Tag Archives: Money

A Blog Post to Give Comfort in Rough Times, and a Few More Links

Kristine Kathryn Rusch has gone and written a blog post for all writers who are suffering through rough times right now due to the upheavals in publishing, “You Are Not Alone.” If you know a writer friend who is thinking of quitting writing or suffering from severe depression due to publishing industry changes, this essay is a must.

I also found out about a website that has various posts by pro writers (such as David Morrell) about the publishing industry.  It’s called Backspace – The Writer’s Place.

Another great resource is the NINC blog. Members of NINC have to be multi-published in order to join, so I find the information and blogs professional in tone and attitude.

Also, there’s Bob Mayer’s blog. He has 20 years of experience as a fiction writer in traditional publishing, and 2 years of experience doing indie publishing, so I find his posts have a lot of depth to them.

The Craving for Validation Can Really Screw Things Up

Writers–especially new writers–crave validation the way a cat craves catnip. I’ve seen the craving result in a few writers doing some incredibly destructive things from a business perspective. I myself did quite a few stupid things business-wise due to the validation crapola in my head until I learned from much more experienced writers that the crapola was there and that I needed to get rid of it.

Validation is NOT asking “Is this piece of writing any good?”  Validation is all about saying stuff like:

When thus-and-so happens, then will I be a REAL writer.

It’s the part about “then I will be a real writer” that messes writers up in the head. Badly.

Several wise old pros told me, “a real writer is someone who writes, day in and day out,” and I used to be inexperienced and stupid enough to scoff at that saying.  Surely there had to be more to being a “real” writer.

I don’t scoff anymore, because I’ve learned the hard way that there’s a core seed of truth to what those writers said.

A writer writes.

A painter paints.

A singer sings.

A coder codes.

Whenever someone quits doing the action (code, sing, write, etc.) that is the core of their dream, everything grinds to halt in a matter of time. Writers who stop writing will eventually become the topic of “What ever happened to so and so?” among readers.

Also, validation is NOT about setting goals.  It’s fine to have goals.

What I’m talking about here is having a mindset where a writer is totally dependent on a particular thing happening to feel like a “real” writer. This dependency results in neediness that can be manipulated by scammers, and a frantic urgency that results in bad business decisions that can postpone (or even wreck) the ability to make a living as a writer.

For quite a number of writers, “thus-and-so” is “published with a NYC publishing house.” The problem is the “When I am published by a NYC publishing house, then I will be real writer” mindset leads to a neediness that makes it hard for a writer to do the negotiating that needs to be done to get a decent contract.

Here’s something to think about.  These NYC publishing contracts are between a writer and a corporation.  We aren’t talking about two individuals working out a joint partnership here. Those people you meet from the corporation can be really really nice, but at the end of the day it’s the corporation the writer signs with. Editors and CEOs can be fired.

The craving for validation from corporations based in NYC can be used against a writer in contract negotiations. It’s just the nature of business–the writer’s book is a profit-and-loss statement for the corporation. If a writer wants to play doormat, that’s the writer’s problem as far as the corporate entity is concerned. Sometimes an editor will warn a writer if the writer acts too much like a pathetic wuss in negotiations, but for the most part the writer is on his or her own.

The other nasty part of this “NYC publishing house” requirement for being a “real” writer is that all the great middle-sized publishing companies get ignored because one is chasing after a narrow definition of being “real.”  There are some terrific small and middle-sized publishing houses out there, ones that are going to be big publishing houses 15 years from now.

Lastly, the whole mindset of  “when thus-and-so happens, then I’ll be a real writer” also makes it harder to keep morale up. Several old pros have pointed out to me that writing is disheartening enough as it is due to the rejection process; there’s no need to pile more anguish on by setting absurd goals for what is “real” as a writer.

A real writer writes, day in and day out.

Everything else is just a goal to aim for.

The Pricelessness of Time, and a Couple of Great Links

There are only 24 hours in a day. That’s it. Even those people who have a natural need for only 4-5 hours a sleep a night (or even none) can’t get around this time limitation.

Several swift deaths that have happened to people I cared about over the past three years have brought home to me just how priceless the time we are given is.  Once Death shows up for you, it’s over.  That’s it. We all like to assume we’re going to live into our eighties or later, but there’s no guarantee. And people love to assume that they’ll have lots of time to put their lives in order and do those things they always dreamed about.

