It seems like everybody has been touched by this lousy economy. I read a report yesterday that explained why this is by far the worst economic climate of our lifetimes. Not only is unemployment at more than 8%, but the world of work has changed considerably. Over the past decade, there were many more people who were working at home, working part time, telecommuting, and cobbling together a living. If you include all those people (who weren't "laid off," they simply no longer have freelance jobs available to them), the unemployment rate is something closer to 15% — the worst since the Great Depression. We've certainly seen that in publishing. Every house has cut staff, most have trimmed the number of books they'll release. Borders is on the ropes, some publishers look like they may be in trouble, and even Scholastic (who made a fortune introducing the world to Harry Potter) appears to have some serious issues. There's carnage everywhere in publishing. And even though we know that books are recession-resistant, overall sales have been down. 

What does a writer do in this sort of economy? I'd like to make a handful of suggestions to you. 

First, while things in the world economy may be dire, a depression isn't just about the world. It's about your individual projects. So, if you don't mind, I'd like to suggest you take break from the unrelenting bad news heard on the mainstream media. And even the sidestream media. I mean it — turn off the TV, don't listen to talk radio, and stop checking FoxNews.com. It's the Christmas season, so give up broadcast media for a while. Consider yourself on a "news fast." You might think it's silly, but if you try it, you'll soon realize the benefit of not having fear-mongers and outraged talk show hosts fill your head with bad news. Decide you're going to take from now until Martin Luther King's birthday and stay away from the news. See if your attitude doesn't improve. (And let me tell you how this works for me: While many agents are spending time whining about the lousy publishing economy, I just keep working on the projects my authors represent. And I find them selling. Maybe not as many as two years ago, and maybe not for as much as they'd have sold for one year ago, but I"m still doing deals for people. Even in this bad economy, there are book deals to be made. I've found this to be true with other agent friends of mine — we just keep working.) So turn off the Chicken Little, World-Is-Coming-To-An-End types, assume somebody will tell you if something important happens, and focus on your writing. 

Second, I want you to consider recent sales. Because the contracts I negotiate for my authors generally have confidentiality clauses, I'm not going to reveal the particulars, but I can tell you this much: the majority of deals I've done in the past five months have been exclusive. In other words, the project was created with one particular publisher in mind. There was forethought put into what the project would be, and who it would be aimed at. The author really focused on the needs of a particular house, created it especially for that publisher, and we sold it to them. Of the last ten deals I did, eight of them were designed with ONE publisher in mind. Let me offer one example, since it shows some insight into the way this works… Gina Holmes runs the popular "Novel Journey" website. She has worked on that for years, meeting people, making connections, slowly building up a name that people in the industry would recognize. When she began writing, she didn't have one particular house in mind, but she knew she had a strong story that would work in the market. Over time, we began to target one publisher that would be a nice match for her story. 

I spoke to the editor in charge of fiction there, so she'd know Gina was working on a book for her. The two spoke, the editor offered ideas for helping improve the story. Over time, Gina created exactly the novel that publisher wanted. And because Gina wasn't in a hurry, she was able to create a much stronger book. In the end, they made Gina a great offer — much better than she'd have received if she had simply banged something out
. There's not any one factor in this, but several ingredients that came together — Gina's platform, her story, her writing ability, the relationship with the publisher, the allotment of time to let the story build, the feeling of partnership that developed (since we all prefer to do business with people know and trust). In a lousy economy, that's how publishing still works. So think about creating a book that is ideal for one house. (And this would be a great place to mention that Gina's novel, CROSSING OCEANS, is releasing next summer. It's going to be great!) 

Third, even if there's financial discouragement around you, commit to write every day. It's what you are gifted at, and what you are called to do. Why give up your best gift and your calling at a time when things are tight? Fix a time in your schedule, sit down at the same place each day, and bang out those thousand words (or those five thousand, depending on how fast you work). Continuing to write is probably your best therapy when the rest of the world looks like it's falling apart. Besides, in a world that's struggling, there is still a need for books that will change us, inspire us, encourage us, spur us to action, offer us an entertaining escape, or cause us to live more effectively. 

Fourth, if you really are worried about your writing career in this lousy world economy, do something for someone else each day. I mean it. When you do something tangible for someone else, when you encourage them or make a point of complimenting or thanking them, it changes your attitude about the world we live in. In her wonderful book Making a LIterary Life, Carolyn See says the two essential elements in a writers life are to write a thousand words a day and to send someone a charming note each day. That's great advice. So if you're concerned about the world and the economy, then take eight minutes every day and send a thank you note to that editor who talked with you at the conference, or write a note of encouragement to that author whose book you liked, or tell your publicist how much you appreciate her. Sure, it's a great way to network. But that's not the reason to do it – you do it because it's one of the few things you can do as a writer that will get you out of your own world and into the world of someone else. Aren't you always encouraged when, out of the blue, you get one of those nice "thank you" notes for something you did that you considered a small token? Hey, we've had some very tough things happen lately. A couple authors I represent are married to people who have lost their jobs. A couple folks have faced serious health issues. A couple authors lost a parent or father-in-law. Several are facing a serious financial crunch. One good buddy, a wonderful guy who is doing a series of books with Bethany House Publishers, lost his twelve-year-old son unexpectedly just a few months ago. He and his family are facing their first Christmas after a huge loss. People need encouragement, and that's one tangible thing you can provide.

