In the consumer marketplace, everything is based on one single premise: you get what you pay for. Many people assume this statement to be simply an excuse for people to mark up prices and receive a great deal of profit while taking advantage of the buyer in the process, but this is simply not true.
The basic breakdown of the cost of a product goes as such: base cost of materials + necessary costs to make more. However, the base cost of materials is not simply the fabric it is made of. In the world of ghostwriting, the product is a fully fleshed out idea that has been created, written, edited, and formatted. So, that “base cost of materials” includes the amount of rent, hourly pay, and raw materials (such as a computer a ghostwriter has leased in order to work or research materials the ghostwriter had to purchase). The base cost of materials is what would need to be charged in order to break even.
The necessary costs to make more are the same basic things: rent, hourly pay, and raw materials. However, many people multiply the “necessary cost of materials” times two, meaning that for every book they sell, they can pay the ghostwriter as well as have the money to pay those who market the company to bring in more orders.
After all, had it not been for marketing strategies of a ghostwriting publishing house, you would not have the ability to connect yourself with our fabulous ghostwriters and the services and specialties they offer.
That is basically how prices are set up, and this is the format that drives the type of product you receive. If you pay less, you will get less of a product. Why? Because the ghostwriter is not being paid for the time you are asking of them. Just as your time is not free, neither is theirs, and the time they are paid is the time they will invest into your book.
Think of it this way: it is a lot like Walmart’s business practices. When Walmart is pitched a product they enjoy, two things happen: 1) an offer is put on the table, and 2) Walmart asks whether or not the creator of the product can make a cheaper product to fit within a pre-established price range. What does this mean for the creator? It means utilizing cheaper materials to drive the price down within affecting their bottom line. There is no crime in making money off of a product you have established and a service you have to offer, the issue comes when that service is no longer being paid for.
When Walmart sees a product they enjoy, there are times where they outright ask the creator to make a cheaper version they can sell. This means the product uses inferior products and is usually rushed and put together specifically for Walmart. This can lead to a host of issues, from the product not working as desired to the product prematurely breaking.
Many people are under the assumption that those in the arts do what they do because they love it, and that the love for their craft should sustain them more than monetary gain from their craft. Question: how would that conversation go if you said this to a doctor? Or a lawyer? Or how about a teacher?
Yes, many artists and creators do what they do because they love what they do, but that does not somehow negate the need for monetizing their craft. They understand the service they can provide, and they genuinely want to help people, but they also want to genuinely pay their bills, and there is nothing wrong with that. What is wrong, however, is asking for their time for free when you are not wanting to pay the actual price for what you are actually asking.
Does this mean that ghostwriters intentionally produce a shoddy product if they are offered a shoddy price? Most certainly not. However, when a task comes through that requires a ghostwriter to do 30 hours of work but only pays for 10 hours of that work, the ghostwriter has to cut corners while ensuring the product is the best it can be. Lost? Well, revert back to the Walmart example: if a creator wants their product to be sold in Walmart, they do not want to ruin their reputation, right? So, they set out to create the best cheaper product they can. However, that cheaper product can only be so good without upgrading the materials, and upgrading those materials will cut into their bottom line and put them “in the red” monetarily.
Ghostwriters are the same way: they will put in the absolute best for what you have paid for. But, if you want more, you have to pay for their time. Think of it as an upgrade in their “materials.” Why? Because they have bills to pay, and if you only want to pay them for 10 hours of work when they need 30 hours of work, then it has become their job to go seek out other projects in order to meet their own bottom line before they are “in the red” monetarily.
If you do not know how to truly price your book, then talk with any one of our consultants. They will answer all of the questions you have to offer and they will give you a legitimate price range for everything you are asking for. Then, you can negotiate. You can find a price that is right for your budget that comes with a proper outline of everything you can receive on that budget for your book. But, understand that the more you pay, the higher quality your book will be overall. Why? Because you are purchasing that ghostwriter’s time, and if they have to take on less projects in order to meet their own bottom line, that means freeing up more time in their schedule to pay attention to your book. And that outcome makes everyone happy.
In the world of the consumer market, you get what you pay for, and in the publishing world, ghostwriting is no different.