Eelier in my postings, I had been clear that there were several issues that combined caused my current situation. I have talked briefly about one of them, now it’s time to discuss another one.
I have no education from a college of any type on how to run a business. Everything I know has been from practical experience in running restaurants to my own businesses in the past.
When a large publishing firm s crewed up one of my books, I was furious to say the least. That to me was the death of my book and it was from that anger that I set out to create my own publishing company.
That was part of the error, no experience in the publishing world that would prove vital to establishing a publishing company. I was therefore on a very steep learning curve that lasted four years. Thankfully, it was while the eBook generation was being created, so like many companies, I was learning the same thing they were at the same time.
One of the other issues of starting the business was not being 100% clear about the service I was offering. At first it was along the lines of a self publishing company format. Over time it grew into a traditional publishing house, with the emphasis on new authors and artist. Helping them to become their best and ultimately recovering my investment with a best seller or two. That has not come to fruitarian as I had hoped for.
Another issue was my contract. At no time had I locked any of my autho5rs into a multiple book deal. That has proven costly.
Finally the big problem that every business can find themselves in is the lack of start up funds. This has been the biggest error in starting the business.
Not having the knowledge of how to create a biz plan, and how to find investors, I have limped along from book to book. When I did expect certain flows of income to happen, but found myself in a position of scrambling when authors missed deadlines, or printers not producing the books as hired to do, and not having the money to sue anyone for their failure to full fill their contract. This last part alone has cost me to lose over $100,000 in revenue.
Not having the funds to hire an attorney is one of the most frustrating aspects I am dealing with. What happened to Lawyers protecting the common man? Forget that! If you don’t have the money to pay their outrageous fees that are monopolized by their organizations you are screwed!
Now know that I didn’t have the knowledge to create a proper biz plan, I sought out organizations that help give you the basic knowledge, but that’s all you get, is very basic knowledge. I don’t have the funds to enroll into a community college to learn about it. And I have become ever so clear that investment funds are not really available for publishing companies. Thus, I remain at square one, lack of funds.
Now that’s all the negative parts of this issue. Here is the positive. I come from a writer’s perspective. I’ve gone through the publishing experiences of self publishing and large house publishing. I know and understand what authors need and by not having full knowledge of what publishing traditions is, I can and do think outside the box. Creative ways to help market my authors and their books. Some of that works, some of it doesn’t. But, I have to be honest and admit; not having the money is THE biggest obstacle that keeps me from succeeding. And that Must and Will change. Now, I just need the economy to cooperate…lol
Life goes on…I go on.
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