Considering starting my own publishing firm...
After listening to the anguish and turmoil of my fellow writers
for a while now, I am beginning to consider the option of
starting my own small-scale publishing firm.
I have had the opportunity to read a number of perfectly
publishable books over the past year, and yet publishers turned
these authors down, including me!
Now I'm not disillusioned, I know exactly how difficult this
will be. It will require a great amount of time and effort to set
up, it will be a costly venture and may well fall at the first
hurdle!
However, I am between jobs at the moment, I have nothing
better to do, and who better to work for than myself? I have some
knowledge of business and some friends who have started
their own business from scratch so I can always call on them for
advice. I also have a friend who has experience of
supporting up-and-coming businesses from when she worked in PR,
so I'm not really on my own here.
Like I said it's just a thought at the moment and nothing is set
in stone.
Does anyone have any thoughts on this?
Be as blunt as you want - If you think it is a stupid idea, tell
me! If you have some advice or know any useful sites,
organisations or anything that can help me, I'm all ears.
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34 Comments
I have to admit that it does seem to have its advantages, although I think I'll be responsible to a lot more than the dreaded tax man if I ever get any clients!
Thankyou for the encouragement, I will definitely have to research every aspect of this venture before starting out. I would hate to think how much money I stand to lose if it all goes down the pan due to me overlooking something!
Like you say, if it doesn't work then at least I've had a go. If it does work, I might be fortunate enough to publish some of the works-in-progress of our fellow Cloudies.
It will have to be something I consider when I'm starting out. I'd like to think I would take on many authors that others have rejected, but in doing so it might attach a negative stigma to my business...
I have a lot to think about, but it's a challenge and something I think I'll enjoy
Anyone can publish a book nowadays - it's whether its a success that matters. How would you go about making the books you publish successful?
Just a few thoughts...hope it helps
Islander - again it's something that I must consider. One of the few things I have been blessed with is the gift of the gab. I find it easy to network with people and build a reliale list of contacts. When I wad a musician, I developed loads of relationships with bars/venues and other musicians all over the country which greatly benefited the bands I played in. I feel in this role I could do the same, which would make for a good agency. Having said that however, I think the work of an agent would be a lot more difficult. I would be responsible for editing (or commissioning an outside sorce to edit) manuscripts to a high standard to be submitted to publishers. If I was the publisher itself though, I could control the standard of what is published. I'm not saying I would publish poorly constructed books full of errors, but I would be able to set my own standard of work.
Hope everything works out for you, although you can always get in on this publishing lark - I could do with the company ha ha!
Do you have any contacts in publishing, so they can give you some idea of what is involved and, preferably, allow you to see how the company works from the inside? If you set up your own company you will not only want to do your best to make the venture a success for yourself but also to do your best for your authors, who will be placing their trust and their dreams in you. You have probably already drawn up the following list of essential publishing knowledge yourself but I thought I'd mention it anyway. I'm sure there are other factors to consider as well, but this is what I have thought of immediately.
Anyone setting up a publishing company needs to know:
* The fine print of contracts and how to write them or adapt existing (and approved) publishing contracts so they are acceptable to the authors and they don't contain any legal loopholes that could cause problems later on
* How to calculate and distribute royalties on time, twice a year (failure to do so can lead to a black mark against a publisher's name, so authors will avoid them - I know of some publishers like this!)
* How to decide what sort of deal you will be offering your authors and why - advance and royalty, flat fee or royalty only?
