I have a theory, of sorts: Western culture values quantity over quality. More is better than less. Big is better than small. Perhaps it has something to do with the dualism created by Judeo-Christiana theology?
Whatever the case, it may account for the increasing length of blog posts to do with the business of publishing and writing of books. Ironic really, that people offering ‘advice’ cannot do so succinctly in an industry where getting to the point is the point.
The speaker who provided the greatest number of ‘lightbulb’ moments at the creative3 forum held in Brisbane AU this week was Hugh Mason of Pembridge Partners.
Although the following slideshow is sans the ever so important context provided by Hugh at the event, it is nonetheless worth a look if you’re engaged in the creative industries and seeking finance (muso, author, film maker, shoe designer, chef …).
I’ll try my best to answer any queries via comments, but I can’t promise Hugh’s eloquence or understanding.
Props to i.lab incubator for the tip to this 2004 video from Guy Kawasaki about founding a business on ‘meaning’ before money.
Having just spent the past few days at the creative3 forum, where investment in the creative industries has been top of mind, this is timely to say the least.
I received the following in my favourite news reader and would have linked Seth Godin’s blog, however the site is/was down and authors, musicians, artists and chefs :-) alike to should think about what Seth has to say.
With so many options in media, interaction and venues, you now get to choose what you expose yourself to.
Expose yourself to art, and you’ll come to appreciate it and aspire to make it.
Expose yourself to anonymous scathing critics and you will begin to believe them (or flinch in anticipation of their next appearance.)
Expose yourself to get-rich-quick stories and you’ll want to become one.
Expose yourself to fast food ads and you’ll crave french fries.
Expose yourself to angry mobs of uninformed, easily manipulated protesters and you’ll want to join a mob.
Expose yourself to metrics about your brand or business or performance and you’ll work to improve them.
Expose yourself to anger and you might get angry too.
Expose yourself to people making smart decisions and you’ll probably learn how to do it as well.
Expose yourself to eager long-term investors (of every kind) and you’ll likely to start making what they want to support.
It’s a choice if you want it to be.
Take care out there.
(I fired up my proxy server and managed to connect to Seth’s site: here’s the link. Go figure.)
Hugh Mason of Pembridge Partners (UK) spoke this morning at the creative3 forum and gave us an insight into the venture capitalist’s head. There were only two things in there: risk and reward.
Whatever you’re pitching and to whomever you are making the pitch, Hugh’s advice is well worth remembering.
Here’s Apple’s spin on their new iAd platform. Not one mention of how this benefits the end-user (i.e. you and me), because it simply doesn’t! Image sourced from Apple’s web page dedicated to the iPhone OS.
Source: www.apple.com/iphone/preview-iphone-os
My biz Red Hill Publishing applied a while ago to join SPUNC, the Small Press Underground Networking Community. Looks like a really worthwhile and important organisation, although I wouldn’t know as our membership was declined.
They said:
At the current time, we do not accept publishers who require their authors to pay upfront costs, and it is unlikely that we will allow such publishers to become members in the near future.
Yet their website notes:
(SPUNC) is a representative body for small and independent Australian publishers. It was formed in 2006 to promote independent publishing and support the principle of diversity within the publishing industry as a vital component of Australian literary culture.
Obviously not interested in too much diversity …
As an independent publisher Red Hill is primarily focused on one outcome: return on investment for our authors. I think we’re one of the few publishers that is genuinely concerned about whether our authors not only recoup their investment but make a profitable living from writing.
I certainly accept that there are many ‘fee-for-service’ publishers who are disingenuous in claiming to support their authors. How an author can expect to secure a return on investment after spending $20,000 when their ‘publishing package’ only includes 100 printed books is beyond me. How such businesses can justify their existence as anything other than opportunistic similarly eludes me.
At the same time offering an advance against royalties doesn’t suddenly make a publisher the epitome of integrity. Most published authors can reel off grievances about ‘creative’ accounting; nominal marketing support; unanswered phone calls – the list goes on. The traditional publishing business model doesn’t guarantee trustworthiness.
Organisations like SPUNC, and the publishing industry more broadly, focus on the wrong end of the publishing ‘workflow’. They see the legitimacy of a publisher as being determined by who takes the financial risk, when what matters most are the outcomes for the author (and perhaps how they are achieved).
The question is simple enough: does the publisher’s business model allow the author to make a living from their work? Unless an author offers up a mass-market smash hit I don’t see how a 10% royalty helps them achieve this.
Oh, and by the way, Red Hill is an author-retained rights publisher. Authors take a financial risk, keep their rights and retain the spoils. Our authors keep 87.5% of receipts (100% until they have recouped their investment). And since Red Hill works with authors who have existing, non-retail channels to market, on a $34.95 RRP that’s $30.58 in their bank for each copy sold. On a 10% royalty it would be only $3.49.
I don’t see anything untoward about our maths or our business model. If a publisher is more interested in making money for itself I can see how it might be a problem.
Pardon the absence. Pneumonia. Three weeks feeling like complete pants. But I’m back and I’ve a few things to say. Regular blogging to recommence this week.
This is a weird post. It’s a ‘welcome’ to the new blog on the one hand and a ‘be sure to check out the old stuff’ on the other.
Red Hill Publishing’s principals have decided to establish separate blogs (this one, and sallycollings.com) and so I’ll be importing all my posts from the old Red Hill blog, which I’ll be doing on the timeline as originally posted; hence the old stuff.
Anyhow, hope you enjoy my outrageously opinionated world view.
It is the first of March and FebFast is now officially over. 28 days sans alcohol. Thanks to everyone who made a contribution via Red Hill Publishing to the important charities supported by FebFast. Our fundraising page is still open and I’m still on the wagon so please make a donation to the cause!
I learnt several important things about alcohol during my FebFast experience. Here goes:
So if you’re looking to lose some weight and find a little bounce in your day, think about spending some time on the wagon.