At Acclaimed Books Limited, a team has been formed to share the risk of getting books to market and promoting them. This exciting new business model brings together authors who may not have, or want, traditional publishing contracts, with all of the skilled professionals required for publishing success.
The book royalties are divided amongst the team of professionals who contribute, and the division is determined by the confidence each member has in the book’s potential for commercial success. Each member of the team can veto their involvement in a given title if they lack faith in it, have other commitments or object to the book for any reason.
For example, let’s say a brand new author with a title deemed to be good enough to take on is put forward. It may be the commercial potential is difficult to assess and to mitigate against the risk of low returns, the team might say ‘OK, but we want a bigger royalty share’. Let’s also say it’s a long book in need of substantial editing, the editor might say ‘OK, but only for a slightly bigger percentage’. The book promoter might also have to invest more time to ensure sales volumes meet expectations. As the professionals ‘bid’ for the share of the royalties at which they are content to be included, there will always be a reasonable level of confidence if a title is accepted. The share of royalties may also vary each year to allow the professionals to recoup their investment of time earlier and to increase the author’s share if the first year is quite low.
Year one might look something like this for a title that is difficult to assess:
On the other hand, let’s say a title is put forward from an author with a good track record in sales on other titles and with little need for attention, the team might say, ‘OK, this is low risk and not much work, I’ll do it for lower cut’.
The division of rewards might then look like this:
These are simply examples, each title will be different as there are many factors to consider.
In addition to the author’s creative ability, the professional skills required for each book, are listed below and all are required before a title will get the ‘green light’. Provided they have the skills, a professional may fulfil more than one role, and the final team selection (as well as the decision whether or not to accept the publishing contract) will be left to the author.
Acclaimed Books Limited will publish the books (including full project management) and distribute them exclusively on the worldwide Amazon sites in Kindle and paperback formats. There will be an initial contract term of three years and this will be exclusive. However, minimum performance targets will be included, below which the author may terminate the contract after six months. Each month Acclaimed Books Limited will pay the authors and professionals according to the agreed splits at the onset of the publishing contract.
From an emerging author’s perspective, they may be giving up a larger share of their royalties but in return they are getting a more professional product with a significantly greater chance of success. Few authors have the expertise to fulfil all of the roles required and we have removed the stumbling block of up-front fees. Participation is agreed on a title by title basis.
Professionals with the above skills who are interested in joining the team and authors wishing to make a submission, should contact me at the following email address: firstname.lastname@example.org