* How to assess manuscripts for their saleability (this is not always the same as simply liking them - there really is a difference)
* How to edit and proofread the manuscripts that you are going to publish (I saw a comment earlier that this is done by the agent but it isn't, it's done by the publisher - although on rare occasions an agent may suggest that an author needs editorial help in preparing their manuscript for delivery to the publisher). It is essential, as you know, that manuscripts are edited and proofed properly and professionally, so this will mean paying a professional proofreader and a professional copyeditor to do the work for you
* How to commission and design covers that will sell the books (because covers *do* sell books and a bad cover can scuttle a book's chances)
* How to send out the proofs to the author and negotiate any changes that one of you wants to make but the other doesn't
* How to check that the designer has done everything he/she is supposed to do for the book and hasn't accidentally left out anything important or got something wrong (very serious mistakes can mean the entire print run has to be pulped, if it's a printed book)
* How to decide whether to publish ebooks or go into traditional publishing (each of which require their own particular set of skills)
* How to write enticing blurb that will sell each book
* How to advertise the books in the trade, and how to do all the other tasks involved in getting publicity
* How to work out a fair division of the profits so your authors will want to be published by you again
* If you are taking the traditional route, you need to find printers and distributors. They will charge you more than they would established companies because you will be an unknown quantity so they believe that you are a greater financial risk - because, sadly, many small publishers go under for all manner of reasons, leaving massive debts. One major printer was recently hit very badly by this.
In regards to calculating royalities and drawing up contracts, I worked in finance for seven years, three years within the NHS and four for a private company. I've developed a wide range of knowledge of financial aspects including book keeping, budget planning, and distribution of wages/salaries - something which I believe can help me greatly.
I have a few friends working in visual design and that sort of thing who are more than happy to produce book covers free of charge as long as their work is acknowledged. Providing I give them a set of guidelines to adhere to, they will also format the book in the correct manner. I am aware that friendships can change etc and they have already confirmed that they would sign a contract prior to carrying out the work.
I'll need to do research into the formatting rules and procedures, but it shouldn't be too hard to find.
As a struggling writer myself, I would not feel comfortable editing and correcting someone else's MS so I would of course pay a professional proofreader. This is something I am going to have to include when working out a budgeting strategy and deciding royalty rates, commissions and everything else involved.
The advertising aspect shouldn't be a problem. I have a friend who worked in PR who has already started introducing me to her old contacts who can be of help. With the combined marketing efforts of both myself, my friend and the author, I think I have the marketing aspect covered.
I admit, the traditional route will be a lot more tricky to break into, something I have yet to consider. In the next few weeks I'll have to do tons of research into the topic in order to get a clearer understanding.
I like your idea about finding out how different companies work. I don't have any contacts working within a publishing firm, as of yet, but I'll look into that and see what I can do.
"I would not feel comfortable editing and correcting someone else's MS so I would of course pay a professional proofreader. "
Sounds like a plan... although I don't know if you're aware of just how many stages a manuscript goes through at a publisher? Leaving aside any editorial help the MS had from an agent before it arrived, the publisher's editor would reckon to do:
- structural edit
- line edit
which are essentially separate processes, although they are sometimes done together if the book really, truly only needs a lick and a polish - but that's much rarer than you'd think
and either pay for or do herself:
- copy-edit
- proof read (the author to do as well) first proof
- proof read second proof
Structural edit and line edit would each cost about what WW would charge for that kind of work - line-editing in particular is very slow - and copy-editing is very expensive because good copy-editors are real specialists, plus they can only do about 6 or 7 pages an hour, depending on the book.
Thanks for the advice. I didn't know how many stages were involved in the editing process, so that's a great help. I'll have to consider these points when, and if, I get started.
I am going to have to look over my old contacts. I'm almost certain a friend of mine got took on by a publisher down in London a few years ago (to work, not as an author) If that's the case I'll have to sweet talk her in giving me a look round and anything else I'll need.
I like your dream, drive and ambition Erebus.
It's just our dreams...unpublished authors...that need fufilling now!
When you get set up let me know, I'll send you my MS...if no-one has decided to give me a go (you never know right...lol) :)
I do the admin for my writers' group and I get several emails a week from new publishers who deny they are vanity publishers but, in reality, by charging authors for services, that is what they are. In the vast majority of cases, the amount they charge is a great deal more than the author would pay if they self-published, even if they had their book professionally edited and paid for a cover design and ISBN.
