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Showing posts with label Contracts. Show all posts
Showing posts with label Contracts. Show all posts

After A Contract, Then What?

After I sent in my signed book contract, I sat back in my recliner couch, ate dark chocolate truffles, and quit my day job.

Not!

Even though I'm receiving a good advance for a first time author, the amount I'll make this year from my writing would certainly not be enough to live on, even if I didn't have five children.

My advance will generously cover my writing-related expenses (editor, conference, contests, etc.). But after taxes are extracted and writing bills paid, there won't be much left, hopefully enough to take my family on an overnight celebration trip to the indoor water park that I promised them.

I have to gently explain advances to non-writing family and friends who assume that once we're published we're suddenly earning a decent income. When I break down my advance over three years of writing, they're able to get a much clearer picture of the money an average writer makes. Inevitably I get a look of sympathy.

While I'm grateful for the money to help offset my expenses and treat my family to a mini-vacation, I'd write for absolutely nothing other than the pure joy of creating. I know most writers feel that way. To get something published is a huge bonus and honor, above and beyond the pleasure we already find in the process of writing.

So now that my contract is signed and sent in, it's back to work. Currently, Bethany House editors have Book 1. (In my next post I'll share my experiences so far working with in-house editors.) Soon, this talented team will send me feedback on the changes I'll need to make as I begin the re-write process.

I'm also in the process of researching ideas for Books 2 and 3. The editors are encouraging me to write an American setting for my next historical. In previous posts, I explained that as a new author I need to build a readership. I'm learning the most efficient way to attract readers is to gear my books toward the settings and eras that are selling best.

I've recently emailed my editor at least six different story ideas. I typed a one page overview for each, similar to a synopsis. The editors at BHP will take all these possibilities for Books 2 and 3 to an editorial team meeting. There they will evaluate the pros and cons. My hope is that they'll like one, and I can get writing again soon.

Wherever we're at in the writing process, we don't put forth time and energy toward our books because we hope to one day be rich and famous. We accept the fact that the writer's life includes little glamor, long hours, and minimal pay.

Instead we write because the intangible rewards far outweigh everything else. Through our writing we're transported out of the daily problems of our earthly life; while we're in our imaginary worlds, our hopes and dreams come true; and then, when we return to real life, our steps are lighter and our smiles brighter.

Writing recharges me, and because I'm renewed through it, I'm better able to love those around me.

What are the intangible rewards of writing for you?

An Inside Look at a Book Contract

As most of you know, I recently signed a three-book deal with Bethany House Publishers. I wanted to take the opportunity to thank ALL of you for celebrating with me! Your encouragement and excitement made the moment all the sweeter!

After the initial verbal contract over the phone, BPH sent my agent five pages of legal terminology called the "Publishing Agreement." After Rachelle scrutinized it, she sent it back to them. Then finally, BPH sent me two official copies. I read through the contract, initialed each page, added my signature, and sent everything back.

The entire contract process took about 3 weeks. During that time, I wasn't allowed to say anything about the book deal. I could hint (and I certainly did!) but I couldn't share the details. Only after my publisher had received my signed agreement, could I finally shout my news through all of cyberland!

For the average writer, I think a book contract contains a mixture of both the easy to understand and impossibly complicated. I was just glad to have an agent who could help me make sense of everything. Here are just a few areas that my contract contained:

Grant of Rights: In this section I granted my publisher exclusive rights to print, publish, and sell in all book forms, including data base, electronic and computer publishing throughout the world during the full term of the copyright of three unpublished books.

Manuscript: This was the area in which all of the deadlines were spelled out for each of my books. I agreed to deliver Book One by November 15, 2009; since this book was already complete, I merely made a few name changes and emailed it to my publisher. Book Two is due by November of 2010 and Book Three by November of 2011. (I'll discuss the pro's and con's of writing one book a year versus writing two or more in a later post.)

Royalities: This section took at least half a page. My initial royalty rate is 17% of the publisher's net receipts. After 15,000 copies of my book sell, my percentage jumps up to 18%. It will continue to rise as high as 21% as more copies are sold. There are a lot of other details in this section regarding large-print editions, discount books, audio editions, etc. The general idea is that if I can sell more books, then I'll increase the percentage of my earnings.

Web Site Usage: I agreed to the stipulation that I have the right to publish excerpts of my books on my web sites or the web sites of others for promotional purposes, but that I couldn't exceed 1,00o words total.

Author's Copies: My publisher agreed to furnish 50 copies of my book to me and a certain amount to my agent. And then if I want additional copies I can purchase them at a discount of the retail price.

Agent: In this section I irrevocably appointed WordServe as my literary agent for this book contract. It spelled out that my agent is due to receive 15% of all the money I make as a result of the contract.

Advance: The final section contained my complicated advance schedule. After my publisher receives my signed contract, they'll pay me my first advance. Then I'll be paid another amount after my publisher accepts the complete manuscript for Book One. I'll get a check after they accept and approve each synopsis for Books Two and Three. And then finally I'll get paid again after the acceptance and approval of the complete manuscripts for Books Two and Three.

