Thursday, April 30, 2009

You now have insider information!

How many of you have read about how much best sellers actually make? L Viehl shares in this blog how much they actually earn. While it was a little discouraging for me to see that she received a $50,000 cash advance and only began to receive royalty statements about a year after the books RELEASE, it also is a very useful article to see how a best selling author determines her marketing budget [yes, even best sellers use some of their cash to promote their books.]

What is great is that in this blog posting we're able to see the wizard behind the curtain and get an idea of what our actual potential is in publishing.

Here is the positive view. This is ONE book! For a writer who wants to build a business as a writer it is likely to do more than write a single book in a year. Furthermore, 1/2 that advance is still $25,000 which is a decent wage.

This demonstrates again the need to have multiple streams of income in your writing business. You need to have a marketing strategy that not only points to your current book but to your developing back list [books you've previously published]. This is a growing warehouse of products you're creating. Think also of the teaching opportunities that come with a best selling book. What articles can you write? What auxiliary services can you provide [remember those from a few weeks ago?]

What this shows you is that the book can be the "infusion of capital" that fuels your writing business. Rather than being the end result, a cash advance can actually be the ongoing income stream that helps you build your actual writing business [which includes not only books and articles, but speaking, teaching and other products/services.]

It's about thinking flexibly about your writing career. It is about seeing how everything works together and then creating a business plan that will capitalize on the REALITY rather than the ILLUSION.

You have information that most people only dream of. Use it to your advantage!

Tiffany Colter is a writer, speaker and writing career coach who works with beginner to published writers. She can be reached through her website at
Learn more about Tiffany's Marketing techniques on her main blog.
Common-sense money management is free at The Balanced Life website.
Read Tiffany's award winning manuscript "A Face in the Shadow" on her fiction blog.
She writes a blog for the Christian writer Tuesdays at Writer's Rest.

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