You would also need to think about who takes the publishing rights. Many of these companies say the author retains the copyright, but the company has publishing rights. If the author wants to withdraw for any reason, there is often a charge.
All in all, lots to think about. Let us know where this goes. It will be an interesting journey to follow. Good luck!
Islander - I would be more than willing to take a look at your MS once I'm up and running. You never I may be your publisher one day ha ha!
Debi - I would never charge the author for anything untoward - As you say that would make me a vanity publisher. An easy way to make a quick buck, but being a writer myself I know exactly how annoying this would be. If I was to invest in a book, I would have to be sure it would sell and would obviously have to ensure I get my money back in order for it to work. I see this as a gamble on my part. There's no reason the author should have to suffer because of my misjudgement. If I put money into the book I will work flat out until I get a return on my investment.
Sirtanicmills - I haven't really cracked the traditional publishing route yet, so my answer would have to be quite limited. Basically, if I was in a position to invest in a book to be printed, I would have researched market trends and have developed an awareness of what will sell and what won't. If I went down this road I would have developed a network of contacts who could get the books on the shelves before I started the company. This will be a lot of work and again something I will have to consider, but rest assured if I become a traditional publisher I will have developed necessary contacts and researched every aspect prior to this
One extremely well-regarded small independent publisher, mostly publishing books which are not ever going to be widely stocked by the bookshops, has an author whose work he loves. It has sold no copies. None. The original print-run is sitting in the warehouse. That same publisher has several authors whose sales are in the tens. That's the reality.
I think what I might do is perform a test run. If I can publish one book, possibly one of my own, and develop sufficient hype using my newfound contacts and marketing experience, I could get a better understanding as to whether or not it is achievable.
You said: 'If I was to invest in a book, I would have to be sure it would sell and would obviously have to ensure I get my money back in order for it to work.' That's the same criteria any ethical publisher would state. I have to say that if the book really had that much potential, it would still be better for an author to first try the larger publishers. But, as you've said, there are good books that don't get published. In the main though, that's precisely the reason ie that the publishers didn't think they could sell enough copies to make them viable.
Having said all this, I hope you know that probably every single person here would love you to make this work!
Like I said on my original note - if I did not rate the chance of success I would publish it myself. Just because it is easy to publish a book nowadays (e-book). Personally, I don't want to publish and be lost in the abyss...I would love to make a success of the book I have been working so hard to polish. And that, I am sure, is the same for many authors on this site.
Writing is an obsession, an art - the artist is not always the best person to evaluate their own work. Only those with experience understand the nature of the beast...saying that I have read that many self published authors have made a success of the book - so the traditional route is not the only option.
Either way, good luck to you Erebus - from a seed grows the tree!
However, I recently read a post by a fellow cloud member (I can't remember who... Oops) In it, he mentioned the countless books rejected by publishers, yet still have a high level of readers willing to buy them. The genres mentioned were horror/fantasy and sci-fi.
Now I'm not claiming to be better than the publishers who reject these novels. Chances are they have a good reason for doing so. But if I focus on these types of books, then I can publish great books by great authors who have been overlooked merely because there is a stigma attached to their preferred genre. Don't get me wrong, I'm sure if someone submitted a spectacular horror novel, some publisher will snap them up straight away. But there are so many books being rejected because they don't conform to the norms of the publishing market. I believe it's these books that will help get my business off the ground (if I do actually go ahead with it) People still want to read these genres despite what major publishers think.
The same thought came into my mind. I've always known I would self-publish because horror is so hard to be published in. It was that idea that led to this one!
Thanks for your encouragement - it helps a lot :-)
I really hope you don't perceive all this as trying to put you off. Anyone seeking an alternative way to get good books into print should be applauded IMO.
There will obviously be a lot of thought and planning and more planning and studying up on different areas etc. But you seem to have good reason to do it. I wish you all the best with your venture, Erebus. You don't know unless you try and all that ... :)
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