Business End

Articles about the business aspects of publishing and self-publishing.

What Makes People Buy Self-Published Books?

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This post by Tara Sparling originally appeared on her site on 7/31/14.

In this post, I discussed the findings of a scientifically incontrovertible study (of myself) on the factors which influenced me when buying a self-published book.

The findings surprised me (which surprised me, because I was surveying myself). I found that I knew what made me buy a self-published book when it was in front of me, but not what put that book in front of me, unless I was browsing by genre (e.g. today I feel like reading a romance set in Ulaanbaatar: therefore I will now search specifically for such a story).

It was still hard to know what put those books in front of my eyes in order to buy them; to quote one of the commenters on that post – this is the thorny issue of “discoverability”. How will we find these books in the first place?

So I did the unthinkable, and asked some other people. I surveyed readers and writers alike, in online groups for different fiction genres of crime, fantasy and general fiction, and more than a few other people who just like to talk to other people about reading and writing. I asked them what factors influenced them most when buying books – particularly self-published books and any other books which aren’t pushed by the major houses.

 

Click here to read the full post on Tara Sparling’s site.

 

What Does Amazon/Hachette Have to Do With Me?

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This post by Barry Eisler originally appeared on his blog on 8/9/14.

In connection with the $100,000 ad some reactionary authors bought to run in tomorrow’s New York Times, Amazon has sent a letter to its self-published authors. It’s a good read, with some interesting historical context, for anyone who values low-priced ebooks and fair royalties for writers. And if you want to share your opinion on those topics with the CEO of “Big Five” publisher Hachette, you can email him — just scroll down the Amazon letter. Here’s what I said:

Hi Michael, even if the Big Five (why would anyone imagine something called the Big Five could be a cartel?) still had the power to control the market — and you don’t — the best you could do through agency and windowing and the like is delay the inevitable mass market transition to digital. Is that really who you want to be? A reactionary, focused on shoring up the next quarter rather than expanding your opportunities for the long term?

I don’t want big publishing to die — I want it to get well. But to get well, you’re going to have to change the lifestyle that’s led to your ongoing decrepitude.

Please, think about the future. Think about your place not just in the Big Five, but in the world. Stop impeding what’s best for readers, writers, and reading. Don’t fight progress. Be progress.

Sincerely yours,
Barry Eisler
www.barryeisler.com

I’ve seen some interesting reactions to the Amazon missive. I responded to some of them over at The Passive Voice, which consistently has some of the best industry coverage I’ve seen (both for Passive Guy’s presence and the insights of the people who comment there). I’ll address those reactions here, as well:

1. Amazon and/or Hachette are trying to get me to do their bidding, drag me into their war, dragoon me, etc.

 

Click here to read the full post on Barry Eisler’s blog.

 

C’mon, Book Marketing Isn’t That Hard

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This post by JW Manus originally appeared on her site on 8/2/14.

I see and hear about a lot of writers wanting to sign an agent and go for a traditional deal because, “The agent and publisher know how to market my book and I don’t. It’s too hard.”

Nuh-uh.

Here’s how it works: Agents know how to market to certain editors; Editors know how to market to their editorial heads and marketing departments; Marketing departments know how to market to retail distributors. What none of them know (or maybe they don’t bother with) is how to market to readers. That’s the writer’s job. Trad or indie, if you don’t know how to market, your books are sunk. In fact, if you don’t have a marketing base before you submit to either an agent or editor, your chances of even getting a second look are slim to none.

What’s a poor writer to do? Panic is not an option. Truly, marketing is NOT that hard. Basically, all marketing is: Being in the right place in front of the right people with the right product.

 

Click here to read the full post on JW Manus’ site.

 

Does "Novel" Now Mean Any Book?

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This post by Ben Yagoda originally appeared on Slate on 8/4/14.

I was taken aback recently to pick up an (unnamed) magazine for which I’d written an article and see my brief bio begin with the words: “Ben Yagoda is a novelist. … ” I am not a novelist, never have been, and have not (since the age of 15) even had any aspirations in that direction. When I looked into the possible reasons for the error, I came to understand that the person who wrote the bio wasn’t misinformed or making stuff up, but rather took “novelist” to mean the same as “author,” or, more specifically, “writer of books,” and maybe even more specifically than that, “writer of more or less meritorious books.”

