Hi Benjamin,

I agree with most of your points, but since I have been in publishing now long enough to feel like I have escaped from a crypt... a few corrections.

No literary agent worth their salt would ever agree to an exclusive. I have published 13 books (Scholastic, Harcourt, Bloomsbury, and Simon), and I would throw myself on a Bonfire of the Vanities pyre before I ever agreed to an exclusive. It's the first thing most agents strike.

It's true that awards mean shit. (International Nonfiction Award Winner here. That book never made out its advance.) But they build momentum and mark you as someone the reviewers won't pass on. btw, The book AFTER my big award winner did do well.

Here's how you can still make money in publishing.

Retain movie rights. Most NY publishers won't bend on this one but at least try.

Keep International rights. I always agree to a lower advance if I keep International rights. I have two agents - one American and one international. I had one book that made out its advance in the first three months, but I still made more from international sales. Make sure your international agent is heavily connected at Bologna. Most international sales happen there.

Not all agents take 15%. Some take 10%. Mine takes 20%. But she is consistently one of the best-selling US agents so....worth every penny.

And lastly, self-publish. I never have. I don't have the social media following or the marketing chops to ever take on this endeavor. If you do, it's the only way to make money.