What's wrong with traditional publishing and how to save it

So as you no doubt can tell from my lack of posts I'm REALLY REALLY busy with some projects I'm trying to get out for X-mas buying. But posts elsewhere on the web is making me weigh in on something.

I've found myself in the unique position of defending traditional publishing lately. Mainly because of the absolutely wonderful job that Orbit has done rolling out my husband's Riyria Revelations books. I'll admit I expected the worst (too many war-weary veterans whispered in my ear to tell me to "be afraid...be very very afraid"), but my pleasure is not just a matter of them jumping over a low expectation bar. They are smart, savvy, hardworking and I'm such a perfectionist that I'm usually very critical so if I say they are doing "things right" they are exceptional.

I do want to circle back to what they have done someday as there are things I've learned from them that other authors can benefit from but that's for another day.

The real reason I'm here has to do with a comment made by Barry Eisler on Joe's Blog. He asked...

"If there's a better way than Amazon to reform New York’s previously unassailable quasi-monopoly and all the suboptimal business practices the monopoly has enabled, what is it?"

And later went on to say

"But if you accept my "Suboptimal New York business practices are the result of a lack of competition" premise, then what I'd like to hear is your solution for getting New York to improve."

Well since I run a publishing company and I have a MUCH different model than any of the others I would like to address Barry's Question.

The problem with the current model is not one of of "lack of competition" it is because it is based on a "venture-capital" model. I talked about this a bit in my previous post but let me explain further.

In venture capital the "investor" is taking a HUGE risk. They are putting a great deal of money on the line and know that there is a pretty good chance that they will lose some or all of it. They usually will do several projects expecting some percentage to fail and will take a large cut on the ones that succeed to help offset. I don't begrudge the "bigger cut" after all he who bears the greatest risk should get the greatest reward.

Personally, from a business perspective I believe in a partnership model. Both parties invest something (sometimes it's money, sometimes it's time) and they each bring their talents, intelligence, experience to try apply these attributes to make the project as successful as possible. If they are good at what they do - there is profit and they both win. If not, there is failure and they each share the pain.

In the "old book business" with no ebooks, brick and mortar stores, large print runs, high advances, warehousing fees the only system available was venture-capital. But in the "new book business" we have print-on-demand and ebooks and companies, like mine, are being run out of people's homes rather than high priced New York offices. (I think many people working in those offfice would prefer to telecommute rather than brave the traffic/subway but that's another story).

Each book I put out from Ridan costs me a ton in "sweat equity" (my time, intelligence, and experience) but very little in out of pocket money (Create Space setup fees, ISBN purchase). Covers are done by my husband, editing and formatting by myself, interns, and relatively inexpensive freelancers. A Ridan book is profitable after just a few sales. And from that point out it's all "gravy" as it were.

Ridan pays higher than average royalty fees. The standard contract is a 70/30 share (70% to author 30% to Ridan) since I consider the author has more "sweat equity" put into the project than I will.

I don't "lock in" my authors. They can leave anytime they want...because I don't have that big capital investment this is possible. My thought process is if they like what I'm doing - they'll stay and not begrudge me my cut. If they don't then they have every right to find a better way to go. Could I put in a lot of work just to have someone leave and then I'm left with nothing? Sure...but it's a risk I'm willing to take. And so far no author has ever left Ridan so it is a moot point.

I don't offer advances. This would seem like a negative from the author's perspective but if I did then I would have to change the split % and force them to stay with me until the advance is paid back - it breaks the model so I don't do it.

Ridan's model is good for me, good for the authors, and ultimately good for readers as I can bring in new talent with little fear of failure. I can also bring back their favorite out of print titles such as Joe Haldeman's Forever War or A.C. Crispin's Starbridge series because of the large width of virtual shelf space.

So there you have it - my solution to how to save publishing. If more presses adopted such a model I think it would benefit all parties involved.

What do you think?

