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The High Cost of a Six-Figure Book Advance
by: Sallie Goetsch

The six-figure book advance, like the New York Times bestseller, is the object of many a writer’s fantasy. Whether it’s also a realistic goal is something else again.

*Can you really get a six-figure book advance?*

When Susan Page wrote *The Shortest Distance Between You and a Published Book* in 1997, she included the following list of the qualities that you and your book have to have if you’re going to get a six-figure advance.

  1. Your book is on a topic of wide general interest that could excite a large number of readers.
  2. Your book has a distinctive angle and makes an original contribution to its field.
  3. You have substantial credentials to write on this topic OR you have a co-author who does, OR you can get an extremely famous, well-credentialed person to write a foreword for you.
  4. You have prepared an extraordinary proposal and are working with a competent editor already.
  5. You have a show-stopping title.
  6. You secure the services of a well-known, experienced agent who believes the book can earn such an advance.
  7. You are both willing and able to promote your book on radio and TV and in print.

This is not a mix-and-match list. You have to have *all* of those things to get the big advance, unless you are an international celebrity or a best-selling author.

Page’s aim was to deflate unrealistic expectations. Her book aims to get you into print, not necessarily to get you rich. Most authors do not get rich from their books. Most publishers don’t get rich either. Book publishing is an industry in which there is very little profit. If authors get rich, it’s usually because having a book lets them sell expensive services and book high-paying speaking gigs.

*You can get a six-figure advance, but it will cost you.*

And I don’t mean the $197 price tag on Susan Harrow’s new e-book, Get a Six-Figure Book Advance. A $200 investment is nothing if it gets you a $200,000 return. Using the proposal template/software included with her $197 e-book, you’ll be able to produce the kind of proposal that will have publishers in hot pursuit—but getting the advance requires a whole lot more than just buying the book or even having all the right elements in your proposal.

*If you want a six-figure book advance, you’re going to have to work for it.*

Susan Harrow, jokingly known as a "de-motivational coach," doesn’t try to pretend otherwise. In her August 4th teleclass, co-hosted by ghostwriter Mahesh Grossman of the Authors Team, she made it clear just how much work goes into getting a six-figure advance, and how long and hard you have to keep working *after* you get the money.

*How advances work*

In order to persuade publishers to pay you $100,000 or more before your book is published, you have to convince them that your book will sell at least 100,000 copies. (Your royalty will be about $1/book for a trade paperback, possibly as much as $3/book for a hardcover, so you do the math.) And since books don’t sell themselves, what you’re really saying to the publisher is that *you* can sell those 100,000 copies.

Yes, a publisher that invests that much money in you will also invest more in the production and marketing of your book than in someone who gets a smaller advance, but when you get right down to it, no one really buys a book because of its publisher. And your book won’t sell just because it’s a good book. People rarely buy non-fiction books for the quality of the writing. They buy for the quality of the information—and in the mind of the public, that depends on the expertise and reputation of the author. It all comes back to you.

*How do you get readers to think of you as an expert?*

First, they have to know you exist. If you’re not already a celebrity, you’re going to have to become one, or at least put up a convincing show. If you don’t have legions of fans, you should at least have thousands of subscribers to your e-zine or blog, or a syndicated column in a newspaper. If you haven’t been on Oprah or The Today Show yet, radio interviews and local TV news programs are a good start.

*Getting into the public eye*

To get visible enough fast enough, you probably need a publicist, which means shelling out several thousand dollars. In order for media attention to do you any good, you have to look good and sound good every time you appear. That means getting professional media coaching before you start lining up interviews to make up for not being a celebrity. You need to arm yourself with a repertoire of sound bites for all occasions and rehearse until you can spout them in your sleep.

That doesn’t just take money, it takes time. It takes *work*. And no one can do it for you, either, because you, as the author, have to be the one in the limelight.

*Editing is essential for a killer proposal.*

Media coaches and publicists aren’t the only team members you’ll have to enlist if you want a six-figure advance and a book that justifies it. The services of a professional editor are essential for both your proposal and your finished book. In fact, you might just want to hire a ghostwriter and get it over with, because you’re probably going to be too busy marketing to write.

That’s more money spent in advance of getting your advance.

*Post-publication publicity*

You’re not through yet, either. Now that you’ve gotten enough media attention for yourself to impress a publisher, you have to do it over again for your book. You’re going to have to shell out a good-sized chunk of that advance on your own publicity efforts. More and more publishing houses assume that your advance *is* the marketing budget for the book, so they expect you to spend your own money on getting the book sold. (Tip: when mentioning this in your proposal, always make the offer contingent on the publisher matching the amount.) This expectation actually holds true regardless of the size of your advance, but the more money you want to get, the more money you have to spend.

*Six-figure advances are not for the faint of heart*

Writing a good book is the least of the challenges facing you when you set out to get a six-figure advance. Moreover, if you *don’t* earn out your advance by actually selling 100,000+ books, your chance of getting such a large advance again are nil. To succeed when the stakes are this high, you need to become an Olympic athlete of a book marketer. That can be hard to do if you have either a day job or a family, never mind both. And it’s almost impossible if you don’t have a substantial chunk of starting capital.

*Do you really need a six-figure book advance?*

For many authors, five figures is plenty, especially for a first book. Even if it loses money, that book will create the leverage the author needs to succeed in other aspects of her business. (That’s one reason self-publishing can be such a good option for business book authors.) Getting a smaller advance still takes work and costs money, but it’s a much more manageable goal for a first time author without fifty grand to invest in getting into the bookstores.

