Comments on: Finances of Publishing:

By: Writing a Research Paper

Writing a Research Paper — Mon, 23 Nov 2009 13:37:53 +0000

>Many institutions limit access to their online information. Making this information available will be an asset to all.

By: james

james — Fri, 20 Nov 2009 04:07:07 +0000

>I've always believed that the best investment anyone could make is in themselves! So when I get my first advance I'll invest some of that into conferences, books and maybe a class or two.

By: Mira

Mira — Thu, 19 Nov 2009 16:14:30 +0000

>I really appreciate this information. It's helpful to know the nuts and bolts. Thanks.

By: Kim Kasch

Kim Kasch — Thu, 19 Nov 2009 07:37:22 +0000

>Finances . . . ?

Can I be like Scarlet and say, "I'll think about it tomorrow"?

It's hard enough to balance my own checkbook :(

By: john pazdziora

john pazdziora — Wed, 18 Nov 2009 20:45:30 +0000

>Fascinating stuff, Rachelle. Thanks for sharing your wisdom with us!

You might be interested to know that I've posted a review of Athol Dickson's Lost Mission on my blog today. (URL above.) Thanks for the opportunity.

By: Joshua

Joshua — Wed, 18 Nov 2009 20:25:41 +0000

>I just found this blog today, and I think I'm in love.

1) At this point I'd settle for even a standard rejection letter instead of no response at all. The advance issue can come later.

2) As for this last question/issue, we hire contractors who are paid much the same way, expect it's usually half now, half upon completion of the project. Almost like hitmen, only maybe slightly less bloody.

-Joshua

By: Anonymous

Anonymous — Wed, 18 Nov 2009 20:25:11 +0000

>If the publisher doesn't offer an advance, what guarantee do you have that the book will ever get published? Like the writer, the pub needs to have a vested interest in the book. Writing a book is hard work, not a charity!

By: Lynnda - Passionate for the Glory of God

Lynnda - Passionate for the Glory of God — Wed, 18 Nov 2009 19:15:43 +0000

>Good morning, Rachelle.

I see the relationship between the author and the publisher as two parties in a commercial transaction for a component of a product. The author is selling a manuscript to a publisher who will turn it into an end product - a book. The publisher doesn't know how many books he can sell, so he doesn't know the value of the component. The author doesn't know what the component is worth either, but he wants it turned into a book, so the publisher pays the author part of the price of the component - aka the advance - and the author extends the publisher credit for the rest of the price of the manuscript. After the book is on the market, the value of the manuscript becomes clear by the number of books that are sold. The publisher pays off the credit line he has with the author by paying royalities.

When viewed this way, the lack of an advance implies that the author gives the publisher 100% credit for the full value of the manuscript. When an author gets an umpteen million dollar advance, you can be sure both parties agree that the manuscript is very valuable.

As always, thanks, Rachelle, for more food for thought.

Be blessed,

Lynnda

By: Melanie Avila

Melanie Avila — Wed, 18 Nov 2009 19:06:27 +0000

>Great questions and great answers. Thank you.

About advances -- I'm a graphic designer and it's quite common to get paid half in advance, especially if it's a big project. It acts as a guarantee that the client won't bolt with your work (since there's a lot of back and forth before final approval). It also keeps the designer motivated. ;)

Here in Mexico it's very common to pay upfront for most services.

By: Rachelle

Rachelle — Wed, 18 Nov 2009 17:16:06 +0000

>Sara/Anon and EVERYONE PLEASE NOTE: The query is not the place to go into any of these marketing details. Fiction: If you want to include ONE sentence in a query that conveys you're aware of marketing realities, that's great. Non-fiction, include a paragraph or two that explains your platform since it's crucial for non-fiction books.

By: Julie Dao

Julie Dao — Wed, 18 Nov 2009 17:11:51 +0000

>Thank you very much for posting this information. The financial side of publishing seems a lot clearer and maybe a little less scary. I'm looking forward to reading about the different ways to market a book!

By: Anonymous

Anonymous — Wed, 18 Nov 2009 17:09:06 +0000

>Rachelee, I'm "Sara" (Anon) who asked the questions about buying in bulk. How do you tell that to an agent in a QUERY that you *want* to do marketing/PR for your book if/when it's published? Also when agents ask for a ms., I don't want to seem too pushy or overeager, spewing out marketing ideas. What do you suggest?

Frankly, I'd love to market my own book--what a dream come true!

By: Rachelle

Rachelle — Wed, 18 Nov 2009 16:43:10 +0000

>Katie 8:33am: It could go either way, but most likely you will be looked at as a brand new unpublished author, since you haven't published fiction.

By: Katie

Katie — Wed, 18 Nov 2009 16:33:47 +0000

>I have a question. I have written a non-fiction book that did okay. It earned out. It wasn't a breakout best-seller, but it's still in print, still chugging along. I hope to write fiction someday. Will publishers be hesitant to take my novel because my non-fic sales were mediocre?