Showing posts with label While We're at It. Show all posts
Showing posts with label While We're at It. Show all posts

26 March 2017

While We're at It

by R.T. Lawton

Most of us would agree that we're not in this for the money. We would prefer to say that we write because we love to write, or to have written (not quite the same thing), or to have an outlet for our creativity, or to entertain others. Take your pick. At various times I have fallen into each of the four categories. You may even have another reason, one which is all your own. Regardless of why we write, money still becomes a factor of some consideration. In which case, it's a good thing I have a nice pension to live on. Thus, when I hit the streets for research, I don't have to live there and spend the night huddled in the doorway of some downtown business.

Jan/Feb 2017 issue contains
the 9th story in my
Holiday Burglars series
Okay, I'll admit I'm a slow writer, plus I probably don't spend as much time at it as I should. But, I've also been told by fellow authors who write novels for small, but well-known publishing houses, that I probably make more money from just two short stories sold to Alfred Hitchcock Mystery Magazine in any one year than they make from their one novel's advance, plus royalties (if it earns out) in that same year. Many of these novelists end up spending their advance for marketing and publicity (because their publishing houses don't do it for them), hoping  to make up their net profit  later on their second or third published novel. Unfortunately, the Death Spiral often kicks in and it's time to start writing under a different name because publishers know the statistics for an author's name.

For those of you who haven't heard of the Death Spiral, it works like this. Say you got a print run of a thousand books and you had a sell through rate of 80%. Sounds like a high rate, but for the second novel, as it's been explained to me, the publisher looks at the figures and decides to do a second novel print run at 800 books. After all, that's what the first novel sold. If that second novel gets a sell through rate of 80%, then the third novel gets a print run of 640 books. At an 80% sell through rate, there won't be a fourth book.

Me, I don't write novels, except for that one completed novel still in the desk drawer where it truly belongs. Too much time invested for a potential rejection, whereas if one of my short stories gets rejected, well, it's merely less than 6% (on average) of the words invested in a novel. I can write 3-10 short stories a year (hey, I'm not as prolific as John Floyd), which is still less than the number of words I'd need for that one novel a year like the publishing industry wants. The problem with my situation is there are only about four top paying mystery markets out there for short stories. If I were to become really ambitious, I'd have to branch out into the sci-fi short story market.

For the basis of this argument, here are the numbers, strictly for my AHMM market.

36 Accepted   15 Rejected*   70.6% Acceptance Rate   $15,516 Money Earned for just those stories, plus $750 for reprint rights on 8 of those AHMM stories  $16,266 Total for only AHMM stories (I'm not getting rich, so you know I'm not bragging.)
          * Most rejections were early attempts as I learned my way in, but yep, I still get rejections.

Many of the small publishing houses only pay about a $500 advance for a novel, whereas I've been making about $900 average for two AHMM stories in any given year out of which I have to spend no money for marketing or publicity. Those 36 short stories I sold to AHMM totaled to about 190K words, which for me would make about three short novels over a several year period.

MY Conclusion: For time spent, money received and interest of mind, Guess I'll stick to short stories for as long as my market lasts, even though there is less prestige in them than in being known as a published novelist. And, if I did spend the time needed to write a novel, it would have to be good enough to sell to one of the big houses, with a much, much better advance than $500 (which incidentally is the payment for one 700 word mini-mystery for Woman's World magazine), else it's not worth the effort for me. No offense meant to anyone out there, because I'm talking about me and how I think about my situation. Plus, I couldn't write a novel a year.

So, that's my story. Everybody wants something different, has different circumstances and/or sees the business in a different way. What's your take on the money side of the business we're in?

Personally, I hope you're one of those novelists getting great advances, high figure print runs and  excellent sell through rates. And, if you operate as an e-book author, I hope you have a great marketing platform that's working for you. Find whatever edge you can get.

Best wishes to you all.