Brown is Ground

Brown Publishing is going bankrupt, having taken on too much debt during the boom to finance with reduced revenues during the bust.  It cannot even find a buyer for its assets, nor financing for insiders to buy it.  many publishers are in this boat, making space for new companies to move in with no debt and lower costs.

Woods On Publishing

Thomas Woods was a Community College instructor who hit it right with a book, and has been very successful with subsequent offerings.  I place my comments between his article, which can be found at http://www.lewrockwell.com/blog/lewrw/archives/64332.html#more-64332

Nobody Sells “Millions of Copies”

Posted by Thomas Woods on August 25, 2010 11:45 AM

Before I became an author myself, I held an inflated estimate of the number of copies the typical book (bestselling or otherwise) sold.  I also thought the author earned more per book than he really does.  In my experience, the general public shares the misconceptions I once held.

Now for the terrible truth.

Books, says one of my publishers, are some of the hardest things in the world to sell.  Nonfiction books are even worse, of course — next to no one, relatively speaking, reads nonfiction.  It doesn’t help that there were 195,000 distinct titles published in 2005 alone (the latest statistic of which I am aware).  I happen to know of a major publisher all readers of this blog have heard of, which (at the time I heard the statistic) had published 3000 different books in one year.  How many of those sold more than 2000 copies?  About 200.

Books do not sell.

***So much for a publisher's contribution. My book, without a publisher, would rank as a top seller for a publisher, and a perennial seller being available on Amazon.com for 8 years now.***

On top of that, an author with a trade publisher typically earns 15% of the cover price of a hardcover.  Common contractual terms run as follows: 10% for the first 5000 copies, 12.5% for the next 5,000, and15% for all copies thereafter.  Paperback editions earn the author 7.5% of the hardcover price.  That’s before taxes, though one small consolation is that royalty income is not subject to self-employment tax.  It’s also before any agency fees — your literary agent, if you have one, will typically earn 15%.  Mine, who has helped me with several of my titles, earned every penny, but it’s still a deduction from your income.

***If you build your own market through teaching, you need no literary agent... so you keep that money.***

University and academic presses are typically less generous.  Sometimes you are actually expected to prepare your own index, if you don’t want to be docked to have one of their in-house people perform that service.  I did the indexes for a couple of my early titles.  It is an unspeakable task.  Royalties, moreover, typically don’t exceed 10 percent, and usually operate on a sliding scale beginning with 5 percent.

It’s embarrassing to recall, but I remember thinking The Church Confronts Modernity, my book with Columbia University Press, would sell around 10,000-20,000 copies!  After all, I thought, at least that many people would be interested in the subject matter it deals with, so of course it’ll sell that many.  Ahem.

***Yes, that many that are interested, but never that many that will buy.  It is a fascinating ongoing topic, and it would sell perennially if a course were offered on the theme.  To would be teachers:  Prof. Woods is too busy to stake out a claim on this topic on the internet.  Do not be discouraged that he has a book, and a name.  Given his seminal work in this area, a young scholar can come in with confidence and build a franchise on one's own on the topic, on the web.  I bet Prof. Woods would give his blessing, if not lend a hand occassionally.  Competition means "to strive with," not "to fight with."***

My most successful book, The Politically Incorrect Guide to American History (2004), has sold about 170,000 copies so far.  That is a veritable miracle for an unknown author with little access to mass media.  But it’s well below what most people assume I have sold.

***A gold record means a million dollars in sales.  A platinum record means a million copies sold.  If Prof. Woods is getting a royalty of $1.50 a copy, that's a quarter million he earned.  Nothing to sniff at... get excited about smaller numbers!***

Not long ago, someone referred matter-of-factly to the “millions of copies” of Meltdown I must have sold.  Would that it were so.  No one sells millions of copies of a nonfiction title, with a few exceedingly rare exceptions: (1) people with television or radio talk shows, who can promote their books before a huge audience every day; (2) authors whose books are featured on Oprah; and (3) the occasional outlier with a clever or quirky idea, and that attracts a lot of media.

*** As I lay out in my book PERISH YOUR PUBLISHER, returns take those million dollar sales reports down to about half.  the cost is deducted from commissions, and a Glenn Beck or Rush Limbaugh could care less about any loss on the way to the renown of being a million-selling author, the tax write-off alone is gold.  A sitting on Oprah means massive demand for a short time.  Ramping up to sell a few million copies is risky business, and just how many will you sell?  One million?  Three million?  Wrong guesses cost you.  A visit on Oprah may be exciting, but it is likely to be financially disastrous.***

Even with all the attention Meltdown got, it sold about 55,000 copies.  This is astonishingly low to most people, particularly given the ten weeks it spent on the New York Times bestseller list.  But the publishing world, which knows the dreary nonfiction sales figures all too well, was envious of my publisher for having such a big hit during a depressed period for publishing.