(c) 2005 Sallie Goetsch

About The Author

(c) 2005 Sallie Goetsch. You have permission to reprint and distribute these articles online, in whole or in part, free of charge, as long as you include complete attribution.

Author-izer and Collabowriter Sallie Goetsch started writing at the age four. She specializes in turning busy professionals into authors. Get free articles for your e-zine, newsletter, or website from http://authorizer.fileslinger.com or e-mail authorizer@fileslinger.com to ask about custom web content.

authorizer@fileslinger.com

This article was posted on August 17, 2005

 



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Steps to Publishing Success
 by: Zaak O'Conan

Even if your best friend owns a top publishing company, giving you an immediate "in," this does not guarantee publishing success.

First, you have to write a quality book that has a clear target audience. And your book must answer a common problem or need that audience shares. Then you have to develop a marketing plan, and stick to it for at least two years.

Let's begin with the process that should commence before you write your first word. Begin by reading A LOT. Read both books you passionately love and books you can't seem to make it past page five. Then figure out what the author did in the book you loved, and what was wrong with in the book you couldn't finish. Write down these points so they are crystal clear to you. Read other people's books for inspiration and to discover what you should avoid as a writer.

The next step is to plan out your book. Narrow down your subject, and then divide it into chapters. Each chapter should address a specific aspect of the problem your book is going to solve. In each chapter, break the specific aspect down into several parts. This will help your readers take in your information a bit at a time instead of overwhelming them with every bit of information clogging up the pages until they feel like they're about to go blind. It's not quite spoon-feeding the information to your readers, but it's close.

The next two steps are obvious. Write your book and then revise it. And then revise it again. And perhaps again. Of course, writing is extremely hard, and writing a book can seem like an impossible task. There are many books out there that give you guidelines to help you become familiar - and even love - the process of writing and revision. Find a number of books about writing. Better yet, find a number of books about writing the specific type of book you aspire to write. These can serve as roadmaps on your writing journey.

Once you've written your ebook and revised it at least twice, show it to someone else whose opinion you respect. If you're lucky enough to know a good editor, see if you have something to barter for him or her to go through your manuscript. Or join a writing group and let the other members critique your work.

Then take all these ideas from other people, and revise your manuscript one last time. And then stop! Put down that pen! Get your hands off the keyboard!

One of the most important steps to actually producing a book is to know when to stop writing and tinkering with it.

You've finally written your ebook! Pop open the bubbly! Give yourself a night out on the town!

Okay, now that this necessary celebration is out of your system, what do you do next?

How to turn your ebook into Profits

Ebooks are a revolutionary way to publish your book without incurring the costs of print production. All you need is a relevant and targeted subject and some inexpensive software, and you can transform your manuscript into a book.

The problem, in terms of actually seeing any profits from your ebook, is that the market is overwhelmed with ebooks, and many of them are not worth the time it takes to download them. Just because the ability exists to easily produce an ebook, doesn't make it good writing.

Make sure your book does not simply rehash old material. You will injure your credibility as an author by claiming to offer valuable new insights and disappointing your audience with material they've read a zillion times before. So spend enough time writing and revising your book to make sure it's of the highest quality and presents the most current information. A good book will eventually sell itself; false claims about your book will make it extremely difficult to sell any future books you may write.

Assuming you have determined that you do indeed have a quality product that answers some question or need of your target audience with NEW information, how do you know how much to charge for it? Rule number 1: Set a price for your book equal to its value. An under-priced book will only give the impression that your book isn't worth very much.

To figure out a fair price, estimate how much time you put into creating it and how difficult it was to transform the necessary information into understandable and engaging writing. Figure out how much your time and effort is worth, and then price it accordingly. The goal is for you to be adequately compensated for your talent, your time, and your effort.

Once you've figured out a price that is high enough to convey the value of the book, but not so high as to be out of the reach of your target audience's mean budget, then it's time to offer it for sale on your website. To attract sales, you will need to develop a promotional campaign, particularly if you are an unknown author.

There are multitudes of books about self-promotion that will guide you in your efforts. Choose a plan that is both creative and professional. Learn how to write a catchy yet informative press release, and send copies of your ebook to sites that specialize in ebook reviews.

Learn how to write powerful sales copy, or hire someone to write it for you. This is an essential. You absolutely need excellent sales copy to sell your book. Make sure the copy includes all the reasons your target audience needs your book, and the benefits they will derive from buying it.

Use graphics in your promotional materials. Beautiful graphics have the power to instantly convey the quality and value of your ebook. Graphics can also convey the amount of valuable information the book contains, and your careful attention to detail. Professional graphics sell professional books. They reassure the customer that the product is what it claims to be.

Consider excerpting chapters for articles. You can offer these tidbits for free on your website as a sort of demo of your book. Include an order form for your ebook at the end of the excerpted articles.

Finally, when you set-up your download link, make sure to simplify the process. It's a good idea to offer a few bonuses that make your book even more enticing to purchase, but make sure the bonuses are valuable and high quality. Too many bonuses that are basically a load of useless stuff will compromise the impression your audience has of your ebook. The goal is to convey to your audience that they are getting a quality product for a good deal. That means applying restraint, especially when it comes to adding bonus items. Too much free stuff offered diminishes your credibility.

Make sure your book is a quality product. Make sure it is relevant and current. Develop an effective marketing plan that includes excellent sales copy and excerpted articles. Then offer your book for sale, and wait for your audience to discover you!



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