We continue our e-book reading challenge with the writing/business guide, How to Survive and Thrive as a Literary Entrepreneur in a Down Economy by Dr. Maxine Thompson. We are also pleased to announce that starting later this month, she will be joining us as a regular columnist, so definitely stay tuned as she shares more articles of interest to writers and other literary professionals.
In How to Survive and Thrive as a Literary Entrepreneur in a Down Economy, Maxine covers how an author can:
- Find ways to make money as a writer
- Develop multiple streams of income
- Use the Internet and sell books
An excerpt of Chapter 1 is included below and she’ll be stopping in throughout the day to answer questions and share more tips from the book.
CHAPTER 1
Are you angry about the economy? I don’t know about you, but I get angry in this down economy. Why? Because it has a trickle-down effect on all small businesses. In my case, particularly as a literary service provider, some clients don’t
pay when they should because someone hasn’t paid them.
In the spring of 2008, gas hit over $4.00 a gallon here in Los Angeles so you had to make your next move your best move, and that includes going to much needed conferences (which included the Book Expo of America, The Leimert Park Book Fair and the Los Angeles Black Book Expo within the next month here in L. A.). Not to mention the high prices of food—well, that’s the subject of another column.
Just as the actors in Hollywood and the technicians have had to adjust since returning to work after their 2007 to early 2008 strike, we, as literary entrepreneurs, must adjust our marketing strategies. But, instead of getting angry, how about if we get busy? How about if our anger could move us to another level? A level of action.
Let’s look back in history. During the depression, women found ways to make it for their families by cooking, sewing, quilting, washing and ironing clothes for other families, etc. I grew up during a recession in the fifties, and I look back. How did my parents survive with six children? To supplement my construction worker father’s income, my mother did what we called “day work”—cleaning for white women. We often had filling meals of beans, soup, chili. We were seldom
sick—later I found out we didn’t even have health care, which is happening a lot today because of layoffs. So I know, with God’s help, we can make it through this economy. It is something our ancestors always did. Make a way out of no way.
In times like this we need to examine ourselves:
- 1) Find your strengths.
- 2) Find your core competencies.
- 3) Get around others who are strong where you are weak.
- 4) Build your teams.
- 5) Get people to fill in your gaps.
- 6) Find multiple streams of income from your book, such as speeches, workshops, seminars, teleseminars, webcasts, podcasts, blogs.
Ask yourself, what can I do to give people hope? Believe it or not, it starts with giving away what you have that has value. How can we be of value and how can we provide service to others? What do you have of value which you can give away? Can you build business relationships which are mutually beneficial to yourself as well as others? Can you teach what you learn as a literary entrepreneur? Can you provide sales, marketing on line, coaching, or seminars first
locally, then around the world? How can we get financial freedom? We must take consistent action every day in our business.
On one day a week, work on your business rather than in it. Have meetings to brainstorm with your team as to what your next steps will be. The words we communicate to ourselves and to others will pay dividends to you. It will help you and others solve a problem.
Right now, people are hungry for freedom. People want to get into sales and people want to write at least one book.
What are sales ingredients? First of all, you have to believe that the book you are offering has value. Ask your readers what do they like to read? Sell them on the benefits of your book. Find out what pains them. Often you’ll find readers who want to write a book themselves. This is how I started my literary services, then later my literary agency. I also have done Internet radio since March 5, 2002 (currently on Artistfirst.com) to provide writers with an international platform to market their book.
What was the painful motivation? People were tired of not seeing their words in print, then tired of not being able to get their books out to the market. So find what pains people enough to move them to action and you will be able to make the sale.
————-
Dr. Maxine Thompson is a novelist, poet, columnist, short story writer, book reviewer, an editor, ghostwriter, Internet Radio Show Host, and a Literary Agent. She is the author of The Ebony Tree, No Pockets in a Shroud, A Place Called Home (A Short Story Collection), The Hush Hush Secrets of Writing Fiction That Sell, a contributor to bestselling anthologies Secret Lovers, All in The Family, and Never Knew Love Like This Before. Hostage of Lies is her latest fiction novel. Visit her online at http://www.maxinethompsonbooks.com.
Hello Maxine and welcome! I hope everyone had the opportunity to download this e-book when it was available on the site. You’ve shared quite a bit of useful information. At what point did you know you “really” wanted to do literary-type work?
In October 1997, when I took an early retirement from my social work job, I had no way of making ends meet.
Meantime, I was fascinated by seeing the rise of Black books in the black book stores.
Because of my interest in Black books, I did an apprentice job at Milligan’s Books. So if you’re interested in doing a business that you have no experience in, offer to act as an apprentice for a company of that sort. I learned how to edit, format, ghostwrite, just as I stumbled along.
