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The Steve Laube Agency

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The Steve Laube Agency

The Steve Laube Agency

Helping to Change the World Word by Word

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Home » Money

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 the money!” Don’t get me wrong; I firmly believe the “labourer is worthy of his hire” (Luke 10:7, KJV). You and I earn our wages. There is no entitlement or handout. If I represent a weak project, it won’t sell; and I won’t be paid. If you write a weak project, it won’t sell either.

The problem comes when money, usually a lack thereof, becomes a distraction. I remember talking to an author years ago who would live off advances and royalty checks as if they were a weekly salary. Once the bank was empty, the author would go to the publisher and beg to borrow against future earnings. This yo-yo financial state created enormous pressure on the ability of that writer to create new material.

While that is an extreme example, it is illustrative of the dangers of mismanaging money. But what about those who are driven by the need for bigger deals or even a new deal, citing money as the catalyst of their anxiety?

I came across a convicting list titled “Signs That I Love Money” from Alistair Begg in his message “Restructuring Our Finances.”

Signs that I love money:
(1) When money thoughts consume my day
(2) When the blessings of others make me jealous
(3) When success is defined by what I have vs. what I am in Jesus Christ
(4) When my family is neglected in my pursuit of money
(5) When I close my eyes to the genuine needs of others
(6) When I live in paralyzing fear of losing my money
(7) When I am prepared to borrow myself into bondage
(8) When I give to God my leftovers, rather than my first-fruits

Ouch. I wish I had not read that, for I am guilty. Instead, I should endeavor to turn that around and redeem the problem by being thankful. And what a perfect week to be thinking about that.

As we move into the season of Thanksgiving, let us give thanks. Thanks for the provisions we do enjoy. For the roof over our heads and the food on our plates. For the freedoms we enjoy and our Lord who will provide (Jehovah Jireh).

In October 1863, in the midst of a horrific Civil War and only a few months after the Battle of Gettysburg, Abraham Lincoln proclaimed these words:

We have been the recipients of the choicest bounties of heaven; we have been preserved these many years in peace and prosperity; we have grown in numbers, wealth and power as no other nation has ever grown. But we have forgotten God. We have forgotten the gracious hand which preserved us in peace and multiplied and enriched and strengthened us, and we have vainly imagined, in the deceitfulness of our hearts, that all these blessings were produced by some superior wisdom and virtue of our own. Intoxicated with unbroken success, we have become too self-sufficient to feel the necessity of redeeming and preserving grace, too proud to pray to the God that made us.

It has seemed to me fit and proper that [the gifts of God] should be solemnly, reverently, and gratefully acknowledged with one heart and one voice by the whole American people. I do, therefore, invite my fellow citizens … to set apart and observe the last Thursday of November next as a day of thanksgiving and praise to our beneficent Father who dwelleth in the heavens.

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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 …

Read moreAuthors Still Struggle to Make a Living
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 …

Read moreWhere Is My Money?
Category: Agency, Book Business, Contracts, MoneyTag: Agents, Money, Returns

What Are Average Book Sales?

By Steve Laubeon June 24, 2019
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by Steve Laube

We recently received the following question:
"What does the average book sell today? An industry veteran at a writers conference recently said 5,000. What??? I know it all depends....but ... nowhere near 5K, right?"
My simple answer?
It’s complicated.
It depends.
HAH!

Average is a difficult thing to define. And each house defines success differently. If a novel sells …

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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With all the talk about Independent 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 it is critical to understand the infrastructure (i.e. the lifeblood) that keeps your …

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

Should I Write for Free?

By Bob Hostetleron February 27, 2019
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Writers write, right? Often, however, writers are invited, asked, pressured, or even hornswaggled (look it up if you have to) into writing for free. Sometimes that’s good. Often it’s bad. How can you know which is which? One word: strategy. What is your strategy? Do you even have one? Or, put another way, do you have a mission statement as a writer? When you define where you’re going and what you …

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Category: Economics, Money, The Writing Life

How Authors Make Money

By Bob Hostetleron August 29, 2018
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So, you’ve written a book. Good for you. Now the money will start rolling in, right? Not exactly. There are a number of ways authors make money, but writing a book is only one step in a long and arduous journey. And, though the details vary widely from one author to another (and one book to another), there are six basic ways an author makes money. An advance When you sign a book contract, the …

Read moreHow Authors Make Money
Category: Book Business, Money, The Writing LifeTag: Career, Money, The Writing Life

Counting Cash – Fun Fridays – June 29, 2018

By Steve Laubeon June 29, 2018
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A video of authors counting the entirety of their annual income in cash. Just kidding! Actually a video showing 70 people from 70 different countries showing how they count money. Who knew?

Read moreCounting Cash – Fun Fridays – June 29, 2018
Category: Fun Fridays, Money
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