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Helping to Change the World…Word by Word

The Steve Laube Agency

The Steve Laube Agency

Helping to Change the World Word by Word

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Home » Money

Money

Define Success

By Steve Laubeon July 15, 2024
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Success.

It is a word that has a “sweet smell” for some and is the “gold ring” of achievement for others.

But in order to appreciate success, we must first define it. And there is the rub. Each one of us defines success differently, especially writers.

Here are some definitions I’ve heard or seen:

  • Getting an agent
  • My first book contract
  • Selling 20,000 copies of my book
  • Selling any copies of my book
  • Producing my own book as an indie author
  • Getting my second book contract
  • Making the bestseller list (which bestseller list?)
  • Earning enough money over expenses with writing that I owe income tax!

That list illustrates a bit of the diversity of the definition. I’ve had an author say their book was quite successful when describing one of their previous works. When I asked for specifics, they enthusiastically said, “I sold 800 copies!” I’ve had an author also say, “My book didn’t do very well; it only sold 20,000 copies.”

I remember one man calling me asking about our agency’s services. “Do you like making lots of money?” I stammered a nonanswer and replied, “Why do you ask?” “Because I won’t accept anything less than a $100,000 advance for my book, so if you can’t get that amount, I don’t want you representing it.” Needless to say, I admitted my defeat, and we ended the call. His definition of success was unrealistic. (His book was also completely unsellable in the commercial market.)

I have been told that success, as I’m describing above, is actually a series of achievements or goals. Granted. That is one way to view it. But I have to ask, “What happens if you don’t achieve your goals?” or conversely, “What happens if you do achieve your goals?”

Defining Success

Take a moment and think about success and what it means to you. At the same time, remember that your definition is not necessarily pertinent to the next person. This can be a problem when dispensing advice to others because they can use your definition as their own when it doesn’t fit their situation.

1. Make sure you have your values set first. Otherwise, wild success could destroy you (Proverbs 16:18).

2. Also define “contentment.” Or another way to put it is to define “good enough” (1 Timothy 6:6).

3. “More” is not a goal. This is a red flag for any measurable activity. Think of businesses that care more about profit than people. Or churches that lose their way in an attempt to “grow numbers.”

4. Be very careful about using money or unit sales as your measure. (See #3 above.) I’ve seen many writers’ entire attitudes toward this business change when money began to flow their way. And I’ve seen many writers lose all contentment when their unit book sales deviate from the norm. But I have also seen many writers who have handled success with grace and humility. Success does not have to destroy people!

Lately, I’ve been putting it this way:

Today, and I mean right now, define success for yourself as a writer. But remove publication from the definition. Now, define success. If publication is in the definition and it is achieved, you might take the credit. But if publication is a gift, not a goal, then it is God’s doing, not yours.

I believe that writing is obedience. Obedience to a calling. Thus, one writes because they “must.”

Sure, many writers write for a living, so the “must” is related to being paid. I don’t dispute that. I’m trying to make a different point.

Too many writers set unrealistic expectations for their work and suffer from feelings of failure. Often, they quit. And when that happens, the enemy wins.

I want you to be successful. All of us at the agency work hard to help you achieve that goal. Today, let’s take a moment to make sure your definition of that success is in line with your calling as a writer and to a set of reasonable expectations. It is there, in that place, where true success lies.

 

 

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Category: Book Business, Career, MoneyTag: Career, Money, Success

Let’s Talk About Money

By Steve Laubeon June 5, 2023
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Hope that headline got your attention! Those of us who work with authors find that an area of consistent turmoil is when money is the topic. A major challenge is teaching authors when to talk about money and when not to talk about money. Let’s explore some of these challenges. And first, let’s assume you already have a literary agent. When to Talk Money With Your Publisher/Editor Never. That is …

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Category: Book Business, Money, The Writing LifeTag: Book Business, Money

Author Accounting 101

By Steve Laubeon April 17, 2023
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You are a published author. You must be rich! You are an agent. I know you are rich. If it only were true. Let’s attempt to explain some of the bottom-line basics of Author Accounting. Please remember this exercise is generic; your mileage may vary. I will use some simplified numbers, so we can all follow the math. Let’s start with a $20.00 retail-priced book. The publisher sells the book …

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Category: Book Business, Career, Contracts, E-Books, Economics, MoneyTag: Author, Economics, Money

Money Problems?

