Friends, it’s been a busy summer for the Book Genie team! I had a bout of Covid and an eye infection (unrelated and no fun—do not recommend). When I wasn’t nursing myself back to health, I’ve built new classes, signing contracts with amazing new clients, and have consulted about everything from book deals to agents’ offers of rep. Here are some highlights and some news that I hope you can use!
To Auction or Not To Auction
Auctions in publishing seem like lotto tickets—exciting windfalls of cash! A frenzy of excitement for your book! But there are some really practical considerations to take into account when evaluating any publishing opportunity. And while auctions feel flashy and exciting, after you ride the high, it’s time to get down to the nitty gritty and think long-term. Here are three critical questions to consider before making an publishing decision about your book, but especially if you’re thinking of leaving your fate to the outcome of an auction.
Your Editor
I know so many authors whose publishing careers got derailed simply because their editor left the imprint. Losing your editor doesn’t mean you lose your book deal, but a change in staff can mean you find yourself working with an editor who didn’t acquire your work and is far less invested in its success than their predecessor. You may even find that your new editor isn’t the champion your first editor was or that the new editor is far less experienced.
While you can’t include terms like editing staff and editorial continuity in your publishing deal, when you’re considering a publishing offer, ask how long your editor has been with the company and specifically in that role within that imprint. If an editor has been on the job 20+ years, they may be more stable than someone with only two years in the role. The opposite may also be true. This is where your literary agent will earn their keep. Your agent should have insights into the imprint and the editor and should offer not a guarantee—no one can give you that—but an informed opinion about the best choice for your career—not just for one book deal.
If your book goes to auction, you won’t be able to pick and choose the editor. When the best offer wins the contract, you’ll be working with whoever is on the other end of the editorial pen. With a contract you negotiate with just one publisher, you may have less dazzle and flash but more editorial certainty.
The imprint
All imprints are not created equal. Think about Entangled Publishing. In November of 2022 they announced the formation of Red Tower Books. Why? Their bestselling romantasy/paranormal romance was previously published primarily under Entangled Teen. Part of the package an attractive publisher presents to an author is an imprint that has the vision, staffing, marketing plan, and community of peers that fits the direction an author wants their career to go. While Rebecca Yarros certainly could have released her runaway success Fourth Wing under Entangled Teen, as the inaugural release for Red Tower Books, Fourth Wing had marketing support, a massive budget and PR strategy, and releases from other authors whose primary consumer was not, in fact teens, but adult romantasy and paranormal romance readers.
When considering an imprint, look at the authors who have published in the last 2-3 years within that imprint. What success have those authors experienced and how much of the labor was taken on by the imprint? Is there a Discord or Slack community where authors can connect and commiserate? What access to PR support is provided? If you throw your fate to the outcome of an auction, you may end up with more money but fewer perks—and the perks at an established or highly attractive imprint might prove far more valuable over the long run of a career.
Payments!
I’m not just referring to the advance here. In an auction, most publishers will offer their most competitive package. That package may include specifics such as release dates, compensation rates for sub rights, and the deadlines or actions that will trigger payment of the agreed-upon amounts. For example, you may not see a penny of an advance until your book is “accepted” into a certain phase of editing. You certainly will not see 100% of a deal paid up front, as publishers will often break up payments over the life cycle of the book’s production. (For example, paying a percent on signing the contract, another % upon completion of edits, and so on.)
In an auction, because the publishers are putting their best offers forward, you may not have an opportunity to negotiate individual terms of an offered deal the same way you would by negotiating with a single interested publisher. And remember that even if the advance seems huge, after your agent takes their commission (most agents hold all funds in trust on behalf of the author, so your agent will be the one sending you the percent of the funds that are owed to you, often on a built-in schedule that can be 60 or even 90 days after they receive the funds from the publisher) you may see those payments spread out over 1-2 years or longer. When you negotiate a deal with a single interested publisher rather than going to auction, you may have more flexibility to negotiate more favorable, faster, or shorter payment cycles.
There are so many things to consider once you’re in the position of contemplating a book deal. Yes, it’s exciting to have an offer at all, but remember that each contract is a step on the path of your career as an author. One misstep won’t likely derail you completely. But mistakes can can time, money, energy, and creativity—things no author wants to lose.
Fall Enrollment is HERE!
I can’t even believe it’s already almost fall, but the courses I am teaching at Stanford Continuing Studies and UCLA Extension are not only already open for enrollment, but several sections are already closed! If you’re interested in taking an adult education course, there are still spaces open in my Be Your Own Developmental Editor course for writers and my Freelancing for Editors course:
Be Your Own Developmental Editor
There are a few spaces available in my writing courses, but by the time this newsletter goes out, the writing courses might be full! Feel free to comment or message me if you have any questions about anything, and please browse the course catalogues. Both UCLA Extension and Stanford Continuing Studies have some amazing courses on the schedule taught by amazing and passionate professionals. If you’re a writer, consider an editing course to deepen your skills. If you’re an editor, you should absolutely study craft from the inside out so you understand novel construction or nonfiction from the perspective of your clients’ experience. Fall is the season for getting down to business for writers and aspiring editors!
New Release News!
We want to send our most heartfelt congratulations to author Stacey H. Rubin on the release of her novel, The Baby Nurse, which is currently ranked #1 in Medical Thrillers on Amazon!
The Baby Nurse is part psychological suspense, part women’s fiction, and completely captivating. The reviews are outstanding, and we couldn’t be more excited that this fantastic book has found a publisher that saw the potential in this genre-bending thriller that we did. This new release is available on Kindle Unlimited, audio, and paperback.
Congratulations, Stacey! We’re so, so happy for your success!
YOU ARE THE BEST!
One of the best parts about working with people is learning so much about my clients’ talents. This summer I was gifted an absolutely incredible and stunning hand-made mug by a brilliant writer. And another amazing client PAINTED ME A PICTURE!!! I was blown away. Not only are these wonderful humans incredibly talented writers and caring people, but creative beyond the pen.
I’m so grateful every day to work in this industry. When I was a young professional juggling a day job and editing and teach on the side, I never could have dreamed that I would be working (more than!) full-time doing what I love with people and books that inspire me so profoundly. I want to sincerely thank you—subscribers, students, clients, friends—for being part of this work with me.
How is your writing going? Have you been able to be productive this summer or are you looking forward to fall, back to school vibes, and cooler weather to get back to. the word count? If I can help, share resources, answer questions, or provide information, please ask. I’m happy to write articles, resources guides, or share what I can to ease the path forward. We’ve got gorgeous new courses and workshops underway, so feel free to let us know what you need and we’ll make it, bring it, do it!
Happy (almost) fall! Stay healthy and safe, friends!