I know its been so many days since I have posted any guest post. So, I am back with a bang on as the person I have here is Akansh Malik whose novel, Love Heals Everyting has become the favourite read.Lets see what he has instore for us.. Over to you Akansh 🙂
Hola…!! Fellow writers and readers… First of all, I would like to thank Surbhi, for inviting me to contribute a post to her blog. Today, I would like to share something about the Publishing Industry which might help you crack a perfect deal or a deal you might not regret in future. I would like to call this deal package as “5 Point someone… Before Signing a Publishing Contract.” Oh my, here you are, ready with your first book, so called your “First Baby” but unaware about how to get it published. So before delivering your baby, you need to know that there are two ways to do so. First is the Traditional way of Publishing and Second, Self Publish. I won’t speak about Self Publishing but would love to share my learning about Traditional Publishing. Traditional Publishing is a method where a publisher finds a potential in your work and offer to publish your book at his cost, and in return for your efforts he is ready to pay you a royalty. So, here goes 5 points you need to consider before giving your book to a traditional publisher. A BIG NO TO BUY BACK. BUYBACK – Publisher would definitely ask you to BUYBACK Certain books of your own work, but it’s time you get alerted… Buy back is usually an assurance for a publisher to get the initial publishing cost for your work and return you back with a pie piece of royalty, if your book works well and if not, they have already covered their profit margins. So, in short, it’s a crook way to say that your book is published as a traditional way.
TIME FRAME OF A PUBLISHING CONTRACT Time Frame for a Publishing Contract must be defined and you must limit it to a 3 year contract that usually big traditional publishing house does.
TERMINATION TERMS Termination Terms should be clearly mentioned under your agreement & it must include reversion of rights and freedom to grant you rights to any other publisher.
SUBSIDIARY RIGHTS A traditional Publisher usually under his agreement mention about the subsidiary rights which you are giving him in return for nothing at all.
Royalty. The royalty under Traditional Publishing usually varies from 10-20%, depending upon your negotiation.
I hope this point might help you to crack a perfect publishing deal and I wish you a good luck for your upcoming book. You can stay connected with me at Facebook.com/akanshmalik1 or you can mail me at email@example.com.