You know what your aim is with the book and how it fits into your overall financial or career goals. Now what do you want in the way of money from this? A million dollars looks, sounds and feels good in the photo, doesn’t it? But it is an individual desire.
Yes you work out a price, but how do you know if you are being offered the proper price for a book?
I really don’t know what is fair. Because the publisher offered a comment, “You will find we pay fairer than many,” I did some homework and research. I was hoping to find possible comparisons and I did.
My publisher is truthful according to my research and that satisfied my mind to help me make the decision to say “yes” bring on the contract.
What I found out in my research is that their royalties are on the high end of fair – they do not deduct certain costs, no holding back on royalties if there are returns (not that it will happen!) and because they are investing their editorial and marketing processes I believe it will mean higher sales instead of me being the marketing maven.
You could also ask people you know who have gone the same route. I didn’t need to do this but of course every one has a unique decision making style. My husband for example, would have had to do this step because his style is to ask many people to reach his decision. His personal research is of secondary importance.
The publisher is taking more risk than I am. They have more staff involved in the process and, likely the same amount of time involved considering all the tasks that are on their end. I love writing and have self-published several Kindle books and two paperback books, only one still printing.
Additionally I also get a few free copies of the book after which I get a hefty discount if I want to purchase more.
For me, an agreeable offer.
Are you getting Royalties?
Yes I am! Here is how it works with my publisher.
I get an advance. From what I researched one thing this is often dependent on is the number of pages of the book. As you might expect it also depends on other factors – is this your first published book with a publisher for example.
This publisher gives the advance according to a schedule tied to delivery of each chapter. That is part of my motivation to stay ahead of schedule. If you have ever been a commission only sales position, you know how it works. I have and I loved it because I always made much more than the advance. So after the full advance is paid, and the book starts to sell, they will apply my royalties against my advance. When that advance is paid back to them, then further royalty checks will come in.
There is no scale increasing (or decreasing) on number of copies sold, it is a flat percentage that is higher than many other offer.
This is my first opportunity to work with a publisher and so I have not been given a six-figure advance in case you are wondering. It is more usual to be where I am, between Nor is it my intention to make a six-figure income solely from writing. I love being on the platform more! Yes, I am one of those introverts who shines on stage. The advance, and the royalties, are however enough to take to the bank!
Next up from your questions:
– How do you know that this publisher will market your book?
– How is your book being promoted?
– Where is book going to be distributed?
Questions for you:
How important is the money in your objectives?
Are you writing for the love of writing and letting it take you where it goes?
Or does this book you have in the works need to – show you the money?
The photo looks like a dream. I really appreciate you covering all aspects of this process you are going through. It helps a lot. 🙂
It’s one heck of a good feeling dream too Cheryl! As long as people ask questions, I’ll offer my perspective of this process in hopes it can improve some part for someone else. Thanks.
I am blown away with the process of getting a book published. Seeing that the publisher is also taking a risk by paying you in advance, I guess has to be more reassuring, unless you didn’t complete the book. Did you discuss additional books when negotiating or it is for the one time book only.
I really appreciate you answering out questions.
Arleen you are so encouraging! I could not and am not thinking beyond the one book. I have noticed though that this publisher has repeat authors so that says a lot for their collaboration and success of book to market. Thanks.
Advances are getting rare these days….so this shows great belief in our work!!!! Love hearing all about this journey. Thanks for sharing it with us.:)
I didn’t know THIS about rare advances Jacqueline. Well that is even more encouraging for me. Thanks for that boost!
Thank you. I have often wondered, why I want to publish my novellas. Financially, I’m doing well. Notoriety, no, I’ve had plenty of that. I don’t have to worry about what if, could of, should of. I have fulfilled all my dreams, with the exception of becoming a published author. But, do I have what it takes? Perhaps I fear rejection, and maybe not. Advances, and royalties sound so enticing. Which way to go, self-published, traditional, etc. Don’t know where to turn. Right now I’m working on two film projects. That’s not enough for me. I want to be published. Am I asking, or expecting too much? What’s your take? Liked your post. Good read. Blessings.
