“Why I'd Turn Down a Six-Figure Book Advance! --An Expert's How to Write a Book Step-by-Step Guide”
Here's why you might want to turn down a huge advance, too!
by Steve Manning
People are always astonished when I tell them I'd never settle for a six-figure book advance, that I'd simply turn it down flat. But when I explain the math to them, it all starts to make sense. The strategy I use, and the one I'm about to tell you about, can make just about any advance, regardless of how big, one that simply isn't worth considering.
First… I want you to know that when I began showing people how to write their book quickly, I offered my manuscript to two high-powered non-fiction agents and both wanted to represent it. Both said it was worth quite a bit and both were thinking of an initial advance of about $15,000 perhaps more.
Now, as a writer yourself, you can imagine my glee. Just getting that kind of response right out of the box is pretty heady stuff. Hey, I'm on my way, right?
Well, ironically, around this time I had been doing a little self exploration: taking a look at what had gone right in my life and what had been less successful. And after a lot of thinking, I concluded that when I had made an instant decision about something, it usually wasn't the best for me in the long run. It might very well be just the opposite for you, but that's the way it was for me.
However, when I let the choices float around in my brain a while, let them mature and grow in my imagination, I could always get a much better view of long-term results.
Okay, should I grab an agreement with one of the agents, go for the sure thing of $15,000 (maybe more) or… what?
Well, I was just coming into my own as a professional speaker at the time and I had seen what product sales could be at the end of a really good presentation.
Should I forego the sure thing for the possibility of larger profits by selling my manuscript as a manual?
Time for a little unabashed, self promotion: If you haven’t asked for my Free CD, “How to Write a Book On Anything in 14 Days Guaranteed!” then you’re just plain nuts! It’s free, no charge, but you can bet this $100 CD will be carrying that price tag very shortly. How do you get it? Just email me at Free CD, Please, or CD_please@writeabooknow.com and make sure you include your name, your mailing address and your telephone number in the email. Now, back to the article…
After a lot of soul searching, I went with the latter. After all, if things didn't work on the platform, I could always mend some agent fences and get that elusive advance every writer wants so dearly.
The upshot? In the last five years or so, I've had product sales of more than $1-million, all stemming from that one manuscript.
This was the result of product sales during and after speeches I gave, then direct marketing efforts to specific markets, and then the wild and wooly ride of the internet.
All tolled, it was simply a no-brainer. By turning down an instant advance and taking the manuscript under my own wing, I was able to turn it into a profit centre that was far and away more lucrative than the straight forward publishing contract would have been.
True, I don't have the notoriety that comes from having my book in a bookstore environment, and everything that goes with that published author status. But I've got a book that has become a substantial business for me and I've had a lot more financial success with it than I ever would have if I'd let it go for just a nice advance and royalties.
Once you've got your manuscript, you really should take an unbiased look at your next step. What do you want to accomplish? Where do you want that manuscript to take you? And what path will take you there in the shortest amount of time for the effort you want to expend.
For many, that's the traditional route. Literary agent, standard publishing contract, bookstore involvement and so on. For others, it will be self publishing. For still others it may mean a more esoteric strategy for getting your message across and your results flowing. There's no right or wrong. What works well for one person will not give another the results they're looking for.
So if someone offered me a six figure advance for my next book, I'd give it serioius consideration. But if I'm on the same route as I am right now, I'd turn it down flat.
While we're on the topic of strategies, and if you haven't already done so, feel free to
subscribe to my FREE on-line course, "How To Write A Book On
Anything in 14 Days... or Less" it's packed with tips, techniques
and tactics for writing your book faster than you ever thought possible! But
ONLY if you're SERIOUS about writing a book NOW!
Wait a minute! You mean you still don't have your writing program, "How to Write A Book On Anything in 14 Days Or Less... Guaranteed!"? Well click How to Write A Book!
Time for a little unabashed, self promotion: If you haven’t asked for my Free CD, “How to Write a Book On Anything in 14 Days Guaranteed!” then you’re just plain nuts! It’s free, no charge, but you can bet this $100 CD will be carrying that price tag very shortly. How do you get it? Just email me at Free CD, Please, or CD_please@writeabooknow.com and make sure you include your name, your mailing address and your telephone number in the email.
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