A light bulb went off. I teach mostly writing and journalism workshops, but every once in a while, in class discussions or writing assignments, students will have reason to refer to particular nonfiction books—as I say, meritorious books, so not a guide to using your digital camera or naming your baby—and on numerous occasions they have referred to them as “novels.” I never gave this much thought till I had a conversation a few months ago with my colleague Kristen Poole, who teaches Renaissance literature. She told me that her students very frequently write things like “Shakespeare’s novel Hamlet.”

 

Click here to read the full post on Slate.

 

Michael Cader of Publishers Lunch In Conversation With J.A. Konrath

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This post by J.A. Konrath originally appeared on his A Newbie’s Guide to Publishing blog on 8/1/14.

Joe: Yesterday I fisked Mike Shatkin, who openly brags he doesn’t read my blog, and has removed my comments from his blog because he felt them too long.

I also fisked Michael Cader from Publishers Lunch.

Cader, however, showed he doesn’t fear debate, and had no problem sharing his opinion in a forum where many have a contrary point of view. He responded to my points in the comment section, and that took integrity and more than a little bit of guts.

Michael Cader: Hi, Joe. I’m glad we have at least some points of agreement. Some of your other replies are tangential rather than on point.

Joe: Thanks for responding, Michael. While it isn’t unprecedented for people I blog about to respond, it is certainly unusual, and shows both an open mind and a willingness to engage. You have my respect.

Cader: Amazon is very careful with their words, even if not elegant. The post begins, “A key objective is lower e-book prices.” A lot of traditional media have written the post up as if it said “The key objective…” What are the other key objectives, Amazon? Why do your conversations with people in the trade talk about looking for your fare share of the “business efficiencies” produced by a rising ebook market and your investments, while your public words are only about pricing objectives.

Joe: Well, we agree that Amazon is careful with their words. It’s unusual to hear an observation like that leveled as a criticism. Does Cader prefer the Hachette approach, which is to clear English what a chainsaw is to a tree…?

 

Click here to read the full post on A Newbie’s Guide to Publishing.

 

These Romance Writers Ditched Their Publishers For Ebooks — And Made Millions

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This article by Mandi Woodruff originally appeared on Yahoo! Finance on 8/1/14.

In early 2010, things weren’t going very well for San Francisco-based romance novelist Bella Andre. Brick-and-mortar bookstores were shutting down in large numbers, and after seven years, eight books and two publishers, she learned she had been axed from her latest contract.

“I was hanging on by my fingernails,” says Andre, 41, who was trying to carve out a niche in contemporary romance. Peers advised her to try a different pen name, to change genres, to write anything but love stories. With a degree in economics from Stanford University and a background in music, she wasn’t short on career options.

Then a friend suggested she look into self-publishing. At the time, Amazon.com’s  (AMZN) direct publishing platform, which allows just about anyone to publish and sell their books online, was beginning to gain traction among professional writers. After years of bending her stories to the will and opinions of publishers, editors and literary agents, Andre found the prospect of having complete autonomy over her material very appealing.

“As an author, I was not high up on the publishing food chain and [my ideas] were rarely ever listened to,” she says. “I took my friend’s advice and I dove right into self-publishing.”

 

Click here to read the full story on Yahoo! Finance.

 

Amazon Speaks: We Want Lower eBook Prices from Hachette

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This post by Nate Hoffelder originally appeared on The Digital Reader on 7/21/14.

Amazon hasn’t said much concerning their ongoing contract dispute with the French media conglomerate Lagardère and its US publishing subsidiary Hachette, and today the retailer broke their silence with what is only their third official statement (not counting the leaked letter).

Like the first two statements, Amazon isn’t saying much. According to a message posted on Amazon’s forums (and copied below), one of the sticking points in the negotiations is the price of ebooks. We of course knew this from the WSJ interview in which Russ Grandinetti said little and avoided defending Amazon, but Amazon expands upon that earlier statement with a call for higher author royalties on ebooks.

