5. That they’ll be able to quit their day job once they sell that first book

http://www.writersdigest.com/editor-blogs/guide-to-literary-agents

Industry advances are shrinking. My advances today are less than they ever were. Factor in that a publisher will only buy roughly one book a year (if you’re lucky) and that your agent will take 15% and the taxman another 20-30% and you’re left with less than you first thought.
I quit my day job, started traveling the world AND then decided to become a writer because I never researched how much authors earn. Doh.
How do I survive financially?
– I copywrite
– I have started writing screenplays and earning from that.
– I’ve optioned my books to production companies
– I teach / lead retreats
– I work my ass off!
I’ve had to use my creativity and imagination to find other ways to earn income, in short.

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