If you've been writing fiction for a while, you are probably aware that you are more likely to find a needle in a haystack than earn millions from the books you write. Most writers have just about a one in a million chance of becoming the next Stephen King.
And if you're thinking of having a big-time publishing house take care of publishing your work, that actually makes it harder to earn big money by writing. This is a reason for the increasing popularity of methods such as print on demand for up-and-coming authors.
Writers who have their works published by the big publishing houses start out by receiving an advance payment, a figure based on the predictions of literary experts and critics. If your name is Tom Clancy or Stephen King, the advance could be a few cool millions, or if you're just starting out, expect only a few thousands.
When the check is issued, it's the author's to keep, no matter how many sales of the book may occur. The publisher then subtracts the monetary advance issued to the writer from the royalties the book earns.
Royalties are based on a percentage (usually between 4% and 8%). This percentage would hold true from Day One, although you can only expect it in full after the advance has been deducted from future royalties.
$50,000 sounds like a reasonable figure if you're a first-time writer whose book has just been published. Depending on how the first book sells, it may be easier to negotiate your next one with a publisher.
It's slightly different when using POD - authors earn on a per sale basis, and not on royalties. You can even earn more profits if the bulk of the sales come from the POD provider's website. If you wish to do the marketing on your own, you can purchase books from the POD service website and see where it takes you.
Another way to profit from publishing fiction is to sell it as an ebook online. It's a high risk, high reward thing, because you can easily earn 100% profit from every sale - provided you know how the online marketing process works.
There are several downloadable programs that you can access to learn about the ebook business. E-books continue to rise in popularity, regardless of the type of writing, due to its profit potential.
There is no substitute for quality research and data gathering when it comes to studying how self-publishing works. There is no lack of information both online and in informative books that can help you in your venture.
And if you're thinking of having a big-time publishing house take care of publishing your work, that actually makes it harder to earn big money by writing. This is a reason for the increasing popularity of methods such as print on demand for up-and-coming authors.
Writers who have their works published by the big publishing houses start out by receiving an advance payment, a figure based on the predictions of literary experts and critics. If your name is Tom Clancy or Stephen King, the advance could be a few cool millions, or if you're just starting out, expect only a few thousands.
When the check is issued, it's the author's to keep, no matter how many sales of the book may occur. The publisher then subtracts the monetary advance issued to the writer from the royalties the book earns.
Royalties are based on a percentage (usually between 4% and 8%). This percentage would hold true from Day One, although you can only expect it in full after the advance has been deducted from future royalties.
$50,000 sounds like a reasonable figure if you're a first-time writer whose book has just been published. Depending on how the first book sells, it may be easier to negotiate your next one with a publisher.
It's slightly different when using POD - authors earn on a per sale basis, and not on royalties. You can even earn more profits if the bulk of the sales come from the POD provider's website. If you wish to do the marketing on your own, you can purchase books from the POD service website and see where it takes you.
Another way to profit from publishing fiction is to sell it as an ebook online. It's a high risk, high reward thing, because you can easily earn 100% profit from every sale - provided you know how the online marketing process works.
There are several downloadable programs that you can access to learn about the ebook business. E-books continue to rise in popularity, regardless of the type of writing, due to its profit potential.
There is no substitute for quality research and data gathering when it comes to studying how self-publishing works. There is no lack of information both online and in informative books that can help you in your venture.
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