Experienced fiction writers have come to accept that they probably won't end up millionaires by writing books - and may even have a greater chance of winning the lottery. It's just not realistic to think that you may become as rich and famous as Tom Clancy.
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.
If you get lucky and a major publishing house thinks your work is worth publishing, then you can expect an advance based on the supposed predictions of what your book would earn. This can range anywhere from a few thousand dollars if you're starting out, or millions of dollars if your name happens to be Stephenie Meyer or Neil Gaiman.
Once you receive the check for the advance, it's yours to cash, use and keep regardless of the total sales when the book is out. And once your book starts earning royalties, the publisher would deduct the monetary advance from the royalties earned to date.
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.
Most writers are happy if they receive a total of $50,000 on their first book. Your overall sales would be the determining factor when negotiating for another book with the publishing house.
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.
You can read up on several sources online if you wish to find out more about selling e-books. Selling books online is becoming an increasingly popular way to self-publish all types of writing.
Before you sell your works and hope for a healthy profit, there is one thing you need to do, and that is to research, research, research. It doesn't matter if you do so on the Internet, buy books, or go to the library - there's a wealth of information that can help you on your quest to becoming a successful writer.
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.
If you get lucky and a major publishing house thinks your work is worth publishing, then you can expect an advance based on the supposed predictions of what your book would earn. This can range anywhere from a few thousand dollars if you're starting out, or millions of dollars if your name happens to be Stephenie Meyer or Neil Gaiman.
Once you receive the check for the advance, it's yours to cash, use and keep regardless of the total sales when the book is out. And once your book starts earning royalties, the publisher would deduct the monetary advance from the royalties earned to date.
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.
Most writers are happy if they receive a total of $50,000 on their first book. Your overall sales would be the determining factor when negotiating for another book with the publishing house.
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.
You can read up on several sources online if you wish to find out more about selling e-books. Selling books online is becoming an increasingly popular way to self-publish all types of writing.
Before you sell your works and hope for a healthy profit, there is one thing you need to do, and that is to research, research, research. It doesn't matter if you do so on the Internet, buy books, or go to the library - there's a wealth of information that can help you on your quest to becoming a successful writer.
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