Chris discusses a point at our May meeting.

Chris Simmelink. talked about the Business of Writing.
He said there are two sides of the writer’s life. Madison Avenue shows us the writer at a desk, making millions from the writing. The other side, the business side, is rarely mentioned.
Here are some key tips:
1. You Query Letter is a key. Most publishers and agents don’t want unsolicited manuscripts so the query letter is a way to make your solicited. It should contain: What your story is about; technical details such as genre and length; your credentials; and a hook to capture the reader. One page should be the maximum length as they don’t have time to read more. Agents and publishers receiver 10,000 queries a year so make yours stand out.
2. Agents should be members of the Association of Authors. They will charge 15% for US sales and 20% overseas. There should be no other fees such as reading fees etc. Online searches can provide the info you need about the agent such as recent sales, genres, publishers worked with etc. If they are not willing to share this information, then you won’t be comfortable with them.
3. Contracts and rights are important. You want to retain as many rights as possible for later resale and only give the rights needed for the current project, whether that be an article or book. Some of the rights are 1st North American Serial rights (magazines), anthology rights, electronic rights, subsidiary (paperback, movies), archival. It’s best to keep most and give these out as paid for them. George Lucas sold the movie rights to Star Wars but kept the character rights by foregoing a small payment but now has made millions from licensing the characters.
4. Numbers and publishers. Publishers will print about twice as many books as they anticipate selling. The author’s money is held against returns from stores. Even advances are paid out piecemeal as stages from editing to publishing take place. Most selling activities and many of the expenses are done by the authors. Book signings, publicity and other activities should be part of the author’s marketing plan that the publisher will want to see. You will need to use email, family members, phone calls to get the word out on your book. Publishers won’t spend money on these activities unless you are one of a few big names. 90% of books don’t make a profit. Money issues with publishers should be negotiated by your agent.
5. Marketing. You need a marketing package consisting of the Query letters, outlines, synopses of varying lengths, you marketing plan – who is your target audience and how you will reach them. Also needed are good photos, letterhead and stationary, reviews, credits, who you competition is and why your work is better and different. Name of contacts who will help you. You also need goals, strategies and tactics and a concise and consistent message about yourself and your work. You are always selling yourself and your next work. These tasks are not easy for the writer who sits in a room and writes but to make money as a writer, promotion is important. All these activities are part of professionalism and presenting yourself as a professional.