The Economics of Being an Author

A while ago I saw a post where readers were complaining about the slow process of some authors releasing new books and how they had no patience for that and it was a deal breaker for them. One commenter agreed, but basically wrote he/she could cut the authors some slack if they were in struggling financially with maintaining work and writing. Top marks for that individual.

The JK Rowlings of this world are a fairy tale ending that doesn’t happen for the majority of writers. Most of us must have other employment to earn a living. 

Here’s a little lesson in the economics of being an author. 

Something you’ll hopefully think about when you read your next indie novel.

Each time I put out a new book the costs are as follows:

• Editing: AU$2500 approx (You get what you pay for and a good editor is worth every penny of this.)
• Cover Art: AU$600 approx (Good cover art is essential)
• Maps:  $EU300-400 (If you’re lucky these will do a whole series)
• Website: AU$170 (a necessity)
• MailerLite: AU$170 (to host email lists for newsletters)

Marketing my work:

• Sites such as StoryOrigin or BookFunnel (how you get your free samples and books) so we can promote our work AU$150-170 approx per year each. (This is how authors share those free samples you love.)
• Attending pop-culture conventions to sell your work: AU$300-400, plus accom and airfare.

The most I have earned in royalties for novel was when Altaica first came out and it was around $270 for the year.  

Traditional vs self-publishing

You may argue that if you are with a publisher then you don’t face these costs – true it will get rid of some ie editing and cover art, but you still get the rest.

Even if you are with a publisher, author’s are expected to self-promote, have a website, social media and the pressure is on to churn out material, have newsletters, mailing lists etc. It’s a whole merry-go-round that gets you focussed on the money rather than the craft and actually enjoying writing.

Add to this that many of us rely on our partners to help cover these costs while managing mortgages and all the other costs of living – hello guilt.

When you compare what you spend and what you earn, well… then from a money point of view it’s a no brainer.

If this was any other business you’d stop. 

At this point you’re either putting on blinkers and ploughing ahead on in hope that it will all pay off in the end, or you’re gutted at the state of play.

This is why so many writers quit after a few years.

I don’t want to quit, but I do want to stop focussing on the $$. I’d like to remember this was fun.

So some changes are in order. 

I’ll be drastically reducing costs where I can. My newsletter subscribers will be shifted over to this website and you’ll only get updates when I review a novel or post about new books.  

I’m going to learn how to have fun with writing again.

Thanks for sticking around.

Cheers,

Tracy