Fifth (and get ready because I'm about to sound like Pastor Chippy), examine your faith in God. Our treasure isn't in this world. Our trust really isn't in our stock portfolio or our 401k's. Our trust is in God, and He wasn't surprised when this depression began. He isn't sitting in heaven, slapping HIs forehead in surprise and saying, "I sure didn't see THAT coming." The fact is, I don't care if you're one of those people who reads this blog for the publishing advice and doesn't really believe in God. I have full confidence that God is still in charge, and still paying attention to this world, even if it looks like it's all falling apart. He still cares about you, and will still take care of you, even in difficult circumstances. So learn to trust God, however you perceive Him to be. If you're finding it hard, commit to reading your bible a bit each day in order to build your faith, and take the time to talk with someone about your concerns. We're all in this crazy business together, and at heart, we all love it. Publishing can be fickle, and certainly has the ability to ruin a promising day, but the fact is, we all know that words still matter, and if God really exists, that means He is in charge of publishing just like He's in charge of everything else. End of sermon.

I hope you have a merry Christmas. If you've got a question for an agent, send it in, because next week we're going to do a series called ASK AN AGENT. You can ask anything you've always wanted to ask an agent, and I'll try to answer it briefly but completely.  

Um… are YOU the one who sent me the Esther Price chocolates? Because they just showed up today on my doorstep. No card, no name. I'd like to send a thank you card, but…

A bunch of quick questions and answers on the world of publishing today…

Mike wrote to ask, "Would you recommend an aspiring writer attend a seminar like 'Story' by Robert McKee?"

Absolutely. I think attending a good writing seminar or conference is one of the best investments a newer writer can make.

Tim wants to know, "What do you make of Kirkus Reviews closing down?'

Hate to see it. If you haven't heard, Nielsen Business, the owner, is not only shutting down Kirkus Reviews, but selling off Adweek, Billboard, and The Hollywood Reporter. Kirkus has been around since the Great Depression, and while it had a reputation for savaging a lot of books, it was also an influential source for writers and publishers. But reviews have moved to the web, so that's the place to go if you want info on books these days. 

Wanda asked this: "Are digital books going to ruin the book publishing business?"

Nope. They're just the latest form of books. I would note that this week some of the big publishers (Simon & Schuster, Hachette, and Thomas Nelson) announced they would delay some of their e-books until after the hardcover has had its own sales season. Some reviewers saw that as a mistake, as though publishers were caving into author and agent demands. Baloney. They're doing it to try and bring perspective back to the industry. Amazon does everything in secret, demands exclusivity, and has been no friend to authors with its financial demands. Everyone is waiting to see what happens when Apple releases their e-reader next year, since word is they're going to be much more publisher-friendly. 

Marvin asked, "What is the best website you read?"

There are several, and I've mentioned them in the past (Mike Hyatt, Rachelle Gardner, NovelJourney, Writers Digest, Absolute Write, Publishers Marketplace, etc). But let me steer you in another direction… If you come to this site and you've got a church background, by all means check out Stuff Christians Like. It's one of the ten-most-read religious websites in the country, and it's a hoot. The author, Jon Acuff, has a book coming out with Zondervan next spring, and people have already ordered thousands of copies… for a book that is five months away from being printed. Amazing stuff. Funny and insightful, and the author is being asked to speak at conferences everywhere. Check it out at www.stuffchristianslike.net

Amy wants to know, "Is the market glutted with YA fantasy right now?"

There's certainly a lot, and most of it fueled by TWILIGHT (for a market that, in my view, was begun by the success of the Harry Potter books). So, yeah, there's a lot of YA fantasy right now. A glut? Depends on your perspective. As long as it keeps selling, there's not a glut. 

Timothy asked, "Does the movement of traditional publishers into self-publishing mean that the publishers are all destitute?"

No. But this economy sucks, and books, which traditionally have been recession-resistant, have been hit hard. Publishers are in business to make money, and the technology and distribution of books has changed significantly in recent years. So some of them (notably Thomas Nelson and Harlequin) have announced they're opening up a self-publishing division. (And, in case you're wondering, MacGregor Literary is in business to make money as well. If I saw an idea that could produce good income, and I thought it fit with my skills and the vision of my company, I'd have to explore it as well.) Correction: Michael Hyatt, the president at Thomas Nelson, wrote to say they are NOT delaying the release of e-books.