The statement below lays out the math Amazon uses to justify their push for lower ebook prices, but it’s worth noting that the statement is somewhat misleading.

Amazon would like you to think that most ebooks can be priced at or below $10, even going so far as to point out that “there will be legitimate reasons for a small number of specialized titles” that will cost more, but what they hope you won’t realize is that they are glossing over whole swathes of nonfiction content, including textbooks, reference manuals, professional books, and works that are much longer and more expensive to create than your average novel.

 

Click here to read the full post on The Digital Reader.

 

Kindle Unlimited – Some Early Results

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This post by Nick Stephenson originally appeared on his blog on 7/23/14.

For anyone still living under a rock, or perhaps a particularly voracious shrub, you’ll probably already know that Amazon’s new Kindle Unlimited program launched over the weekend, spurring a veritable explosion of opinion (both optimistic and doom-mongering) across the interwebs. Of course, much of what people are speculating is, well, just that – speculation.

So, in an attempt to add a little objectivity into the mix (God forbid) I figured I’d let you know how the new Kindle Unlimited service has affected me in the few days it’s been live.

But, before I get to that, I promised I’d put a comprehensive post together explaining how I’ve been building up my email list over the last few months. I’m seeing some steady growth – going from just a few hundred subscribers at the beginning of the year to over 4,000 readers as of today. For me, especially in light of potential game-changers like Kindle Unlimited, having my own ready-made list of followers is more important than ever. If you want to find out more about what I’ve been doing to build this up, head on over to indie legend David Gaughran’s Blog – David was kind enough to invite me over for a guest post about email tactics, and I’ve included a full breakdown.

Anyway, back to the topic at hand. What exactly is Kindle Unlimited? It’s being touted as “Netflix for Books”, and is essentially a competitor to the already established offerings from Scribd and Oyster. The key points authors need to know are:

 

Click here to read the full post on Nick Stephenson’s blog.

 

Creative Entrepreneur: Business Models For Authors

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This post by Joanna Penn originally appeared on her The Creative Penn site on 7/25/14.

This is a continuation in the author entrepreneur series of articles. Recently, I posted the arc of the indie author from first book to CEO of your global business.

Today we’re focusing on the various business models that authors can use to generate revenue and satisfy customers.

Of course, many authors have day jobs which is a great way to pay the bills and writing can then be for fun or extra income, but this article is aimed at authors who are intent on going full-time in this business.

 

Why do you need to define your business model?

Defining your business model can help keep you focused. Opportunities expand as your profile grows and keeping your business model top of mind can help you say no to things that distract you. [I need to remind myself of this all the time!]

For example, renowned indie author JA Konrath states, “I gave up on public appearances a few years ago, because of diminishing returns. They were indeed fun, but the cost and time away from writing wasn’t worth it to me.”

My business model includes professional speaking as well as being an author, but recently I have started to turn down speaking work in order to focus more on the writing and only taking interesting speaking events, like Sweden in September. I’ll be sharing my business plan at some point soon, but in considering where to focus my efforts, these were the most common business models I discovered – and some people mix and match between them.

 

Business model 1: Non-fiction books with info products, speaking and consulting

 

Click here to read the full post on The Creative Penn.

 

How Much My Novel Cost Me

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This post by Emily Gould originally appeared on Medium on 2/24/14.

Writing my first book got me into debt. To finish the next one, I had to become solvent.

IT’S HARD TO WRITE ABOUT BEING BROKE because brokeness is so relative; “broke” people run the gamut from the trust-funded jerk whose drinks you buy because she’s “so broke right now” to the people who sleep outside the bar where she’s whining. But by summer 2012 I was broke, and in debt, and it was no one’s fault but mine. Besides a couple of freelance writing assignments, my only source of income for more than a year had come from teaching yoga, for which I got paid $40 a class. In 2011 I made $7,000.