***If Woods makes $2.50 a copy royalty on Meltdown, the ten weeks on the best seller list earned him about $140,000.  If he had perished his publisher, he would have earned more in the line of $660,000.  Now this would have taken a bit of packing and shipping on his part, or he could have farmed it out for under $60,000, netting him about a half million more than he has earned.***

Having been doing this for a number of years now, I’ve come to expect sales to be at about this level.  I realize it’s extremely difficult to sell in excess of 50,000 copies of a nonfiction title, which I have so far managed to do three times (my book on the Catholic Church and Western civilization being the third).  But when you tell people the real figures, they are (understandably) stunned and disappointed.  It’s like telling a relative at a family cookout that you were just accepted at the University of Pennsylvania or the University of Chicago.  Someone in the know realizes you’ve just reached a great milestone.  Many average people, on the other hand, figure you just got accepted at a run-of-the-mill school.

***And some of the greats in Economics have been working out of UN Las Vegas, and St. Augustine was Bishop of Hippo, something akin to being Bishop of Rochester. Don't take this simile to heart, wherever you are, you can stake out your claim on the internet.***

Even though nonfiction titles sell fewer copies than you may have thought, they are not for that reason a waste of time, particularly if you derive intellectual pleasure, as I do, from the challenge that comes with writing them.  Writing a book (with a major publisher) can open major print, radio, and television outlets to you and your ideas, thereby giving you a chance to spread your message to a wider audience than just the reading public.  Authors receive speaking invitations that give them the opportunity to reach a broader audience still, while adding to their (erratic) income.  And so on.

*** Teaching on the net and face to face seminars, you'll get all the exposure you can stand, and get paid a $100 an hour to do it.  You not missing anything missing the media exposure publishers can get you.***

If you want to write a book, then, just be sure to go into it with your eyes open.  Understand that the chances you will become rich as a nonfiction author are slim to none.  But writing a book brings satisfactions other than money, and if those are worth the expenditure of time that your project will demand, then by all means get to work.

**Indeed, it is about lifestyle, not money.  the money will follow.***

Seth Godin Is Done With Traditional Publishing

Quick, someone tell Godin about Seattle Teachers College Press!

Jeff Rivera has an exclusive he'll be reporting on:

Godin says, "I've decided not to publish any more books in the traditional way. 12 for 12 and I'm done. I like the people, but I can't abide the long wait, the filters, the big push at launch, the nudging to get people to go to a store they don't usually visit to buy something they don't usually buy, to get them to pay for an idea in a form that's hard to spread ... I really don't think the process is worth the effort that it now takes to make it work. I can reach 10 or 50 times as many people electronically. No, it's not 'better', but it's different. So while I'm not sure what format my writing will take, I'm not planning on it being the 1907 version of hardcover publishing any longer."


Even better than this news are the 88 comments below the article... writers can be hilarious.

P O D is Vanity Press

Ron Pramschufer is taking off the gloves and calling POD vanity press.  Here is his rundown on the NY Book Fair.  I still seem to have the best solution to promotion, the self-publishers' prime need.

Buy Eyeballs

My critique here is, even if it is effective, it does not offer the ability to "own the real estate" on the web of one's topic...  Before anyone ever buys advertising, he should read Ogilvy on Advertising.  Anyway:

August 19, 2010

What is the best way to promote a book? It depends on the book, the author and the audience. What's good for a business book is not necessarily going to work for a religion/spirituality book. Last week I recommended that you create your compelling signature line for emails - the message will change depending on the book and the audience, but this is something that all of you should be doing - children's writers, business writers, self-help, trade fiction, how-to, all writers! Something else that you can all do - submit your book information to the opinion shapers - those book reviewers who are influencing John Q. Public's buying decisions. Jenkins Group offers an easy and economical means to reach book reviewers. Check it out atwww.TheCriticsBookshelf.com  Our goal at Jenkins Group is to help small and independent publishers achieve success with their publishing projects. Check in here each week for additional tips and advice, and give us a call if there is anything we can help you with!  LITTLE COST OR NO COST BOOK SELLING AND MARKETING TIPS
1. The "big bang" theory is not always necessary. Many books will build their success over time as authors and publishers work on their message and become more experienced in the business. Sometimes it takes a bit to decide what works best for you. Keep working at it and make sure you're doing something every week!

2. Develop sound bites - as mark Twain defined them "a minimum of sound to a maximum of sense." Ask yourself, "What do I want my audience to remember?" Keep these sound bites top of mind to use in newspaper interviews, radio talk shows, elevator speeches, etc.

