Things Are Changing
In these economically bleak days it is more important than ever that authors start looking at new creative ways to monetize their books. The crunch is being felt in almost every aspect of the book industry.
From publishers to distributers to bookstores, all are reporting financial numbers that are down from where they were this time last year. In some cases, they are lower than they ever have been.
Publishers Weekly reported that Josef Blumenfeld, Vice President of communications for Houghton Mifflin Harcourt, the original publisher of the Guerrilla Marketing series, confirmed that the publisher has “temporarily stopped acquiring manuscripts” across its trade and reference divisions.
Borders bookstores have been in “financial reconstruction” for most of the year and book returns have risen at a staggering pace.
Certainly this type of doom and gloom should raise doubt as to whether it’s still good to have a book published, unless of course you are one of those authors who understand that the real power in a book’s success is not dependent on these entities but rather is determined by the author’s ability to build a business around the book.