Serious question - Writers Forum

Mike C · 12-28-2005, 09:36 AM

I've been musing this one for a while. Let me ask you this:

How much would you like to see a new small press publisher of the traditional kind that pays a small advance to the author, prints proper books, has distribution though bookstores, and pays authors royalties?

Would you like it enough to invest either time, money or both in it?

Having invested, how pissed off would you be if your novel got rejected by it?

Mike C · 12-28-2005, 09:37 AM

PS The above means NOT POD, and NOT vanity. good old-fashioned, moneyy flowing to author publishing.

Verago · 12-28-2005, 10:04 AM

I'd be willing to invest time and money in it.
And I'd be fairly pissed if my novel didn't get in, mostly because it would've been distributed through bookstores and I would've gotten royalties...

What're you thinking, Mike C?

Nickie · 12-28-2005, 10:32 AM

Mike, I don't know where you are in the business of writing and publishing, but as both a writer and a-soon-to-be publisher, I can assure you that being a small pubisher is not very easy. Okay, I want to do it properly; I am going to pay my authors a nice percentage in royalties, but as I'm just starting up the business I can't pay advances to unknown authors yet.
And as for the contacts with bookstores, that's a problem as well. In my country one chain of bookstores (with their own publishing house) has the monopoly on sales through their stores. It's extremely difficult to place your books there. And the indenpendent bookstores are disappearing one by one...
So for the time being, I'll have to stick to selling over the internet.

Nickie

Mike C · 12-28-2005, 11:26 AM

Quote:

Originally Posted by Verago

I'd be willing to invest time and money in it.
And I'd be fairly pissed if my novel didn't get in, mostly because it would've been distributed through bookstores and I would've gotten royalties...

What're you thinking, Mike C?

Not sure what I'm thinking, exactly. At least, I know what I'm thinking, but still toying with details.

I guess the pissed part of the question is kind of paramount - if one invested money into a publishing business, would one expect publication to be a part of the payback? Because if one did, the whole idea would be dead in the water. One of the factors that's holding me back is that IF I get involved in publishing, it probably means an end to writing; it would certainly guarantee that I could never publish one of my own books - to do so I think would show a lack of integrity.

Nicky, last time I saw, your operation was just POD under another name, if I remember rightly.

Red_Venus · 12-28-2005, 12:06 PM

Maybe, IF you had to reject a book submitted by an author/investor, you could pay the investor a small percentage return (dividend) quarterly or bi-anually because if his/her investment in your business.

In short, you might be able to work the investor/stockholder angle. (????) I don't know if this would work for the situation you are thinking, but it's my two cents worth.

Mike C · 12-28-2005, 01:43 PM

In honesty my preference would be not to recieve submissions from investors - no falling out that way if rejected, no taint of favoritism if accepted.

Investors would recieve a dividend on share issue if the concern made a profit; they should also consider the fact that there are no guarantees.

So, if you were asked to invest in a risky venture, with no guarantee of a return and no increased chance of publication as a consequence... would you still be in?

mammamaia · 01-01-2006, 01:07 AM

sounds like a no-brainer to me, mike... regardless of whose work they'd publish [or not], it's a risky set-up... who'd be running the publishing end of things?... what's their experience?... how much capital will there be to see things to a successful outcome?... it takes time and much know-how and effort, along with bundles of bucks, to do what you laid out there...

as far as your ms being rejected, wouldn't you expect the company you invested your hard-earned cash in and hope to make a profit from, to be publishing only the most marketable of submitted works?... and, if yours IS that, and is still rejected, what would that say about the expertise of the editorial staff and the company's chances of not meeting an early demise?

if i were you, i'd say 'thanks, but no thanks!'... hugs, maia

Mike C · 01-01-2006, 03:54 AM

Capital is the big problem in any business as you know, Maia, and more businesses fail through under-capilalisation than for any other single reason.

I've been looking into this problem for a couple of years now. Publishing is, potentially, a lucrative business. All you need is one JK Rowling, huh? But it is also fairly high risk if you can't attract quality authors.

And, having found quality authors, they are no good to you if you can't promote the book. And I don't mean setting up a website and hoping for the best, Nickie. Distribution through bookstores is comparatively easy - I have already discussed outline plans with a distributor - but that also is not enough. Books are like any product, they need to be advertised, promoted, sold.

I'm looking at various ways of funding and running such an enterprise. Staffing is not a problem, as I have worked with some great editors and readers over the last few years who are willing to work short term either for love or on reduced rate, and overheads are low because I already have office space I share with another business.

I myself could conceivably sink around $60k into this, and would be looking to match that with a similar amount from investors. For Banks and venture capitalists this is a comparatively high risk venture and their money would be expensive. having writers invest is, on the one hand, a cool idea, but on the other, a potential minefield. I know there are probably a small number of writers who might consider investing as a way of 'buying' publication; sour grapes when they find out they're wrong.

So anyway, this'll probably be another year on the boiler before I make any big decisions, just wanted to float the idea around and see what the feeling was.

PS I already have a cover artist - he did the recent reprint of ray bradbury's books and is a friend of mine. http://www.scobiedesign.co.uk/book.html

journyman161 · 01-01-2006, 04:17 AM

I'm not in the position to invest except perhaps some time & maybe not that, but I would expect decisions to be made on what will sell. If my work wasn't selected i would want to know why but I wouldn't want any special favours that would reduce the effectiveness or profitability of the business.

Publishing books simply because the author has put in time or money will NOT sell them & if you don't sell them you go broke.

Mike C · 01-01-2006, 06:45 AM

Thanks for your input Journeyman; and don't worry, I'm not asking anyone to invest!

An interesting point you make - "If my work wasn't selected i would want to know why"

having worked in a publishing environment where reasonably detailed crits were sent with rejections, I'm totally against them. We found that poor authors regularly submitted second rate work just to get a free crit, and it wasted valuable time.

in the same circumstances again, I would offer only a "yes please", or a "no thank you". Possibly, where work is outstanding, "rewrite chapter 12 and we'll take another look", but no crits or feedback. That sounds harsh, but an author should have already done the work; crits, test readings, rewrites, whatever. A publisher (or agent) should only ever receive work that's the best it can possibly be.

mammamaia · 01-02-2006, 12:43 AM

my best advice would be to court investors who are anything but writers, mike... that way there could be no conflict... having wanna-be-published writers put their money into the venture would be suicidal, imo...

your investors should be there to make money, not to get a foot in the door... and, regardless of best intentions, any writer putting cash into a publishing house is going to expect some sort of quid pro quo, even if only on a subconscious level... that way lies disaster for all involved...

Mike C · 01-02-2006, 03:53 PM

You're right, Maia, unfortunately.

Icywind · 01-02-2006, 07:45 PM

I wouldn't invest my time or money in it.

Since it would be small, and relying on my money as well as other authors...it seems unstable, and if you're a writer that doesn't have many assignments...then you can't afford the risk.

mammamaia · 01-02-2006, 07:45 PM

mike...
sorry 'bout that, amico mio!... it's the bane of my existence--being right most of the time... not 'cause i'm so smart [though i am, of course!], but due to being sure to know whereof i speak, before opening my mouth [or hitting the keys, as the case may be]...

better to dash your hopes now, than your 'brains out' later, eh!?

hugs, m