Change is never easy...but usually a good thing

Sorry, I've been so "quiet" lately guys. There have been several contributing factors: Extended tax return due on Oct 15. Trips to New York for Self Publishing Business Expo and to San Diego for World Fantasy Convention. End of the quarter and having to get royalty statements and checks out (some VERY nice income coming to Ridan author's - yeah that makes me happy). And most importantly being heads down on trying to get a number of titles out for the X-mas season. But there is a topic that is flaming hot right now so I'll take just a few minutes to comment on it.

There have been a number of recent posts about authors and the choices they are making. In general it arises from the push/pull between those staying with traditional publishing and those who evangelize self-publishing. In particular there were these posts:

• Barry Eisler on Joe Konrath's site: Where he speaks about the Stockholm Syndrome.
  
  
• Michael Stackpole's House Slaves vs. Spartacus post: Published back in May but mentioned in Barry's post so it's getting some recent notice.
  
  
• Micheal Stackpole's Degrees of Slavery post: which discusses how current industry practices and contract clauses put authors into a life of indentured servitude as they are compensated on "future earning potential"
  
  
• K.W. Jeter's: Mike Stackpole knows what he's talking about post: Where he speaks about how his eyes have been opened.

The best thing that happened to me while at WFC was a patio conversation with industry legends such as Stackpole and Jeter discussing the advent of ebooks and the changes occurring in the publishing business. It was not overlooked by anyone at WFC that while NONE of the programming covered either of these topics it seemed to be the subject of every hallway exchange or dinner conversation where authors gathered.

It was a surreal experience to be "the veteran," having been involved in indie publishing since 2007, (a lifetime in the compressed world of the fast moving changes) when surrounded famous authors who have sold millions of books, been on the New York Times Bestsellers list and are regarded as founders of movements (such as Jeter is to Steampunk). Both Stackpole and Jeter have put up some self-publishing titles, but my little unknowns (Nathan Lowell, Marshall Thomas, Leslie Ann Moore, Michael J. Sullivan) have pulled in impressive sales that (I would venture to guess) have eclipsed their sales. And my one peer of theirs, Joe Haldeman's Forever war sold 7,100 copies in October and as it is is ranked #1 and #2 on the Amazon bestseller lists I'll believe Jeter when he says that The Forever War is the poster child for "backlists done right".

As has happened in the past...and will happen again. The rhetoric is getting pretty heated. I actually like that. It shows passion, and those without passion are missing out on both the joy and the pain that strong emotions brings.

As frequent visitors to this site know...I'm a proponent of authors...all authors and helping them to choose the path that is right for them. Like Michael Stackpole, I want first and foremost for them to be educated on the choices and make informed decisions...and that's the beauty of the time we are living in now...there ARE CHOICES!!

Draconian publishing contracts are nothing new...and I'll even defend the publishers a bit here by saying they are not done in an Snidely Whiplash, evil-for-evil's sake. They are a result of a flawed system. The traditional publishing model mimics that of venture capital investing. The publishers pony up huge sums of cash (for advances, print runs), and have high overhead costs (large corporate offices, well paid professionals, warehousing fees, money set aside for returns) and must make additional investments for promotion (co-op fees, catalog printing, ARC distribution). In such an environment they impose "controls" to help ensure a profit and they must take a proportionally larger cut because most venture capital ventures fail so the "winners" have to "cover" the losers.

But change is coming...the free market will win out. Even those that are published traditionally will see better contracts because publishers will have to change in order to keep and retain top talent. Don't believe me? Well I can offer up my husband's own contract as living proof. He would never have signed the first contract we received, and because he was already making good money in self-publishing he had the freedom to walk away if it wasn't changed. This is an option that would not have existed for him 3 - 5 years ago...and guess what...it was changed and as I said to many at the WFC convention - I can find no fault with how Michael has been treated by his big-six publisher.

Want another example? Look at all the people being signed by Amazon's new publishing companies: Thomas and Mercer, 47 North, Amazon Encore, Montlake, and on and on. Many who are going that route have their eyes wide open to the pluses and minuses of both paradigm (traditional and self) and by putting pen to paper are endorsing a "new model". I only wish that Amazon would be more transparent about their contracts - they have a very restrictive NDA and I don't see why there shouldn't be transparency. These must be more "author friendly" for the people who are signing them to do so.

