When I meet an author with a great book concept, one who’s definitely the right person to write that book, right away I’ll often encourage him or her to self-publish. This is because I know that an author is thoroughly invested in what they have to say. Your publisher can help you determine the genre if you like.And this is your book – no one should tell you what to do.

And with the advent of digital publishing, you are not required to move. At all.

Payment comes in two parts: the first is the advance, which can vary. Advances are a one-time amount and it’s an exchange of money for goods. The advance basically symbolizes that the publishing house is offering you X amount for delivery of a manuscript. I’ve seen advances as small as $5,000 and advances as large as $25,000. It depends on your body of work and if it’s being shopped around to different houses. If a few houses are interested in your work, you’re more likely to get a higher advance, since so many people want your manuscript. First-time authors, however, should not expect an advance quite as high as $25,000, unless your book is ridiculously fantastic and there is an auction on it.

The second part comes with royalties. You get a certain percentage on, say, the first 10,000 copies sold. Then you get a smaller percentage on the next 10,000 copies sold. THEN you get an even smaller percentage than that on all copies sold thereafter. The percentages vary and are negotiated between the publishing house and an author’s agent. The more famous and best-known authors can get an initial royalty of 7%; the lesser-known authors, including first-time authors, can get an initial royalty of between 3 to 4%.

If you have a very good manuscript and a crafty literary agent, you can get a decent amount but don’t expect to be able to get enough money to quit your job and live the high life. You won’t make millions.