Have you just received your first publishing contract? Good work! Receiving your first offer is a landmark in the career of any author. But, in your enthusiasm, be careful to proceed with caution. You do not want your excitement to cloud your judgment. You need to go into this with a list of questions you will ask the publisher before you accept any offer. Those answers will be crucial to your decision. A few of these questions are highlighted below for your convenience.
Question: How will I be paid? Answer: Chances are, a publisher will outline payment for you when first accepting your book, but it is important to make sure that you have as much information as possible. Learn the terminology ahead of time. They may offer a flat fee, an advance payment, royalties or a combination. It is also advised that you receive an exact amount of total payments, although this can be difficult if your payments are based on royalties, which are impacted by your book’s sales.
Question: Can I get an advance payment? Answer: If a publisher is accustomed to offering advanced payments, they will put it in the offer. With that said, not all companies do. Asking for an advance payment is one thing that many publishers come to expect, but you will want to move forward with caution at the same time. If you are in financial despair, it may be a good idea to ask a publisher about advance payments, but keep your public perception in mind. If you will be compensated a flat rate, as in contrast to royalty payments, think about waiting the few months that it will likely take for you to be paid. In fact, when you can expect to receive payment is another question that you will want to ask.
Question: Will I get free copies of my book? If so, how many? Answer: Getting free copies of your book is a good marketing option for a new author, however, it is not as important as the payment terms. New authors can gain some recognition by distributing free copies of their book to influential people in their sphere of influence. It’s also nice to be able to give free copies to your friends and family. In fact, you may want to have copies to send to them. Most reputable publishers willat least supply you with a free copy of your book, but additional copies will likely depend on the publisher in question.
Question: Will my book be published in foreign countries? Answer: The cover price for your book may be different in other countries, if so this may impact your royalties. If your book is sold overseas, you should be paid for those sales as well. By no means let a publisher persuade you that overseas sales are different, as they should pay the exact same way, although a different rate may be decided on.
Question: Will you retain the rights to your book or your characters? Answer: Read your contract carefully, you need to understand what your rights are. That is why it is important for you to thoroughly read a contract before agreeing to sign it. Be sure to ask any additional questions that you may have. For example, if the book is successful, will you be the one to write sequels? What if someone wants to turn your book into a television show or movie? This list of questions should bring to mind many other questions you need to ask your potential publisher. As a reminder, never sign a contract without knowing as much as you can about the agreement, as well as the publisher extending the offer. Make a list of questions before you sit down with the publisher. They are much better at negotiating than you are, so preparation is your best defence Make sure to do this just before you make get in touch with with the publisher in question, as it will help to ensure that all of your bases are covered and the first time.
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