Saturday, February 06, 2010
First off, I don't care what anyone says, I am already a *published author*.
Heck over the course of 4.91 years, this is my 1,909th post!
But the downside is, as an author I fall neatly into the *non-profit* category. No annoying little ads on this pristine blog! No paid product reviews or advances. No Amazon.com wishlist. No *tip jar*.
Last year, I scanned the landscape of Moronic *published* authors, puffed out my chest, tooted my own horn, (scratched myself), and resolved to start writing a book or two.
And I did! I started more than a couple and they are still sitting there in my Google Docs - extremely far from completion. They all commenced with an enthusiastic burst - this is THE book! - but die, or idle anyway, with a whimper.
I never quite saw the economics, the profit-potential, of a book. Book writing, as a career, struck me as very similar to *professional golf* - many aspire to it because of the high visibility of success, but only a scant few of the best really earn.
People, especially econo-illiterate 'old coots' in the past have bid me to *practice all day long, become a pro golfer, they make millions(!)*. And my retort was always that I'd rather be the 5,000th best trader on the planet than the 50th best golfer - at least from a financial/lifestyle perspective.
Read my buddy Barry Ritholtz's post on - Bookonomics.
In it, he confirms my suspicions and offers an even bleaker profit outlook for the author manqué.