You are definitely an inspiration for the rest of us. I have not yet used traditional publishing but all your information is so helpful. Keep up the great work my friend. 🙂
If my findings have just one inkling of help for one other person, then it’s worth the time to blog about it. While each publisher is going to be different, there is going to be overlap in the experience. Thanks Susan. You my friend, are an inspiration for me!
This is true. Hopefully, no one goes into publishing thinking they will make millions, because only .01% of those who do can claim that. As well as only 1% of authors actually sell a few thousand copies. Is it true that on average a book sells 100 copies through its lifetime? Anyway, I guess with that being said, you are the lucky few who has been offered a fair contract by a publisher, an advance, royalties, and marketing taken care of. So all you have to do is write. Some of these contracts will offer 10% royalties, very little marketing (like website space and tweet or two) and sometimes no advance! Congrats on your publishing journey!
TheGirl I did some searching to find this: “average U.S. nonfiction book is now selling less than 250 copies per year and less than 3,000 copies over its lifetime. And very few titles are big sellers. Only 62 of 1,000 business books released in 2009 sold more than 5,000 copies, according to an analysis by the Codex Group.”
If you are in the writing for the money or fame odds are not in the authors favor. You might not get a second chance either. Great question.
Well yep, I guess that’s why publishers aren’t so keen on publishing, even if its a good book. They are looking for what sells.
What’s good and what’s good and sells, is likely in the eyes of the publisher.
Pat, considering how common self publishing is these days I think it’s fantastic you have the deal you have. It is unusual to get that good conditions nowadays. Keep up the good work!!
I do feel good about it Catarina. I didn’t go looking for it, the opportunity found me. Thanks.
I heard that 90% of books on the market are self-published. Amazon alone publishes a million books a year.
Thanks for the insight. I’ve have a book written out and have been debating how to use it. I see the positives of using a publisher – however finding a publisher is near impossible these days. I can’t tell you how many more experienced authors out there who say, if I tried to publish today, they wouldn’t take me. I think I’m going to try one of the hybrid publishers. We’ll see 😉 Thanks again for your insight.
Joanne I think, if I had written a book that I wanted to get out, knowing what I have now learned about publishing, I would self publish. Of course that means you have to either hire a marketer or be prepared to create a marketing plan and act on it. Thank YOU.
Pat — It is remarkable that you have gotten an advance from a real publisher! But nothing has changed, I don’t think, in that every author is expected to promote her own book. Publishers promote the blockbusters but the little guys don’t even get the crumbs anymore. But you’re good at that so I’m sure you your books will sell. I’ll turn the question around — how important is the money to you? And what is the main reason you’re writing the book?
I’m immensely grateful for the deal I have. And I am also happy to help marketing my book in anyway I can – it’s a win, win and win.
I was purposefully vague when I stated here, “I didn’t need to do this,” which is really, I don’t need the money. What I want to do is share the best ideas I have, along with other introvert best ideas for the skill they can most shine with. The money was never important although I am totally grateful for it. My intentions going wide are the most important thing for me. Thanks Jeannette.
I had no idea there was that much involved, but then I have never gone down this road. It sounds like you have yourself there a really good deal. Well done and good luck.
Becc I am totally grateful for the opportunity. Glad to share it with those who might be at a junction of considering a publisher, or self-publishing. I get to write, reach tens of thousands (that is the plan) of people and get paid fairly to do it. Thanks.
There are so many pieces to the process, it’s excellent getting to hear about it first hand.
I’d love to write a book one day, but right now, I just love writing. It puts a smile on my face every time I put up a posts and the best part is that it makes my day job easier. I don’t toil as hard as I used to when I have multiple documents to produce, I just produce them. I also totally get what you mean about presenting. I love to present and one of the draw backs of my current job is that I don’t present to external audiences as often as I used, something I’ll have to address soon.
I find writing to be somewhat, therapeutic. By that I mean, it satisfies for me a thinking need which then is rather useless if only in my own head.
Being on the platform is my direction for the book. Thanks for picking up on that Debra.