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The Steve Laube Agency

The Steve Laube Agency

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Home » Money » Page 3

Money

What is Your Writing Worth?

By Dan Balowon February 7, 2017
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The entire book publishing industry, both traditional and self-published, is dependent upon creating books other people will pay money for in sufficient number to make it worthwhile.

Just about everything discussed on this agency blog is intended for people involved in revenue-generating publishing. Most authors can write something and give it away for free. Fewer can write something, which others will value enough to pay for and read.

Like many things in life, if it were easy, anyone could do it.

A word in common use today is “sustainable.” Depending on how it is applied, sustainable actions can relate to just about everything in life.  It’s another way to describe a long-term approach versus a short-term one.

Sustainable businesses are those who practice corporate culture allowing it to operate profitably and long-term with well-treated employees.

A sustainable farm is one where farming practices do not damage the ecosystem, but support it in a healthy way, allowing the farm to operate long into the future.

A sustainable forest is where at least as many trees are planted as are harvested.

You get the idea.

The traditional publishing industry is sustainable because authors write something which can be sold. The self-publishing industry is financially sustainable because there are a lot of authors willing to shoulder the commitment, financial burden, work and accompanying risk to publish their own books.

At the end of the day, both traditional and self-published books need to financially justify themselves in order to be sustainable.

“Free” should be carefully utilized, even in self-publishing. If you want to guarantee something is regarded with little value, give it away for free.

What is your writing worth? (“Free” is not a value.)

When an agent or publisher reviews a proposal, we ask ourselves if people would pay for it. If so, how much money do we believe people would be willing to pay and would it be enough to justify the risk of publishing?

The answers to those questions are what make up a publishing decision.

So, again, what is your writing worth?

For commercial writing to the retail consumer (as opposed to professional publications or textbooks), here are some suggestions to build value into your work: (most relate to writers of non-fiction)

  • Build value in the concepts and content of the book by talking about it and presenting it in person before you begin to write and throughout the entire writing process. Authors need to be “public presenters” to an audience. The book is never first. Present it first, then write.
  • Look at other books where people have spent money on them. Successful books contain content valuable to readers. Think on what made a certain bestseller…sell.
  • Throughout the entire process of writing, think more about the eventual reader than yourself. Writers can become “heads down” in their work, which is a danger for anyone, losing sight of the consumer who might buy your work.
  • Become a bona fide expert in your field. Never, ever stop learning about the topic you are writing about. Second hand or old research is value-poison. Once you stop learning and put your head down, your work starts to become less valuable to the consumer. Value relates to your credentials as an author. No credentials, less value.
  • Don’t be so quick to give it away for free, unless you are doing so as a short-term promotion with the purpose of seeding the market for future sales. (I would rather not see any book given away for free when it first releases, unless it is limited quantity review copies for people who have committed to writing honest reviews.)

Finally, don’t confuse monetary value with intrinsic value. You don’t need to sell something in order to make it valuable, but if you want to earn a living from your writing, you need to view it from the consumer’s perspective and make sure what you write is worth someone’s hard-earned money.

 

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Category: Book Business, MoneyTag: Book Business, Money

Worth the Money?

By Tamela Hancock Murrayon August 25, 2016
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As a businesswoman, I have to decide what’s worth paying for and what isn’t. Anyone in business is barraged with opportunities to purchase software, gadgets, and all sorts of pretty office supplies in cool shapes in colors. High heeled shoe tape dispenser, anyone? Well, okay, no office supply store I know of is giving away tape dispensers so you have to buy those. But what about other options, …

Read moreWorth the Money?
Category: Career, MoneyTag: Career, Money, Technology

Let’s Talk about Money

By Tamela Hancock Murrayon June 16, 2016
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Imagine receiving this letter with your utility bill: Dear Family: Please see the attached statement asking for payment. We are so very sorry that we feel the need to ask you for payment. We know we have provided electricity and running water for you faithfully, and without interruption, all month. Judging from your usage, these are services you both need and want. As you are aware, Hestia, the …

