When asked how the business of novel writing works in today's economy, I'm almost irresistibly tempted to say it doesn't.
OK. Not really fair. It does. . .sometimes. But only for a fortunate few.
My first novel, Funerals For Horses -- published by the shortly-thereafter-defunct Russian Hill Press -- generated an advance of $2,000. That was almost enough to retroactively cover the postage and office supplies I'd sunk into building a list of publication credits. But not quite.
My "big break" novel, Pay It Forward, paid off 50 times as well, advance-wise. Yet beware the big advances. Every author wants them, but your book had better earn out (generate enough royalties to pay back the advance). If it doesn't, you run the risk of being dropped by your publisher, in which case you might find yourself unable to secure another. Sales records aren't a secret. Past sales figures can be -- and are -- accessed by a new publisher before it makes an offer.
Read the rest of this article at DailyFinance.
By the way, Gina Misiroglu of Red Room put me in touch with the DailyFinance/AOL people, which is one of the great ways she's bringing traffic to Red Room and getting attention for Red Room's authors.
Causes Catherine Hyde Supports
The Pay It Forward Foundation, Marriage Equality (See Human Rights Campaign), the 350 movement to help ease global climate change, LandWatch San Luis Obispo...