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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

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

Crafting a Career: How to Become a Professional Author with Angela Hunt

By Thomas Umstattd, Jr.on June 11, 2024
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If you want to make writing a career and pay bills with income earned from your writing, you want to be a professional author. Find out how.

Read moreCrafting a Career: How to Become a Professional Author with Angela Hunt
Category: Book Business, Christian Publishing ShowTag: Book Business, Career, Money

R Is for Reserve Against Returns

By Steve Laubeon November 6, 2023
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Every traditionally published author needs to understand the principle of “Reserves Against Returns,” which is an integral part of publishing economics. It can reduce the amount of money an author receives in their royalty statement. It is usually a shock and elicits a phone call to their agent crying, “What happened to my money?” Did you realize that book publishing is the …

Read moreR Is for Reserve Against Returns
Category: Book Business, Publishing A-ZTag: Book Business, Contracts, Get Published, Money, Traditional Publishing

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 …

Read moreLet’s Talk About Money
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 …

Read moreAuthor Accounting 101
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 …

Read moreMoney Problems?
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 …

Read moreThe Myth of the Unearned Advance
Category: Book Business, Career, Money, Writing CraftTag: Agents, Book Business, Contracts, Get Published, Money, Traditional Publishing

When the Gloves Come Off

By Steve Laubeon August 17, 2020
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Fist Slams Table in Anger

The publishing experience is rarely done in isolation. This means working with other people. And if their performances or efforts do not meet your expectations, conflict can occur. Over the years I’ve seen more conflict than you can imagine–of all types and variety. But the majority of issues boil down to four areas: Editorial Production (cover design?) Marketing and publicity Getting …

Read moreWhen the Gloves Come Off
Category: Book Business, Career, Communication, EditingTag: Career, Communication, Editing, Money

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

How Do You Measure Success?

By Steve Laubeon December 9, 2019
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by Steve Laube

A few years ago while talking to some editors they described an author who was never satisfied (not revealing the name of course). It this author's latest book had sold 50,000 copies the author wondered why the publisher didn't sell 60,000. And if it sold 60,000 why didn't it sell 75,000? The author was constantly pushing for "more" and was incapable of celebrating any measure of …

Read moreHow Do You Measure Success?
Category: Book Business, Career, TrendsTag: Book Business, Career, Money, Success
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