Here is a recent article from the Fred Gleeck Insight ezine.
In the past month or so I've spoken at a lot of events for authors and publishers. They are an interesting group. Most of them have an incredible passion for their subject matter. I applaud that. They are also some of the worst business people (generalization but true) on the planet.
When speaking to these groups recently, I've been using the line: "Are you in the publishing BUSINESS or the publishing HOBBY?"
You act and treat a hobby differently than a business.
Hobbies don't have to make you money. In most cases they end up costing you a bundle. Ask anyone who owns horses. This is the only hobby I've heard that makes you spend more money than you would on developing a workable piece of software.
The SINGLE biggest mistake this group makes is thinking that they can make any real money from a book alone. The answer to that would be a big NO!
To be honest there are FEW exceptions, but that number is VERY small.
The author who wants to make REAL money needs to develop a line of products related to their topic. This is the only way to make book writing profitable.
Fred Gleeck, Fred Gleeck Productions, 209 S Stephanie Street #B-209, Henderson NV 89012; 800-345-3325. Email: email@example.com.
Fred is correct in saying that you rarely can make money on a book alone. You really need to add ancillary products or services: subsidiary rights, tapes, CDs, MP3s, seminars, consulting, speaking, etc.