Realistic Author Expectations
Okay, so you have written a book. Now what? Will you become a millionaire? Can you buy that beach cottage and yacht next month? Well...
Big Names vs. the Little Guys
We've all heard of the success of the Harry Potter series and Fifty Shades of Grey, but what does actual success look like for most authors? Think of it this way: there are thousands of struggling actors but only a small pool of highly visible A-Listers who make most of the pot of money. This is true for authors as well. So how can a writer be successful?
Mixed Messages
An author need not look far to find many mixed messages out there. Articles and blogs tout the huge successes of a few self-published authors (some of these authors were previously published by one of the big publishers).
Others argue that only a big house can offer a writer widespread exposure. But the big guys won't talk to you unless you have an agent. And most writers end up feeling like they're more likely to be struck by lightning.
Writing a Book is an Accomplishment
Stop and think about it. You have written a book! The time and dedication that you put into this project is admirable. You didn't just "plan to write a book" which many people like to brag about, much to the chagrin of writers who actually take the time and effort needed to finish a book. The process may have taken years. Completion is a great accomplishment!
But just because you have written a book, or had a harrowing experience, or have a brilliant idea, does not mean that your book will be commerically viable. For many, publishing a book through a service like Amazon which can produce physical copies for you, your family, and your friends makes sense. Decide what's really important to you: leaving behind a legacy for your family, publishing a book for readers to buy, having a professional product to sell, and/or developing a career as a writer.
If your goal is to publish a book to be read beyond your family and friends, decide how important it is to you for your book to be taken seriously. Publishing a high-quality book still requires you to perform due diligence, to have a professional design a cover, to pay an editor to edit your manuscript, and to, above all else, write a good story. Many legacy writers will go this route. Do keep in mind though that most professional reviewers will not look at "self-published" books, but even this is changing.
Let's say you decide that you not only want to publish a good book, but that you want to be taken seriously as a writer, or you are a speaker who needs a professionally produced product. If you are not up for the countless hours of research and the demands of running your own publishing business, then maybe you should attempt to be commerically published. Traditional publishing companies, large houses and small presses, offer the legitimacy that comes with knowing that someone, besides your spouse, children, and friends, believes in your book and takes you seriously as a writer.
Unrealistic Expecations
Understandably, for many authors, the publishing business is confusing. Unrealistic author expectations, however, can take a tremendous psychological toll on new writers. How many books will you sell? 10,000? 100,000? 1 million?
Even though you may read online that the average book can sell 1,000 copies in the book's lifetime, the sad reality is that many, many books out there will never even sell one hundred copies. According to author Leilanie Stewart, "many [self-published] books sell less than 100 copies in the first year, with some selling only 5 or 10 in the first month of publication." But, with a good story, professional appearance, active marketing strategy, you can beat those odds. However, do understand that this is a numbers game.
Some may believe that if they earn an MFA (Master of Fine Arts, a graduate degree) in Creative Writing, they will have no problem publishing as many books as they can write. This is not necessarily the case, especially because many programs do not focus on the business of writing and put emphasis on strictly literary writing as opposed to commerically viable genre fiction. There are some great articles about this, including "What You Won't Learn in an MFA" posted on Publishers Weekly.
How Much Does an Author Make Per Copy Sold?
This is a great topic to research, one which very few writers understand. It is sobering to learn that many authors will not earn more than $1 or $2 per book. If all writers knew this before setting out to write a novel, would this affect their decision to write? If you truly are a writer, even this knowledge will not deter you from writing. Writing is a passion (But I also want to make money! This is not a hobby! It's a job!).
But how can an author make so little money off a book with a $20 retail price? That sure sounds like publishers are cruelly taking advantage of authors. Let's break down the math.
Retailers get a 40-55% discount off the cover price. Wow! That sure sounds like they're making a killing off of the writers. So why do so many bookstores go out of business? They need to pay their employees, cover their large operating expenses, be able to discount books twenty-percent to their loyal customers, deal with book returns, and so forth.
