A couple of days ago the SPIF zero-interest loan idea evolved into something that may be even better – a way for authors to directly raise their own funds to pay for professional help with finalizing their book. Here’s a rough idea of how it works:
- Salt River reviews the book and the author’s proposed budget for necessary professional help. If the editors feel the book has potential, SRP agrees to publish it (pretty much as is) under our New Moon Books imprint. The author and SRP would together come up with $100 (SRP loan to be repaid with book sales) so the author can pay for a simple interior design and cover design.
- New Moon Books (a special imprint of Salt River Publishing used for books on the ShoeString Program) are sold on the author’s createspace estore webpage – and could also be listed at amazon and linked to any other website, at the author’s discretion.
- The author promotes their book among friends, in direct sales, and in any other way they come up with. Buyers understand they are buying a book-in-the-making. They pay to buy the book, yes, but above all they are encouraging and supporting the author in taking the book to the next level of excellence. The author may decide to set the retail price on the high side, explaining to friends that this is a way to raise funds to cover editing charges of a final edition.
- If the book takes off, as is, the author is free to continue making it available as a New Moon Book.
- Otherwise, the author uses the income generated to pay for professional help in editing, interior book design, cover design, etc.
We’re mulling the idea over and may give it a trial run with one title, just to see how it works – and what doesn’t work. The author and the buyers will hopefully help the idea evolve with their feedback and suggestions.
What we like about the idea is that it depends on the author (rather than on a rather large loan they have to somehow repay), and the funds are generated by getting the author’s book out to the public (which is the author’s goal in any case).
Onward and upward!
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