To Whom to Money Flows
Supposedly, the old adage goes: "money flows toward the author" yet as I begin to explore more about 'traditional publication' I'm learning that the direction of money flowing and the supposition of there being no upfront expense isn't realistic.
POD publication often gets a bad rap, as does just about any author financed publication method, namely based on the assumption that anytime one must 'pay to be published' it's primarily due to the quality of the work alone.
However, untraditional authors aren't the only ones paying to be published.
What do I mean by this comment? Well, as I was editing my current manuscript de jour I was contemplating of how I'd like to possibly send it off to a few trusted readers for additional input before I do anything more with it.
Now at first, this sounds great (and I believe I'm going to do this regardless), but after calling my local copyshop and getting a few quotes, I found it'll probably cost me roughly $20-$35 per reader. Multiply that by about ten to twenty readers and I'll be putting out around $200 to $700 bucks.
In addition to this, I'm also toying with the idea of trying to get an agent to rep this work (yes, me--Miss Independent herself). Why? Well, for one, because I really haven't tried yet. And two, as silly as it sounds, I don't think it'll hurt to get some unbiased and all so ruthless industry feedback about my writing (so, rejection slips, here I come…).
So as I investigate further, I again automatically start doing the math. Let's see, let's say fifty to a hundred queries to agents. Ten pages in each. In copies alone, $35 to $100. Not including the personalized cover letters … add mailing, $75 to $200, depending on method ... and I've got what, anywhere from $100 to $300.
Then let's say, out of all those agents, I get optimistically five that bite (I said optimistically) and want the whole manuscript, which'll probably be somewhere around 500 to 600 double-spaced pages.
Again, to have the manuscript printed/copied, it will run about $35 - $60 each so times that by five, we're talking about another $175 - $300. Include the special manuscript boxes and mailing fees and it'll add at least another hundred bucks or so, depending on how I decide to mail it.
Okay, now seeing I do all this that I've mentioned so far, roughly I've spent anywhere in the ballpark of $500 to $1400. Hmmm, very interesting … and to think, I still haven't gotten anything flowing to me yet.
But just for consideration, let's take into account that so far these figures have not included some other things like my getting some professional editorial help to make my work even better, the fuel necessary to get the copies and to mail stuff, much less the expense of my purchasing a copy of Writer's Market and the Agent's version to make sure I'm targeting the right people.
Also not incorporated in that base figure are items like pitch sessions at conferences, airfare, hotels, convention fees, local writing club memberships and meetings, and all those other wonderful events I am finding can be very beneficial to those who want to attain their dream of traditional publication.
And although I have a bad habit of weighing expenses (you'd hate to go car shopping with me) when I learn the average advance for a "first-time author"* is running around $2500-$5000 right now (unless it's a spectacular work), it does make me pause knowing Uncle Sam grabs about a third of that for if one were to only get the $2500 and spent the mere $1400 to get there, it obviously wouldn't leave much to flow.
So, I guess this is why the adage bugs me for even though I realize that if one were to get the huge advance then (yeah, baby) the money is definitely flowing the right way, I'm learning that anyone considering traditional publication shouldn't go in with the belief that they won't have to front up the bucks to 'get published' because from the moment the author chooses to pursue any kind of publication, the money will begin flowing.
Now, whether it'll eventually flow towards the author is the real question.
Just something to consider ;)
POD publication often gets a bad rap, as does just about any author financed publication method, namely based on the assumption that anytime one must 'pay to be published' it's primarily due to the quality of the work alone.
However, untraditional authors aren't the only ones paying to be published.
What do I mean by this comment? Well, as I was editing my current manuscript de jour I was contemplating of how I'd like to possibly send it off to a few trusted readers for additional input before I do anything more with it.
Now at first, this sounds great (and I believe I'm going to do this regardless), but after calling my local copyshop and getting a few quotes, I found it'll probably cost me roughly $20-$35 per reader. Multiply that by about ten to twenty readers and I'll be putting out around $200 to $700 bucks.
In addition to this, I'm also toying with the idea of trying to get an agent to rep this work (yes, me--Miss Independent herself). Why? Well, for one, because I really haven't tried yet. And two, as silly as it sounds, I don't think it'll hurt to get some unbiased and all so ruthless industry feedback about my writing (so, rejection slips, here I come…).
So as I investigate further, I again automatically start doing the math. Let's see, let's say fifty to a hundred queries to agents. Ten pages in each. In copies alone, $35 to $100. Not including the personalized cover letters … add mailing, $75 to $200, depending on method ... and I've got what, anywhere from $100 to $300.
Then let's say, out of all those agents, I get optimistically five that bite (I said optimistically) and want the whole manuscript, which'll probably be somewhere around 500 to 600 double-spaced pages.
