Advice on how to understand and become a part of the writing and publishing ecosystem, including how to know who’s giving good advice and a bit on understanding traditional publishing and the associated math.
RITA ® Award-Winning Author of Fantasy Romance
Advice on how to understand and become a part of the writing and publishing ecosystem, including how to know who’s giving good advice and a bit on understanding traditional publishing and the associated math.
April Fool’s Day and the cruelest prank I ever witnessed, my favorite reader compliment to get, and how author ROI varies depending on short or long term. Also, Clifton Strengths, Becca Syme, and what I’ve learned about Connectedness.
Our topic at the SFF Seven this week is our worst ROI ever. So many to choose from!
ROI is industry shorthand for Return on Investment. It’s basically a calculation for financial health of a business. I looked up the origin and found out that Donaldson Brown created the term.
As the Assistant Treasurer [of DuPont] in 1914, Brown developed a formula for monitoring business performance that combined earnings, working capital, and investments in plants and property into a single measure that he termed “return on investment.” It later became known in academic and financial circles as the DuPont Method (or Model) for Return on Investment. The measure was widely taught in business schools and adopted by many companies as a means of benchmarking the financial health of their products and businesses.
That’s interesting, because I wondered if it was an old model. Turns out it’s over a century old!
Also, the term comprises much more than I think most writers mean when they use it. When I hear writers talk about ROI, it’s always whether a particular effort – a conference, buying an ad, buying into an anthology – will be more expensive than the sales it generates. Many reduced it to the simplest math: “If I spend this much attending a con, will I earn more than that on sales of my books?” Often husbands are cited as putting forth this equation, usually as justification for wives not attending cons.
When asked for my opinion there (and sometimes even when NOT asked), I have always said that conferences of all types provide an intangible ROI. Networking and getting your books in front of people give long-term results that aren’t always quantifiable. Since I was doing a bit of research, I looked up if anyone thinks the DuPont Model for ROI is antiquated. Turns out there’s this:
We demonstrate that firms ‘assets are becoming increasing more intangible, and the traditional DuPont Analysis omits this crucial piece of a firm’s ability to generate profit.
Those folks are talking market equity, but it occurs to me that many authors looking at simple math and short-term sales are failing to account for the intangible value of building recognition for their work over the long term.
But I digress.
The topic today asks about my personal worst return on investment. Since I don’t really do the calculations – see above – I don’t know a precise metric. I can, however, share an investment regret. When my very first book came out, the essay collection Wyoming Trucks, True Love, and the Weather Channel, a friend of mine, Chuck, told me one of HIS great regrets was not buying a case of his first book. The first edition was worth a great deal and he was sorry not to have done that. So, I bought a case of my books!
Reader: I still have most of them.
See, my first book didn’t sell tons of copies and I have not become an NYT bestseller with a TV miniseries based on my books, unlike Chuck. He meant well, and I adore him for thinking that I would have the same trajectory, but I’m not C.J. Box, alas!
I suppose the key takeaway here is that there is no one size fits all advice.
Also, that the ROI on cats is always solid.
I’m following up on the Thread I posted this week on the supposed “divide” between traditionally and self-published authors, how we’re all in this business together, and why I think everyone will be hybrid eventually.
A rant today on author coaches and the predatory nature of scavengers who feed on creatives, prompted by a request I received to share my “query letter” for a “free database.” So much no to these people!
Beautiful new covers for my complete, six-book Sorcerous Moons series!!! The spine design with all six together is so gorgeous even Taylor is gasping in admiration! The print editions can be ordered via my website store or the usual retailers.
Our topic at the SFF Seven this week is “Tick-Tock trends—have you tried any reading or writing trends?”
I’m leaving in the misspelling, just so you get how clueless we are. ~ Shakes cane at kids on lawn ~
Regarding TikTok – lol! – a social media property that originated in China, no, I don’t follow or attempt the trends. I sometimes feel like I should. I do have a TikTok account – https://www.tiktok.com/@jeffe_kennedy – and I even have over a thousand followers there, even though I almost never post anything. The followers are due to very kind and generous fellow authors who do the Tiks and Toks better than I do. (Shout out to Vela Roth and Lisette Marshall!)
So, I know that I really should post to TikTok, and I sometimes think about it, and even occasionally do it. But I also remind myself of advice I’ve been giving since the beginning of social media, which is that you “should” do only the kind you enjoy doing. Social media is social and if you’re hating it and faking being social and happy and fun, it shows.
Therefore, instead of discussing reader trends or writing trends or TikTok dances, I’m going to share these beautiful new covers for my complete, six-book Sorcerous Moons series!!! The spine design with all six together is so gorgeous even Taylor is gasping in admiration! The print editions can be ordered via my website store or the usual retailers.
Some schooling today on business, things authors should really know, and arcania on how traditional publishing decides how to handle releases. Also, the “new” genre term Romantasy and why I think it came to be coined.
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Saying goodbye to Stepdad Dave, my third father, and musings on life and death and choosing happiness. (An explanation of where I’ve been all this time.)
How writing a novel is like building a road brick by brick, and how some days you’re nose in the mortar and other days you lift your head to look. Also thoughts on revision, the 3-Act structure, story logic, and knowing whether you have brain juice or not.