Well, yes, it’s true, I have already been published (11 Y/A novels and an illustrated children’s book) but now I’ve written a book for a new market – adult fiction – so I have to find a new publisher. It’s like starting from scratch. To begin this journey I’ve been reading through an informative book called The Complete Guide to Hiring a Literary Agent (by Laura Cross) and discovered the following interesting facts. (The book has an American focus but still!)
- Approximately 80% of all published books fail to earn back the advance given to the authors.
- 85% of new titles published each year are nonfiction.
- First-time authors write 75% of the new nonfiction books published each year.
- According to the Author’s Guild, a successful fiction book sells 5,000 copies and a successful nonfiction book sells 7,500 copies.
- Research indicates that 85% of self-published books sell fewer than 200 copies.
- Authors Jack Canfield and Mark Victor received 144 rejections before obtaining an agent and a publishing deal, and their book, Chicken Soup for the Soul, went on to become a New York Times bestseller.
- Small to mid-size agencies receive an average of 10,000 query letters each year with a rejection rate of 99%. (!!!)
Whoa! That last fact is particularly alarming but I intend to be in that 1% who finds representation.
“I think I can, I think I can, I think I can, I know I can.” (Thank you Little Engine.)