During that $7,000 year I also routinely read from my work in front of crowds of people, spoke on panels and at colleges, and got hit up for advice by young people who were interested in emulating my career path, whose coffee I usually ended up buying after they made a halfhearted feint toward their tote bag–purses. I felt some weird obligation to them and to anyone else who might be paying attention to pretend that I wasn’t poor. Keeping up appearances, of course, only made me poorer. I’m not sure what the point of admitting all this might be, because I know that anyone who experiences a career peak in his mid-twenties will likely make the same mistakes I did, and it’s not even clear to me that they were all mistakes, unless writing a book is always a mistake, which in some sense it must be.

In 2008 I sold a book-in-progress for $200,000 ($170,000 after commission, to be paid in four installments), which still seems to me like a lot of money. At the time, though, it seemed infinite. The resulting book—a “paperback original,” as they’re called—has sold around 8,000 copies, which is about a fifth of what it needed to sell not to be considered a flop. This essentially guarantees that no one will ever pay me that kind of money to write a book again.

It took me a while to realize that my book had failed. No one ever told me point-blank that it had.

 

Click here to read the full post on Medium.

 

How Facebook Calculates What Appears In Your News Feed

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This post by Mari Smith originally appeared on her site on 7/18/14.

The problem with Facebook organic reach can be summed up in one single graphic: Only 6 percent of your fans are seeing your content in their news feed. The other 94 percent are not.

Some sources indicate that organic reach may drop to 1-2 percent in the near future. Others say it’s destined to hit zero; it’s only a matter of time.

These stats are a big drop from the already low 16 percent that Facebook indicated back in April 2012.

What is causing the decline in organic reach?

The simplest answer is there is a significantly greater amount of potential content flooding into our news feeds on a daily basis. This bigger firehose of content is caused by several factors, including:

– The average number of Facebook friends users have is 338 (that’s a big increase compared to 130 back in 2008).

– 15 percent of Facebook users have more than 500 friends.

– There are between 1500 and 15,000 pieces of content that Facebook could potentially show in your news feed each time you log on to the site!

– The Facebook news feed ranking algorithm (some folks call this formula ‘EdgeRank’) uses more than 100,000 weights* to determine what you’ll see.

– Ultimately, out of the 1,500 – 15,000 potential stories, Facebook passes them through the mega algorithm and displays approximately 300 stories in your feed.

*Examples of weights: how many mutual friends like the person/page/content, how often you interact with the person/page, when the post was published, when the last comment was made, what types of content you typically interact with: watch more videos and Facebook will show you more videos, like more links and Facebook will show you more links.

 

Click here to read the full post, which includes charts, an infographic and 12 concrete tips for expanding organic “reach”, on Mari Smith’s site.

 

'Juno' Screenwriter Diablo Cody's Advice on Writing, Hollywood & More is Smart & Spot-On

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This article by Rachel Simon originally appeared on Bustle on 7/16/14.

To some people, Diablo Cody disappeared off the face of the earth sometime in 2008, right after she won an Oscar for penning Juno. Sure, they might’ve heard something about a new movie here or there, but when nothing became as big as Juno, they (wrongly) assumed Cody left Hollywood. To those who’ve paid attention, though, it’s clear that the filmmaker has been everywhere these last few years: writing, directing, producing (not to mention giving birth to two kids) and, most recently, sharing her secrets with Glamour’s Cindi Leive about building an “unconventional career path” and what lessons she has for women looking to have their own Juno-like breakthroughs. All ladies, whether filmmakers or not, should take note; these are coming from the woman who’s making a rock star movie with Meryl Streep, after all. Cody’s best pieces of advice:

 

#1. Don’t Pick a Fake Name Until You’re Ready

The woman born as Brook Busey-Maurio changed her name early on in her career, when she was just beginning to blog and wasn’t yet a published author. She chose a “cool and intimidating” pseudonym for the purpose of Internet anonymity, but looking back, making the change so early, before she was established as a writer, “was honestly such a mistake.”

 

#2. If You’re Not Happy With Your Life, Change It

 

Click here to read the full article on Bustle.