And some notes from the world of publishing…

–I think it's cool that David C Cook Publishing is starting a debt-relief plan to help out small Christian retailers. You don't see THAT sort of ministry-minded thinking in this business very often, so it should not be overlooked. 

–The Prayers of Agnes Sparrow is number 6 on the Kindle bestsellers list… which is amazing since the book was one of the first novels ever released by Abingdon Press, the book publishing arm of the United Methodist Church. Library Journal just named this novel from Joyce Magnin as one of the top five Christian books of the year, so Abingdon is giving it away FOR FREE. If you've got a Kindle, drop by Amazon.com and download it. (If you don't own a Kindle, they've even got a free software download that will let you put it on your computer. How sweet is that?!)

–And as long as I'm bragging about the authors I represent, I want to add that Ann Tatlock's The Returning also made the LIbrary Journal list. So TWO of the top FIVE Christian novels this past year are books we represented. Time to celebrate! 

–Wayne Pollard is a cartoonist who creates a funny world where people discuss books over their coffee cups. If you're unfamiliar, check it out at: http://boscafelife.wordpress.com/

Got a question about writing and publishing? Send it in and we'll offer you an answer. 

Interesting article in Friday's USA Today regarding the digital reader wars. Lots of talk about the impact they are having on the industry, which we can discuss later.

    In the meantime, in light of the fact that gift giving is on everyone's mind and several folks have emailed me recently asking if I have thoughts or opinions about one over the other, I thought it would be timely for us all to discuss the pros and cons of readers, and discuss their features and benefits.  Maybe this discussion will be too late for all but the last minute shoppers and those who have parking and shopping angels on their sides, but I thought it would still be interesting and helpful to create a forum for those of us who have taken the digital reader dive to share what we've learned.

    I own the Sony Reader and love it. I'm a fan of quality (basically because I'm thrifty and hate having to replace expensive electronics) so was really excited several years back when Sony announced they were creating one. I made myself wait until the second (or maybe it was the third) generation was released, and I bought the PRS 505. I've been very happy with it. Of course they've tinkered with it and released several newer versions: one with a backlight which quickly proved unpopular; a touch screen version which allows the user to highlight text and take notes and creates the sound of a turning page; and a more compact version (perhaps in an attempt to satisfy people under forty who are still capable of reading tiny, tiny print?)

    Obviously I've closely followed Sony's progress, though I've yet been lured into an upgrade. Thing is, I mainly use mine for reading manuscripts and proposals, and it serves that purpose very well. It handles PDF's and Word docs beautifully, with no conversion needed. (I do have to save them to Sony's ebook library on my computer and then move them onto my reader via a cable, but it's a simple process, and I like that everything is backed up on my own computer in my library.)

    To tell you the truth, I've yet to actually purchase a book for it, but it works very well with library programs and handles most audio books nicely. I'm shopping now and planning to treat myself to a pair of noise canceling headphones to go with it. Big decision in front of me is whether the new pair from Bose (vs. Sony) is worth the extra money.

    Back to the reader, though. There are other readers on the market, of course. In addition to the Sony the most popular are Amazon's Kindle, and the latest new the Nook from Barnes and Noble is making a splash.  If you've had the Nook in mind, either for yourself or as a gift, you'll have to settle for a gift card at this point as they are not shipping any again until after the first of the year. As far as I know, the Kindle is only available online, so there may still be time there. The whole Apple universe is foreign to me — I'll let someone else chime in there.

    Whether or not it benefits last minute gift givers, I'd love to hear from users regarding the pros and cons of their particular reader, and the ups and downs of using one. 

    Let's compare notes …

Cool news! In 2010, I'm going to co-teach a writing seminar with bestselling novelist Susan May Warren! We're going to explain the elements of a bestselling novel, show how to create great characters, and help you get going with the plotting of a story that is both memorable and meaningful. We promise to make the whole process understandable, and you'll leave having taken a major step forward in the creation of your novel.



We do all this in a Friday-Saturday seminar, and hope you can join us. Susan and I are going to offer this four time in 2010 — In Phoenix January 22-23, Atlanta February 26-27, Portland April 23-24, and Denver June 18-19. We'll start at noon on Friday, so you'll have time to fly in that day. We plan to be done by dinner time on Saturday. If you're at a place in your writing where you want to know the secrets to moving forward with a good, commercial novel, we hope you'll make plans to be with us.



If you'd like more information, check out our website at:

www.themasterseminars.com

Back to the questions you're asking… On recent blogs, we've had some people ask questions in the "comments" section that I felt would be helpful for everyone to read. 

