We’ve all heard of the saying, “Risk versus Reward,” and for those in any business, that’s a guiding principle. Having always had limited means, I take fewer risks than most in marketing, since, by definition, risks don’t offer guarantees. I’ve had to overcome that to a degree, however, as most everything involved in promoting a book calls for risk, even of one’s time.
A few years ago, I participated in an author’s panel at an event. One of the topics that came up was the profit the majority of authors make. With less experience than the other three, I sat back and listened with eagerness, wondering if my lackluster earnings were a reflection of my work. To my relief, they responded with laughs and jokes, making it clear that my meager royalty checks were not the exception.
The general public mainly hears about the big-name authors who make millions per bestseller. Like with all industries, though, the top of that pyramid is very narrow. Underneath lie a plethora of contemporaries who will never see that kind of net worth. Granted, those results sometimes are a reflection of poor workmanship, but in many cases, it’s just surrounding circumstances. A small-town clothing shop won’t earn the same profit as a designer brand, simply because they won’t have the traffic and exposure. Still, they often have superior products.
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