I can tell you that 2011 was a rough year for me. For the first time in more than a decade, I failed to meet my income goal of $60,000. Instead I grossed $51,818--and next post I'll explain why. For now, let's look at where my money came from.
- The majority, about $26,750, came from book income--primarily advances for books I wrote under my own name, and for ghostwriting/coauthoring for clients. This included work I did for a book packager, work for private clients, and the small advance to update a book I coauthored.
- Another $2,842 came from royalties from traditionally published books, POD books, and ebooks. Royalties are my favorite kind of money to make, and a reason I continue to promote books like Goodbye Byline. Every time someone buys a copy, I make (a little) money.
- I made another $600 or so from "hand-sales" at writers' conferences and other speaking gigs. No, it's not a lot of money but people often want to buy your book after they've seen you speak, so if you're an author, you should plan to carry along a box of books whenever you do a public event.
- From speaking gigs, I netted another $5,150. This included speaking at writers' conferences, libraries, and other events. This isn't as much as I've made in other years, but it's better than what I made from speaking in 2010.
- I also sold another $3,556 worth of reprints. Again, this isn't a huge amount of money, but the work involved is minimal, and another source of "free" money.
- The rest of my income came from writing articles and consulting (primarily for would-be authors who need help considering their book publishing options).
**Didn't take the 2011 income survey yet? Please do it now, and ask others to do the same! Thank you! :)