3. Remember that you are known by the company you keep - get testimonials from powerful names - aim high, think BIG!

4. Promote your book to over a thousand book reviewers at newspapers, magazines, on television, radio and online sources through The Critic's Bookshelf. And, you can also promote to librarians and bookstores through Jenkins Group's monthly Review Direct newsletter. Easy and economical, these programs will help you  make a splash and get a leg up on your competition.


Get started on your marketing right now. We're currently taking reservations for September amd the dealine is fast approaching! Take a look at the following and give me a call or send a note to khornyak@bookpublishing.com if you have any questions at all. 

Put your book in front of 1000 book reviewers for as little as $179.
Jenkins Group, America's leading publishing services firm, offers The Critic's Bookshelf, a powerful and economical reviewer introduction campaign that delivers your title information to over 1000 book reviewers across the United States and Canada. These dedicated book reviewers work for newspapers and magazines, in television and radio, and for online sources as well. 
"Marketing my new book myself has been a challenge. It is hard to know where to put your small budget pennies to make them count.  Listing my book with The Critic's Bookshelf was a great way to get the news out for me! I will be using their service as often as I can in the future." - Trudy M. Johnson, LMFT, Author of C.P..R.~Choice Processing and Resolution
See sample pages here

Introduce your book to nearly 40,000 librarians and 3200 independent bookstores for as little as $249 
Review Direct has evolved from a simple listing of book titles and descriptions to a respected and highly anticpated monthly newsletter featuring an opportunity for nearly 40,000 librarians and 3,200 independent bookstores to see what's happening in the world of independent publishing. Other publishers have enjoyed the benefits of introducing their titles to librarians and independent bookstores through Review Direct - you should too!

"Review Direct gives me the best ROI for the marketing of new products. The depth and focus of their mailings delivers results that are targeted and immediate." - Michael Prilutsky, President, Technology Skills, Inc.

Sample pages available here
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Go to www.TheCriticsBookshelf.com  for additional information and for secure online ordering at the discounted price, or CLICK HERE for the CRITIC'S BOOKSHELF registration form.
I look forward to working with you!

Kim Hornyak, Director of Book Marketing
Jenkins Group, Inc.
1129 Woodmere Avenue, Suite B
Traverse City, MI 49686
231-933-4954, ext. 1013khornyak@bookpublishing.com            www.JenkinsGroupInc.com     

1300% of What?

And for how long?

If I sold five books a week, and got a 1300% increase in sales the following week, then that would mean I sold 65 copies the following week.  If I clear $8 per copy on the book, then it means I profited $520.  Exactly what the increase cost me if I used these people.  I wish these touts gave full disclosure.  There must be a reason why they do not:

Good Day:

I would like to share with you the inspiration behind the successful Author Rose Rosetree. Rose says to her, inspired writing is even better than sex. "If you write what you know about, stay true to your inspiration, and keep inviting the world to take notice, eventually your readers will find you. Neither any publishing executive nor any agent (and I've had 27 failed ones, at least) nor anyone else on earth has the power to close the door to your success", says Rose. Click here to read the full interview with Author Rose Rosetree.
Have you been inspired? Would you like to share your book with leading publications, Blogs, TV stations and radio stations? Are you trying to figure out how to promote your book without breaking the bank?
The Jenkins Group Targeted Media Publicity Program is a service which delivers a professionally written press release to a custom list of 800+ targeted media members designed specifically for your book’s target audience.
All Targeted Media Release Packages include both a Regional AND a National Media Contact List and the distribution of your press release-including your books front cover image-to each contact on your list. Prices begin at just $499 and with your purchase on or before August 20th, receive a free e-book The Publishers Guide To Sales and Promotion (a $145 dollar value). Don't Delay; As This Is A Limited Offer.
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With professional writers crafting your release, your message is delivered in the style that busy editors, producers and writers are looking for. Great promotion does not need to be expensive, time consuming or overwhelming…just smart. 
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Please be in touch with me for a FREE consultation via the contact information provided below and visit us online at www.targetedmediarelease.com to learn more and to view examples of our PREMIUM and STANDARD Press Releases. I look forward to helping you sell more books in 2010!
Sincerely,
Stephanie Starner-Greiner
Book Marketing Consultant
Jenkins Group, Inc.
Bringing Books to Life!

1129 Woodmere Ave., Suite B
Traverse City, MI 49686

P: 231.933.4954 x1007
F: 231.933.0448
E: SSG@bookpublishing.com
www.bookpublishing.com

Jenkins Group, Inc.( www.JenkinsGroupInc.com ) was founded in 1988 and is based in Traverse City, Michigan.  The company serves individual and corporate clients internationally with a full range of custom book publishing, packaging, consulting and marketing services to the traditional and specialty book markets.

