If an author has talent and skill enough to write a very good novel, what are the odds it would ever create good income?

If you want to create a good income after having written your novel, what are the odds of that happening?

A)1 in 10
B)1 in 100
C)1 in 1000
D)1 in 10,000.

This is an excellent question submitted by one of our web visitors.

Before I reveal the answer, I'd like to add more depth to the question. Writing a novel and finishing it is a major accomplishment; something that many people say they'd like to do, but never follow through. That's where a writing mentor or coach can keep you on task.

After your novel has been written, that's when the critical work begins: finding a publisher or agent, choosing to self-publish, or having your books printed and distributing them yourself. Regardless of how you publish your book, it's the marketing phase that determines the book's success—in most cases.

Let's run through a typical scenario. You've written a novel. You've submitted it to a manuscript review authority who gives you important feedback for improving your story, your plot, character dialogue, structure, and grammar. You implement the suggested changes without altering the story's focus. All well and good. You've taken the necessary steps to make sure your book has the best *edge* possible.

Next, your book is published and available at ten thousand online bookstores. You sit and wait, rubbing your hot palms together anticipating all the sales and royalties that you'll make...but then nothing happens.

It's at that point that you just might give up. My question: if you were sitting in that position, would you give up? Leave your comments below.

The next critical element in establishing the odds of making good money with your novel is steeped in answering the question...what's "good money?" Naturally, the answer means generating revenues that you're happy with and brings you a residual income. But more than that, making money on that book you've written usually determines if an author will write another book or quit writing.

Don't let that happen to you! If you have a passion for writing, then write one book, get it published, market it, and at the same time begin outlining your next book.

Without tossing too many names out there, one female author wrote ELEVEN novels, and had them all rejected by publishers until someone saw the potential in her storytelling. The novel was purchased, sold millions, and then the stories were adapted into screenplays, and products were created to promote the movies. Do you know who the author was? Answer: J.K. Rowling and the Harry Potter series.

Okay, here's my answer for the odds: Choice C. Since I work with many mainstream publishers and provide editing services and manuscript reviews, I would say that one book out of every thousand books has an opportunity of making good money. Remember, however, if you choose to ride the wave of sending query letters to mainstream publishers and agents, the book advances are small, and the royalty rates average between 5 percent to 9 percent for first-time authors.

Share your experiences and thoughts on this topic. There's a world of authors out there waiting for your comments.

Thanks,
Candace

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