Lea Anne asked, "With publishers facing such a tough publishing environment, are advances going to be a thing of the past? Do you see publishers moving toward book-on-demand systems, and paying authors with royalties only?"

It's true that advances are down (I've heard several agents use the joke "Fifteen is the new thirty" when talking about the deals they're doing). And yes, we're seeing some elements of publishing move away from paying any advance, relying strictly on royalties to compensate authors. There's some fairness to that, I suppose, since it mitigates the risk for publishers. But no, I don't see advances going away. Here's why… publishing is a competitive environment. Every company is looking to sell more books than the other guy. And publishing is very much an 80/20 business (that is, 80% of the income comes from 20% of the books). In fact, publishing might well have become a 90/10 business in recent years. The big, breakout books are what pays the bills. And to keep signing up bestselling authors, publishers are going to have to pay advances, because an author routinely hitting the bestseller lists is going to get offers from other publishers. So if one house decides not to pay an advance, you can be sure somebody else will. 

Things are definitely changing, of course. Publishers are getting squeezed by bookstores, who want to be able to return any unsold books. That's not how it works in most industries — you purchase product, and if you can't sell it, you discount it and sell it for less, or use it as a loss leader, or give it away. With books, if a store hasn't sold them in 90 days, they can return them for full credit, so the publisher has unique financial pitfalls to deal with. And publishers are taking steps to put more of the burden on the authors — Random House's decision to try and withhold one-quarter of the advance until a year after a book releases is one very unfair example. (I'll bet they aren't asking the printer to wait a year to be paid 1/4 of their fee, or UPS to wait a year to be paid 1/4 of the deliver charge.) We're seeing publishers try new avenues for making money (the recent decisions by Thomas Nelson and Harlequin to get into self-publishing is just one example). But do I think all advances will disappear? Nope, I don't. At least not anytime soon. An author understands that, at some point, he or she needs some sort of guarantee that they're going to make SOMEthing for their work. 

On a related note, Cecelia asked, "Is it true some big-time, bestselling authors don't earn out their advance? They get a huge advance, and the publisher knows they won't earn it out, and that's okay? Why would a publisher do that — just to make the author happy?"

Actually, the majority of books don't earn out their advances. And yes, sometimes a publisher will pay a huge advance on a book because they know they can sell enough to make money even if the book never earns out. But this gets to a truth many authors miss: just because a book doesn't earn out its advance, that does NOT mean the publisher lost money. Some writers just don't understand this. An unearned advance means the publisher made less, but it does not equate to a "loss." If you did a book with Acme Publishers, they paid you a $10,000 advance, and you earned back $9000 of it, the overall numbers don't equate to a publisher "losing" $1000. Why? Because you, as the author, were paid 10% of the retail price as your royalty. Where does the other 90% go? To the publisher. 

That's not a bad thing, of course. The publisher is the one who put up all the money to edit, design, cover, produce, and ship your book. They've got big costs, even on a small book. But they've gauged your advance by the number of copies they think they can sell. If your book tanks, sure, they might lose money. But more than half of all books don't earn back their advance, and they couldn't stay in business if they were constantly losing money on each title. 

Let's look at some numbers… A 256-page hardcover book costs about $3 in ink/paper/binding costs. There's another dollar in overhead costs, maybe some money in marketing. So the publisher is into your book somewhere between four and five bucks. The book retails for $21.99, and they sell it to Borders for a bit less than ten bucks. They pay you a royalty of $2.20, and keep the remaining $7.50. So their profit after all expenses is maybe $2.50 per book. If a book breaks out, the production costs go down and the profits go up. They try to plan out a strategy where they won't actually LOSE money on the book. A publisher will argue that they "lose" money if an advance doesn't earn out — but in the big picture that's not correct. What really happened is that they didn't make as much profit (which is different from losing money). 

And Susanne asked, "How does an author working with a smaller publisher wrangle a good contract without an agent? I'm on my fifth book contract, but because I work with smaller publishers, I've had agents say, 'You're not worth my time.'"

There's nothing wrong with an author choosing to work with a small house — I did it myself when I was making my living as a writer, Susanne. The best thing to do is to become self-taught at things like contracts and marketing, since you're going to have to negotiate your own deal AND become your own marketing manager. If you want to wrangle a good contract, you're going to have to learn how to negotiate, and that means learning the economics of publishing (so that you make it a financial win for both sides) as well as learning how to talk through the process and stand up for yourself. You should definitely study up on book contracts (Mark Levine and Jonathan Kirsch both have good books on the subject), and maybe do some study on the art of negotiation (there are dozens of good books on the topic). The biggest thing I've found when negotiating with a small publisher is to understand their economy of scale — what is reasonable and workable for their size company? what added value can I bring? what is and is not important to me? 

