Financial Side of Writing

Today I am going to talk about the financial side of writing. Yes, the not so fun side. I believe sometimes the financial side gets in the way of being able to write because I have a tendency to be so wrapped in the sales numbers. So, I just wanted to break down the traditional publishing vs. indie publishing for our newbies and talk about how not to be so boggled down by what your sales numbers are doing and just write.
I think being with a publisher takes some of that financial pressure off a little compared to one who is publishing Indie style. Don’t get me wrong. There is still a burden as the publisher has spent the money and now we have to get the sales to help cover those costs. We need to promote our books all over the place to attempt to get the sales. Someday I wouldn’t mind trying to publish myself, but the money and not having enough experience in writing keeps me at bay. I wouldn’t mind having one foot in self-publishing and one foot in traditional publishing.
I was reading up on Indie Publishing and quite frankly, it scared the daylights out of me and gave me a renewed awe for my publisher. If you truly want to succeed, first you have to hire an editor. This can cost between $500-1000 if you want it done right. Oh and there are two different kinds of editors: a copy editor and a content editor. You pray that you can find one who does both. Not impossible though. Then you need to hire someone to produce your book cover. That can range starting at $100 and goes upwards depending how detailed and creative you want. Not to mention you want someone who has done this and does it well. Then you need to know how to format your story for each e-reader you plan on publishing your book to. And if you want to do print on demand, you need to ensure you have a great blurb and what you picked for your book cover will look good in print. And the list goes on. I am certainly not discouraging anyone from going down this path. After all, I think about it often as I am writing a novella. I’m just throwing the numbers out there for you to consider both what any indie author and a traditional publisher like Soul Mate Publishing will put out to publish a book.
Now I can move on to how much money authors make. We are not going to include the greats like James Patterson, Stephen King, Patricia Cornwell, and so on. I will be keeping my day job because 95% of us (maybe that percentage is higher) will not make that great place where we can stay home because our writing comfortably pays the bills. Don’t get me wrong. I’m still shooting for the moon! If Stephen King can do it, why not me? (Realistically, Stephen King is brilliant! That’s why). I will continue to as long as there is a breath in me. However, I don’t want that to overpower my writing. I love to write my a-little-off-the-beaten-path stories. It’s a new adventure each time I begin another one. And that’s what it should be for you too. Don’t let the financial side of this business get to you and take away your essence for writing. I have learned to stop checking the sales rank over at Amazon every day. And you know what happened? When I got my royalty statement the other day, I realized I made in the first quarter this year what I made all year long last year. So that is an improvement. And it made me relax more so I can finish that next book. And so should you. Just write!

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About Donna Shields

Donna Shields I live in the beautiful upstate of South Carolina with my husband, our children, and some great haunts. Besides being a busy bee with my writing, I'm a Mom, a Grandmom, a co-owner of a motorcycle shop and an avid reader. And we love traveling to Mexico and Jamaica. I have two books published with Soul Mate Publishing: The Swan Cove Murders, a paranormal romantic suspense, and Secrets of Jenkins Bridge, a romantic suspense. I like writing about things that go bump in the night and finding a new twist to include in my stories.
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3 Responses to Financial Side of Writing

  1. Karen Rossi says:

    I have been playing around with the idea of Indie publishing for some time—doing research and reading up on it—but I still keep submitting to traditional pubs. Is it because I’m scared of the work I know I’d have to do, or am I just too lazy to put in the effort? I haven’t decided which it is, but as of today I still haven’t taken the plunge. I guess I should just hold my nose and dive in. The problem is, I never learned to dive!! I always wade into a pool…
    Hey, that’s it! Now I know why I haven’t taken the plunge. I can’t dive into this Indie venture—I need to wade in bit by bit.
    But is that even possible?

    • Karen if you find out that wading little by little is possible, let me know. I just might have to follow. Seriously, I think it’s an all or nothing deal. Maybe, just maybe, it could be done with a short one? Like say maybe a novella. Sort of like a test run.

  2. traceyawood says:

    Reblogged this on tracey a wood blog.

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