Now I am getting ready to publish a few authors. I am starting out with ebooks and Print on Demand. The timing finally seems right.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Tee,
Forgive me for not saying thanks for your kind welcome.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Hello everyone!
Welcome to all literary entrepreneurs or writers who’d like to supplement their incomes through doing different types of writing.
We are definitely living in trying times, and, needless to say, we all have to be creative as to finding ways to make ends meet as a writer. I’m here to share what I’ve learned over the past twelve years, but I’d like any suggestions from fellow writers/literary entrepreneurs.
Does anyone have any questions about working as a ghostwriter, editor, or copywriter?
Thanks for stopping by.
Note: I’m here early because I am also a caregiver for my husband. I will have to stop in about an hour to handle my caregiving duties, but I’ll be back and available all day.
Maxine, I’ve heard some horror stories about ghostwriting, so let’s start with that first. How did you get started with ghostwriting and what type of agreements should someone look for/understand when they agree to this type of writing? (Please touch on non-disclosure agreements and flat fee vs royalties, too.)
Thanks!
-Tee
Tee,
Without a doubt, when you ghostwrite, there should be confidentiality. You should have a nondisclosure in your contract agreement.
If the ghostwriter can put his or her ego aside, it won’t turn into a nightmare. I’ve done ghostwriting since 2000. I accidentally stumbled on it when I had to retype and rewrite a book for a doctor.
I remember a horror case a while back where the ghostwriter went public, saying the person did not pay him.
First of all, get half the money up front. Get paid as you deliver the book.
If clients are satisfied, they will return to you. It’s self-sabotage to run around saying whose book you ghostwrote.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Exactly! You’ve touched on what I think is one of the biggest problems with ghostwriting…egos. Now I’m no writer, but I couldn’t imagine agreeing to write something IF you can’t be okay with the fact that it may become a bestseller and you’ll never get to claim it. LOL.
Another one of my issues, yep, I have a few, is the person who is “claiming” the book. I know ghostwriters are behind a lot of successful books, but it really bothers me how the person they wrote it for gets to sit on stage saying “I wrote the book because” or things like this… It’s a lie. Or is it? LOL.
(And it looks like it’s just you and me for a while, but I have many, many questions.)
Tee,
I’ve had pretty good experiences as a ghostwriter.
So far, no complaints.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Can you please explain what a ghostwriter is? I don’t quite understand what one is and what they do, thanks.
Jamie,
Sorry, I’m just getting back to you.
A ghostwriter helps write other’s books, speeches or even articles, since content drives a lot of traffic on the internet.
Here’s my definition from my book. “A ghostwriter is someone who writes books and materials for other people. The ghostwriter does the actual writing, but the material is published under your client’s byline, and the client is credited as the author. This helps polish the work before it is brought to market.
Celebrities often work with ghostwriters to get their books written, but usually experienced ghostwriters get those jobs. In this case, often you’ll see the ghostwriter’s byline with the celebrity’s. ”
I hope this helps.
Thanks for your question.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Tee,
As for royalties, some writers ghostwrite for free, counting on recouping their money with royalties. It’s better to get some now, and perhaps some royalties later.
This is how some copywriters work. They write a sales letter for a $1,000 or more, and if it makes the company money, they get paid a percentage or royalties.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
This sounds like the more win/win type of situation for the ghostwriter. Can you imagine getting a flat fee of $20,000 for a book you wrote and then it hits the NYT best-sellers list a million times? Whew…I think the average person would be sick if they didn’t negotiate in royalties in addition to the fee.
Of the books you’ve ghostwritten, have your experiences been mostly positive, negative or a mixture of both and were you working on behalf of the author (directly) or the publisher or other entity?
Tee,
Now, I’m able to see your comment.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
I find the concept of ghostwriting fascinating…I would not hire a ghost writer, but I could do it if the conditions were right, in fact I have been asked to…by someone who is a bit infamous…but haven’t had the time…very interesting…
angelia
Thanks for stopping in, Angelia. I too find it fascinating, but for someone with a very strong voice (as you have), how would you tone that down to not be “you” and be more of the other writer.
Maxine, how do you do this? Do you switch off the Maxine and throw on the “it” of the author you’re writing for? Are you able to switch from genre to genre?
And, while I know you can’t give details, what’s the most challenging job you’ve done — as far as which parts were challenging?
-Tee
Tee,
it is funny you would say that because I have been told my voice is distinct…when doing an anthology I made sure I was not the one who added or deducted from the other authors work for fear it would sound just like me..well shoot, I have enough jobs already…darn…:}
Voice is very important to any good work of fiction or non-ficiton.
