What I Would Do If I Were a Publisher Today

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By Michael Drew - Jul 09 , 2009

The greatest challenge to any thinker is stating the problem in a way that will allow a solution.
—–Bertrand Russell

Last time out, I took a pretty good hack at the publishing conglomerates for continuing to perpetuate the mystique and romance of selling books in an attempt to woo authors and protect a business model that has been broken for quite some time. I imagine those publishers who read my rant were a little peeved and a lot curious to know what I would do to fix things. Fair enough.

If I were a publisher, I would—–

Accept reality
Adopt an entrepreneurial attitude
Align with emerging thought leaders
Focus on helping build platforms instead of sell books

Step 1: Accepting Reality

Things have changed since the average number of new titles and editions published each year hovered around 40,000. Today, there is much more competition for shelf space (Bowker.com reports 275,232 new titles and editions in 2008), co-op expenses have become outrageous (cardboard displays at major booksellers can cost as much as $20,000), and emerging media is providing alternative forms of entertainment, as well as multiple options for gathering and distributing information.

All of this has created a perfect storm against ‘books’ in the traditional sense. As a result, they are less relevant than they used to be. If people want content, any content, all they have to do is jump online. Let’s face it – traditional books are being replaced with e-books, and bookshelves are being replaced with Kindles.

Step 2: Adopting an Entrepreneurial Attitude

Entrepreneurs are creators. They search the world around them for opportunities to introduce new things. They invest lots of time and money in their ideas, and in the process, they discover niches, products, and services to capitalize on. And by capitalize I mean “make money.” These days, there is no real money in books. They are simply an old, slow, expensive vehicle for delivering content. People still want content—they just don’t need books to get it. So if content is king, wouldn’t it make sense to discover your entrepreneurial spirit and invest your resources in the people creating the content, as well as the newer, faster, more affordable vehicles for delivering it?

Step 3: Aligning with Emerging Thought Leaders

As a publisher, you have the luxury of being presented with new, fresh perspectives and ideas on a regular basis. In addition, sites like Technorati and Digg do a wonderful job of introducing you to the people behind these perspectives and ideas. Innovative minds, talented writers and industry leaders are out there begging for your attention. Give it to them. Make them your venture and capitalize on their visions by finding new ways to connect them to their target audiences.

Step 4: Focusing on Helping Authors Build Platforms Instead of Selling Books

I speak from an exceptional amount of experience on this one—it’s the foundation of my business. I have been helping authors build platforms since joining Executive Excellence in 1997 as a publicist and special sales coordinator. I continued this focus when I joined Bard Press in 1999, and then at Entrepreneur Press after that. Then in 2002 I took platform-building to its highest level by founding Promote A Book, using these platforms to create bestsellers over the past seven years. I now use Promote A Book Studios to promote authors through online videos. I now use Promote A Book Media to distribute content through permanent media placement on the Internet. And I teach platform-building blogging strategies and marketing processes as part of my Book Publishing 2.0 two-day seminar. And I’m not done yet.

Why don’t you join me in the platform-building business? Help authors and emerging thought leaders create their platforms and teach them how to market their businesses through their books. Do that successfully and ‘book’ sales are an inevitable by-product—everybody wins, including publishers!

Questions about how to remain relevant within the book industry may be directed to Michael R. Drew at the Austin, Texas, headquarters of Promote A Book: 512-858-0040. You can also contact Michael via email at michael@promoteabook.com.