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?