Continues from Part 2
4. How will you run your publishing company?
Some startup publishers may choose to have an in-house staff to do all of the work. Others may choose to outsource the work to freelancers. Either option can work fine. However, you need to ensure that you can cover every aspect of the publishing process to present a high-quality book like a top 5 publisher.
Book distribution is also important as it will determine the book’s availability in the online and offline marketplace.
5. What are your expectations of the authors?
Many first-time authors have unrealistic expectations about the future performance of their book. They think that it is going to be a NY Times bestseller or an international bestseller. They write the book and expect you to do the rest of the work.
A signed contract discusses the terms of the agreement, including your expectations from the author. Although, it helps to have another talk. It will prevent the author from being surprised about the performance of their book.
A Book Publisher’s Profitability
As a book publisher, you get about 90 percent from print books and 75 percent from eBooks minus expenses, of course.
Alternatively, you can be a more generous publisher by allowing the author to be your partner. In this case, it becomes somewhat of a 50/50 deal. Both parties get half on eBooks and audiobooks. However, you may still prefer to get a bigger share of the print book sales.
Many people get obsessed with the profit potential, but there are no guarantees. The truth is that most startup publishers shouldn’t quit their jobs. If you don’t have startup capital, consider crowdfunding as an alternative.
However, if being a book publisher is your dream, I published my first book to help people reach the finish line. The book is a resource to help you make more money in less time, which will give you more free time.