Publisher and author: one introvert money questions

one-million-dollarsYou 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?

 

Sign Up Now

* We don't like spam either so we won't share your email with anyone else.

Comments

  1. Cheryl Therrien
    Twitter:
    says

    The photo looks like a dream. I really appreciate you covering all aspects of this process you are going through. It helps a lot. 🙂
    Cheryl Therrien recently posted…Herbs For Health: Personal Care ProductsMy Profile

  2. 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.
    PatriciaWeber recently posted…Publisher and author: one introvert money questionsMy Profile

  3. 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 recently posted…A Look at Bike Share Programs and What We Can Learn from ThemMy Profile

  4. Jacqueline Gum (Jacquie)
    Twitter:
    says

    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.:)

  5. 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.
    Dr., Johnny Velazquez recently posted…Is Your Dream Dead?My Profile

  6. 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. 🙂
    Susan Cooper recently posted…Easy Breakfast Coffee Cake: RecipeMy Profile

  7. 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 recently posted…A response to: Women’s Weapons of Seduction by LilyMy Profile

    • Patricia Weber
      Twitter:
      says

      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.

  8. 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.
    TheGirl recently posted…A response to: Women’s Weapons of Seduction by LilyMy Profile

  9. 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!!
    Catarina recently posted…Crisis management – can you handle it?My Profile

  10. 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 recently posted…Fruit fly, don’t bother me: Get rid of fruit flies naturally (no chemicals)My Profile

  11. Jeannette Paladino
    Twitter:
    says

    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?
    Jeannette Paladino recently posted…Is Your Website’s Page Speed and Load Time Killing Your Traffic?My Profile

    • 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.
      PatriciaWeber recently posted…Publisher and author: one introvert money questionsMy Profile

  12. 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.

  13. 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.
    Debra Yearwood recently posted…How To Be A Charismatic LeaderMy Profile

Speak Your Mind

*

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Pin It on Pinterest

Share This