You want your character’s voices to stand out. You really like the voices to be a little outrageous or eccentric in fiction.
I’ve learned to tone my voice down and blend into whoever’s voice I work with. You have to study the writer’s style and pick it up. You have to become like one breath, when you ghostwrite for people.
I’m just finishing up a memoir that has taken a while due to the writer’s family issues of illness, etc. At one point, she had to get on a tape recorder and have those notes transcribed.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Angelia,
I hope you saw my answer from earlier regarding doing celebrity books. I always loved Alex Haley’s book, Malcolm X, that he was able to have his byline on the cover.
Thank you for stopping by.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
I too loved THE AUTOBIOGRAPHY, actually I do some technical writing for US Department of the Interior. I was being a bit facetious.
angelia
Technical writing pays the most. I’m trying to learn it because you can write one little sales letter that can make you 6 figures, from what I’m learning.
Maxine,
Thanks for advice we can use. I have gotten extra income by following your tips.
.-= Shelia Goss´s last blog ..Red Carpet Tour Gets a Little Deep =-.
Shelia,
Thanks for stopping by.
We all need multiple streams of income and we develop a lot of skills as writers that we sleep on. We all have a lot of talents that we’re sleeping on.
When it’s the other person’s ideas and concepts, they are not lying when they take cred.
Just as the graphic artist can make their cover from your concept, the ghostwriter shapes the ideas.
Some people have a better command of the English language and they can do a better job with your ideas.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Author: angelia
Comment:
I find the concept of ghostwriting fascinating…I would not hire a ghost writer, but I could do it if the conditions were right, in fact I have been asked to…by someone who is a bit infamous…but haven’t had the time…very interesting…
angelia
Angelia,
That’s a ghostwriter’s dream….to be like Alex Haley and write the iconic book, Malcolm X, and have your name on the cover.
I’d love to write a celebrity book. You get big bucks, easily 6 figures and royalties. But like all things, you have to build a portfolio to get to this point.
Thanks for your question.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Do you think a writer can overexpose themselves with all the social networks out there like twitter, facebook, etc?
.-= Shelia Goss´s last blog ..Red Carpet Tour Gets a Little Deep =-.
Shelia,
According to the book coach, Judy Cullins, she has increased her teleseminars and business from twittering.
http://bookcoaching.com/wp/use-twitter-teleseminar/
One last question.
I would love to ghostwrite a celebrity book. I recall when one celebrity got sued by her publisher for not producing a book, the first thing I thought was–she should have called me. I would have written it for her. LOL
If you are interested in being a ghostwriter, how would one go about getting their start?
.-= Shelia Goss´s last blog ..Red Carpet Tour Gets a Little Deep =-.
Shelia,
Since you’re in the entertainment field, just ask around. Many celebrities want to do tell-alls.
I don’t think you have to start small like I did because you have so many novels under your belt now.
BTW, Congratulations on Hollywood Deception’s release.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Thanks Maxine. I’m seriously considering it. I have a few of my own projects to finish, but in between time, I’m going to check more into it.
.-= Shelia Goss´s last blog ..Red Carpet Tour Gets a Little Deep =-.
Shelia,
This would be a great opportunity for you.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
You are so humble Maxine, which I think is the first ‘best’ asset of a ghostwriter. To be able to put ‘you’ aside and take on writing needs of another person. Wanting the best for ‘their’ story…. yes, it’s truly a marvelous talent. Not everyone could do it…
Hey, Michelle,
Thanks for stopping by. I just got back from dropping Horace off at the adult center.
It’s just like writing your own book. The downside is it takes energy. You’d be surprised how many big authors have supplemented their income with ghostwriting.
You step inside the book and act out the characters, just like in your own book.
You write so fast Michelle, this would be something you could easily do, if you ever wanted to. Between you and Shelia Goss, you both are fast writers. You have a ready sense of story and know how to move one. How many books do you have now, 25?
BTW, I am loving Blood Relations. I got back into it.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
For those who are just now peeking in or who did not get to download this e-book, the full table of contents for How to Survive and Thrive as a Literary Entrepreneur in a Down Economy are below:
Chapter 1 Make Money As a Writer
Chapter 2 Make Money Using Media
Chapter 3 Supplement your Income as an Editor
Chapter 4 Make Money Using Socio-Political Issues
Chapter 5 Self-Publishing as a Way to Make Money
Chapter 6 Make Money Through Creative Marketing
Chapter 7 Make Money Through Traditional Publishers
Chapter 8 Make Money Through Writing Better Stories
Chapter 9 Make Money Writing Urban Fiction
Chapter 10 Build Your Brand
Chapter 11 Why not Write in Collaboration?
