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We write for many reasons. Money is not usually the top of the list but we would all like to be rewarded for our work and financial success is certainly a great goal.
James Patterson is the highest earning author
Forbes.com released their list of the highest paid authors earlier this year. The top 10 earners were: James Patterson, Stephenie Meyer, Stephen King, Danielle Steel, Ken Follett, Dean Koontz, Janet Evanovitch, John Grisham, Nicholas Sparks, and JK Rowling
So what can we learn from them in terms of modeling success?
- Write a lot of books. James Patterson has had 51 NY Times bestsellers and churns out almost 1 book a month now with a number of collaborators. While you may not like his writing style, he is certainly successful in understanding books are a product. Write to a formula, get them out there and people will buy them. Most of these writers are prolific with Meyer and Rowling as outliers (see the next point!)
- Write a series. All of these writers have a series of books, some of them have multiple series with protagonists that people get to know and are keen to read the next installment about. Remember, it may take you a year to write a book, but it takes a real fan about 5 hours to read it. Then they want the next one! If you can hook people into your series, you will sell the rest of them to that reader and the books will keep selling.
- Know your brand and write in a genre. Each of these names is synonymous with a genre. You know what you are getting when you pick up a Stephen King or a Danielle Steel. If they write in other genres, they use another name. These authors are brand names, instantly recognizable products. You need to decide what your brand is and where you fit on a bookshelf. Do you fit next to Patterson or Rowling or Sparks?
- Understand it takes time. Most of the top 10 have been around for decades. Only Meyer and Sparks could be considered young authors, so it is encouraging to think that plugging away for years will eventually have some success. If James Patterson or Danielle Steel had given up after 2 books, would they be where they are now?
- Write popular fiction. This may be controversial but if you want to make money, you need to write for the masses and avoid literary fiction. There is a clear difference between a best-selling author versus a best writing author. One makes money, the other wins literary acclaim and prizes. You need to be clear what you are aiming for. (That doesn't mean bestsellers are not well written. Many of them are and we should all aim to write well. It just means they are not considered “literary” by the critics).
- Create multiple streams of income. These authors do not just have physical books. Their ideas have been turned into other products including movies, merchandise, spin-off books, audio and digital products, games and even real world experiences (think Harry Potter world!). Yes, they are big names but you can create multiple streams of income for your books too.
What do you think about these top earners? Do you buy their books? How can you model their success?
Carmal Allworth says
November 24, 2011 at 10:34 pmSometimes it is this simple. In life it is all in who you know. She or he can move you forward or hold you back. I have sold many books and do not live in Hollywood…. But I keep striving on, it is a great rewarding feeling to say. I did it, I am an Author and I love it. How many can actually say that and is that reward enough, I wonder, is the completion of our books ever enough, will the hunger always be there?
Joanna Penn says
November 25, 2011 at 4:46 amHi Carmal, it’s funny you say that – I think the hunger will always be there. It is perhaps the writer’s curse to never be satisfied. There’s always another book!
Debra Jarvis says
November 27, 2011 at 7:00 pmHi All,
Love Caramal’s point, She’s right, who you know is important, so is who you are (the person that lives in your body) and ‘who knows you’. In fact I believe ‘who knows you’ is so important that like our books (I have as yet only published one) we want to put ourselves in front of lots of people who come to know us and who want to see us succeed on a grander scale, some of them will even give us a helping hand. Part of being in the money is being prepared to have a public profile and and become a public figure.
Also writers like Rowling put in their time and no doubt put up with a lot of crap from others who couldn’t see that their dedication to their writing was justified. These writers decided to place a greater value on their writing for long term gain, rather than do what was ‘expected’ by family, friends and the community. Good on them! We are responsible for for the results we produce in our lives. Listen to the voice within and do what’s right for you! Debra 🙂
Carmal Allworth says
November 27, 2011 at 11:45 pmThank you Debra,
I try to listen to the voice with in, I think thats what made me start writing. Then I read about the movie ‘The Help’, all accomplished because the publisher is a screen writer, who knew the Author and they were raised in the same small town. So he made her book into a movie. That is very nice, could it get any better, an entire story within the story, but I don’t have that connection. So I will trudge along and I guess I will fill my own self rewards in writing. Not to sure about public profile, but finacial rewards, wow- wouldn’t that be awesome….. Carmal
wachukwu fortune says
July 12, 2012 at 6:19 amI want to know if you treat Africa writers.
Isobelle Ferguson says
February 10, 2013 at 1:14 amHi, I emailed you before. Thanks for the advice. I am now writing a book about me and my friends favorite game. I am hoping that it will be a great product. I can’t wait to finish it! Thanks again for the great advice. It was very helpful!
Dennis Hester says
January 31, 2015 at 2:31 pmHi Joanna,
Thanks for the insightful post into “big authors.”
What magazines would you recommend to pitch “short stories and novella’s” to?
Thank you very much.
Keep up the good work in providing insight and inspiration.
Dennis
Joanna Penn says
February 1, 2015 at 3:04 amSorry Dennis, I don’t pitch short stories or novellas – I just self-publish. Try Writer’s Digest or other info about pitching.