Money is a topic that always produces two reactions. You either shy away from the topic for a variety of reasons or you dive head in and want to know more. Especially when it comes to writers.
I’ve noticed that Indie (or self published writers) have no qualms about discussing money – how much they make, how much they want to make … because for us – this is our ‘job’. This is what most of us do – whether full time or part time – but it’s still our job. We work long hours producing something of value and cross our fingers that this will be able to help pay the bills, buy groceries or help to lighten the load financially for our family.
Then there’s the traditionally pubbed authors who very rarely will discuss what they make – whether it’s an advance or royalties…part of this reason contracts, but another part is because – I think – they are afraid of crossing the line of no return. What if their friend had a bigger advance – or a small advance? What if that author that I thought should be doing amazing – isn’t?
Don’t get me wrong – there are traditionally published authors who are vocal about this. They are either staunch traditional published authors who are more than happy to help guide other authors on this path or they are ones who are wading the waters of self publishing and are being upfront about their earnings. Take Joe Konrath for example. Or Bella Andre. Or Theresa Ragan.
Here’s where I stand – as if you don’t already know. The more knowledge I can share means the more power you have as a writer to make your decision. I’m not saying that self publishing is the way to go. It’s ‘A’ way. Not ‘THE’ way. It’s a way that is working for me – for now. It may not work for you. But it might if you gave it a chance. Either way – if you are trying to decide what steps to take with the book you have finished – do your homework! Find out the pros and cons and decided for yourself what will work.
I recently read a blog post by Beverley Kendall on the Tale of Two Publishing Roads. There is one thing that she said that hit me hard. Like REALLY HARD. “My advance had been a very modest $2500 per book and it was a 2-book deal.”
Her ADVANCE for her traditionally published book with Kensington – one of the Big 6 Publishing Houses – was only $2500. I think I would have cried if I had received that cheque. I know that this advance is typical of most of the publishing houses. But how is it possible for authors to make a real living if they only get an advance of $2500? Yes, I know they get royalties – which is quarterly or semi-annually … but this just hits home that for the majority of authors – writing full time is really not a dream they can pursue right away. Now – I also know that there are authors who earn more than that …so please – remember I’m only talking about the typical traditionally published author.
So let’s look at the indie – or self published author. Let’s be realistic. I’ve shown you what I made over at this post. Self publishing is a hard gig and it’s not a get-rich-quick type of deal either. For the average author just starting out – one who has not had a traditionally published contract in the past – it takes an average of 6-8 months before they begin to make money. I know for me it did. BUT … once you start, once you start putting out more books, once you build up your brand and get your name out there and have more books that your readers want to read – you can and will begin to see the money come in.
It took me a year but I am finally able to write full time, being able to help provide for my family in paying the bills – full time. I quit my job because my dream is now my reality and I am able to write full time. Did you read that? Did you get it? FULL TIME AUTHOR. It is possible. If I can do it – YOU can do it.
Are you an author who has faced rejection and feeling lost?
I’m over at Jill Elizabeth’s Blog today talking about rejection and how we can use it to our advantage as writers. There’s a word for the Scavenger Hunt going on today in that post …have fun and be sure to leave a comment! And if you missed Friday’s word – you can find it over at the Guilty Parent – please take a look – not only for the word but to spread the word on steps you can take if your child ever goes missing!