Is writing a novel really worth it?

pile of money

There’s no simple answer to this question, because it’s personal and unique to you. If you’re hoping to strike it rich like J. K. Rowling or John Grisham (and to be fair, they had overcome plenty of rejection before they hit the jackpot), you’ll probably be disappointed.

Then again, maybe not. If they can do it, why can’t you?

There are a growing number of writers who make a living pecking away at their keyboard. Many more make a little pocket money every month. And an even bigger number of writers aspires to write for a living.

But it’s not just about the money. There’s more to the question, unless the only thing you’re interested in is buying a yacht and your own island in the Caribbean.

Wouldn’t It Be Better to Play the Lottery?

Some people compare writing a book to playing the lottery. Your chances of becoming a bestselling author may not be much better than winning the lottery, but my money is still on the writing.

Here’s why:

  • Lottery is pure luck of the draw (you can calculate the odds using statistics—they’re dismal)

  • The only way to improve the odds with lottery is to buy more lottery tickets (and even then, there’s a reason many states have legalized gambling—it’s a huge revenue source for them)

  • You can earn some money with writing even if it doesn’t make you rich (how would you feel if your writing paid for your internet bill, your electricity, or maybe even your mortgage?)

  • You’re in control of your earnings when you write and you can invest in yourself to improve the odds (by paying for an editor, a cover, spending time and money on marketing and advertising, building a mailing list etc. etc.)

  • You can exponentially earn more money with writing over time by growing your audience and writing more books

  • Writing income is recurring—you write the book once and collect royalties every month (ideally)

Technically, you could do both: play the lottery and write a book. But lottery tickets and writing a book require an investment of cash. If you were swimming in it, you probably wouldn’t try to figure out if writing a novel is worth it for you. Instead of trying the get-rich-quick route the lottery promises, you’re better off working on your next book.

If you need money right now, get a job. Writing may pay off eventually, but it may not. There’s no guarantee. At all. And it takes a lot of time and money to publish and market a book. To be successful in this field, you have to persevere.

Investment of Time & Money

Everyone knows it takes a lot of time to write a novel. And that’s mostly the biggest concern with new writers. That’s why NaNoWriMo (National Novel Writing Month) exists—to prove you can find time to write.

Because you do. You have 24 hours every day, just like Stephen King and Nora Roberts. Except when daylight savings time starts. But I digress.

It’s not about how much time you have, it’s what you do with your time. You don’t have to write 8 hours a day to write a novel. Far from it. You can do it in as little as 20 minutes a day. Of course, it will take a little longer that way, but it won’t take forever.

The time commitment doesn’t actually end with writing the novel. As huge as that is for most first-time authors, there’s a lot more to do once you write The End. There’s editing, sending it off to Beta readers to work on the plot and the structure. There’s line editing where you dot your i’s and cross your t’s. Then it’s finding an agent if you want to get published. Or formatting, getting a cover, and uploading your book to the various places.

And even after you hit the publish button, you’re far from finished. Nobody will magically find your book because there are a million others out there just like it. You’ll have to become a marketing expert, too, or hire someone to do it for you.

I’m not saying all this to discourage you from writing a book. Far from it. But you have to write a novel for the right reasons. It’s a lot like having a baby. It’s a lot more work than you think. And then they turn into toddlers and eventually, teenagers. And you thought having a baby was hard. Just wait.

If you think writing a novel is hard, you haven’t seen anything yet. 😉

Financial Aspect

A few years ago, you could probably make money with your self-published novel without investing money of your own. You could publish your first book free and sell the second book for a few bucks and get a handful of sales a day. Easy. No marketing or advertising required.

Nowadays? The market has changed. There are millions of books available for sale, even plenty of free ones for those readers who don’’ buy books.

The bottom line? Writing a novel probably won’t pay off. At least not for your first book, and definitely not in a “it-the-jackpot-overnight”-kind of way.

Don’’ write a novel just for the money alone. Maybe play with the stock market instead?

Do You Feel Compelled to Write?

