In the world of self-publishing, I’m always watching for stories I can share to help emphasize not only how much $$ we SAVE our clients . . . but also how much $$ we can help them MAKE.
It all started last Friday when I took a leap of faith and found myself on an airplane to Atlanta for the Spirit of Women Conference. My mentor, Monica Shah, was speaking and several of her “mentees”, showed up, shared rooms and offered support by just being there. I was prepared to strengthen bonds, meet new people, attract new clients . . . and expand my sphere of influence.
Able to use my plethora of Southwest Airline “points”, I boarded the flight early and headed for the first available window seat I see. I’m joined by a woman, in my age range, who sits in the aisle seat, and we joked about the “luck” of the person who gets to sit between two “women of a certain age”. Shortly thereafter, we are joined by another woman (same age group) and our row is complete.
I’m not one of those airline “talkers”, and typically prefer to watch the clouds, and occasionally pull out my i-Phone and select an e-book to read. I offer an initial smile, say “hi”, and get back to my reading.
As the pilot announces we are preparing to land, I ask the woman next to me if she is from STL, and where she is headed. We talked about what she did for a living, and she, in turn, begins to ask me the same questions. LO AND BEHOLD. She and I had a phone conversation about 18 months ago regarding publishing her book, and she chose to go with an independent “textbook” publisher out of England. She proceeded to tell me what she has earned (or NOT earned) in royalties from the sale of over 1,000 books.
So, I get to my hotel, looked up her publisher online, and I did the math.
And I had one of my associates check MY math (she’s a CPA) . . .
FOR THE EXACT SAME BOOK, I’ve outlined two very different profit structures, below . . . The one on the left is the Independent Publisher she chose. The bullets on the right show her profit margin if she had let us mentor her through the self-publishing process. (ALSO, please note, I would never have advised her to price a 166-page black-and-white paperback book at $34.95 retail.)
In researching the textbook publisher, I did not have the details of her contract, so I used the publisher’s minimum fee for the example above. Not only did this author possibly PAY more-than-twice upfront than if she had let us help her, but she PROFITS less $$ with each sale of her books (ultimately taking her longer to recoup her investment).
MY LESSON LEARNED? I trusted my instinct, took a leap of faith, and got on that plane not knowing WHY I needed to go to Atlanta. In the three days since i’ve been back home, I’ve already had two sales conversations with people I met in Atlanta.
AND I heard a fantastic “buyer beware” story I can share with authors who may be considering working with an independent publisher, advising them to:
- Check references.
- Don’t sign a contract until you talk with a professional publishing consultant (like me – I’ve read many publishing contracts and can point out questions you need to be asking). I’m happy to read your contract and offer an opinion.
- Trust your instinct and follow your gut. If it sounds confusing, it probably is worth walking away.
Do what you must, but always feel free to give me a call to talk through your options. I’m happy to help you make an educated decision, even if you end up working with someone else (although I’d rather you work with us!).