First Word

Today's topic - book pricing ... I get routinely asked, "How should I price my book?" A lot of authors will want a low price without considering their breakeven point. If the cost per book exceeds the actual royalty you receive per book, you're going to automatically start in the red and never be able to get past it. Now eBook sales can mitigate this problem since you only have a one-time conversion fee.   My advice though is to never price your book so you're actually losing money. Even if you're making a small profit per book, go that direction and mitigate it with eBook sales. I know many authors are concerned about pricing their books out of the market. So, that is why I suggest at least some profit if you want to lower your price based on that concern; but do not flip it over. Going upside down on any project is always a losing proposition - that is, unless...   You're doing a book to enhance your image or career . If you wr...

I thought I would pack this issue of First Word with some great marketing resources for books. I'm signed up on many different lists and newsletters. So here are some interesting resources and tips you may want to check out.   Sign up to do online book talks with Pearls of Creation . Several authors have said this one is good. Here is the information:   Email: Marge@pearlsofcreation.com or Pearlsofcreation@yahoo.com Website: http://www.pearlsofcreation. com http://www.Pinterest.com/ 1000pearls/   Cross-promoting other authors on Twitter . Several authors help each other and pass book release information back and forth. When I posted some information about my earlier novels, I sold some eBooks. It definitely came from Twitter re-tweets of the material.   Write a great pitch to major media outlets . Don't be afraid of big names like the New York Times . The sheer intimidation factor can prevent some authors from even promoting to major me...

Scott D. Roberts, president of 3L Publishing (www.3LPublishing.com), and I recently remarked on the "shysty" nature of some self-publishers who take people's money and produce little or nothing. The stories are so rampant it's sad.  Education. You must educate yourself on this industry and carefully investigate your potential publisher before you drop a dime. Our hybrid services (crossing traditional and self-publishing) aren't aimed at quantity. We focus on quality over quantity. If 3L Publishing published every manuscript that came to us we wouldn't have the reputation with the book reviewers. What should you look for? Buy some of their books . Nothing will give you a clear idea of the product quality than to buy the product. Look the books over. Do you see errors on something as important as the back cover? A few mistakes in the book is common, but not on every single page. How does it read? Is it a page-turner? Is it shockingly bad...

Self-publishing has its place so please don't take this blog as a critique of the self-publishing method. I'm going to review three HUGE errors with what is actually a great book. The green book California Girl Chronicles is my book published by 3L Publishing (www.3LPublishing.com). I'm not going to say whose book is the other one out of respect for (again) what I think is actually a great book (outside of these mistakes). MISTAKE #1 - FAILURE TO USE VALUABLE MARKETING REAL ESTATE (THE BACK COVER) Your back cover (aside from the cover) is the prime marketing "real estate" on your book. A blank back cover is a tremendous misuse of an important marketing and sales opportunity. The back cover is the second area readers review when they pick up a book, and it often triggers the sale. MISTAKE #2 - FAILURE TO UTILIZE THE SPINE WITH THE PROPER TITLE How is anyone going to find this book on the shelf? The spine helps bookstore readers identify your name and ...

What is a hybrid publisher? Our company 3L Publishing (www.3LPublishing.com) is a hybrid publisher. Hybrid (means combines both) publishing takes traditional publishing and crosses it with self-publishing. What does this mean? You get everything a traditional publisher provides (editorial, graphics, and book distribution, which many of those services are not available to individuals ... for example, our printer who provides competitive pricing does not work with individuals) at higher royalties. Royalties range from 35 percent to 100 percent (you sell it yourself). Now compare that to a traditional publisher that provides 8 to 10 percent. Why are the royalties higher? Because the author (much like a self-publisher) pays to have the book created. The payment is a one-time fee. Higher royalties enable the author to enjoy return on investment at a faster rate and become profitable AND be the one who enjoys the profit if the book becomes a best-seller. What is the average cost to pub...

Tip #1: Why are you wanting to publish? An important question that will determine which direction to go in terms of selection of a publishing process (self-publishing, custom publishing, hybrid publishing, or traditional). Is it to simply finish a book you want completed? Is it to establish your legacy with friends and family? Is it to just get your story out of your head? Is it to reach a wide audience? Is it to become a best-seller? Is it to establish a new career as a writer? Tip #2: Are you ready to get out there and sell? Nothing sells a book better than an author. Reality though is your efforts to reach a wide audience (if that is your goal) require you to get out and sign books and meet people. Does this deter you? Also, realize book signings are glamorous on the surface but work at the heart. It requires work, time and commitment to sign books and sell. Glamor wears off about your 5th signing or second kid's soccer game missed. Tip #3: Are you prepared to invest. Whet...

