What Business Book Publishers Look For in an Author

If you are involved in the business world, you know that things have gotten a lot tougher in recent years. The housing crisis, which persists to this day, along with the great recession that began in late 2008, have conspired against the business book world in a big way. In today’s challenging economy, sans Border’s, it is harder than ever to get a business book published. Many authors, particularly first time authors, ask me this key question: what do publishers look for in a business book author? Here are some answers, not necessarily in the correct order. Publishers look for:

* Super smart authors with great and original ideas

* Authors that have a great on line presence. This could mean an email list of say, 100,000 names, or a very big following on Twitter, Facebook, and other social media

* Authors with a superb Website and blog with tens of thousands of users

* Authors that give dozens and dozens of speeches per year, or host a similar number of seminars

* Authors whose last book was an unmitigated success (and conversely, publishers avoid failed authors—that is—authors whose last book has failed)

You get the idea. When you get right down to it, publishers look for authors that have the ability to sell thousands of copies of their own book. That’s because the author platform, which is determined by the answers to the aforementioned questions, often means the difference between success and failure for a book project.

Some authors then ask the next logical question: if I am going to do all of the marketing and selling, what do I need a publisher for? That’s a fair question. Publishers actually bring a great deal to the table, but of course, not all publishers are created equal (I will save that thought for another blog posting). But in the meantime, consider this: a good publisher can lend great prestige to a book, helping you to build your brand in a way that would be impossible any other way. A good publisher will also help you to develop and shape your manuscript, and come up with the right package for your book (e.g. title, cover, subtitle, chapter titles, subheads within chapters, etc.). They also do much to market and distribute your book to brick and mortar bookstores as well as online resellers like Amazon. This is true in the U.S. and around the globe. With the most popular business books, they pay for special bookstore placement in airports stores and other national chains (e.g. table placement for your book with Barnes and Noble). They also have publicists on staff that attempt to get as many mentions for your book in the print and other media, as well as book reviews, and when appropriate, radio and television interviews. Lastly, their rights departments attempt to sell your book to as many international publishers as possible, which often means additional streams of income (this is especially true with management and leadership books, as well as books on global topics).

So to sum up: publishers look for authors with great platforms that can sell tons of books. In return, however, publishers bring their considerable resources to bear to maximize your book’s potential. It is fair to say that publishing is a two-way street: however, the traffic on the road has never been more treacherous.

Permit me to add a postscript to this piece: if it occurred to you that I spent little time discussing the quality of the content of your book idea, you are not alone. After writing this posting I was struck by the fact that there was only one mention of the actual book idea. The truth is that many business publishers examine an author’s platform before closely reviewing the content of the manuscript. I think it is a sad commentary on how the business book industry has evolved. But it is also reality. It doesn’t make me love what I do any less, it just means that I have grown to be a bit more cynical than I would have hoped.

April 29, 2012 · Filed Under Book News, Business Books, Inside Publishing, LifeHacks, Management, Productivity, Publishing History, Site News, The Economy, Uncategorized

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What Business Book Publishing and the Stock Market Have in Common

If you follow the stock market closely enough you know that today’s market is a study in volatility. But that wasn’t always the case. When I bought my first stock in 1974—Gulf Resources at 14 1/4—only about 15 percent of American households were invested in the market, and trading volumes were anemic. Markets were sleepy. That changed a decade later. By the late 1980′s, despite the crash of ’87, stocks became all the rage. Everyone seemed to get in the market, volumes ballooned, and stock market investing became a global phenomenon. The great bull market, which started in 1982, continued with a vengeance in the 1990s. In fact, the great bull market that commenced in 1982 did not end until the dot com crash of 2001-2002. So how is the stock market like the business book market?

