Money and advances

- [Narrator] Now let's talk about the topic…that I know is on everyone's mind, money!…Here are some frequently asked questions about money…and advances that I often get from authors.…How much money will I make?…How much can I expect to get for my first book deal?…What is an average book advance?…Will I make enough money to quit my day job…and write full time?…I will say right off the bat,…without sugar coating it, that book advances,…especially for first time authors, can be low.…Most of the time, lower than you might think.…

The reality of the situation is this,…very few authors are extremely rich.…Just because an author's book is on…the shelf in a book store doesn't mean…they're automatically dripping with money.…There are obviously exceptions to this,…the two primary ones being authors…who receive large advances for their books up front…and authors who are huge bestsellers.…Let's talk about the bestsellers first.…Remember when I took you through the math…and told you that if you sold a million copies of your book…