 

It is Hard for Publishers to Apply Even Harvard B School Advice in Their Struggle With Amazon

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This post by Mike Shatzkin originally appeared on The Shatzkin Files on 7/15/14.

Harvard Business Review published an article recently by Benjamin Edelman called “Mastering the Intermediaries” which gives advice to businesses trying to avoid some of the consequences of audience aggregation and control by an intermediary. The article was aimed at restaurants who don’t want their fate controlled by Open Table or travel companies who don’t want to be beholden to Expedia. The advice offered is, of course, scholarly and thoughtful. It seemed worth examining whether it might have any value to publishers suffering the growing consequences of so much of their customer base coming to them through a single online retailer.

The author presents four strategies to help businesses reduce their dependence on powerful platforms.

The first suggestion: exploit the platform’s need to be comprehensive.

The author cites the fact that American Airlines’ strong coverage of key routes made its presence on the travel website Kayak indispensable to Kayak’s value proposition. As a result, AA negotiated a better deal than Kayak offered others or than others could get.

Despite some suggestions in the late 1990s that publishers set up their own Amazon (which they subsequently half-heartedly tried to do with no success) and a couple of moves to cut Amazon off by minor publishers that were minimally dependent on trade sales, this tactic has never really been possible for publishers on the print side. Amazon began life by acquiring all its product from wholesalers — primarily Ingram and Baker & Taylor — before they switched some and ultimately most of its sourcing to publishers to get better margin. But the publishers can’t cut off the wholesalers without seriously damaging their business and their relationships with other accounts, and the wholesalers won’t cut off Amazon. So for printed books, still extremely important and until just a couple of years ago the dominant format, this strategy is not worth much to publishers.

 

Click here to read the full post on The Shatzkin Files.

 

Why Writers Are Opening Up About Money (or the Lack Thereof)

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This article by Anna North originally appeared on The New York Times Opinion Pages on 7/21/14.

Writers may always have worried about money, but now seems a particularly fertile time for writing about it. Scratch Magazine, launched last year, takes as its purview “Writing + money + life.” The Billfold routinely runs stories on how freelance writers and other creative types “do money.” The novelist Emily Gould opened up about her financial life in a popular Medium essay and subsequent interviews, and The Guardian’s Alison Flood recently reported on the sorry state of writers’ incomes (which, in turn, inspired some critique from Gawker’s Michelle Dean).

This spate of talk about writing and money has opened up broader conversations about who can afford to enter the profession today, and who gets shut out.

Manjula Martin, the cofounder of Scratch, told Op-Talk that “there has always been this tension for writers around how to make a living and how to make art.” However, she said, growing job insecurity in writing professions and beyond may have led to a new wave of anxiety: “As the economy is changing and as things just feel more precarious in our culture, that bleeds through to the literary culture. And I think a big part of that too is a question of, ‘is literature and are the arts going to continue to be valued in ways that we have perhaps always just assumed they would be?’”

 

Click here to read the full article on The New York Times Opinion Pages.

 

Censorship War: Website Unmasks Links Google is Blocking From Search Results

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This post originally appeared on RT.com on 7/17/14.

A subversive website has been launched to keep track of news and other webpages Google has “censored” from the search engine’s index, following the European Court of Justice’s controversial Right to be Forgotten ruling.

The tech giant has reportedly been inundated with 70,000 requests to remove sensitive information from its search results in the aftermath of the ECJ’s decision. While this data may be accurate, it is considered “irrelevant” and possibly defamatory under the EU policy shift.

In a mark of protest against online censorship, a new site ‘Hidden From Google’ has begun archiving links censored by search engines intent on complying with ECJ demands. The site was set up by US web developer and transparency advocate, Afaq Tariq.

The New Jersey developer asserts the removal of links from a search engine’s index amounts to censorship. So in an effort to preserve transparency in Europe’s online realm, he invites visitors to log data that has been removed from Google on the site.

“This list is a way of archiving the actions of censorship on the Internet,” Tariq states on the site’s about page. “It is up to the reader to decide whether our liberties are being upheld or violated by the recent rulings by the EU.”

 

Click here to read the full post on RT.com.