The great bull market in business books also started in 1982 with the publication of Peters’ and Waterman’s In Search of Excellence and Ken Blanchard’s The One Minute Manager. From that point on business books became a booming industry, with many of them, including the two aforementioned titles, gracing The New York Times Bestseller List. However, like the stock market, business books were not new. The father of modern management, Peter Drucker—who I devoted an entire book to in 2009—had been writing a whole genre of business titles since 1946. However, there was a vast difference between Peter Drucker and Tom Peters, co-author of In Search of Excellence. Peters was considered cool, a by-product of a new era in which CEOs were the new American heroes (think Lee Iacocca and Jack Welch). Business books, like stocks, were no longer considered to be something for only a slim slice of the population. Business books were now considered hip, and they seemed to be everywhere. They even became fodder for cocktail party conversation.

Fast forward to today: in 2012, volatility in the stock market—as measured by something called the VIX index—has become the norm. The financial markets are characterized by turbulence. The same is true for business book publishing. The demise of bookstore chain Border’s has been a great loss for the publishing industry. There are now fewer places to “place” books, which has had a chilling effect on the book business (in all genres, not just business books). In addition, the proliferation of free information on the Internet and the fragile state of the U.S. economy has made business book publishing a very tumultuous industry. Layoffs have become the norm in book publishing (and on Wall Street). Perhaps the greatest comparison between the two industries is its unpredictability. No one knows what tomorrow will bring. Who could have known that Border’s would fold and Amazon would emerge as a major book publisher? Who could have known that eBooks would become such a major force in the industry after starting out in the 1990s as a major flop? The stock market and the business book market have one more important link: they tend to move together. Business book sales rise when the stock market goes up. It’s a case of rising tides lifting all boats.

I could go on, but you get the idea. One thing is for sure: both turbulent industries will bring us plenty of surprises in the months and years ahead.

April 20, 2012 · Filed Under Book News, Business Books, Inside Publishing, LifeHacks, Management, Productivity, Publishing History, The Economy, Uncategorized

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Make Sure to See the Whole Court

Continuing with the tennis analogy employed in THE UNFORCED ERROR, as in tennis, people in business need to be sure they have a clear view of the court at all times.

Aerial view of empty tennis courts

When I say the whole court, I mean the entire playing field that serves as the backdrop to our jobs and careers. When I go out and speak to groups, I warn them about getting tunnel vision or “cubicle vision.” I tell them that it is not enough just to see what is going on in their own departments. They need to see what is going on with their unit, different parts of the company, competitors, the operating environment, etc. Only then can you get a clear picture of how well you and your company are doing, and more important, only then can you take meaningful steps to make things better. In these very tough times, with a national unemployment rate hovering at about ten percent, few of us can ill-afford to be caught off guard by a situation that we simply did not know about because we were too lazy to do our due diligence.

For example, say you work in the marketing department of a food and beverage company. You get good performance reviews, and morale in your department is fine. However, what you are not aware of is that parts of the sales department is in ruins. The company laid off 20 percent of the department because sales for the Eastern region fell off a cliff. As a result, the company is going to have to make job cuts across the board, which includes your department. Had you known, you might have stepped up your game knowing what was at stake; and you could have been better prepared to search for a new job knowing that yours was on the line. In this extreme scenario, you would have to be a real ostrich to get caught this much off guard. But this stuff happens every day in organizations.

Most other situations are a bit more subtle. For example, you may be a salesperson in that same company and not know that your biggest customer is in real trouble, endangering the business that you do with them. Their sales make up more than 15 percent of your [individual] total sales budget, so not knowing that they may shut down their doors could also cost you your job. That example isn’t all that subtle either, but you get the idea.

When things are as tough as they are now, with unemployment rates so high, you must constantly work without blinders. The risk for failing to do so is simply too high.

November 4, 2009 · Filed Under Book News, Business Books, LifeHacks, Management, Productivity, Site News, The Economy

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Don’t Hire on Resume or CV

In the last post I talked about people you should not hire. Here we will do a 180 and talk about the people you should. Herb Kelleher, the founder of Southwest Airlines, was all about attitude and creating an organization that fostered a positive, upbeat atmosphere. He felt strongly that people could be trained, and urged managers to “hire good attitudes even when the people with bad attitudes have superior degrees, experience and expertise.” He also felt that people should be allowed to be themselves at work. No employee should ever have to put on a “work mask,” he once told me in a written interview.

