My Literary Coach announces a new service and strategy for aspiring fiction authors who have a manuscript, but no agent or traditional publisher—which pays publication costs and gives authors a royalty on all sales.
“The problem most new authors have is this: their manuscript is a good first draft. Unfortunately, when an author approaches a literary agent, the author is claiming that his or her manuscript is ready for publication,” Timothy Staveteig, editorial director, said. “For those authors whose manuscripts have sufficient potential, we will help them rewrite their manuscript and proposal materials.”
Then the book is issued in the Kindle format with literary agent contact information. Authors build a sales record to show novels’ viability.
“Kindle commissions from Amazon to the author can rival royalties paid by traditional publishers. A $2.99 Kindle book sold exclusively through Amazon yields about a $2 commission. A $20 paperback at a traditional publisher sold through a bookstore, can pay only $1 to $1.50. Yet, many authors desire the thrill of seeing his or her title in a bookstore.”
Literary agents releasing a Kindle version is not a new process, Staveteig pointed out. What is new is that the literary agent fees—typically 15 percent—are not assessed on Kindle sales, but only when the author’s book is placed with a traditional publisher.
My Literary Coach charges fees for its two options: mentoring or done-for-you services. Most of the author expense comes in rewriting the manuscript and book proposal materials. Charging these fees conforms to the Association of Authors’ Representatives, Inc., canon of ethics, canons 3 and 8.
“The most frequent question is, ‘Why not use Amazon’s CreateSpace to produce and sell paperbacks?’ The reason,” Staveteig said, “is to keep the bookstore sales for the traditional publisher.”
My Literary Coach and My Book Agent are doing business as entities of My Book Editor LLC, incorporated in 2009 in Ohio. Phone 888-317-7270. Timothy Staveteig is president and CEO of the corporation. Prior he was a book acquisitions editor for 23 years, acquiring and editing over 1,200 titles.