Before we get started, read the July 2014 Author Earning Report ( click here ). 3L Publishing (www.3LPublishing.com) falls between the two high categories of publishers that have the most best sellers on Amazon -- Indie (25%) and Small- to Medium-sized Publishers (45%). The most important takeaway for those considering other options to self-publish or use low-end services like Create Space or Smash Words is the ranking for top-sellers is 1% -- not good. Already in 2014, we had Josh Mathe's book In the Footsteps of Greatness crack the top 10 on Amazon and go to no. #3 to be considered an Amazon best seller. What do you need to know as you consider your publishing options? Based solely on the published figures in that report, here are your bullet points: The mainstream big publishing houses' market share has eroded down to 16 percent in terms of overall best sellers produced. The self-published options have the lowest market share at 1% and hardly offer any potential ...

I just got off the phone with a prospect. She saw a presentation I recently gave. She said she was so impressed. She cited one thing I said as important, " 3L Publishing's mission is to strive for excellence in everything we do." My desire for excellence is driven by my passion for publishing and books. I know what I like. I know what I as a consumer want to see. What I don't want to see is a low-quality book where no care was given to the quality of the product. I want not only the experience of working with my company to be a great relationship with our authors and clients, but also I want our final products to shine and reflect handsomely on the author and my company. I want every author or client to know that regardless of anything else, their books or marketing materials will be well-done. They will show off their final products with pride. They can feel good about it. When I've achieved those goals I've done what I set out to do -- strive for excellence...

By Michelle Gamble-Risley, CEO, 3L Publishing ( www.3LPublishing.com ) I get frequently asked if my company 3L Publishing is a self-publisher (we are a hybrid publisher), and what is the difference between 3L’s services and self-publishing and traditional publishing? The answer isn’t simple. I am going to give you a check sheet that shows what 3L Publishing provides as a hybrid publisher vs. the other models. Caveat : Every publishing house is different. Other publishers may provide some of the services I’m not checking off. Please don’t take any missing checkmarks as misleading information. The information is general and not specific to any one publisher. I’ve been criticized in the past for not providing a complete picture. If I’ve missed anything, please feel free to share. My intention is only to help clarify the marketplace and answer questions not mislead or misdirect. Also, you may read this and feel it’s slanted in favor of my company. Be advis...

Do you know how Mercedes is just perceived as expensive while Hyundai is perceived as cheap. This is called market perception. When you build a perception of value and prestige your price can follow. If you build a perception of cheap and inexpensive value will follow. What perception do you want to build around your company, product or service? You are in control of that image right from day one. Entrepreneurs might wonder, how do I create a greater perception of prestige and value around my product or service? You have to start with your actual service or product and how you "build it" (service is an act and that is another discussion). We're going to describe your value proposition in your product (although some of this applies to service, too). Since I am a publisher I am going to describe how I create products to compete against low-value publishers. Some authors do not immediately recognize this difference. It can require an educated eye, but also high-quality p...

When writers go to self-publish and they don't have experience with actual publishing, I see so many common mistakes. I always encourage writers to use professional services vs. do-it-yourself attempts that visibly fail and make their products -- whether books or brochures -- look unprofessional. The following are some common mistakes I see with self-published books, brochures or anything that requires professional service to get it right. Poorly Trimmed Children's Books or Graphics --while an author may not be overly bothered about his or her illustration being cut off because of misaligned template specifications, this mistake jumps out every time. I will casually thumb through one of these children's books or graphic-intensive flyers, brochures, business cards, etc. and notice the graphics are cutoff. I've seen many children's books with these problems. Illustrations cutoff right along the edges. Print alignment is math. You need a graphic artist who knows prod...

Yesterday I reviewed what to look for to protect your own interests when it comes to self-publishing on the editorial side. Today we're going to address graphic services and production. The funny comments I have heard from misinformed people who don't know what they are talking about goes like this: How hard can it be to push graphics around on a page? My answer: it's harder than you think and it takes education, knowledge and skills. Graphic artist is a true profession not a kindergarten class where you learn to draw squares, which is what that comment suggests. Further, production is a whole other part of the process, and it requires respect for the capabilities of the graphics person. Graphic art is an entire degree program at college. So, the misunderstanding that it's pushing pictures around on a page is very ill informed. When it comes to graphic design, what I'm going to do is share information that will help you as you move through the publishing process...

Like any business environment you have those who run nothing more than a racket as publishers. I have more authors show up to meetings to discuss their attempts at self-publishing that were abysmal failures. The common complaint goes like this: "I spent $10,000 at XXX publisher and never received a thin dime in royalties." Now there are some common self-publishers whose famous names could easily be used in place of the XXX's (and if you want to know their names, call me at 916-300-8012). It is sickening to see authors spend that kind of money to have not nothing financially to show for it, but also have some unattractive products. Now I would, of course, love to prevent authors from throwing money literally down the drain, but then these same authors think I have an agenda and may feel my warnings are dubious. Well, of course I'm trying to earn a living as a publisher, and 3L Publishing is doing great; but it really does bother me to hear these shameful stories of ...