So, I guess my message for today is the same I've said many times before. There has never been a better time than now to be an author. Choices abound...opportunities exist. Go out and grab hold of your future - you have more power now than you ever had when traditional publishing was the only game in town.

Goodreads 201: Part 4 - Introduction emails (content)

Okay, today I'm going to wrap up how to direct message people who have joined a group that you are also a member of. This presupposes a few things (covered in past posts)

• You've updated your profile to make it look good
  
  
• You've worked on your headline and short blurb
  
  
• You've participated (in a friendly - not look at me look at me) way on the forum so you don't look like a drive buy shooter.
  
  
• You have a place for people to read samples (preferably your website - so you can get them to it as well.
  
  
• You have some nice covers and an image that you can put in the message (i.e. the images is on the internet somewhere such that you can get a URL link to it.

As I mentioned in Part 3 I have different messages in a file that I copy/paste from. Now...even though you are copy/pasting you still want to make it personal. At a minimum you should start by typing: Hey person's name, before the paste. But I like to go further and if possible mention something they said in their welcome post - usually they'll mention some authors they like so you can either a) agree that xyz is one of your favorites or b) say I've never tried xyz thanks for letting me know I'll check them out. Other topics that are could to use is comments on nice Avatars, or if they live somewhere you've always wanted to visit (my hot spot is Australia / New Zealand) you can work that in to.

The next important thing...don't sound needy...or desperate...don't beg...don't whimper. Here is what you have to think of as you are crafting your message. You are on a reader site. These people WANT to find new authors to fall in love with. Your attitude should be one of confidence (but not arrogance). You are here to help them. If you've come from the "query world" think about how you would approach an agent to look at your work.

Okay...so you are in the "welcome thread" you see someone introducing themselves - Click on their picture. Then click on "compare books" to see if they have any of your books on their shelves. You'll see one of 4 things:

• No books - this will happen a lot in the beginning.
• Books - unread (now's your chance to get them to "move it up on their TBR pile)
• Books - read and rated (Respond to anyone with a 3 or better) 1's and 2's you can just move on - or try an advanced technique that I'll cover another day
• Books - read, rated, and reviewed (3 or better)

NO BOOKS
A typical post I suggest for someone with no books on the shelf:

Hey Susan,
I saw your post in the fantasy group. It's always good to meet people who like reading fantasy! I'm glad you like Rothfuss, I've really enjoyed the first two books. I'm also an author, but don't worry I'm not here to pressure you to buy my books. I just wanted to introduce them and you can decide for yourself if you are interested in finding out more.
RIYRIA REVELATIONS: Unlikely Heroes...Classic Adventure
There's no ancient evil to destroy or orphan destined for greatness, just two thieves in the wrong place at the wrong time. Royce Melborn, a cynical thief, and his ex-mercenary partner, Hadrian Blackwater, make a living performing dangerous assignments for conspiring nobles until they are framed for the murder of the king.





I've been very happy with the reception the series has received here on goodreads (2300+ ratings and 500+ reviews) and, if you do get a chance to "check them out", I would love to know what you think...good, bad, or indifferent any and all feedback is welcome (much preferable to the crickets chirp).

Well I've rambled enough. Again, welcome to the group - it's a great place to find new things to read.

Michael: [book:Theft of Swords|10790290] | [book:Rise of Empire|11773712] | [book:Heir of Novron|11100431] | [book:The Viscount and the Witch|12746970]

So let's break it down:

• Personal introduction by name
• Welcome to the group
• Something personal about their post
• A disclaimer about being an author - but no pressure
• Book Section: Headline, Blurb, Covers, Sample button
• Some form of "validation" - The idea here is to give people a reason to believe you are "worth their time.
  
• Invitation for them to reach out to you - VERY important remember you want to make connections - make it two-way.
• Closing bringing it back to your welcome
• Signature that has links to your books in it. (I used the "no cover" version as the graphics are already in the message.

