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Numerous times, I've heard authors make the claim that they were getting in on the ground floor by signing with a new publisher. The most notorious of these claims was made by an author who was later ridiculed as Shemp because of his stooge-like antics. However, rather than just say that idea was wrong, let's examine it in some detail.
To begin with, getting in on the ground floor means you're among the first to sign on. When you're an investor in company stock, it can even make sense because it would mean you're getting shares at the best price before they go up in value. That's, of course, ignoring the fact that the company might go bust or share prices never gain any value. However, authors are not investors with commercial publishing houses by virtue of signing a contract to have their books published. They're merely suppliers of the product. Consequently, they don't have any shares likely to gain value. So what do they have by virtue of being first?
For one thing, they're taking a chance on the company actually having or quickly developing a distribution network if it doesn't join an existing one. Without that, there's little chance of the author seeing any sales.
For another, they're taking a chance that the company actually has printing agreements with other companies to produce the books at the best negotiated price possible or owns their own presses. This means the company has resources, namely cash on hand, ready to meet the needs and conditions of those printers or pay for employees to operate their presses. After all, other companies, such as printers, are not going to extend credit to a new company that doesn't have any assets. Outside printers want to see cash up front if there are no assets. Nor are employees likely to remain available if they're not paid regularly and on time unless they're the publisher's family members. So this means if the company is asking the author for any fees of any sort, then the company probably doesn't have any real assets and stands a far greater chance of failure. By the way, don't be fooled because a company managed to last a year before failure appears likely. It can take that long for the stinky object to hit the rotating machine and often does. By then, a lot of time has been wasted and possibly the author's money will be unrecoverable if any was paid up front.
What advantages are there to being first or on the ground floor as some authors have claimed? Actually, there is possibly just one. By virtue of being the very first to sign on the author is more likely to see the books come out because the publisher needs to have at least one product get out on the market. Otherwise more writers won't be as likely to sign on. However, that means being absolutely first and that means not even the publisher's own book should come out first.
So how do you avoid mean-well, but clueless and inexperienced publishers?
First off, look at the web site since many if not most of these will be on the Internet. Look at the site for clues. Is the grammar polished or does it show a need for extensive and intensive editing? After all, if the site needs editing, just think of how they might harm your manuscript in turning it into a book. If the site's text shows polish, then look to find out who wrote it and that the individual is one of their editors who still works for them.
Second, is any artwork on the site properly attributed? If it's not, then you have to wonder where it came from and whether it was properly paid for or just used without permission. Generally, if they have the site built for them, there will be an attribution showing that company's name. Right there, you have some information that proves they probably had enough assets to pay for a professional design along with paying for the rights to any artwork. If the artwork was created by their own artist, then they'd want folks to know that they have the capability to produce art so it would be attributed as well.
Keep in mind that if there are no attributions for the artwork or text, that might not be good since it could be a sign that the publisher doesn't fully understand copyrights and realize that it applies to them just as much as to everyone else.
Third, are the editors' and artists' names listed along with their qualifications since they might not have anything to do with the site design? After all, you have a right to know that these individuals actually know what they're doing and to know what their qualifications are or to at least see some of their prior work.
Fourth, look at their submission requirements. Do those include the author providing artwork for covers? Does the author have to negotiate with an independent editor? Does the publisher expect the author to purchase and sell copies of the author's book? If so, these are bad signs. You might as well mark the ground floor you think you're getting in on as a demolition area.
Fifth, look at their contract. The publisher should be willing to share a copy before acceptance. If not, that's a very bad sign. That's like putting a moat around the ground floor with a sign stating bridge out. If the publisher does share a copy, read through it carefully and consult with experts concerning anything you don't understand. Don't just ask any attorney. Ask an attorney with intellectual property expertise. There is a difference. Publishing contracts cover different concepts and principles from many other contracts.
So, forget about any claims of being in on the ground floor. Remember, you're a writer, not an investor. It's not up to you to financially support your publisher. After all, your publisher is trying to make a profit off his investment in your writing. That's why you have to go through publishing guidelines. It's your publisher's means of determining if you're a good investment for him to take a risk upon.