You’ve finished that first business book. Whether to establish your expertise in a specific niche, build a brand for a new or existing business, or bring in additional revenue, your new book now needs to be published and placed in the hands of your target audience. You’ve decided to go it alone as a self-publisher, but there’s just one problem.

How do you fund your first book before making even a single sale?

In a Twitter chat on Wednesday, March 13, 2013, we examined some of the approaches for raising money to fund your first self-publishing projects. Guests included Nancy Spooner Bsharah (@SurfDateBook ^[1]) Co-author of Everything I Know About Dating I Learned Through Surfing ^[2] and Susan Payton (@EggMarketing ^[3]), Author of 101 Entrepreneur Tips ^[4] and Internet Marketing Strategies for Entrepreneurs.

Leading the discussion were Ivana Taylor (@DIYMarketers), Publisher of DIYMarketers ^[5] and Book Review Editor for Small Business Trends ^[6] and Anita Campbell (@SmallBizTrends), Founder of the Small Business Book Awards ^[7], and the Co-author of Visual Marketing, published by Wiley.

Here are excerpts from the chat:

@diymarketers ^[8] I was going to boot strap until I heard of crowd funding!’ #bizbookawards ^[9]

— Surf Date Book (@SurfDateBook) March 13, 2013 ^[10]

A1: You can fund a book using a publisher, your own cash, your family/friends cash, crowdsourcing & probably a loan. #BizBookAwards ^[11]

— Matt Mansfield (@1KContentIdeas) March 13, 2013 ^[12]

But how, asked some, does crowdfunding work, and what steps can an author take to get started?

@bizbookawards ^[13] I used the Kickstarter platform.People funded our book online and we rewarded them with prints, shirts & books #bizbookawards ^[9]

— Surf Date Book (@SurfDateBook) March 13, 2013 ^[14]

But, will it really work, some participants wanted to know?

Besides friends & family will others buy in for crowd funding?#BizBookAwards ^[11]

— Eric Deeter (@EricDeeter) March 13, 2013 ^[15]

Q2 answer it has never been easier to plan, construct, publish, market your interest & expertise. get started, stick with it. #bizbookawards ^[9]

— Kevin Herbert (@bealakids) March 13, 2013 ^[16]

Participants of the chat also came up with suggestions for generating interest in your fundraising campaign.

A3: I included a video (created with Animoto) #BizBookAwards ^[11]

— Tai Goodwin (@TaiGoodwin) March 13, 2013 ^[17]

Q4: Many times announcing that you’re authoring a book can create hype and a lot of interest. Spread the title of the book. #BizBookAwards ^[11]

— Michelle Reynolds (@Aromatic_Health) March 13, 2013 ^[18]

I’ve been blogging for 3 years so my book was an easier leap. RT @eggmarketing ^[3]: which comes 1st, the book or the blog? #BizBookAwards ^[11]

— Pravassa (@Pravassa) March 13, 2013 ^[19]

And what kind of qualities, tools, and resources must you have to create a successful fundraising effort for your next book?

A5 – Components include being able to tell yr story well, having a good network and a SM strategy on how to spread the word #bizbookawards ^[9]

— Joe Wozny (@joewozny) March 13, 2013 ^[20]

A9. Use good organizing tools to research – from Evernote to Baecamp – may get a few idas for associated material #bizbookawards ^[9]

— Pierre DeBois (@ZimanaAnalytics) March 13, 2013 ^[21]

A10: Look for fundraising mentors. Include more than just authors in this list. #BizBookAwards ^[11]

— Shawn Hessinger (@Shawn_Hessinger) March 13, 2013 ^[22]

This chat was in honor of the Small Business Book Awards ^[7]. Cast votes for your favorite titles and book resources through March 26, 2013.  Big shout out to Namecheap ^[23], the Presenting Sponsor of the Awards. Namecheap’s generosity made it so that no entrance fees were required from nominees.