Happy business team Research and experience shows that Kelleher is right. Choosing someone because of an impressive resume over an individual with a winning attitude can be a huge unforced error.

How do you know how to spot someone with the right stuff?

I have always looked for people with character—individuals with the DNA that allows them to put the company above themselves. That’s often the difference between a good hire and a bad hire. People with personal goals often go the extra mile when the company needs them most.

There are other ways to discern the out-performers from the laggards. Trusting your gut is usually a good idea, especially if your gut has served you well in the past. Or, perhaps you have heard from multiple constituencies (e.g. customers, colleagues) that this individual is not a team player. If you need a formula to identify top notch people, consider one of my favorite Jack Welch management models. People with good attitudes are also more likely to have his “4E’s of Leadership.” What are the 4E’s?

Energy—people who go at 75 miles an hour all the time. Energize—are those managers that fire people up. Edge—managers with edge know how to make the tough decisions and avoid the maybes, and Execute—those managers who deliver results. Hire the people with the right attitude, people who score high on the E to the 4th scale, and you are far more likely to reap the benefits of a great manager or employee. Hire on the basis of resume—which reveals little about someone’s “E” quotient, and you may find yourself having to clean up a huge mess somewhere down the line.

Want to know more on what to do and what to avoid in the workplace? The Unforced Error, my new book, is now available at Amazon and at all good bookstores.

October 19, 2009 · Filed Under Book News, Business Books, LifeHacks, Management, Productivity, Site News

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You’re Not Fired…You’re Eliminated

In the last post I introduced my upcoming book, The Unforced Error. The book is intended to pin-point those landmines which often blow up people’s careers. In the weeks ahead I will be including examples of unforced errors in business addition to the postings I write about business book publishing. As in the book, the majority of stories will be based on actual scenarios I witnessed firsthand.

One of the things I learned early on is that big corporations hate to fire anyone. That’s because every firing is a potential lawsuit and big companies hate lawsuits more than anything. Organizations often go out of their ways to keep the truth from the employees they ask to leave. In fact, in most organizations, the Director of Human Resources (HR) is not there to help you, the employee, but to protect the company from that next potential lawsuit. That’s why, if you are fired from your company, it is more likely that HR and your manager will present a united front and tell you ”we have eliminated your position” rather than tell you the truth (e.g. you are a greater liability than an asset and you are not worth the salary we pay you anymore).

youre-fired

If you are told the truth, and fired for cause, then it is because the company has a thick file of transgressions which clearly shows how you have not measured up to a certain minimum level of performance. Big companies love big files because these contain the ”proof” that you deserve to be fired (which of course mitigates the chances for a successful lawsuit against the company).

Conversely, strong, loyal performers almost never get laid off. In Darwinian fashion, companies almost always find a way to keep their best, most effective people. To reduce the chances that you and your job will be eliminated, find ways to make yourself indispensable (although no one is truly indispensable). If possible, get a job in which the revenue you produce can be measured. Or help your boss to achieve his or her goals; if the person up the food chain makes her goals, then the need to eliminate someone decreases proportionally. Also, never be a lone ranger. It is much easier to fire someone who does not get along with colleagues than it is to eliminate an authentic team player.

And don’t make it easy for your company to fire you. If you are one of the company’s most productive people then management will have little incentive to get rid of you. And keep your pulse on your unit or department. You want to make sure that you know how well you are regarded. Otherwise, you may be blindsided. And getting blindsided in a tough economy is a situation you want to avoid at all costs. At least if you know what is coming you can take some proactive measures that might help you find that next job before you actually need it.

October 5, 2009 · Filed Under Book News, Business Books, Inside Publishing, LifeHacks, Management, Productivity, The Economy

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When is the Best Time to Publish a Business Book?

I often get asked “when is the best time to publish a business book?” It’s a great question. Every author wants to exploit any advantage the marketplace allows. However, while I do not think there are any real silver bullets when it comes to timing publication of a business book, most of the assumptions about the best month to publish have endured for decades.

