How to Become a Bestselling Author
by Mary Kole | Former literary agent, now a freelance editor, writing teacher, and IP/story developer for major publishers and creators.
Dreaming of becoming a bestselling author? Unfortunately, your odds are slim (unless you want to become a bestselling author in a niche category, and even then, you’ll have a lot of competition). Even if you're lucky enough to snag a book deal, the odds of quitting your day job on the back of your book are practically nonexistent. Your writing reality check: only 3-5% of published authors are able to focus solely on writing for a living. Want to know the real way to become a bestselling author? Read on.
The Reality Behind the Bestselling Author Fantasy
It’s rare for a debut author to become so successful with their first book sale that they are able to quit their day jobs. Some notable significant and major deal debuts in the young adult and adult spaces have gotten eye-watering dollar amounts for their work. (Adult and YA money tends to be bigger than advances in other categories like MG, chapter books, early readers, or picture books, and if a sale is large enough, it can make all the difference.)
Nonetheless, I would advise caution before deciding to give up steady employment in pursuit of your dream of becoming a bestselling author, especially if you don’t have a blockbuster book deal yet. (Quitting after a book deal is a bad idea. Quitting before a book deal is a VERY bad idea, unless you have inherited wealth to float you.)
Many writers find that they can make a living and build a writing career—it just doesn't always come from publishing books. Rather than trying to become a bestselling author on one or two sales to publishers, they work hard on other forms of writing, such as teaching workshops, teaching at a university, freelancing for magazines, writing non-fiction, copywriting, editing, and tutoring. There are a multitude of ways to make use of your writing abilities, especially since book deals can be few and far between. (There have been some arguments lately about whether or not AI will take over writing, and this remains to be seen.)
Nowadays, it's common to witness individuals in the publishing realm with a "hand in many pots,” building multiple income streams. This isn't exclusive to writers and illustrators, either. It's not unheard of to find agents who moonlight as freelance editors and editors offering classes as a side gig. And it's not a bad thing, either: having more than one income stream mitigates the risk of your main cash flow vanishing.
Even if You Become a Bestselling Author …
Although not everyone has the aptitude to both freelance and juggle multiple tasks, many writers have opted for the balanced approach of maintaining a regular desk job with a reliable income and health insurance while publishing their work. You’ll notice that the reality is that authors—even someone who was on a list for a few weeks and has earned the distinction of calling themselves a “bestselling author”—aren’t living off of one or two book deals alone.
It's important to remember that, even after you make your initial deal, your editor and agent may take months to negotiate the details of your contract, followed by more months for the contracts department to draw it up, and even more time for your signing check to be processed by accounting. Publishers also pay out in four to six installments, sometimes taking a few years to get you your entire advance. Then there are taxes to consider. So, having realistic expectations is key when it comes to becoming a bestselling author!
On the plus side, the snail’s pace at which the publishing industry works gives you enough time to make up with your soon-to-be-former-but-soon-to-be-again employer after you make the rash decision to quit. Even if you become the kind of bestselling author who doesn’t need to work a day job, you may want to think about staying involved in the world instead of retreating completely into your imagination. If you’re a bestselling author, you are always casting around for your next idea. That idea might not come immediately. And you’ll probably still need health insurance.
My advice is always to have a steady source of income, even if you're selling your work for big advances or making royalties. It pays to be cautiously optimistic in life. If you find yourself stuck in a job you loathe, then it's time to explore other options for work. Having a job might not be the problem—it might be the exact day job that you have that’s the issue. Look around and be conservative on your journey to becoming a bestselling author.
After all, you never know when you might need a reliable source of income, and publishing (in most cases) ain’t it.
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