ESPAN

Please join ESPAN RWA in welcoming our Guest Blogger, Lyrical Press publisher/owner Renee Rocco, who joins us to discuss The Business Model:

By now we’ve all been saturated with certain publishing terms, namely, “business-model”. This term, obviously, isn’t reserved specifically for publishing. It applies to business in general – and being that publishing is a business, and the model is, in fact, changing, we’re all hearing this term used more now than ever before. But what exactly does it mean? Well, simply put, it means that with the boom of small and/or independent publishers over the last decade, there is no denying or ignoring the “traditional” business model is considered a dinosaur in many publishing circles. As well it should be. Why? Because times, they are a’changing. Sure, there will always be print books, but ebooks are swiftly gaining popularity. Digital-first or digital –only publishing is on the rise and those not involved with the ever-evolving technology trends will get left behind.

Many authors still approach publishing with that old dusty business model in mind: print-only, large New York publishing house, Print-On-Demand equals B.A.D.

Sure, the second one is still a fantastic goal. A large New York publishing house has greater resources and, in many cases, wider distribution. But the first – print-only? Not so good. Print is another one of those fantastic goals, but it shouldn’t be stuck in your head like a beloved 1950’s classic doo wop . Time to upgrade to 2010. Learn to sing another song, because publishers have, and either you’re in turn with that or you’re going to severely limit your publishing options. And really, isn’t the joy of actually having options in today’s publishing world something to celebrate rather than morn?

Digital books are thriving. Amazon’s Kindle is a prime example of the power digital reading is having on our society. As kids weaned on technology grow up, ebooks will be as common to them as print books are to us older folks (hey, I’m almost 37. I was raised with my nose buried in a print book!). As a matter of fact, my five year old loves my Sony Reader, even if she can’t quite read yet. I’ve actually brought it to her kindergarten class and did a full-on demonstration for the kids…and guess what? Many of them knew what it was before I had to explain it to them. Yes, times, they *really* are a’changing!

As for Print-On-Demand (POD)…forget the whole “it’s evil!” mindset. In this day and age, when cutting costs is now the rule of thumb, many publishers, including some larger houses, are going the POD route. It’s cost effective, and that’s a smart business model no matter how you look at it. All POD means is, your book is printed on demand. Instead of large print runs that could generate an ungodly amount of returns, POD allows for books to be printed as they’re ordered. This should not affect distribution, as all-too many authors fear.

It all comes down to one fact – an author is no less published for opting for a small/independent digital-first/digital-only publisher.
And speaking of being published…that leads me to an author’s business model. Yes, you read that right. Authors have a business model as well. Being a writer is a hobby. Being an author is a business. Once you take that first step on the road to getting published, your words – your books – are your work. They are the tools of your career. Your story belongs to your readers and you owe it to them to *not* regard your book as your “baby”. As an author, you are obligated to edit that manuscript in a manner that befits your professional status, with the result being a book worthy of your readers.

You are also expected, as an author, to approach a contract in a way that is professional and reasonable. It is a binding document both you and your potential publisher are legally bound to. honor You are expected to understand that the contract is worded to protect both you and your publisher’s assets. Ignorance is not an excuse if you find you’ve signed a contract you don’t necessarily agree with. As an author, it is your responsibility to understand – and agree with – what that contract states prior to signing. Trust me, your publisher does, and so should you.

One of things that have also changed is, authors are now held accountable for promoting their book(s). The days of sitting back and collecting royalty checks while your publisher does all the work are over. You won’t be seeing very many of said royalty checks if you don’t do your job of marketing your book. This doesn’t mean the publisher is absolved of promotional responsibility. Far from it. What this means is, it’s now a shared responsibility and authors need to be prepared to approach promoting in a professional, and effective, manner. In fact, many publishers are now requesting marketing plans with a submission.

Yes, the traditional business model is one that many are finding tough to shake, but evolving with the times is a “must” if you want to succeed in publishing in today’s world. Embrace these changes, since it’s working to give authors a broader range of opportunities by allowing publishers to take chances on manuscripts they might not have otherwise been able to do in the past. And that’s always a good thing!

Lyrical Press, Inc. is a New York based digital-first independent publisher owned by the husband and wife team of Frank and Renee Rocco. Their goal is to provide authors with a reliable and pleasant home for their books and offer readers an eclectic mix of quality titles. Lyrical offers Print On Demand for select titles over 60,000 words.
Renee and Frank make their home in New York. They have one daughter and a child due in July. Rounding out their family are two crazy cats and Pretty Girl the Turtle.

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