For as long as I can remember publishers have chosen the fall to publish their biggest business books—particularly in September and October. For example, Jack Welch’s Memoir, Jack: Straight from the Gut, was published in September (unbelievably, it was published on September 11, 2001). Jim Collins multi-million bestseller, Good to Great, was published in October of 2001, just a few weeks after the Welch book. So, too, was the $7- million Warren Buffett book published in October of 2008 (The Snowball: Warren Buffett and the Business Of Life).

Not all fall months are great publication months. Late November and December are often bad months for business books, since Thanksgiving and Christmas can derail the effective distribution of a business book. That’s because most business books are not regarded as gift or Christmas books. Coffee table books, new best-selling fiction or big biographies are much better candidates for the holiday season. There are of course exceptions: big personality books in business can see a big spike in sales in December, as can other business books that appeal to a certain segment of a market (avid investors like day traders may find a trading book under the tree on December 25th).

The other great month for business books is January, and for similar reasons that make September so desirable. People make New Year’s resolutions in January that often involves money, which makes January a good month for personal finance books. Similarly, September is strong because of the whole back-to-school mentality in which people return from their summer vacations eager to learn and enhance their skill sets.

Lastly, summer was always regarded as the worst time to publish a business book. But that is becoming more myth than reality, particularly in this tough market environment. Few managers take long vacations these days and when they do, they might take a business book to the beach. However, most executives are still far more likely to read Tom Clancy than Tom Peters on those rare vacations far away from the home office.

September 23, 2009 · Filed Under Book News, Business Books, Inside Publishing, LifeHacks, Management, Productivity

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Don’t [Mis]Represent Yourself as a Client

Like a defendant who represents himself at trial, representing yourself [as an author] ensures that you, too, have a fool for a client.

Corruption In today’s turbulent, hyper-competitive publishing world, authors should not try to navigate the ins and outs of it all without the benefit of a literary agent. A competent agent can help an author from the idea stage to finished book. This includes everything from drafting the book proposal through the negotiations with various publishers to the preparation of the manuscript itself. And these are just the obvious contributions.

As someone with editor, publisher, author and agent on his resume, I have had a front row seat to the literary world from every vantage point. As an author, I can honestly say that I would never write a book without the benefit of an agent. This isn’t rocket science – just good sense. In addition to all of the aforementioned, an agent handles the thornier things that can possibly derail the relationship between author and editor.

So the next time you think of handling your own business book project by contacting publishers directly, stop and reconsider. Chances are you will be glad you did.

September 14, 2009 · Filed Under Book News, Business Books, Inside Publishing, LifeHacks, Productivity

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When Idealism Meets Pragmatism

Barack Obama came to Washington with a significant mandate, having won more votes and states than any presidential contender since Clinton beat Dole. Of course, Obama’s victory was historic, which we are reminded of this week, the 200-year birthday of Abraham Lincoln. To Obama’s credit, despite the historic proportions of his win, he knew he would have no honeymoon. The worst recession in decades guaranteed that. ”That we are in the midst of crisis is now well understood, asserted Obama in his inaugural address, adding “Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time.”

The newly minted president knew that he had one huge priority that would take precedence above all others, and that was trying to stop the hemorrhaging of money and jobs.

But in only 25 days, many of the hopes and dreams of our 44th president have met the stark reality of…well, reality. Here are a few examples:

* After talking about the most bi-partisan presidency of modern times, not a single Republican voted for his stimulus package the first time it came up for a vote in the house, and only three Republicans voted for it in the senate. Republicans seem determined to fight Obama at every turn, despite all of the rhetoric from the right side of the aisle promising their own version of bipartisanship.

* He has had a rocky time with nominees: One of two-tax-troubled appointees had no choice but to fall on his sword (Tom Daschle). His other under-tax-paying nominee, Treasury Secretary Tim Geithner, the man without a plan, was laughed off Wall Street this week when his presentation rang hollow. But few were laughing when his vacuous ideas sent the Dow plumetting almost 400 points. Then yesterday, with no notice, Obama’s second choice to become commerce secretary—fiscal conservative Republican Judd Gregg—quit without a fight, embarassing the administration one more time (Governor Richardson also withdrew for the same post).