UNREAD BOOK
Goodreads people have HUGE TBR piles. But they are usually easily swayed by interaction to move your book up on the list - especially when in competition with some "big guy" that will never have that "personal touch" with them. Use this to your advantage.

Hey Susan,
I saw your post in the fantasy group. It's always good to meet people who like reading fantasy! I'm glad you like Rothfuss, I've really enjoyed the first two books. I hope you don't mind but I took a peek on your shelves and was happy to find out you already have my book listed--how cool is that! I'm not here to pressure you to buy my books (that's just not my style). I just wanted to thank you for your interest and to give you a link where you can read a sample.



If you're like me your TBR is large (and growing all the time but that's a good thing about goodreads) so here's a bit about my book as a reminder:

RIYRIA REVELATIONS: Unlikely Heroes...Classic Adventure
There's no ancient evil to destroy or orphan destined for greatness, just two thieves in the wrong place at the wrong time. Royce Melborn, a cynical thief, and his ex-mercenary partner, Hadrian Blackwater, make a living performing dangerous assignments for conspiring nobles until they are framed for the murder of the king.

Well I've rambled enough if you do get a chance to "check them out", I would love to know what you think...good, bad, or indifferent any and all feedback is welcome (much preferable to the crickets chirp). Again, thanks for the interest in my book and welcome to the group - it's a great place to find new things to read.

Michael
[bookcover:Theft of Swords|10790290] [bookcover:Rise of Empire|11773712] [bookcover:Heir of Novron|11100431] [bookcover:The Viscount and the Witch|12746970]

READ BOOK - RATING BUT NO REVIEW
You've found someone you want to keep a hold of and get a direct connection with them. I would send them a message and immediately after do a "friend request" and in the message of the friend request say something like:I'm so glad you read and liked my book, Theft of Swords.

If they friend you back (which they usually will) you'll have their email address (if they have made it public) - PURE GOLD. Respond back when you see the "friend accepted" notice and ask them if you could add them to your email distribution list to notify them of upcoming releases or giveaways. Again they'll usually say yes - now you have a way to connect them and as long as you keep writing well, they'll buy each time you come out with a new book. -- Plus you can get them to buy direct from you where you get to keep most of the profit. Okay this whole email and direct buying is a whole post in and of itself, which we'll cover more later but getting back to the intro email: Here's how I word it:

Hey Susan,
I saw your post in the fantasy group. It's always good to meet people who like reading fantasy! I'm glad you like Rothfuss, I've really enjoyed the first two books. I hope you don't mind but I took a peek on your shelves and was happy to find that you read my book, Theft of Swords--how cool is that!

I'm dying for a little detail about your impressions. Would you mind adding a little review to your rating to let me know what you thought? It doesn't have to be a full blown review just a few sentences would be great. And feel free to tell me the good and the bad (this business makes tough skins and all I ask if is honest feedback). Writing can be such solitary work sometimes so hearing from people is what I live for. If you are uncomfortable doing this publicly, then just send me a message.

Well I've rambled enough. Again, thanks for the interest in my book and welcome to the group - it's a great place to find new things to read.

Michael
[bookcover:Theft of Swords|10790290] [bookcover:Rise of Empire|11773712] [bookcover:Heir of Novron|11100431] [bookcover:The Viscount and the Witch|12746970]

P.S. As you can see from my signature I've written some other books as well. If you would like to learn more about any of them and/or read a sample you can from here.

I think about goodreads as levels. First you want them to shelve you, then read, then rate, and finally review. The more reviews you have the more credibility you'll get so this is a way to turn a rate into a review. Not to mention...many readers will be so thrilled that an author took time to reach out to them that they'll talk about you with their other goodreads friends = word of mouth which is the end game.

The P.S. at the bottom is optional of course depending on whether they know (as evidence by their shelf) you can personalize this a bit as well. Such as...I saw that you read the first two books in the Riyria Revelations did you know I've released another 3? You can find out more..blah blah blah.


READ BOOK - RATING AND REVIEW
Okay this is the mother load. You don't have to sell this person anything. What you need to do is make a good impression on them and hope to turn them into a word-of-mouth generating machine. This is a time to express gratitude and let them get to know you a bit.

