This post is for those authors who want to make money at their publishing someday whether that be via a traditional publisher or self-publishing. If your core interest is in getting your stories down on paper, then carry on.
But for those who want to make money at this somehow, there are some essential skills you’re going to need to have and it’s important to work on them alongside the writing.
First, you need to be resilient and adaptable. This industry, on both the self and trade publishing sides, changes constantly. Today there’s talk that maybe Amazon shifted how it treats borrows from KU for book ranking. (If so, it’s about frickin’ time IMO because someone borrowing a book for free is not and never has been the equivalent of them paying money for a book.)
Sometime earlier this week AMS randomly decided to add Ad Groups to ads which changed where you see your list of target keywords. That was after adding two new markets and then removing the links for those markets from one primary location and changing where billing and other items are found on the page.
A few weeks back a publisher with a decent reputation stepped in it when they took on an author who had been banned from publishing direct on Amazon. And just this week at least one big-name editor was abruptly let go, impacting every single one of their authors.
No matter what path you choose, things will constantly be shifting under your feet. You need to understand that and prepare for it and not be knocked out of commission when it happens.
Second, you need to understand business and numbers and contracts. In a group I’m in where some trade published authors post there was mention of how an author was screwed over by a basket accounting clause in their contract. If you’re going with a publisher and you don’t know what that is, you need to learn. That and all the rest of it.
A while back a publisher contacted me about potentially distributing some of my titles. Sounded great until they sent me a publishing contract that paid no advance and would’ve taken all my foreign language rights for free. If you as an author can’t see a situation like that for what it is and push back, you will get screwed.
And if you aren’t paying attention to profits and are only focused on number of units sold or nice reviews, you won’t last long-term.
I don’t expect authors to take things to the extent I do. (Yesterday I got bored and performed a multi-variate regression analysis to see which ad options I was using were actually driving sales and realized that two of them I was using and thought had been doing well for me weren’t.) But you do need to have some sort of a clue about how this industry works and what is happening with your own business.
Finally, you need perseverance. Sure, some authors hit it out of the park with their first book. And it’s all shiny happy times from that point forward. But not most authors. If you need an example, look at George RR Martin’s career. He left novel and short story writing for a while to work in television. He switched genres. This massive success he’s seeing now? Took decades to achieve. And required him to dust himself off more than once along the way.
I’m sure there are other traits authors need to succeed at writing that have nothing to do with the story or how it’s written (including a good bullshit detector), but these were the ones that were on my mind this morning. So there you have it. The writing is just what you need to play the game. You need far more than that to stay in and succeed.