Okay, so now the publisher has received $9 for that $20 book. But, before paying their authors, they need to cover the printing cost of the book (printing books is not cheap!), allow for the financial loss from returns, pay for the editing, interior designing, cover designer, ISBNs, copyright, shipping and printing copies for advance review submissions, marketing, websites, fees, etc. Then, from what is left, the publisher must make some profit to justify staying in business by not operating at a loss. From what is left, the publisher will issue royalty payments.
But before authors get paid, if they published with a large traditional publishing house, the next step is their literary agent who will typically earn 15% of an author's royalties. Their services are important though and without their help, authors are highly unlikely to be published by any of the big publishing houses. If an author instead is publishing directly through a small press, without an agent, this payout step is skipped.
At the bottom rung are the royalties paid to the author. It is a frustrating place to be, but perhaps you can find comfort when you understand the time, money, and effort that everyone above you is putting into your book because they believe in your book. That is something to be proud of.
Is There a Lot of Competition?
How many books are published every year? Probably more than you think. More specifically, according to ISBNdb.com, "The United Nations Educational, Scientific and Cultural Organization, better known as UNESCO,... estimates that 2.2 million books are published every year." That is a lot of books. Of course, not all of those are published in the United States, or are written in your genre, but still, it is a sobering fact.
This is why it is important to understand your competition. A writer must read books in the genre that they write. Why? If nothing else, it is important to know what readers of that genre expect. Don't just read the classics. Read the newest bestsellers, too. This is why agents and publishers ask you for recently-published comparison titles. It shows that you understand what kind of books are popular, which means more likely to sell.
This is not to say that you should copy another writer. Fan-fiction, or any books that copy other books in whole or in part, violate that author's copyright and can subject you to hefty penalties, fines, and legal action. Your publisher will drop you. Don't want to pay for an attorney? Then don't copy anything written by others.
How Can I Make Money Writing Books?
Contrary to what some might think, your work will not simply speak for itself. The market is, as stated above, saturated with books. Yours needs to stand out from the others. The publisher does their part by making sure that your book looks professional inside and out, has a visually appealing cover, and is competitively priced.
Preparation for the release of your book should start months or years ahead of time. Authors should work to build a platform--so many writers hate that term!--by creating an online presence on multiple social media sites: Facebook, the platform formerly known as Twitter and similar sites, LinkedIn, Instagram, TikTok, etc. Write articles. Start a blog. Comment on others' blogs. Be a guest on Podcasts. Do you have to have a large social media presence to sell books? Not necessarily, and even if you do, it may not translate into sales.
Connect with organizations or individuals who are likely to support and promote you and your books. For example, if you write Middle Grade Fiction, make connections with lots of elementary schools who may be willing to host you for book readings or an evening for parents. Does your book deal with a topic such as surviving cancer or abuse? If so, make connections to organizations who work with those families. Your book may be a source of hope for them.
Who will be your customers? Get involved in their world. Do not simply advertise your book nonstop through social media posts. Nobody likes spam. Show the world how much you know or how interesting you are or how helpful your advice can be. If people like what they read, they will be more apt to purchase your book. Be willing to do author appearances, book readings, and engage in book clubs.
If you are a public speaker or are well-known in your community, having a book is a great way to supplement your income. This is especially true if you can successufly leverage your connections or already have a built-in audience. This is assuming these individuals read, want to know more about you or your topic, or at least want you to autograph a copy for them. Having a handful of friends and family who love your reading and want to support you may not be enough to make money in the industry unless these individuals successfully promote you far and wide.
Take an active role in the marketing and promotion of your book. Your publisher will be your partner in these efforts.
Referenced Sources:
http://askaliteraryagent.blogspot.com/2009/09/how-many-copies-must-book-sell-to-be.html
https://leilaniestewart.com/2022/09/16/how-many-copies-do-self-published-books-sell/
https://isbndb.com/blog/how-many-books-are-in-the-world/
article updated December 31, 2024
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