Hi Donna. Great interview. I have a question for Wendy. Wendy, why would an established writer even want a book deal? What are the benefits? Thank you.
Hi Dyan, There are a lot of benefits to having a book deal. First of all, the advance can be nice. Mine have ranged from $7,000 to $10,000. The royalty checks are passive income (if you can sell enough books to make it past your advance, which is based on future books sales). Also, you can make a big chunk of money for foreign translation rights without any extra work. Our first agent sold German translation rights for $12,000. Having books can get you paying speaking gigs. Books can give you "expert" status to write columns for major magazines. And finally, you can buy books with your author discount and then sell them for retail and make a profit. I do this when I teach classes or do speaking gigs.
I look forward to this tomorrow, Donna.
ReplyDeleteThanks for stopping by on Pets and Their Authors yesterday.
Mayra
Hi Donna. Great interview. I have a question for Wendy. Wendy, why would an established writer even want a book deal? What are the benefits? Thank you.
ReplyDeleteHi Dyan,
ReplyDeleteThere are a lot of benefits to having a book deal. First of all, the advance can be nice. Mine have ranged from $7,000 to $10,000. The royalty checks are passive income (if you can sell enough books to make it past your advance, which is based on future books sales). Also, you can make a big chunk of money for foreign translation rights without any extra work. Our first agent sold German translation rights for $12,000. Having books can get you paying speaking gigs. Books can give you "expert" status to write columns for major magazines. And finally, you can buy books with your author discount and then sell them for retail and make a profit. I do this when I teach classes or do speaking gigs.