Rich History Since 1997

Infinity Publishing touts its "rich history" since 1997 on its website.  We could do likewise, I suppose.   I keep looking for competition doing what we are doing, but no... haven't seen it yet.

Short Publishers

Say you believe a publicly traded company stock will go down in value for whatever reason.  Shorting is a finance market technique in which you borrow the stock of a company, promise to return the stock someday,  and sell it for cash.  You hold onto the cash until the value of the company stock drops, and then buy some of that stock.  Say you borrowed the stock on May 1 and sold it for $1; and the value of the stock dropped to 60 cents on May 15. On May 15 you buy the stock at 60 cents (with the money you got selling the stock on May 1.)  And now you return the stock to he from whom you borrowed it on May 1.  There are nominally fees all around that make it worth while to all players, but the essential thing is you just made 40 cents "shorting" a stock.

The more people short a stock, the more the market thinks there is something wrong with a company.

Here are are a group of publishers who are heavily shorted, meaning many people think they will do poorly in the near future.

Just Add Instructor

Pearson is an educational enterprise based in the UK that has been busy since the 1700's.  They have acquired plenty of USA publishers and offer a vast array of educational services.  If you visit this page you will see it is not too hard for a would be instructor to pick a course and then teach it online.  Everything is there, already for the instructor to adopt.  And Adapt.  Just add instructor!

Who knows what the quality of the content is, but assume that it is accredited-school-worthy, but then, who cares, instructors always add and subtract from a text.  I would imagine any of these txt and online resources would meet about 80% of an instructor's requirements.

Artists Vs. Agents

I am not sure who Katy Perry is, but she and Snoop Dogg have come to the attention of the Beach Boys' publishers.  Snoop Dogg ends a music video called "California Girls" by saying "I wish they all could be California girls."  Gasp!

The publisher finds that offensive and is complaining, although there is no violation of any IPR. The Beach Boys like the song and video, and are particularly touched that Snoop Dogg would pay tribute to the original with his line.  The Beach Boys are distancing themselves from their publisher on this.  There is a lesson here.

It is a funny, if nasty, video and pretty clearly a hack effort to promote California tourism.  I am sure there is tourist promotion money in the creation.  There is a lesson here too.

Just Do Not Know What They Are Doing

Penguin Paperback, the classics republishers, just had their 70th birthday party.  it was 70 years ago that the publisher was started to reprint classics in a new font, with interesting cover, and commentary back and front, and sometimes a new translation.  This was enough to earn the right to copyright say the Aeneid or Last of the Mohicans.  A business is born.

The article to which I link is about royalties on ebooks, and how an agent named Wylie is shaking the publishing world up, but I would like to point out something else.

Since absolutely anyone can reprint the classics (either never copyrighted or out of copyright) what is it that Penguin does that makes is successful?  It cannot be a mwre copyright, which anyone can do, and the results are exactly the same: monopoly. It packages nicely, to be sure, but the Penguin success is based on marketing, not monopoly.

It is a case of post hoc ergo propter hoc: "it must be our monopoly, not our marketing" since gaining monopoly precedes the marketing.

There are others that reprint the classics and also get a monopoly.  Their translators are as good as anyone working for Penguin.  The difference again is marketing.

Copyrights are a downward spiral: believing in, and relying on, copyright monopoly, less effort is made in marketing, and so less returns means concentrating on what is believed to the the strength, that is monopoly, and so down it goes, like newspapers suing their readers.

But anyone could then print a penguin classic and sell it!

No they could not "and sell it..."  To whom?  Penguins customers?  At what price?  The same?  No, necessarily lower... and what did these books cost?  More, because the pirates print fewer.  Where did they print?  With second tier printers...  The entire materials sourcing, distribution, manufacturing, and distribution chain costs more and is less service oriented to pirates, even in a market free of copyrights.  The problem with the premise is it is ahistorical: there are no instances in the history of mankind where the posed problem ever occurred.  On the other hand, Penguin itself, is a great example of "marketing matters, copyrights do not..."

But copyrights protect consumers!  Nonsense.  Consumers protect themselves. Once consumer find they have a shoddy product, they exact revenge on the vendors at the head of the system that burned them.  It does not take long.

Pitching Allied Products

In the book Perish Your Publisher I lay out how authors should be vending anything allied to their own work on their working websites, such as a sextant for a sailing author or cooking utensils for cookbook authors.  Now comes a dotcom startup that offers to do this for you: Opensky.