Lots of people want to quit their jobs to become full-time authors. It’s one of the subjects I get asked most about. So, I thought I’d write a quick post detailing my experiences.
Twelve years ago, I was a marketing manager for a large European business software company. I had a small team of direct marketing people under me and co-responsibility for a £ half-million marketing budget. When the company restructured and my role became impossible, I left because a) I was sick of the stress and b) I wanted to write.
(Annoyingly, if I’d have stuck it out for another eight months, I would have been made redundant and received quite a nice redundancy package, as I’d been at the company for ten years. As it was, I left with nothing. But at least I didn’t have a heart attack or stress-related nervous breakdown.)
Since then, I’ve written and published 12 books, numerous short stories, and a fair few blog posts and articles. I’ve also been a stay-at-home dad for my kids, and over the last year become a full-time carer for my youngest.
However, it’s also been a financial rollercoaster. I’ve done freelance work as a copywriter and journalist and done some part-time work for local organisations in order to bring in some money, and there have been periods of barely scraping by, accompanied by many sleepless nights.
I don’t think I would have survived the past two or three years without the support of my awesome Patreon community, who have been extremely encouraging and loyal.
But since Embers of War was published in 2018, money has started to trickle in from foreign sales, royalties, audio rights, and TV/movie options. Not megabucks, and certainly not as much as I earned in my previous job, but enough to provide a little breathing space.
So, if you’re thinking of giving up a reliable income in favour of an artistic life, think long and hard about what that means.
The average advance for a novel is somewhere around £4k-£5k, and that’s not usually paid all in one lump sum. You get half when you sign the contact and half when the book is published, which might not be for another year, depending on schedules. So, after spending a year writing your debut novel, you could be looking at an annual income of £2,500, which is certainly not enough to live on.
An agent can help. They might be able to negotiate a better deal, and they will let help you hang onto your foreign publication rights, which can then be sold to generate more income.
But you are still going to need to find a way to generate more income, especially if you have dependents and a mortgage. So, you may have to consider a part-time job, or spend part of your writing time hustling as a freelancer.
You can also look at diversifying your channels. If you’re primarily a novelist, you might also consider writing comic scripts or screenplays. If your novels are traditionally published, you might consider self-publishing some shorter fiction.
Once you start to get established, you may be offered a fee to attend a literary festival, or host a writing workshop. But you have to accept the first few months, and maybe years, are going to be an uncertain time – unless you have a patient spouse with a well-paying job.
It’s taken me twelve years to finally start earning decent money in this business, and I’d still be lost without Patreon. So, think carefully, make a plan, and diversify your income streams.
And the best of luck to you!No tags for this post.