There you have it! Of course this is a VERY abbreviated version of my contract and I left out sections that are much more complicated. But I think this gives an overview of some of the more important areas of a book contract.

What areas of a contract are confusing to you? And what part would be most important to you? I'd love to hear your thoughts and questions!

Book Contract Details

THANK YOU ALL for celebrating the news of my book contract with me! I read each of your well wishes and am treasuring them in my heart!

Some of you asked for me to share more of the details of my book contract. Those who use Twitter already got a sneak peek! A few of my sweet tweeting friends (you know who you are!) pulled the information from me in short bursts of 140 characters or less.

On the one hand, I'm super excited to share the news and want to tell everyone, everywhere! But on the other hand, I'm struggling with how to broach such life-altering information humbly (aka without pride or boasting!). Even though I know it's important to build a web presence and market ourselves, I don't want this whole experience to be just about me.

It's my desire that by sharing my experiences I can encourage and give hope to other writers; if dreams can come true for an ordinary writer like me, they can come true for you too.

I also hope through blogging about the ups and downs of my journey I can provide an inside glimpse of what the steps to publication look like. It's never my intention to boast, so if I ever sound like I am, I give you permission to email me and scold me!

On that note. . . I would love to share more of the details of what my book contract contained:

1. Bethany House Publisher (BHP) is the publisher that I'll be working with. They are a large, traditional Christian publishing company. They publish both fiction and non-fiction and have authors like Beverly Lewis, Tracie Peterson, and many others.

2. They've offered me a three book deal. As part of the contract, they agreed to publish one of my completed books and would like for me to write two additional new books for them.

If you remember from previous posts, I had another completed book as part of my book proposal. While BPH liked it and might possibly consider it for future publication, it was set in the middle ages in Europe, not the greatest time period and setting for an author trying to break in and build a readership.

They would like to have some input into the direction of the next books with the intention of helping me develop the most marketable novels possible. Since they're good at selling books, I'm going to trust their advice!

3. My first book is slotted for publication next fall. That means, one year from now, I could be kissing the cover of my book. That is truly an amazing and humbling thought. Over the next months I'll begin the editing process. I've already spoken on the phone with the one of the editors I'll be working with, and he did an incredible job of immediately making me feel apart of Bethany House.

4. My synopsis for book number two is due by November and the completed book next fall. I'm in the process of gathering ideas to present to the editorial team. After I get their seal of approval, then I'll jump into writing the next book. My agent and now my new editor have both had to listen to me whine about how READY I am to start writing it!

5. And finally, my advance pleased my agent. Of course it pleased me too! But I since I'm a flop at financial issues AND since I had no idea what to expect, I would have been happy with a couple of pennies. What's most important to me is getting this awesome privilege of publishing a book. However, advances are part of the deal and I'm very grateful for what I was offered! (See Rachelle's recent blog post More About Advances.)

Thanks again for sharing in this joyful experience with me! Most days I wake up and wonder, is this REALLY happening?

If you have any words of wisdom for me as I start this new path of the writing journey, I'd love to hear them! And let me know if you have any other questions about the details of my contract.

Big News! Book Contract!

I GOT A BOOK CONTRACT!!!!!

I've known for several weeks now, and I've been hinting about it on Twitter. But I wasn't allowed to officially share the news until I received the contract in the mail, signed it, and returned it to the publishing house. Boy, was the wait excruciating!

But now it's signed and completely official! And finally I can share this news with all of you who understand just how long and hard I've worked for this accomplishment.

Last time I updated you, my book proposal was on it's way to Publication Committee which is the group of important people who make the final decision on whether to take on a project or not. They were meeting on Thursday. And my agent had informed me the committee would make a decision that day.

All Thursday I tried not to think about my proposal and the fact that the editors might be using its pages as coasters. But no matter how hard I tried to think of raindrops on roses and whiskers on kittens, my eyes kept straying to the clock. I had decided if I didn't hear from anyone by the end of the business day, then they'd wadded up the many sheets of my proposal and tossed them in the trash with their paper coffee cups.

6:00 p.m. loomed nearer and I prepared myself for the worst. At 5:58 the phone rang. Before it could ring twice, I sprang for it with a breathless, "Hello."

"Hi, Jody." The perky voice on the other end belonged to none other than my agent, Rachelle Gardner.

My heart didn't know whether to stop beating or speed up, so it started doing crazy splutters. "Rachelle. Good news or bad?"

She laughed. "I literally got a one line email from the senior editor on his way out the door. And. . ." She paused.

My fingers squeezed the phone and left a permanent imprint.

"And. . ." A jubilant ring infused Rachelle's voice. "They're offering you a contract!"

"Yes!" I threw my clenched fists into the air in victory and praise!

Even though Rachelle didn't know any of the details of the contract at that point, I knew ALL I needed to know. I had a contract. I would finally get to publish a book. My lifelong dream had come true.

Thanks, Rachelle, for making dreams come true.

And thanks to all of you for sharing in this joyful experience with me!

More about what was in my contract in the next post. . .
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