One reason to write is that you feel compelled to do it. You just have to write. There’s a story inside of you that needs to be told. Or you have a new story idea every day and are just overflowing with creative ideas. Or you just love seeing your character come to life. Or you have an idea for a story you really want to read.

You get the idea.

So, write a novel. Don’t worry about whether or not it’s worth it. Do it regardless. And then be proud of yourself for getting it done. Lots of people want to write a book. Few people very do it. And of those who start, many quit before they get halfway through.

Non-Monetary Benefits

There are lots of benefits to writing a book that have nothing to do with cash in the bank. The first one is the sense of accomplishment that you have done something few other people do. You have a finished manuscript? You deserve to celebrate!

Next, who has read your book? And what did they think of it? Even one person who read your story and loved it can help you whether the rejection that is to come down the road, either from agents and publishers or as critical reviews. But when your story resonates with a reader or entertains them or helps them, this is huge.

There are plenty of small-time authors who keep writing because they have built a fanbase of happy readers. This Day and Age, it’s easy to connect with your readers via newsletter, social media, etc. Take advantage of it and have fun with it. You’re a mini celebrity to your fans.

If You’re Serious about Writing

If you’re still serious about writing, even though it may never replace the income from your daytime job, here are some tips to help you get started.

  • Write (almost) every day—even if it’s just for 20 minutes

  • If a novel is too overwhelming, write a short story

  • Get more eyes on your work

  • Invite feedback

  • Pitch your story idea to different people and see what they think

If you’re serious about becoming a writer, you’ll have to invite feedback (aka criticism) of your work. Beta readers are a great way to get feedback on the big parts of your story. They can help you ensure you’re hitting the tropes of your particular genre and weaving a coherent plot.

After a Beta round a few of your own editing rounds, run this script by a developmental editor. They also help with big overall plot, character arcs, etc. If you can’t afford to pay for developmental editing (I hear you!), absolutely don’t skimp on the Betas. If you can get 5 or more people to Beta read your book (and these Beta readers should read a lot of books in your genre), you’ll probably get some good feedback.

But brace yourself. The first time someone gives you genuine feedback on your story, it will feel like being stabbed repeatedly with a very sharp dagger. You might even think you’re bleeding out. It’s a tremendous blow to your ego, to your story, to everything you’ve done so far.

It’s okay to get drunk or take a month off from the writing dream. But eventually, pick yourself back up, dust yourself off, and try again. There will come a time where you welcome critical feedback. It means you’re growing as a writer.

Writing isn’t about stroking your ego. It’s about getting better at the craft. And feedback is essential.

It’s quite possible your first book is utter garbage. The second one may be only marginally better. Maybe it will take you 5 books until you become a superb storyteller. Maybe more. It’s also possible your first book will eventually turn out great, but that’s only if you edit and revise. And revise. And then edit some more.

You may have to revise your story a million times before it’s good enough to get published. You can also use it as a springboard and write another story, incorporating the lessons you learned from the first one. Not every book will be up to snuff, and not every story is worth editing. It’s up to you. Everybody’s journey is unique.

Don’t Do It for the Wrong Reasons

The bottom line is you don’t want to write for all the wrong reasons.

Writing is hard. It’s really hard. If you want to write a book to make money, stop right there. You’re better off getting a job at McDonald’s or Walmart. That’s money you can count on, and the hourly wage is probably lots better than writing a book.

Not doing things just for the money is excellent advice for any undertaking. You want to start a business to make money? It probably won’t work. You want to make a difference and help people? Now you’re onto something.

Novelize started the same way. Josh built the original Beta version in 2013, because he didn’t like Scrivener. He tried to find good novel writing software, because he wanted to write a novel. Being a developer, he needed a program to do this in. And when he couldn’t find one, he built his own. The ultimate procrastination to writing a novel: building novel writing software.

But if he had created Novelize to make money, it probably would have gone belly up. But it’s 2021, and we’re still here, helping people write their novels. Even though writing is so hard.

Cheers to you!