You have a book idea and you’re looking for a ghostwriter to write your book
Good for you! But hang on…
This is a great first step, but there are a few things you need to look into.
The big factor is money and your budget right?
And most of all…
You need to figure out the best method to pay for the services.
There are many ghostwriters out there. Some good and some terrible. This is where you do your due diligence and find the one right for you and your budget.
The tricky part is that most ghostwriters do things differently than other ghostwriters.
Most have their own way of doing things.
Some ghostwriters work off of percentages or other methods of getting paid. But it’s rare. Especially if you are a new author and don’t have a platform or a big name.
As you are looking for your ghostwriters, find out what method they use and if the method is a good fit for you put into an agreement between you and your ghostwriter on how they get paid.
But first, we need to look at some different ghostwriting fee methods to help you understand the big picture.
Let’s dive in…
Here are basic tried-and-true methods ghostwriters use to price a project:
- By The Hour
- Per word/Per page
- Per Project
By The Hour– This is the goes back to when writers in the early days would work on writing articles and sales letters and would bill for their time to the client. Here, you are the client and the bill would come to you on the hours worked. Know that this puts you at a disadvantage. You can’t predict how many hours your book project will last. And you would get constant bills in for the time spent writing by your ghostwriter. This could cause stress and make the book writing journey more worrisome than enjoyable. A book being written can take months and you must consider if you are prepared financially to pay your ghostwriter for so many hours or week on your book over a course of a few months.
If you are comfortable working in this manner or the ghostwriter of your choice works this way, then go for it. But if it doesn’t suit your budget, talk to your ghostwriter and see if they would work in other ways to get paid their fees.
By The Word/Page– Some ghostwriters work in this manner and charge per word per page. For example, you could contract your ghostwriter to write 250 words per page for X amount per page. The general rate of pay per page is $25.00 per page and up. Some top ghostwriters charge $50-$75.00 per page. When looking for a ghostwriter always ask about this method and get upfront the charge per word or per page. Get it in writing what they agree upon so there aren’t any surprises.
By The Project– This method is my favorite and most ghostwriters fall under this category. Writing a book on a flat rate or one project fee is an excellent way to get your book written and help your budget in the cost of having it done. The projected cost is detailed upfront and agreed upon, put in writing and then the payment schedule is worked out the best way to suit your budget. This way you know every month what you will pay and the ghostwriter and can settle in as well and write your book without the worry of billing per hour or per page.
Picking your ghostwriter to write your book is a big step, but even bigger is determining how to fit the cost into our budget. Choose and always go with what works best for you. Your book, your life and your budget will thank you.