* His stimulus plan has been stripped of billions in green jobs, health care, and other things Obama promised:In their place were put more tax cuts for the wealthy. One of the factors that led to the serious revisions was Obama’a decision to allow members of Congress to draw up the original legislation. Had the While House kept control over it from the outset, many argue that the president would have been able to keep much more of what he wanted by doing more effective horse trading. The result was a study in “amateurism,” insisted one critic.

Now that Obama’s administration has come up against forces and events greater than it anticipated, will we have a less idealistic president? I think so. The kind of challenges that Obama has already confronted—and those yet to come—have a way of clarifying the mind and shifting priorities. For example, going into the stimulus plan, Obama had hoped to get more than 80 votes in the senate, and surely more than the zero he received the first time out in the House.

However, while I am a big believer in idealism, I am an even bigger believer in pragmatism. Especially in these incredibly difficult times. We simply cannot afford idealism at a time when our own president has designated the state of our global economy as the greatest threat to our national security.

February 13, 2009 · Filed Under Book News, Inside Publishing, LifeHacks, Management

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Who—in your Organization—Controls Your Future?

What follows is a rough excerpt from my new book, coming out in the fall—about how some managers get promoted while others fail to survive. I look forward to your feedback.

In an earlier post, I talked about how being a strong #2 to your boss can be a great work strategy to get ahead. I have approached my job with that mindset for many years and it has worked well for me. However, what if your boss does not control your future?

Being a strong #2 assumes that you have a strong boss, meaning that that he or she is smart at setting priorities, knows how to hire, fire, delegate, manage up, manage down etc. But what if you have an incompetent boss or worse, a toxic one? Someone who beats up on his people, uses employees as pawns, has a bad temper, and never seeks out the opinion of his direct reports? In this case, it is very difficult being a strong #2, and in any event, who wants to work for such a person, never mind helping him to succeed?

But let’s take a step back and get a broader view of your entire workplace. You need to know who the real decision-maker is, who makes the real calls on your future. In sports there are referees and line judges. In the world of work, things are often far murkier.

It may be that your boss has no power at all, having no real power or ability to make a decision. Your boss could simply be clueless, someone who got promoted because of a technical expertise, not out of any managerial know-how (that’s why there are so many ineffective managers out there). Or it could be that his boss is a micro-manager, using your boss as no more than a puppet.

The key is to figure out who the real “decider” is, and to do that, you need to find out who holds the greatest influence over your boss. In several companies I worked for, my boss’s boss was the one who made the greatest decisions affecting my life—and the life of my direct reports. And often you do not figure this out until something happens, some event that causes your boss to show his cards, so to speak, where you can get a more complete picture of what is really going on inside your organization.

Or, your boss might indeed make the call, but listens to people that would shock you. I’ve worked for managers who listened to their peers (which makes sense in many instances), but also to people levels below them. That could be a positive development, but not if the boss is playing one person off of another, causing one manager to bad-mouth his peers. I have seen situations in which back-biting, turf wars, and petty politics are permitted to triumph over what should take center stage: competence, loyalty, and the ability to put company goals above personal goals.

If your company more closely resembles the back-biting one with petty politics, then you might want to seriously consider a move to a different company. That’s because an organization which permits such God-awful behavior is much like a dead fish—it stinks from its head. In my experience companies that have such managers not only tolerate such behavior, they know about it and are complicit in it. You probably cannot make a move now, in the midst of such a serious recession. But when things look like they are turning around, get ready to make a move. I know is is difficult to ponder such a huge change, but it is necessary. Have your resume in order and compile a short list of organizations that you would like to work for. Believe me, there isn’t much of a future in turf wars and pettiness.

February 10, 2009 · Filed Under Book News, Business Books, Druckerisms, Inside Publishing, LifeHacks, Management

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