The Field Mouse's Guide to Publishing
(Nibbling small bites of a big world)
Publishing is mysterious. If you feel like a tiny mouse in a huge field, this guide is for you. Click a mouse to learn more!
What's an advance?
The money a publisher pays you for the rights to publish your book. How much will I get paid? Depends! Your advance is a guess your publisher makes about how much your book will earn, calculated via their own wizardry and algorithms. Your agent can ask for more money while negotiating your contract, but ultimately, the offer will be what it'll be. Do I get paid all the money at once? Nope. Typically, it's broken into thirds. You'll get a payment each time you hit a benchmark - once when you sign the publishing contract, again when you turn in the completed manuscript, again when the book comes out. That might be lot of money to manage. Yep, especially if you aren't used to getting money in chunks. Remember, though - this isn't a salary. Your next advance could be much smaller, and publishing can be unpredictable. Getting a big advance this time only means you got a big advance this time - it isn't a prediction of what'll happen next. Before you quit your day job and buy a yacht for your grandma, do some careful financial planning, and always assume that something unexpected will happen. Is an advance different from royalties? Yep. Royalties are proceeds from sales of your book. You only get royalties once the sales of your book have earned out your advance. What's it mean to earn out your advance? It means the sales of your book have paid the publisher back for their investment in you. Until you've earned out your advance, you don't get any further money from the proceeds of your book. So if a book is $10 at the bookstore, do I get that much in royalties? Nope. You and your agent get a percentage of that, as outlined in your contract. I didn't get a big advance. Am I a failure? This is the rough part about turning storytelling into a business. Try to remember that your advance is not a critique on your worth as a person, or as a writer. And hey, you know you didn't get into this for the money. You've crossed innumerable hurdles to reach this point. Hold on to the spark that led you here. That's what matters. What if I don't earn out my advance? You're probably okay. It's pretty common. Publishers know an advance is a guess, and that you're unlikely to earn it out. As long as your books sold decently well, the publisher will call that a win. Okay but what if my book sold terribly? First, I'm so sorry. You worked so hard, and it's not fair. Streaks of bad luck can happen to anyone. If you're under contract with the same publisher, this might mean they offer you less for your next book, and so on. Or, it might not matter too much. You can strategize with your agent here. Maybe you just see how the next book does. Maybe you change course and submit to new publishers. Maybe you change genres or pennames for a while. Better luck next time, friend. So which is better, a small advance or a big one? I cannot look you in the eye and tell you that a six-figure deal is a bad thing. Go buy yourself something fancy and bask in the envy of King Midas. But seriously - it just depends on your situation. If you need the more reliable income of royalties rolling in, consider a smaller advance. If a giant windfall will change your life for the better, go for it! Just remember that a big advance is harder to earn out, and doesn't guarantee big advances for the rest of your career. Talk about all this with your agent when deciding what offer to accept. How am I paid? The publisher sends the check to your agent, who takes their percentage and then sends the rest to you. Also: Congratulations, you got paid for writing!! Go you!!
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AuthorI'm Ashleigh. I write stories and plays about impossible things happening to strange people. Archives
December 2020
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