As for having agents tell you you're not worth their time… well, I'm sorry, and I sincerely hope they were more polite about it. But do understand the cost-to-value equation. If you're doing small deals, and their commission is 15%, it may NOT be worth their time. Let's say I help an author do a $1000 deal… my commission on that is only $150, but it takes just as much time as a $10,000 deal. Frankly, I could earn more doing something else, so the cost-to-value isn't there for me. I might help answer some questions just to be nice, but… well, I'm not sure it would be worth it to me to take it on, then face doing several more $1000 contracts. You could try talking to newer agents, who are often willing to do smaller deals just to get their foot in the door. But you've got to balance that by making sure that agent knows what he or she is doing, so ask questions. You don't want to get stuck with some Bozo who locks you into a bad deal because he doesn't understand the business. 

 

      I'll admit, blogging is not my favorite thing to do, made obvious, perhaps, by my lace of presence here. It's not that I'm a wildly private person or anything so mysterious. It's simply that when I sit down to blog, something else which feels much more productive is waiting for my attention.

    I honestly don't know how Chip does it all. He's a genius, of course. With an unlimited capacity for words. I think he must never sleep or eat. Though I do happen to know he'll pause to tip a Guinness once in awhile. But, hey, he's Scottish. It's required, I think.   

    Don't take it personally that I don't show up here often. I love you all, I really, really do. Thing is, I prefer to ponder topics for awhile before I bother putting them on paper (yeah, I'm so, so deep!) Ugh. Not what I meant. 

    Anyway … I've been thinking a lot lately about how much time it takes to build a career in this industry. Whether on the author, editorial, or agenting side of things, this is a slow business.  Writing is slow. Publishing decisions and the editing process is slow. And the money is getting slower than ever. Success in this business rarely happens overnight, though I often get the impression that's what authors are after.   

    So, the other day I was at the Nike employee store exchanging some shoes a friend had purchased for me. On the wall behind the counter hung a framed poster of one of Nike's original white leather models. Maybe you can picture it? The long, rounded toe and bright red iconic Swoosh along the side. I had a pair just like it in high school.   

    As I pushed my shoes across the counter and waited, I looked at the poster and it got me thinking about Bill Bowerman and Phil Knight's collaboration. About how their long-term partnership, which I happen to know began the year I was born,  didn't really pay off big until a decade later when, in a blink of inspiration, Bowerman poured liquid urethane into his wife's waffle iron and created their trademark outsole.   

    I thought about that waffle iron idea and wondered if they knew at the time that was the moment which would help define who Nike would become. Did they realize they were creating something upon which entire careers would rest? Could they possibly forsee the colossus world headquarters they would eventually build?  Probably not.    

    At that moment they were just trying to fill a need. Build a shoe for Bowerman's star runner, Steve Prefontaine, which would grip the new running track at the University of Oregon. (Yes … THE University of Oregon. The very same place where, this week, the Ducks shut the door on the Oregon State Beavers first chance to return to the Rose Bowl since WWII. Sigh. Congratulations, Chip.)

    Bowerman's idea must have seemed strange at first. Especially to his wife. And it was probably hard to
explain, like most ideas are at first. But, Bowermans's willingness to
take a risk and Knight's motivation to find a market for their product
eventually turned into the worldwide empire we all take for granted
today.   

    It took decades for them to build Nike into the entity it is today. Love 'em or hate 'em, Nike employs over 30,000 people. In fact, in my neck of the woods, you can't swing a golf club without hitting someone employed there. Sports memorabilia, artifacts, and tributes are all over the Nike Campus. Some of the world's recent top athletes have entire buildings named after them. Prefontaine, Jordan, Armstrong, McEnroe, Woods (hey, I said TOP, I didn't say admirable. Let's try and stay on the subject here, k?)   

    Which is what?, you're probably wondering. Well. Here's the big aha I've come to in all my pondering.  When Phil invited Bill to become his business partner, Bill might have originally been motivated to do so to encourage his former track student. Or, he might have recognized a business opportunity. Or both. But, you can bet he was motivated to say yes to Phil's invitation because they had a common vision. Together they recognized the world was in need of a better track shoe.   

    Did it happen overnight? Nope. But, they stayed with it until, together, they figured it out. Their combined efforts created a product and a company which would change the habits and expectations of consumers. It's history now, but at one point, it was just an idea.   

    You know what? I see and hear ideas ALL THE TIME. Some are inspired, others, not so much. Some obviously have experience and substance behind them. Others are as thin as the air they were pulled out of.   

    A big part of my job as an agent is recognizing the potential of an idea and seeing beyond what is staring back at me in black and white.   

    Wanna know when I get most excited about an idea? It's when I see the combination of a great idea, and the promise of great writing, delivered in a fully developed, executable proposal. When I see that an author has worked hard, taken their time, done their due diligence, and carefully delivered a fully developed proposal which proves they can execute the idea beyond the writing of it, I sit up and take notice.   