Traditional publishing is the premiere way to publish for authors, so goes the myth. But did you know that many big name authors now self-publish? Do you know why for some authors this has become a more desirable route? 8-12 percent royalties -- when you use services like my company 3L Publishing , royalties range from 35 to 100 percent. If you sell 10,000 copies at 10 percent, say, for $10 books, that is a $1 a book. You've made $10,000. If earn 35 percent of that same $10 it's $3.50 per book, which is $35,000. You can quickly see why some big names decide to publish independently. Agent Fees : Now let's take that $10,000 and pay the agent who got you the traditionally published deal. Most agents take between 10 to 20 percent. For the sake of easy math, let's subtract your agent's fee of $1,000 for your $10,000 and now you have $9,000. The self-published author with a name, still has his/her $35,000. Which would you rather have? $9,000 for selling 10,000 ...

With so many self-publishing choices, many authors confuse something very important: the ability to publish OR the ability to publish it RIGHT . Many different "distribution mechanisms" like Create Space enable authors to publish on the cheap (and I use the word "publish" loosely since Create Space is not a publisher but a "publishing tool"). Authors write the book and find the tool (they call the tool their publisher, which again it is not a publisher), and they call their books published. They also believe they got such a deal, and this cheap publishing tool enabled it. The book might sell to friends and family -- and that's all the audience it will ever find. It wasn't even done professionally. It's often not professionally edited (the author is a professional writer and their English teacher friend proofed it). They didn't have a graphic designer design it, they hit "format" in Word and it is "formatted" and not d...

I am constantly having my company 3L Publishing compared to what I call "distribution mechanisms" that are not true publishers. Authors think that many of the new eBook distributors are publishers. I try to dispel this misconception. Some of these "tools" include Create Space and Smashwords. Now some of these services will provide what I call rudimentary services such as editing and graphics, but the prices are so low that you have to understand the difference between the perceived value vs. true value. Create Space is primarily a distribution mechanism for eBooks. You follow their parameters for the eBook formatting and then it's distributed via their systems. Now I am not an expert on Create Space, but also I do caution authors who believe Create Space is their publisher . These groups, and this includes Smashwords, are in the group of self-publishers, but typically don't provide any substantial assistance and real publishing methodologies. For example,...

I have so many authors who show up and consider my company 3L Publishing (www.3LPublishing.com) who are also considering self-publishing. First, I want to be direct that a self-published book can be really well-done if an author has experience in publishing and understands the requirements. The only problem is most authors do not understand publishing. They may understand the basic fundamentals of writing and editing, but production is often a question mark. And one thing I have found that nine out of 10 new authors definitely don't understand is the proofing process. Here is a common conversation: "I am a professional writer, and I hired an editor," says author. "You still need a professional proofreader," I reply. "No, I am also an English professor and I'm POSITIVE there are no mistakes!" I could actually send you to a few of my clients who made that kind of statement early in the process. They have now experienced the process, and they wi...

Many authors ask questions about self-publishers such as iUniverse or more recently Book Baby or Smashwords. Now before I explain why these "publishers" are nothing more than a "mechanism" to get your book out there, I want to be fair. Some of these services do exactly what they say -- they get your book converted to an eBook and then posted on eBook distribution service like Kindle on Amazon or Nook on Barnes and Noble. A place like iUniverse does a little more than that, but for the most part not much more.  After speaking to hundreds of authors who have used self-publishing services, I would like to clear up the confusion that seems to follow some of the more popular self-publishers.  Your book is edited by a professional -- true or false ?  False ! Some services provide ZERO editing. Other services provide an editor. Is that editor always qualified? One review of some back cover copies produced by some of these self-publishers suggests a lack of quali...

Writers consistently ask questions and discuss the different publishing options available today. I want to provide some pros and cons to each publishing option. I also want to impart that except for the shysters in the publishing industry who will take money and produce virtually nothing, most independent publishers are reputable. My best advice: always do your homework. Ask for references and happy client testimonials. If a publisher produces none then shy away. Also, ask for samples of their previously published books. TRADITIONAL PUBLISHING Pros Your book's expenses are paid for by the publisher You have no costs for the book itself The publisher distributes to the bookstores Royalties range from 8-12 percent Royalties are paid annually or every 18 months to account for returns Cons You have layer upon layer to get to the publisher Most publishers want you to have a platform or following before they will consider you You must have an agent It can take a long...

I wish I had some before and after photos of self-published books that were republished through my company 3L Publishing . The difference is astounding. Most new and emerging authors don't have the platform or following to get traditionally published. Out of frustration these authors end up trying to self-publish, and because they are not publishers they either try to scrape together an amateur self-published book or they wind up being ripped off at one of the many self-publishers who offer some super cheap K-Mart prices. The results are typically embarrassing and do nothing to generate sales. Here are reasons why you don't want to self-publish, and you especially don't want to self-publish and buy one of those "super cheap" package offers that look great until you end up with a terrible product. Typos and errors : What do you get when you work with a "professional" editor who is nothing more than an entry-level English major who is being paid $10 an...