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Twenty
Questions for Your New Book Deal
By
Steve Gillen
Opinion
STEVE GILLEN
TAA Council member, 1997-1999
Frost & Jacobs
2500 PNC Center
201 East Fifth Street
Cincinnati, OH 45201-5717
(513) 651-6159
sgillen@aol.com
Gillen, a
publishing-law lawyer, has worked with authors since 1979.
How to
win the game before your editor knows it has started
©1996, Stephen
E. Gillen |
Once you have some
idea of what might be negotiable in a book publishing contract, it is
time to do some serious sleuthing. Negotiations are ultimately influenced
by which side knows the most about the other side's positions. The editor
starts this contest with an advantage gained from experience in the
market, experience doing other similar deals (undoubtedly many more
than you have done), and the benefits of your perspective as reflected
in your proposal. The way you get on an even footing with your editor
and publisher is by knowing what to ask, and just as importantly, when
to ask it.
What follows is
a list of 20 questions (more or less) that you can employ to learn more
about your publisher's plans for, and expectations of, your work --
information that will help you evaluate your leverage and your editor's
weaknesses. Ask them in the context of negotiating a book contract and
the editor will evade them, hedge, or refuse to answer. Ask them after
the editor has indicated an interest in your work but before you engage
in active contract-focused negotiations -- in the context of learning
more about your editor and publisher, more about their list and their
business, more about the market and your potential competition -- and
you may catch the editor still in his or her selling mode. Ask them
yourself and in person or over the phone. Negotiations may be formal
and may be best handled by your attorney or agent in order to preserve
your relationship with your editor. But information gathering will be
most effective if you do it in person. A question perceived as innocuous
when asked by you will be viewed with suspicion if posed by your agent
or attorney. It may take some prodding, probing, wheedling, and cajoling,
but the information you gather will prove valuable so take copious notes.
Your first task
is to loosen up the editor with some questions about his or her background.
Get the editor talking freely and you are well on your way:
- ONE. How
long have you been with the publisher ? Editors move from house to
house and it will be helpful to know how long your editor has been
in his or her current position.
- TWO. Where
were you before? The experience editor gained at other houses will
tell you something about his or her knowledge of the market and the
business.
- THREE. Did you come up through the sales side or through editorial? The editor
with a sales background will have a significantly different negotiating
focus from the editor with an editorial background.
- FOUR. Tell me about your current list. How many titles are there? What disciplines?
What curricular level? What are your lead titles? What sort of market
share do they have? Are any of them market leaders? The answers to
these questions will tell you something about your editor's place
in the pecking order and about how much attention your project is
likely to get. Next, find out how important your project is to the
editor's bonus. No editor will knowingly tell you, but the answers
to these questions may provide a few clues):
- FIVE. How many new books do you sign in a typical year? The answer to this
question will tell you something about the editors annual signing
goals.
- SIX. How
many new books have you signed so far this year? The answer to this
question will give you some idea of where the editor is in relation
to his or her goals. If the editor is close to his/her annual average,
it could well be that signing you will make the difference between
earning or not earning a bonus. You will probably never know for certain
how important your project is, but you may at least get a clue.
Find out where your
book fits in:
- SEVEN. How would you envision positioning my book vis-ˆ-vis the competition?
This will tell you what your editor sees as your work's competitive
advantages -- information that will prove useful should you decide
to approach other publishers with your project.
- EIGHT. Who are your principal competitors in this market? If you have not
already submitted to these competitors, you should seriously consider
doing so immediately. The best leverage you can have in negotiating
a book contract is to know that there is another interested publisher
in the wings.
- NINE. Do you have any titles (published or signed) similar to mine? For
obvious reasons, you want to know if the editor will have divided
loyalties. Moreover, when it comes time to talk about the scope of
your non-compete clause, it is very helpful to be able to point out
specifically that the publisher is not similarly constrained.
- TEN. If
the proposal or partial manuscript has been reviewed, check the reviews
to see who is identified as a competitor. Again, you want to know
about the other publishers who might also be interested in your work.
Get the numbers.
The answers to the following questions will help you back into a reasonable
advance against royalties:
- ELEVEN. How big a market are we talking about? This will give you a sense
of how the publisher views your book and whether you both see it the
same way.
- TWELVE. What sort of market penetration does the publisher generally expect
with a new book? In combination with the answer to Question 11, this
will give you a way of corroborating the editor's sales projections.
- THIRTEEN. How many units would an average book do in the market for which my
book is targeted? First year? Lifetime? How many do you think the
market leader does? The answers to these questions, once you know
the cover price, will let you estimate revenues and royalties so that
you can make a credible, objectively supportable request for advances.
- FOURTEEN. How many units does a book like mine have to do to break even? The
answer to this question will tell you at what volume the publisher
covers its costs.
- FIFTEEN. How many units would my book have to do before you would consider
it a roaring success? The answer to this question will tell you at
what point the publisher has made its customary margin. The break-even
volume and the volume necessary to a target margin are natural break
points for a sliding royalty scale. Consider accepting the rate first
offered up to break even, but ask for a higher rate up to the target
margin, and ask for the moon beyond that.
- SIXTEEN. How would you see my book priced? As noted, this information helps
you project revenues and royalties, but it also will tell you something
about the titles your editor views as competitive -- because they
will necessarily fall in the same price range.
- SEVENTEEN. Do you think it would travel well? If the editor says no, then it
will be very hard for him/her to push for exclusive, perpetual foreign
and translation rights.
- EIGHTEEN. Tell me about your foreign sales ability? Sub rights licensing (translations
and adaptations)? New media capability? Again, rights that the editor
is not positioned to aggressively exploit should not be part of the
package.
Get the promotion
plan:
- NINETEEN. What would you envision doing to promote a book like mine? How many
pages in the promotional brochure? Full color? How big a mailing?
How many review copies and comp copies? Presentation at sales conference?
Author appearance? Journal ads? Anything else? Most publishing contracts
say very little indeed about what the publisher will do to market
and promote your work. If you get a sales pitch from the editor, make
an effort to reduce it to writing and reference it in the publishing
contract.
Check the back door:
- TWENTY. Roughly what percent of the titles you sign actually make it into
print? The answer to this question will tell you how important it
is to introduce an objective acceptability standard into the manuscript
delivery clause.
- TWENTY-ONE. Is there anything else I should know about you or about how you see
my book fitting into your list? If your editor is still talking, you
should still be taking notes.
You will not get
answers to all of these questions. And you will not get answers to any
of them without a fair amount of prodding. But the time and effort you
spend will tell you volumes about your editor and will pay many dividends
when the time comes to negotiate that contract.
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