The day you get your first book deal feels much the same as getting accepted to a prestigious university, or landing a coveted internship after graduation. However, much like college and your first “real” job, you soon discover the hard work has only just begun.
Precious few authors are fortunate enough to quit their day jobs after landing their first book deal. Most are unable to avoid the need for side income to supplement writing revenue even after publishing multiple books.
If you're lucky enough to get a book advance, this week's guest on The Portfolio Life recommends treating it like an investment rather than income.
Listen in as author and speaker, Annie Downs, and I talk about why traditional vs non-traditional publishing is not a clear cut decision, and confront the stereotypical mindset of publishing a bound book versus exploring different mediums.
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Show highlights
In this episode, Annie and I discuss:
- The hyperbole of reactions when people find out you're a full-time writer
- Growing up with a love of books
- Who does hitting the New York Times bestsellers list really matter to
- Bridging the gap between getting started with nothing and touring as a speaker
- Honoring commitments and being faithful in small things and meet deadlines
- Why being scrappy is a competitive advantage
- The creative process as a partnership
- Why first drafts are awesome
- Applying for day jobs to make ends meet the week a book came out
- Modeling her company after Lady Antebellum
- Establishing a personal board of directors
- Thinking of your writing career as a business
- Feeling like quitting anytime something felt hard.
Quotes and takeaways
- “No is not about you, it's about clearing out the space for the right thing.” –Annie Downs
- We see rejection and failure as an obstacle and it can also be an opportunity.
- Take yourself out of the center of the story to understand the greater arc of what's being told.
- “It is not wise to treat a book deal or an advance like income. Treat it like an investment in your company.” –Annie Downs
- “The bigger your advance, the longer it takes to ever see money again.” –Annie Downs
- You may turn in the first draft, but it takes a lot of people to create the final version of the book.
[share-quote author=”Annie Downs” via=”JeffGoins”]If you're talking to the people in your tribe, other people are going to listen.
[share-quote author=”Annie Downs” via=”JeffGoins”]Hustle is seasonal.
Resources
- Melanie Shankle's Big Mama blog
- Sophie Hudson's Boo Mama blog
- Learning to Savor: Interview with Shauna Niequest
- The Best-selling Author with a Day Job: John Green
- Annie Downs on Twitter and her blog
- Podcast sponsor: Product Creation Masterclass by ConvertKit
What are you doing differently to try and get a book deal? How are you treating your writing like a business? Share in the comments
Click here to download a free PDF of the complete interview transcript.