Death can kill you in seconds. A stroke can strike you down where you stand and there won’t be time to say, “Goodbye,” or write a couple of poems before it is too late.

Never assume you can wait until retirement to do the things you dream about. People die before they reach retirement all the time. If your dream is to go to Paris before you die, start planning out tiny steps tonight that you take to work towards making that dream a reality sooner rather than later.

I think about time a lot, since I’m in the “squeeze” years. There’s work to do, a family to raise, a house with never-ending repairs to deal with, and writing to do. Several of my hobbies had to be put aside when I started to pursue writing in a serious way–there were only so many hours in a day.

Several months ago, I decided to turn off comments on my blog, because it was either do that or stop blogging all together. I didn’t know what impact it would have, but one of the surprising results was that now my blog thoughts sometimes dig deeper into things.  The time I used have to waste wading through spam in the queue instead gets spent thinking and writing the post instead.  There is only so much time each week I can devote to a blog, and I was actually surprised at how much a help it was time-wise to have comments off.

Zoe Winters did a post not too long ago about why she turned off comments on her blog, and brings up her reasons why a writer may want to do so.  Every writer is different–one writer’s healing potion is another writer’s poison. So each of us will have to experiment to see what works best.

In other news, I stumbled across a wonderful short essay by James Lee Burke on writing, “Seeking a Vision of Truth,” that can give consolation to writers in difficult times. I hadn’t known that his novel The Lost Get-Back Boogie received 110 rejections during nine years of submission.  I’ve provided the link to get to it on his website.

Also, musician Jonathan Coulton has done a long thoughtful essay on how he became a success as an indie musician. I think what he has to say also applies to becoming a success as a fiction writer (whether traditional, indie, or a traditional/indie combo).

So, I leave you all with the question, “When Death comes for you, is there anything you’re going to regret having not done? And if the answer is ‘Yes,’ what small steps can you take here and now to change that?”

It’s Not Indie VS. Traditional, It’s Indie AND Traditional

As fiction writers, we live in an exciting era right now due to the new distribution opportunities available through Kindle, PubIt, and Smashwords. But to hear some writers talk, it’s Indie vs. Traditional, and one has to choose sides.

Well, a lot of neo-pros and old (20+ years) pros I’ve been talking to are excited about being able to do both indie publishing and traditional publishing at the same time.  Having more revenue streams as a writer makes it easier to pay the bills each month. And as long as one is careful about reading and negotiating away any excessively broad non-compete clauses in a traditional publishing book contract, doing so should not be a big deal.

Short stories still need to go to traditional markets first if you want to sell them to a place like The New Yorker.  But if you write a novelette or novella that can’t find a traditional home, it is now possible to indie publish it instead of just letting it sit around unpublished. And once the exclusive time frame on a traditionally published story expires (and if you didn’t sign an all rights contract), you can republish it as an indie reprint to generate more income.

But one thing I want to emphasize is the importance of thinking twice before giving away a royalty cut to an e-packager for an indie story.  Dean Wesley Smith and J. A. Konrath and Barry Eisler debate the pros and cons at length in a post put up today.

We’re all in for a wild run over the next few years in publishing. Since I used to work in the software industry–which makes publishing look glacial by comparison–I confess I’ve welcomed the publishing technology breakthroughs that are bringing on a faster business pace.

The Borders Bankruptcy Number Crunching

C. E. Petit is crunching the numbers over at his website right now about the Borders bankruptcy and how it may impact publishers as creditors in the Chapter 11 proceedings.  Go read his posts from yesterday (Feb. 20) and today, great stuff.

This is a wise time to learn about the financial health of any publisher you have contracts for novels with that are still in print, or if you are planning to sign a contract in the near future with a publisher.

If the publisher is part of a publicly traded conglomerate on the stock exchange (and you know the name or ticker symbol) you can easily look at the SEC filings at 
http://www.sec.gov/edgar/searchedgar/webusers.htm
The quarterly (10-Q) and annual filing with the SEC is where the good stuff can be found, like how much cash they have on hand (Cash and Cash Reserves), cash flow, and their debts. You’ll want to take your time and read back as far as the database will allow you to get a good feel for what is going on in a particular company.

As for private publishing companies, if your library has access to Hoover’s (http://www.hoovers.com/), you might be able to get some info on their finances from there.

Also, another resource to turn to for help in doing financial research on a publishing company is your nearest Reference Librarian. Librarians are a wonderful resource for this sort of research.