Time was, the publishing industry could claim a stable existence, safe within its leather-bound borders. If a publishing business was held and run by competent hands, it could typically expect a nice payoff from those gilded-edge pages. Over the past decade (or more), however, sales numbers have become increasingly unpredictable.
The merging of some traditional publishers and the shutting of doors by others has made becoming a debut author perceptibly less likely. Literary agents have more methods than ever for heaving even the most adventurous and resolute new author out the door — particularly if the author doesn’t arrive on the agent’s doorstep with an existing base of eager readers. What new and unaided author can show up with the needed number of followers in tow? I would guess the number may amount to about zero.
Traditional publishers want relevant authors but have a massive challenge in finding them, especially with the scale filtering methods used today. The whole author-agent-publisher convoy has become a woefully ineffective method for discovering and nurturing high-quality literature and new titles.
But recent developments in the publishing world have allowed for a possible future. New platforms such as Publishizer, a crowdfunding literary agency, are stepping forward and connecting authors and publishers through preorders and data. This seems like a safer haven for newbie authors.
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1. No more rejection of new book ideas.
Constantine mentioned that in the U.S. every year, more than 1 million book proposals get turned down — that’s a rejection rate of about 96 percent. Not that this widespread rejection is just making an appearance now — it’s something that has gone on for decades. Certainly, it’s no secret that agents and their publisher counterparts are subjective in their choices of material to present.
We have all heard horror stories like Tim Ferris being rejected numerous times for his New York Times bestselling book The 4-Hour Work Week. And who wouldn’t want to shake some sense into those who received J.K. Rowling’s first Harry Potter manuscript — and rejected it more than 10 times? The world-famous Harry Potter series nearly didn’t get published, and Rowling was told not to “quit her day job.” The number of good books that might never see the sunlight of publication is staggering.
Crowdsourcing can eradicate these traditional roadblocks and inefficiencies by validating book ideas with readers who preorder copies after reviewing an author’s proposal, which Publishizer helps create according to industry standards. Authors then get matched to publishers based on the specific interests of acquisitions editors — before any of the book is written. So rather than being painfully rejected dozens of times over months or years, authors can be quickly connected with interested publishers.
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Crowdfunding may single-handedly bring about an era that we have not seen before in publishing, helping us find works that would otherwise languish in a literary graveyard somewhere. I believe that crowdfunding will uncover books that will delight future generations — and bring a bright new unfolding of freedom to people who have not known where to strike that power pose before.
Link to the rest at Forbes