional publishers pay for these services, too, and at least in the case of Kirkus, the review process is exactly the same. You can submit to Publishers Weekly for free, but your book won’t necessarily be chosen for review. (You can also pay PW’s indie program, PW Select, for a listing in their guide.)

I’m a bit biased, as Kirkus gave my novel a pretty shiny review, but regardless, I like the fact that these publications critique books with a critical, professional eye and are well-respected throughout the literary world. They’re known to be tough on books, which is something I desired. A positive review from either may influence agents and publishers, should you decide to go hybrid or traditional later on, and can add impressive light to your bio.

If you have the funds to submit to Kirkus, consider it. If not, fear not. The review won’t make or break your success as an author. If you get a negative review, you can ask that it not be published on their site and bypass using a blurb or the full review yourself. Steer clear of paid reviews that seem sketchy or unethical; they probably are.

5. Any service that seems necessary, but that would suck our time and energy if we did it ourselves — wise and worth it!

I know me. I am not going to take the time to learn how to format my manuscript for each outlet. It would be tedious, headache-inducing and draining, and my energy seems best spent elsewhere. Like many writers, I wear multiple hats and would rather pay someone.

I’m hiring Jenn Oliver of The Author Sidekick to take care of this for me, and I’m thrilled already. She’s sharp, experienced, enthusiastic and reasonable price-wise. To check her services out, visit theauthorsidekick.com.

As in life, choose where you invest your time, funds and energy wisely. ♥