    For me, a good proposal is where the rubber meets the, er, track. It's really frustrating how many folks send or pitch me an idea, but then don't back it up with a full, clear proposal. Worse is when I ask to see something and then receive bits and pieces of a project as if the author expects that I have the time to wade through it all and put it in order.

    Oftentimes I
will help and consult with an author on a proposal. And sometimes, I'll spend a lot of time with it, but only for the best of ideas. I think authors need to do
the research, invest some grey matter, study the market, prove they
know what they are asking me, and prospective editors to invest in.   

    I'm picky about proposals, and getting pickier all the time. And for good reason. I know that when an editor agrees to take a proposal to their team, and possibly then on to a pub meeting, they are in the hot seat with the idea. They have one shot to present an idea, and they need the proposal to be bullet proof.    

    Don't get me wrong. I've seen some good ones I've had to pass on for various reasons. I can't possibly handle every project which comes my way. But, the ones I do choose to take on need to deliver.

    Authors who are willing to accept that their original idea may need a little tweaking here and there;  those who understand that my job as an agent is to help make it accessible, available, and attractive to prospective editors and publishers — those are the authors I most enjoy partnering with.   

    And, like Bowerman and Knight, I like to think that together, we (I and the authors I represent) see their career as a product in the making. One which may take time to develop. It may not eventually come in hundreds of shapes, sizes, colors, and product lines. We may not launch world-wide empires, nor have a crystal clear vision of what the future will bring. But, in the end, I want to work with authors who will invest time, effort, and dedication on their end, and who trust that I have their backs – even when the rejections keep coming and the waiting gets unbearable – and who believe that, together, we have what it takes to run the race for the long haul.  

Now that Thanksgiving has come and gone (note the word "turkey" in my title), I know we're all starting to think about that joyous season that's just around the corner… A time when men and woman think deep thoughts and spend too much money. I'm speaking, of course, about tax season. You see, you're about to spend a ton of money on gifts at Christmas, then you'll be facing all those one-time expenditures like life insurance that arrive at the start of the year, then right after that Uncle Sam will come with his hand out, wondering where HIS little bit of income is. Really puts you in the holiday gift-giving mood, doesn't it? So let's talk about money in publishing for a few minutes.

Diane wrote to say, , "I can't seem to figure out when I'm getting paid on my publishing contract. it's driving me crazy!" 

One of the things I've noticed about many of the writers I've met with over the past several years at writer's conferences is that they often aren't clear WHEN they are paid. For the record, most contracts I negotiate are paid half-n-half — that is, half the advance is paid within 30 days of signing the contract, and the other half is paid upon completion of the writing assignment. Some publishers will pay in thirds, with the last third being sent upon publication of the manuscript. And, in fact, that's probably going to become more popular with publishes, as they try to spread out the risk more and more. 

That said, there are a number of variations to this. I once did a contract that was paid in sixths (signing, upon creation of an extended outline, the rough draft, the completed draft, publication, and…um…Lindsay Lohan's birthday or something — it was pretty stupid). The POINT is that a writer wants to get as much money as possible, as soon as possible. That's why we agents fight having a check delayed. And it leads into the next question…

Ben wrote and said, "I had a big-name author tell me she never takes and advance. Why should I?"

You should because you worked to produce the book, Ben, and you should be paid for your work. Sometimes a big-name author doesn't ask for an advance because they don't need the money. If that's your situation, wonderful (and can you loan me twenty bucks?). But think of it this way: If a publisher makes you an offer in January 2010, you may not see a contract until March. Then you spend six months writing the book, so you turn it in by September. They take a year to produce it, and finally get copies on bookstore shelves in August 2011. You're now into it more than a year-and-a-half. Without at advance, you've earned nothing. On top of that, the publisher is going to take EVERY STINKIN' DAY ALLOWED before he pays you. (If the contract says you'll get a check within 90 days, you can bet he won't be sending it until the 90th day.) AND if the publisher tried to talk you into doing a cheap deal because "you'll get the money on the back end," that means you have to wait until the book has been out there for a selling season, so the accounting on your royalties isn't done until December 31, 2011. THEN they'll wait their 90 days to send you your check. And that means that great book contract you sold in January of 2010 won't actually put any money into your pocket until March of 2012. And no, your publisher, who has been selling your books and collecting your money, doesn't plan to pay you any interest on the money they took in months ago.

I'm not saying it's unfair, I'm just saying advances are not an evil, or even a necessary evil. They're part of the business, and they help writers survive while creating their art. NOW do you see why agents have a tendency to clamour for advance dollars?

Carol wants to know, "What can I do about a publisher who hasn't sent me my completion money?" 

