So you have a book deal – now what?
April 14, 2010
Negotiating a book deal seems like the easiest step at the end of a hard road. You’ve written something, proposed the idea and an offer has been made. You can hardly believe its happened. A complete stranger wants to pay you for your book. Wow!
A great feeling though it is, a book deal, like any deal, requires you to become commercial in your thinking. Many authors, especially in the U.S. more often than not engage an agent to do this thinking for them. The agent does the commercial stuff for them and pockets some margin from the author’s earnings. This is kind of convenient – reaching the Publisher in the first place may have been facilitated by the agent – and the agent may have offered the author feedback and support key to the book’s eventual purchase. In large markets, like the U.S. Publishers may be too busy to handle proposals any other way, simply because of their volume.
However, the world is changing, and we can’t assume that the agency model will continue indefinitely. So, let’s consider what to do if you don’t use an agent. What differing opportunities are available from self-negotiated deals as compared to agent-negotiated deals?
An agent’s job, in a commercial sense, is to commodify your platform by auctioning your work to the highest bidding Publisher – and moving around Publishers (if necessary) to secure improved advances for future works. They are there, in the crudest commercial sense, to “show you the money” for each book you produce.
Partnering with a Publisher for the medium or long term is a different approach which creates mutual loyalty and allows strategic planning to prosper your career. This choice could be described as “show me the money tree”. Agents are capable of this as well, but good Publishers are paid to imagine your future books lining up behind the one they’ve offered to buy. Essentially, they don’t want to buy the golden egg that’s up for auction – they want to buy the goose who lays them – in the nicest sense of that fowl word!
So, agents are useful, and well worth talking to and dealing with. But I’d like to suggest that a creative partnership with one very good Publisher creates loyalty that can go a long way. When the sales team goes out to sell your book, are they selling out of the Managing Director’s brief to recoup the big advance – or are they selling the books of someone they know and respect?
Photo by Sumeetkanand.