Question: 

“I guess that I am wondering how you manage an author's expectations around their first contract, like what does that look like in terms of, um, per book royalties or do they get like, uh, some at the, at the beginning, you know, just something I would love just to hear about that process a little bit more, just to be familiar with what options are out there, what, what is kind of standard in the industry, what feels like a, you know, Uh, like appropriate for where that author's at in their life, things like that.

So those are always kind of questions, um, that come to mind because once you get the exciting news that you have, uh, something that's getting published, I think, uh, after that it's like, what happens next? You know?.”

Answer

1.  Submission of Book Proposal: The episode kicks off by emphasizing the importance of submitting a compelling book proposal. Authors are encouraged to understand the nuances of traditional publishing and how to tailor proposals for different publishers.
2.  Publisher Response Time: After submitting a proposal, authors enter a waiting game. Response times may vary from a few weeks to several months. The three possible outcomes include rejection, silence, or an invitation to the next steps.
3.  Next Steps and Vetting Process: If a publisher expresses interest, authors might be asked for additional materials, such as sample chapters. The vetting process involves due diligence to ensure alignment between the author's work and the publisher's vision.
4.  The Offer Letter: Successful authors receive an offer letter outlining the terms of the deal, which typically includes an advance and royalty terms. This marks the beginning of the negotiation phase.
5.  Negotiation Opportunities: Authors are advised to negotiate the terms of the contract, considering factors like advances, royalties, buyback rates, timelines, and creative control. The host provides insights into what might be negotiable and how authors can advocate for their best interests.
6.  Advance and Royalties: While advances for first-time authors typically fall in the $5,000 to $15,000 range, negotiation opportunities arise for those with a substantial following or a proven ability to sell books. Royalty terms, however, tend to remain relatively stable.
7.  Production Phase: Once the contract is settled, the production phase begins. This involves working closely with the acquisition editor, undergoing developmental editing, copyediting, and ultimately moving through the book's design and layout phases.
8.  Launch and Beyond: The final phase involves launching the book. The host highlights the thrilling journey authors experience from proposal to publication and emphasizes that the seemingly slow process eventually leads to the joy of seeing one's book on the shelves.

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