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In Touch With Reality
by L. L. Reaper
“I won’t be here much longer. After I sign my million dollar book deal, I’m quitting. Not that I’ll have time to do much outside of my writing career. You know, with the national book tour my publisher will be setting up…” –Aspiring Author
I love the enthusiasm and naiveté of aspiring authors. I’m put in mind of teens on the basketball court who know they will be in the NBA someday. Unfortunately, only a handful of those teens will sign NBA contracts. The publishing industry mirrors professional sports in a few key aspects. Many excellent athletes never make it into the pros. Of those who make it into the pros, a small minority of them are considered “franchise” players.
Unlike the NBA where the minimum salary for a newbie is around $490,000, the majority of traditionally published debut authors make under $4000 for their first print novel. That $4000 is called an advance, or as I like to call it, a pay day loan minus the high interest rate. For every book sold, you earn a royalty—a percentage of the profit of the book. Without going into long mathematic equations and a diatribe about production cost that would bore us all to tears, I’ll let you know that if you receive a $0.80 royalty per book sold, you are doing great.
Next comes the part that confuses many authors. It’s been years and they haven’t received any royalties. “Publishers are as bad as the music industry in the 60s and rip off the artist!” Take a step back. Inhale, exhale, release. This is where the advance comes into play. Your advance is truly an advance on monies you will earn in the future. Sorry, but I have to throw a little math at you.
If you received an advance of $4000 and make a royalty of $0.80 per novel sold, you would have to sell 5000 copies before you saw a penny in royalties. And remember, $0.80 per book sold is a lot by industry standards. Here comes another dose of reality you probably won’t like: The majority of debut authors do not pay out, which means they never sell enough copies of their debut novel to see royalties for it.
Am I saying you shouldn’t go the traditional route? Heck no. I want you to. It’s the best way to build your loyal reader base. But go into this business with realistic goals and expectations. I encourage all authors to have an investment fund stashed away somewhere. Every week put money away to invest in your writing career. Why, you ask? Won’t the publishing house provide an army of editors and piles of money for marketing for your book?
Your book has to be accepted by a publisher. I suggest you seek professional editing before you take the plunge. Will this guarantee you’ll be picked up by a traditional publishing house or an agent? Nope. Just as there are excellent ball players who never make it into the NBA, the same holds true of writers. If you’re manuscript’s been developmentally edited and you don’t sign with an agent or editor, you can have that manuscript copy edited and proofed, then publish it yourself.
Unless you are a “franchise” player, don’t expect the publisher to do a lot of promotion for your specific titles. More marketing dollars are put toward the big names because they are the “draw.” They usually already have a large, loyal reader base, so the publishing company wants to spread the word that, “Hey, I have So And So’s latest title! Don’t miss out.” This is as close to guaranteed profit they can come by.
As you continue to release quality novels and your writing career evolves, you’re reading base will grow and reach back for your previous titles (back list). Often times, this is when you’re earlier titles begin to pay out (pay off their advance) and you’ll receive royalties. Word of warning. You should receive royalty statements from your publisher whether you sell zero or millions of copies.
I don’t wish to overwhelm you, so I’ll end this here. If you have questions, I’m always available. You can contact me through the Contact page on my website. Good luck in your writing journey. Be sure to stop by my website and sign up for your chance to win and Kindle and learn about my upcoming dangerously sexy suspense, Black Widow and the Sandman.
L.L. Reaper is two multi-published, award-winning authors who decided to write under a pen name for their dangerously sexy suspense series, Black Widow and the Sandman. You can visit their website at www.llreaper.com or connect with them at Twitter at www.twitter.com/llreaper and Facebook at www.facebook.com/AuthorLLReaper.
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