Goodreads has an ability for people to post on other's reviews so the first thing you should do is go out and thank them for the review. Also, just as before be sure to send them a friend request after you send the intro email.

Hey Susan,
I saw your post in the fantasy group. It's always good to meet people who like reading fantasy! I'm glad you like Rothfuss, I've really enjoyed the first two books. I hope you don't mind but I took a peek on your shelves and was happy to find that you reviewed my book, Theft of Swords.

I just wanted to thank you for taking the time to do this. It's difficult sometimes when you are like me and just starting out and no one knows who I am, so by providing some independent feedback, others will be more likely to take a chance.

Writing is not something I do for the money...I do it because I can't stop the stories from filling my head and sharing them with others is how I get rewarded. I don't know if readers really know just how much of a kick we get out of reading reviews. It makes the long nights worth it and can take the sting off of the inevitable bad review.

Well I've rambled enough. Again, thank you for letting me know that my writing is not going out to a vacuum. I'm glad you've found he group - it's a great place to find new things to read.

Michael
[bookcover:Theft of Swords|10790290] [bookcover:Rise of Empire|11773712] [bookcover:Heir of Novron|11100431] [bookcover:The Viscount and the Witch|12746970]

P.S. If you'd like to be added to my email distribution list to be notified of future releases and/or giveaways please send me your email.

Something I should note about all of these messages. My goal is to turn these people from a casual reader into a fan - and the way you know you've done this is that they have provided you their email (for future notifications) and by having ongoing dialogs with them (both personally and through the group). Again I'll discuss this more in future posts - we've already covered a lot today.

Whew, this is a long post but I think you'll find it helpful.

It's all about distribution...stupid

Okay, so I'm sorry to be so harsh in my intro but I get angry when I see author's setting themselves up to fail. I just ran into two people on facebook and neither of them were in any of the main distribution networks. How is this possible? I know (or hope) that most people here already know all that I'm about to tell them. But in case there are a few people here that are just getting started please listen up.

The first guy mentioned "I just hired a publicist for my book xyz just the latest attempt in getting my writing noticed." My first thought was...did this guy just attempt to run before walking...So I went to Amazon with an intent to find what his ranking was...and it wasn't there. Nor was it on B&N! Further research showed in ONLY available on LuLu and for $17.99. Really? Seriously? So you've spent money to HIRE a publicist and your books aren't even available for purchase (lulu is not enough) and your price is WAY TO HIGH!!

The second guy announced "I've finally taken the plunge and released an ebook". Again I went out to the usual suspects and nothing...so I wrote to him (Maybe my search wasn't very good). "Are you on Amazon, B&N, ibookstore?" His response ... "Should be; I know Smashwords distributes to Amazon, B&N, Sony and Apple, among others." My thougths...So you're making an announcement before you have verified live links? UGHH!! Work with me people.

Okay rant over lets get some real information going.

#1 - If you do nothing else put a kindle version of your book up. It is free. Formatting takes just a little bit of time to learn and if you're not here - you're not really publishing your work. If you don't know how to format...there are many books on this (some free some $0.99 - $2.99) It really is not rocket science.

#2 - Once you have the kindle formatted use Calibre (free software) and make an .epub from it. Post it to B&N using PubIt...Also free and easy to do.

#3 - Open your kindle version in a browser (it is essentially just .html which is read by browsers and copy paste into word (don't use your original word file -as it will have lots of "overhead" you don't want or need for it's own formatting. Then follow the layout guidelines at Smashwords to format it the way their "meat grinder' wants it.

#4 - Post to Smashwords and go to their distribution area and turn off: Kindle, B&N (since you'll do direct) and turn on ibookstore, kobo, diesel, etc.

#5 - Watch your smashwords to see if it gets kicked out by their meatgrinder - if so make the changes they recommend then resubmit.

#6 - Wait until you see links available for your books at Kindle & B&N and then...you can announce to people.

Okay I'm back to work on other things. I plan to continue the "Goodreads thing" tomorrow. This just got me hot enough under the collar that I had to post.