Technically, your completion money is due when you turn in your manuscript. But publishers have slowed that down in  recent years by saying your manuscript has to be turned in, edited, and approved — which sounds fair in practice, but it sometimes seems as though projects have approval withheld just to keep the publisher from paying on them. (Note that I said "sometimes." Not "frequently.") What can you do? You can have your agent call them and ask the hard question. Of you can do it yourself. You're all in a legally-binding contract, so this probably says something about understanding what you're signing when offered a contract, Carol. 

When I was a free-lance writer, I noticed that publishers (both magazine and book) tended to put me on the bottom of the pay ladder. I once called a publisher to complain that I hadn't been paid, and the response was, "Oh. Yeah. Sorry. Guess we'll get you next quarter." The measley $1500 they owed me meant little to them — but it was MY HOUSE PAYMENT FOR TWO MONTHS. So, yeah, I eventually got over my reluctance to talk money with publishers. (I'm not nearly as nice as some, I suppose, but I make up for it with consistency.)

And this is a good time to face facts: If you're uncomfortable talking about money, or you can't be bothered nagging that publisher who keeps forgetting to pay you (and there are a couple who are really slow), then you need to find an agent you're comfortable with, who is competent with both numbers and negotiation, and talk to him or her about handling this for you. You'll find it's worth it to you.

Got a question about money and publishing? Send it along…

-Chip MacGregor

A couple of folks have asked if I'd offer some thoughts on how to self-publish successfully, since we were recently chatting on this blog about self-publishing options. If you go to Lightning Source, the setup for the book is $35, plus another $35 for the cover. You also pay another $35 for the ISBN number. They'll send you a cover template (complete with barcode, which you MUST have if you're going to sell it in any store). You'll pay about $3 each for the ink/paper/binding of a 200 page book, or $4.50 for a 300 page novel, plus an extra $1 apiece for the cover. You can order as few as you want, but you'll discover there are discounts starting at 50 copies. Then you'll have a shipping charge added to that. They're fast, and will get you your books in about two to three weeks. So… your total per book cost is going to be roughly $6 per book, give or take how many pages it is, how many copies you get, and what all you do with the cover. 

You know why most self-pubbed are looked down upon? Because they are badly written, poorly edited, and have lousy covers. (Wait — before you self-pubbed types write to tell me how wonderful your book is, you should know that I've done this a long time. I've self-pubbed my own books. I've been involved with dozens of self-published titles. And I've been in the industry for a couple decades. Believe me, I can recognize crappy writing, editing, and design — and most self-pubbed titles have all three. Yours may be the exception, but that's the common impression people hold of self-pubbed books, and they hold it for a reason.) So keep this in mind: There are a lot of good people working in publishing, and if they all say the book isn't that good… well, they may be right. So don't parade your arrogance around by publishing another lousy book. 

So what can you do to make your self-pubbed book better? First, do your research. If you don't know anything about the process, talk to some people who have successfully self-published. Second, hand it over to a professional editor. That might change your book cost by dollar or two per copy, but it's worth it. A second set of eyes will catch things you've missed because you're too close to it. Be wary of paying an editing fee to a vanity press, who may or may not have quality editors on staff. With very little work,you can locate a good editor to assist you with your book. Third, invest a couple hundred bucks with an artist who can create a nice-looking, salable cover. Again, this will drive your price up. But you'll never sell a book with a bad cover. (In fact, I've seen pretty good books fail because of horrid covers.) Fourth, before you hand over your print file, hire a copyeditor to do one last check. Yes, that's another expense… but having that third set of eyes will simply make your book look much more professional. Fifth (and perhaps most important), have a plan in place to market your book BEFORE it releases. Most self-publishing authors fail because they can produce the book, but then don't know how to sell the actual copies. 

I've self-published several books successfully. I did hardcover nonfiction books, had a lot of editing done, paid an artist for the cover, and had a plan in place. Those books cost me about $8 each. They were a specialty item (books of card tricks for magicians), so they had a high retail price tag — $40. That worked great for me, but I knew exactly how to sell books of cards tricks. I knew which magazines card magicians subscribed to, knew how to get them reviewed in magic magazines, knew how to get the books to magic conventions, and knew who my audience was and how to reach them. I also knew their language — what they wanted in a book of card tricks. So I had a plan for selling the books. I've helped other people do trade-size paperbacks. Those cost about $6 each, and they normally sold for $10-$12, so the author was making more on his self-published books than if he had sold the book to a traditional publisher and received a royalty. BUT HE HAD AN AVENUE FOR SELLING THEM. The issue for most self-published authors is that they think through how to get the books, but not how to sell them. If you don't have a platform, if you don't know who and where your audience is, and if you don't have a written plan to reach them, you're probably just publishing a book out of vanity. 