By Steve Laubeon November 21, 2022
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Money is of significant importance to every one of us. Some writers live on the revenue generated by their efforts. We represent a number of clients who are the main breadwinners in their families. It is unfortunate that the role of the agent is regularly defined by the size of the deal. The film Jerry Maguire made the slick, money-centered agent into a cliche with his client shouting, “Show me …

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Category: Book Business, Money, PersonalTag: Money, thanksgiving

The Myth of the Unearned Advance

By Steve Laubeon September 12, 2022
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[I wrote much of this article back in 2011. Upon review, I stand by the analysis. I’ve left the past comments to accentuate the discussion.] ______________ A common myth permeating the industry is that a book is not profitable if the author’s advance does not earn out. I would like to attempt to dispel this myth. First, let’s define the term “advance.” When a book contract is created between …

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Category: Book Business, Career, Money, Writing CraftTag: Agents, Book Business, Contracts, Get Published, Money, Traditional Publishing

Don’t Quit Your Day Job

By Bob Hostetleron September 9, 2020
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Many years ago, when Hector was a pup (look it up), I made the fateful decision to start writing full-time. Sounds like a dream, no? Well, in some ways, it was. But several things made that transition possible. First, I had already enjoyed some success as an author, having published my first book and contracted (if I recall correctly, and that’s never a given) my next two books. Second, one day I …

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Category: Career, Money, The Writing Life

Authors Still Struggle to Make a Living

By Steve Laubeon March 2, 2020
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The above doomy headline is intended to catch your attention. However, it is merely a reflection of a report released on February 19 by the Authors Guild called “The Profession of Author in the 21st Century,” written by Christine Larson, Ph.D., an assistant professor of journalism at the University of Colorado. (You can read the full report here.) She wrote, “The days of authors supporting …

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Category: Career, Money, The Writing Life

Where Is My Money?

By Tamela Hancock Murrayon February 10, 2020
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Before I became a literary agent I had no idea how much energy this profession spent being a “collections agent.” Recently someone asked us the following questions (use the green button to the right to ask your question!):
What do you do, as an agent, when a publisher does not pay advances on royalties on time as per their legal contract?
What if a publisher is consistently late (months) saying …

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Category: Agency, Book Business, Contracts, MoneyTag: Agents, Money, Returns

What Are Average Book Sales?

By Steve Laubeon June 24, 2019
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A writer asked me, “What does the average book sell? An industry veteran at a writers conference recently said 5,000. What??? I know it all depends …. but … nowhere near 5,000, right?” My simple answer? It’s complicated. It depends. Average is a difficult thing to define. Each publishing company defines success differently. If a novel sells 5,000 copies at one publisher, …

Read moreWhat Are Average Book Sales?
Category: Book Business, Book Sales, Get Published, Money, The Publishing Life, The Writing LifeTag: Book Business, Book Sales, Get Published, Trends

Who Gets Paid in Publishing?

By Steve Laubeon March 18, 2019
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The economics of publishing is a bit of a mystery if you are just coming into the business. With all the talk about indie publishing vs. traditional publishing and the talk about how writers can get rich if they follow a certain plan, I got to thinking. Maybe we should do a quick look at the economics of publishing to see if anyone is making off like a bandit. Sorry for you non-numbers people, but …

Read moreWho Gets Paid in Publishing?
Category: Book Business, Get Published, Money, Writing CraftTag: Book Business, Contracts, Get Published, Money, Writing Craft
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