Time to Quit the Day Job???

Tip of the Day: Still think self-publishing is a bad idea? Check out Jessica Park's story on The Huffington Post. Jessica is a traditionally published author turned self-pub.

Warning: I come from a family filled with accountants, so money management is a high priority for me.

Before I started self-pubbing, I did have a quasi-day job (other than being a full-time mom). I worked as a freelance journalist for seven years. My articles appeared in national magazines like Parents and in many local parenting magazines. I worked about 15 hours a week - from home - and brought in a bit of income. It took me six months back then to make what I make in one month now. Fiction has not only proved more lucrative, but also more fulfilling. I'm chasing my imagination - there's nothing better than that.

Let's say you have a 9 to 5 job. Maybe you're making $50,000 a year. You might look at your self-pub (or trad pub) sales and assume that since you're making nearly the same amount selling books that it's time to quit the day job. You'll save money because there's no more dry cleaning, no more lunches out, and no more gas.

It's simple, right?

Wrong.

Don't quit your day job.

I'm making almost as much as my engineer husband, who has supported our family on his income for the last ten years (I lost my job while I was pregnant and never went back to working outside the home). Not once have we ever considered having him quit his job.

Publishing does not guarantee you a steady income. I know self-pubbers who were hitting big numbers last year, numbers that still beat my current sales, who are now languishing in the low-sales club.

If they had quit their day jobs, where would they be today? Frustrated with publishing because they can't seem to get their sales off the ground? Likely. Looking for a job in a crappy economy wishing they'd never quit their perfectly fine day job the year before? Definitely.

If you're publishing and considering quitting your day job, ask yourself the most important question: If I never sell another book after today, will I still have enough money to live my life the same way I'm living today? For most of us, that answer is a resounding no.

Yes, I'll probably pull down $100,000 this year. No, I will not ask my husband to quit his job.

What's my magic number?

$10,000,000


Yeah, you read that right. I'm in my mid-thirties and I have two kids who probably want to go to college someday. I have a mortgage and one car that desperately needs replacing. I fear taxes will only get higher to support our failing economy, not to mention the looming shadow of inflation. I can't even contemplate what health insurance will cost when I hit 65.

This topic isn't sexy. It ain't controversial. But it's important to your future and if you have a family, their future too.

So, unless your name is JK Rowling or James Patterson, don't quit your day job. Please.

What I'd Like to See More of in Indie Pub

Tip of the Day: Nervous to give self-pub books a try? Don't be. 99% of the time Amazon allows you to download a sample. Try it before you buy it.

It's really hard to give a list of things I'd like to see in indie and/or self-pub books. As far as genre goes, I think we've got them all covered. Want an angel/werewolf/time travel adventure? It's out there. Want a straight-up YA vamp story? There's six billion to choose from.

What I love to see is originality. I want to read something that hasn't been done before. One recent release that did that is Spider Wars by Angela Carlie (full disclosure: Ang is one of my writing buddies, but she has no idea I'm about to promote her book).

Spider Wars is a YA novel that straddles the line between paranormal romance and horror. It's edgy. It takes risks. It gave me nightmares.

That's what I want. A book that sticks with me for a long time after I read it. And Angela's next novel is so original...I can't talk about it, but OMG...her books are what imagination is all about.

 I'd LOVE, LOVE, LOVE to see more middle grade novels from self-pubbers. Now that the Harry Potter ebooks are available, I'd say it's not long before MG explodes in ebook format. Are you ready? (I am...wrapping one up as I write this.)

And even though my novels are pretty dark at times, where's the ebooks for the bubble gum crowd? Not everyone likes darkness. Sit down at your keyboard and write something cute! NOW! (*disclaimer* - I wrote this post earlier in the week before the other A2A girls mentioned the same thing. I'm seeing a trend here...)

What else would you like to see from the self-pub/indie community???

Megg, Miss Enchanted ePubber