IDEA MEETINGS:
Writers understand that publishing is a business, but novice writers seem to think that business begins when their book is printed. Not so. Business begins with a brainstorming session.
Idea meetings are typically attended by a combination of an editor’s editorial and marketing staff, and attendance can vary depending on who is available on any given day.
Although they can be scheduled for the same day and time each week, these meetings are basically informal and unstructured, more like group discussions. They generally do not have a written schedule or agenda; everyone sits around a table and the atmosphere is collegiate, relaxed and frank.
Editors brief the group on book proposals to generate engaging discussion. The group asks questions, gives opinions, and volunteers information on similar or competitive books.
Brainstorming is essentially exploratory. Its purpose is to challenge the proposals by examining them closely and cutting to see if the proposed project would make a good book for the house to publish. They discuss whether they think the company should devote more time and resources to each book analyzed.
In idea meetings, proposals can be rejected, but final approval cannot be given.
In these meetings, the group wants to see if the book has a strong hook and how it is positioned. The proposal must clearly answer the following questions:
What is the book about?
Is there an audience for the book?
If so, who is that audience?
Where will it be kept? Books that do not have clearly identifiable places on bookstore shelves are lost. The booksellers don’t know where to put them, and potential buyers don’t know where to find them.
Can the book be produced in a way that provides value to readers? For example, if all books on a topic are priced in the $ 30 range, can the publisher deliver this book with more words or information that is not in competing books and sell it for $ 12.95?
“A book has to be clearly identifiable as something new to the market,” according to Gary Krebs, editor-in-chief of Globe Pequot Press. “New to the market means it can be the same topic as something that already exists, but there has to be a new twist, a new direction, which can sometimes just be a format change. Or, you can turn an existing topic to a new demographic like women entrepreneurs when all the other books were primarily aimed at men. “
All decisions are driven by the market; the group must believe that the proposed book can make the company money. Publishers and marketers usually don’t endorse a proposal unless they believe the book can be commercially viable.
If the proposal survives the brainstorming, the editor who defended it usually prepares a presentation report or package for another committee; one who has the authority to acquire property. The report or package includes research on sales figures, competing books, comparable history of other books from the publisher, recent editorial trends, and whether this proposal fits with their overall vision of what they did in the past and want to do in the future. .
In many houses, the champion prepares a profit and loss (P&L) statement for each proposed book. If the company decides to make an offer to buy the book, the profit and loss statement forms the basis of the price the company will be willing to pay for the book.