Is there a way to split the difference? Like, think of the first Matrix movie. It worked fine on its own, but also left open the possibility for a sequel. I read somewhere that the creators did this on purpose, so they'd be fine either way.
For my next book (meaning the one after I finish this), I'm writing a standalone. Or, at the very least, I'm writing a book that could be a standalone. There are pros and cons to each approach.
- Benefits of a Series: If you have a series, you can really build momentum off each book and maximize your promo-investment, because you basically promote the heck out of book #1 and let the writing/story carry your audience into the next book(s). If a series hits, you can make a ton of money.
- Benefits of a Standalone: Standalones are more popular at the moment, and they offer a good chance to find new readers. Plus, each one succeeds or fails on its own merit.
- Downsides of a Series: If you commit to a series, and the first one has lackluster sales, you're between a rock and a hard place. Once you have a certain number of readers, it becomes increasingly hard to abandon a story that isn't working. Plus, series books seem to be out of favor, particularly in romance. This is particularly true if the books feature the same couple in multiple books. If a series doesn't hit, you can lose a ton of time, because you're writing books for a limited audience, meaning fans of book#1.
- Downsides of a Standalone: They're more expensive to advertise, because you're advertising for Book#1 and there's no book #2. In contrast, if you're a strong writer and have a series, you can often afford to lose money advertising book#1, because you'll make it up on sales of book#2. This isn't the case with standalone books.
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