Think about this: Some of the self-publishing ventures you'll discover will charge you as much as $100 per book. They'll try to get you to sign on with their marketing efforts (generally for a very large fee). They may or may not deliver on their promise. Think of it as building a house — you can pay a big fee to a general contractor to have it done for you, or you can do much of the work yourself and get it done for less money. I'm not saying the self-publishing companies are unfair — they're just trying to make a profit. But be aware that you can probably accomplish the same thing for far less money. 

Two other notes: First, there is, in my opinion, almost ZERO market for self-published novelists. No matter how much time you spend improving your manuscript, people don't want to buy a novel unless it comes from a legit source. You have to hand-sell every copy. If you've got a big group of friends, and you're satisfied you can make this work, have at it. But be aware that you're not going to make any money. Second, my friend and fellow literary agent Rachelle Gardner put it very well when she noted recently, "Understand that self-publishing is an alternative to regular, royalty-paying commercial publishing, not a stepping stone to it." She said it perfectly. I don't believe that your self-pubbed book will get you a publishing contract with Random House or Harper Collins. Just so you know. 

Let me close with something you'll appreciate… A couple years ago, some folks decided to try and find the worst self-published book on the market. I was sent a copy of the winner, just for a laugh. The title: How to Good-bye Depression. The subtitle (and I swear I'm not making this up), is: If you constrict anus 100 times everyday. Malarky? or Effective Way? 

With a guaranteed winner subtitle like that, I'm sure you'll agree this must be one life-changing book. The author is Mr. Hiroyuki Nishigaki. His chapter titles include: Turn to bay throwing away pride, Save sex energy and rotate vortex, erase your bad stickiness and multiply various good feeling, and of course the immortal Stare, shoot out immaterial fiber, ucceed in concentrating, behave with abandon-largess-humour and beckon the spirit (I double-checked to make sure I had that one correct, complete with the word "ucceed"). 

There's obviously much to think about here. Rotating your vortex is no doubt a good thing. I
9;ve long been an outspoken vortex-rotator, as my friends can attest. And I'm all for erasing your bad stickiness — a topic that just doesn't get enough mention these days. I'm not as sold on shooting out immaterial fiber, but I may not be as far along in the process as Mr. Nishigaki. Still, you've got to admit the whole idea offers many helpful benefits. As he says in his back cover copy, "I think constricting anus 100 times and denting navel 100 times in succession everyday is effective to goodbye depression and take back youth. You can do so at boring meeting or in a subway. I have known 70-year-old man who has practiced it for 20 years… His eyes sparkle. He is full of vigor, happiness and joy. Furthermore, he can make * * three times in succession." The copy goes on to mention that this man has burned out his stickiness and is busy shooting out his immaterial fiber, so it MUST work. As the author puts it, "If you don't know that… your life looks like hell." 

Just think of the promise offered there. If you're facing a boring meeting this week, you may want to order a copy…

http://www.amazon.com/How-Good-bye-Depression-Constrict-Everyday/dp/0595094724/ref=sr_1_1?ie=UTF8&s=books&qid=1259546539&sr=1-1

I'm Amanda — Chip's assistant at MacGregor Literary. I've been handling the over-the-transom queries sent to the office for the past few months. It's been enlightening. Below are a few strange yet horrifically common trends I'm seeing with queries. They'll make you laugh, they'll make you cry, but hopefully, they'll make you check over your queries to see whether you're among the guilty. So, without further ado, I present:

Three Things Currently Annoying Amanda

1)    People who don't do their homework. Within a week's span, I saw about five different queries from self-professed psychics who wanted to take the next step in their career by publishing a book. Now, I've taken great pains to resist the urge to chastise them for wasting my time when they could just as easily have consulted their special powers and foreseen my inevitable rejection.

But I'm too nice. Furthermore, their failure to use their powers to their advantage isn't the core problem. The core of the problem is this: Authors seeking an agent don't do their research. A bit of poking around at macgregorliterary.com would have thrown up obvious red flags and told authors such as this that Chip typically represents Christian authors. He's probably not interested in anything that has to do with special powers.

2)    Relentless submitters. It's one thing if an author truly polishes their work and queries it again. It's another if they're on query number 77, having ignored the first rejection that came after query number 06 (yes, this has happened).

Another pet peeve are the authors who get antsy and resubmit a pending submition. My only piece of advice to these people is this: Don't get offended if this results in your work getting rejected twice. You submitted it twice, after all. It's only fair.

3)    Friends of the Archangel Gabriel. Believe it or not, I've seen queries from more than one person, claiming that the Archangel Gabriel visited them, told them super-sensitive information, and now it's up to me to see to the fruition of God's will in the form of a 90,000 work of nonfiction.

That's right. The fulfillment of God's will is dependent upon me. Me. (And you thought your job was stressful . . .)

Now, if only I could make them believe that my rejection is a sign from God as well . . .