Read moreLet’s Talk about Money
Category: Career, MoneyTag: Career, Money

Write from the Deep Places

By Karen Ballon September 16, 2015
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Far down, under the ground many of us walk on day in and day out, are roads and buildings and the remnants of long-ago lives and loves. Underground cities, they’re called. I’ve visited the one in Seattle. Peered down through the dark and dust and imagined people, horses, carriages…life. Under our feet. In the deep. I’ve been to other deep places, too, but these weren’t quick visits. Nor were they …

Read moreWrite from the Deep Places
Category: Book Business, Career, Communication, Craft, Creativity, Editing, Get Published, Inspiration, Marketing, Money, Platform, The Writing Life, Theology, Trends, Writing CraftTag: Encouragement, Inspiration, The Writing Life

More About the Family Christian Stores Bankruptcy

By Steve Laubeon February 23, 2015
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Last week we discussed the details of the Family Christian Stores (FCS) Chapter 11 bankruptcy filing. Since then I have spoken to numerous publishers and both industry and outside experts. Much new information has surfaced. What I’m writing here is based on those conversations and on a number of public news reports. Who is Going to Get Paid? FCS owes more than $40 million in unpaid …

Read moreMore About the Family Christian Stores Bankruptcy
Category: Book Business, MoneyTag: bankruptcy, family christian stores

Success! Are You Ready?

By Tamela Hancock Murrayon April 24, 2014
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Recently one of our faithful readers asked, since there are so many blogs about handling failure, if I would write a blog on how to handle success. Here are a few of my thoughts, in no particular order: Once you are successful, prepare to… …be gracious. Whether you struggled for years to be published or if you’ve never heard the word “no” from an agent or editor, when …

Read moreSuccess! Are You Ready?
Category: Book Business, Career, Money, Platform, Tamela, Writing CraftTag: Career, Success

A Major Money Mistake

By Tamela Hancock Murrayon January 16, 2014
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When I was working for a small company years ago, the extremely reliable woman who cut our paychecks missed the Big Day -- a Friday. As it became evident she would be a no-show, one of my co-workers revealed she was upset. "I wrote out and mailed checks for all my bills last night because I thought I was going to get paid today. Now they'll all bounce."

I didn't understand why anyone would …

Read moreA Major Money Mistake
Category: Book Business, Career, Money, TamelaTag: Book Business, Money

Two Basic Tips on Budgeting with an Irregular Income

By Tamela Hancock Murrayon January 9, 2014
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One challenge of writing books for a living is the fact that unlike many other jobs, you don't usually see a cycle of paychecks appearing at regular intervals with predictable amounts. Instead, you may see a whoosh of money, followed by smaller amounts every few months triggered by actions on your part, such as turning in manuscripts and proposals. Only well-established authors will have this …

Read moreTwo Basic Tips on Budgeting with an Irregular Income
Category: Book Business, Career, Money, TamelaTag: Book Business, Budget; Finances; income, Money

Why Is My Royalty Check So Small?

By Tamela Hancock Murrayon December 6, 2012
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This is it! You’ve had a book published, and your advance money is long gone. But your publisher has promised a royalty check and you know exactly when that check is supposed to arrive. You run to the mail box every day for two weeks until finally, Voilá! The check is here! You rip open the envelope to see a grand total of: $28.52? What???!!! How can this be? So much for the big screen TV. …

Read moreWhy Is My Royalty Check So Small?
Category: Book Business, Contracts, Money, TamelaTag: Book Business, Money, royalties

I Thought I Was Rich!

By Tamela Hancock Murrayon November 15, 2012
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Recently I received a check in the mail. I opened the envelope, and discovered the amount that was larger than I anticipated. "This is great!" I thought. "Now I have a little extra to shore up my savings."

I reached for another envelope in the stack of mail. It was from the insurance company. Upon opening, I discovered that, after I deducted income taxes, the premium consumed the entire amount …

Read moreI Thought I Was Rich!
Category: Book Business, Money, TamelaTag: Money
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