Inside the Collapse: What Traditional Publishers Don’t Want You to Know About Their Imminent Demise
6. As with any industry, technical advances in that industry can make the dinosaurs in that industry become irrelevant. Why should an author wait a year or two (or more) for their book to be published by a traditional publisher when they can have their book on the market in just month, AND earn far higher royalty rates?
My Traditional Book Publishing NIGHTMARE!
I’ve told this story in the past, so I’ll make it brief. I landed a contract (with a co-author, M.J. Rose) years ago with St. Martin’s Press. We had previously self-published the book, selling multi thousands of copies. We made a LOT of money selling our book! St. Martin’s later offered us a $60K advance. Sounds great, right??? It was NOT in the end! St. Martin’s Press then had us take the book off the market while they “edited” it, etc. The editing was a NIGHTMARE. Their editor kept inserting errors into the book. Each time she would send the file back to me, I was fixing HER errors. That took MONTHS. (My co-author claimed that editor was later fired, but I did not contact that editor later to see if it was true. I was FINISHED dealing with her!) It took even longer for them to do everything else. The book was called How to Publish and Promote Online. As you can imagine, by the time the book hit the market, almost all of the information was old (irrelevant), and many of the links didn’t work. My co-author and I were so embarrassed that we didn’t promote it.
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