Chapter 12 Speak and Sell Books
Chapter 13 Ghostwriting: Another Way to Make Money
Chapter 14 Make Money As a Travel Writer
Chapter 15 Use Internet Radio—Get Paid
Chapter 16 Connect with Book Clubs and Get Paid
Chapter 17 Selling Books During Holidays
Chapter 18 Translate Past Life Experience into Writing/Publishing
Maxine, would you like to touch on some of the other areas of the book?
Does anyone have any additional questions?
Thanks Tee. I didn’t get a chance to download the book. I see a section about being a Travel Write that would interest me.
I have another question reference book collaboration.
What’s the best approach when working with more than one writer on a book project?
.-= Shelia Goss´s last blog ..Red Carpet Tour Gets a Little Deep =-.
Shelia,
One person needs to coordinate and take the lead. I did on Secret Lovers and Never Knew Love Like This Before.
But on All in the Family, I was the last added writer, and the lead writer, Janice Sims, coordinated everything. She came up with the concept and the synopsis for the entire family.
Those anthologies are still selling, and it helped me as a self-published writer at the time, pick up audience from the authors who were with mainstream. That has slowly led to back end money. Also, two anthologies were picked up by Black Expressions and made the bestseller’s list there and on Amazon and on Kindle, so that synergy can be good.
Just make sure you work with people that you are compatible with, in terms of your personality and writing style.
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Tee,
I’d like to talk about using Internet radio to make money, either as a host or as a guest.
As a guest, sometimes you get paid way down the line. People buy your books later. If you’re a speaker, you could get a speaking job from the Internet or even television exposure.
As a host of Internet radio, I found it can lead to business contacts. I’ve been doing Internet radio for 8 years as of March 5, 2010, and it indirectly led to growing my Literary Agency. Why? Because I met publishers, book club owners such as you, Tee,
, and aspiring writers.
Sometimes I get complaints from writers that they didn’t see a dip in sales right after they came on the show. But internet radio shows that are archived have an after-life.
Tony, the owner, from Artistfirst, recetnly told me people are still downloading shows from 4 years ago when they started archiving them.
He said there were 4 million downloads in March 2010 for the station, and quite a few for the guests that came on the Dr. Maxine Thompson show.
That could be future sales for writers. I just read a statistic that said 50% of book sales now are online.
This is a marathon; not a race.
Many writers are impatient. If you do this for the love of writing, you will not wear out.
Tee, what do you think?
Maxine, I agree wholeheartedly! Write for the love of writing, not for the money! And write what you know/love, not FOR the market.
Thanks so much for sharing such great information.
-Tee
Hello Maxine,
I think this book comes at a perfect time when as our economy struggles literary artist are getting hit,needing other ways to make income instead of with straight book sales.
I have been asked to be a ghostwriter, but I fear I wouldn’t put the same passion as I would in my own books in someone elses.
gosh, its been so long since we’ve seen each other.
Be blessed and success on all your literary endeavors!
.-= Sylvia ´s last blog ..LABW: Parent TipHow To Create Great Easter Baskets on a Budget for the kids! =-.
Hi Sylvia,
Good to hear from you. Thanks for stopping in. I’m just seeing your pst.
Hopefully, I’ll get to Detroit again soon. That’s my hometown.
The last time I saw you was in 2007 at the writer’s conference…(Sadly, that was Nancy’s–my late sister–last train trip with me.) I’m hoping to get to Detroit this summer.
But, at any rate, you are right. Ghostwriting isn’t for everyone.
Thinking about it, it’s not something I could have done at a younger age, or while I was rearing children. I’ve ghostwritten since I’ve had the empty nest over the past 10 years. It’s not something I do quickly either, but I can when I need to.
Continued Success with your writing and your organization!
The Michigan Network has really grown under your leadership!
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.
Maxine…thanks so much for giving us the opportunity to read your book and sharing with us yesterday. It’s a bit disappointing that more authors/literary entrepreneurs didn’t stop through and ask questions, but looking at the stats…they were here looking, so hopefully they’ve learned something.
To those of you who stopped in…thank you too!
-Tee
Tee,
Thank you for this great opportunity! I hope it stimulated ideas for other writers.
I thought there were a lot of questions–particularly since I haven’t done a chat in years.
I was pleased with the numbers listening. We were talking about a taboo subject–money. It’s the number one cause of divorce, crime, and just about every other malady known to man.
I think we get uncomfortable talking about money…but as writers, we’ve got to have business savvy, as well as creativity in today’s market.
Thanks again!
.-= Maxine Thompson´s last blog ..5 Questions with Author Shelia M Goss =-.