Again, to have the manuscript printed/copied, it will run about $35 - $60 each so times that by five, we're talking about another $175 - $300. Include the special manuscript boxes and mailing fees and it'll add at least another hundred bucks or so, depending on how I decide to mail it.
Okay, now seeing I do all this that I've mentioned so far, roughly I've spent anywhere in the ballpark of $500 to $1400. Hmmm, very interesting … and to think, I still haven't gotten anything flowing to me yet.
But just for consideration, let's take into account that so far these figures have not included some other things like my getting some professional editorial help to make my work even better, the fuel necessary to get the copies and to mail stuff, much less the expense of my purchasing a copy of Writer's Market and the Agent's version to make sure I'm targeting the right people.
Also not incorporated in that base figure are items like pitch sessions at conferences, airfare, hotels, convention fees, local writing club memberships and meetings, and all those other wonderful events I am finding can be very beneficial to those who want to attain their dream of traditional publication.
And although I have a bad habit of weighing expenses (you'd hate to go car shopping with me) when I learn the average advance for a "first-time author"* is running around $2500-$5000 right now (unless it's a spectacular work), it does make me pause knowing Uncle Sam grabs about a third of that for if one were to only get the $2500 and spent the mere $1400 to get there, it obviously wouldn't leave much to flow.
So, I guess this is why the adage bugs me for even though I realize that if one were to get the huge advance then (yeah, baby) the money is definitely flowing the right way, I'm learning that anyone considering traditional publication shouldn't go in with the belief that they won't have to front up the bucks to 'get published' because from the moment the author chooses to pursue any kind of publication, the money will begin flowing.
Now, whether it'll eventually flow towards the author is the real question.
Just something to consider ;)
posted by dehanna at 6:42 PM
6 Comments:
Dehanna,
You're right on the money! And you're still talking the pre-production stage! You've made the assumption of an advance, as well.
I've got a contract to have a fantasy novel called "Choices Meant For Gods" published next month. Good news: I'm in the game. Bad news: I didn't get an advance, but I've had the opportunity to spend $116 on these nice bookmarks to hand out everywhere I go promoting my book despite the fact my publisher doesn't have my cover because I spent the gas money to go get them made, and I spent the gas money to get an artist to design a map of the fantasy world (thankfully, she's a talented, amazing friend - Megan Kissinger - fabulous artist - who didn't charge me for the artwork despite the incredible amount of time and energy she put into the task) to put in the book and on the marketing materials I'll be pay for and supplying throughout the marketing campaign.
Are you seeing the pattern here?
The thing is, I'm not complaining! I'm just agreeing with you at the next step of the process. The money doesn't flow and won't flow until someone like TOR sits up and says, "woah, who's that Sandy Lender with this series from that smaller publishing company?" Is that ever going to happen? Well...I'm going to spend a lot of money on marketing...
(Choices Meant For Gods will be out in December at Barnes & Noble and Amazon...places like that, but you can get info on it, and how to submit your work if you don't mind the negative cash flow for the next year or so, on the publisher's site at www.archebooks.com.)
dehanna, as usual you have hit the nail on the head with this article about 'traditional' publishing. It is very sad but true.
I think I will continue to publish my works the 'non-traditional' way.
Kristie Leigh Maguire
Published Author of Desert Heat, Cabin Fever, No Lady and Her Tramp, Emails from the Edge: The Life of an Expatriate Wife....and Owner and Director of Operations for Star Publish LLC
Great blog, Dehanna! Very informative. I will be checking back in for sure! I also see that you have a section about Beth Erickson. I live not too far from her and I am hoping to meet her soon! Keep going, this is great!
Laura
dehanna, you are spot on with this. This business is so screwy that eventually every writer will come to the same realization that you have. UNless, as you said, you have the next Pulitizer winner or have a household name, then the chances of the money flowing anywhere but away is damn good!
As adamant as I was against self-publishing, I finally decided that I would give it a shot. My book's first week out, I sold more copies of it than my so-called traditional, royalty paying first book has in four years!
Now, I am considering the e-book route for some of my books. I hate anything new. I'm an old fashioned kind a gal, but, with the hurry up world we now live in, any short cut is something to be cherished, and it appears e-books are among the cherished.
So, I am going to bite the bullet and do the e-book thing, possibly from my blogs or website and see if I can generate a respectable number of sales.
If so, then the 'traditional' big boys can sit on it and spin.
I work in both the POD and traditional publishing/printing industries, but I never thought about the costs for trying to sell a book "the old fashioned" way. Wow. That's amazing.
Great analysis, Dehanna.
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