gp-badge-selectGoldfinch SELECT

Do you have a manuscript that’s destined to become a published book? Have you been rejected by one (or all) of the big publishing houses, who are increasingly hesitant to take a chance on a new or unproven author? Despite the odds, would you still rather seek out a traditional publishing contract rather than have to learn the ins and outs of publishing on your own?

If you’ve answered “yes” to these questions, I’ve got good news: Goldfinch SELECT.

For special authors that we hand select, we’re curating the entire publishing process, cultivating new work with professional editing, cover design, author platform, and promotion – at no charge. Rather, Goldfinch SELECT uses the “agency” model, like Apple, Amazon, and many others: 50% of sales covers our costs and our own profit, and our authors keep the remaining 50%, for a three-year term. Cha-ching! (Amazon, B&N, iBooks, etc. take their percentage first, of course.)

So if you want the very best of the traditional publishing model — the ability to concentrate on your writing, and leave the publishing to someone else, all with NO FEES — then Goldfinch SELECT is for you.

The first step? Submit your work. Go to the Submissions Page

“Will my experience be like going with a big publishing house?”

Not exactly — I hope it’ll be even better! Like a traditional, larger publisher, you’ll be assigned a professional editor, professional designer, and a project manager (in some cases that might even all be the same person!). You’ll go through rounds of edits, cover and promotional copy review, and we’ll handle all the production and distribution.

Here’s where it’ll be different (and I think better): with large publishers and new authors, very little attention is paid to building your PLATFORM. Your “platform” (the current industry buzzword, btw) is the plan and method you use to build an audience and interact with them. There are online tools, like a blog, email, and social media, and there are offline tools, like your role as an expert in your community of interest (running a book club, speaking at your local library on gardening, etc.) We’ll help you actively build and cultivate your platform to maximize your audience — and have fun doing it!

Also, because we have a stake in how much money your book makes, we’ve got a big incentive to help you promote that book on an ongoing basis.

Another difference? You keep more of the profit! (See cool chart below.)

“What about my advance?”

Okay, that’s different than traditional publishing too. You don’t get an advance with Goldfinch SELECT. But here are a couple of things to know about advances:

  • An advance is deducted from future sales. Your book must sell a certain number of copies to break even and begin making you additional money. (For example, if you receive a $10,000 advance, you would need to earn $10,000 in royalties from the sales of that book before receiving any additional income from it.)
  • In larger publishing houses, advances for new authors are getting lower and lower. Like single thousands low. Now think about all the work you’ve put into your manuscript. As novelist Walter Kirn told the New York Times, “A low advance has allowed me to work at less than minimum wage for three years.” And this is coming from a well-known author!

What am I offering in place of an advance? NO FEES and 50% OF SALES. And that is MUCH different than the big publishers. Take a look at this comparison for my imaginary book, Room With a Few:

Type of Publisher Advance Publisher Fee
(Author pays)
Royalty
Rate (Print)
Royalty
Rate (Digital)
Book Price
(Print)
Book Price
(Digital)
Number of
Books Sold
Royalty
(Print)
Royalty
(Digital)
Net Profit
to Author
(after seller cut)
Traditional Publisher $6,000 $0 8% 20% $11.99 $7.99 6,000 $2,878 $4,794 $233 (after break even)
Independent with Fees $0 $10,000 30% 30% $11.99 $7.99 6,000 $7,554 $3,237 $10,791 (after fee)
Goldfinch SELECT $0 $0 50% 50% $11.99 $7.99 6,000 $12,590 $5,396 $17,986

(Advances and royalty rates averaged from brendahiatt.com. Number sold assumes equal split between print and digital.)

So with a traditional publisher and a typical new-author advance of $6,000, you earn an additional $233 (for a total of $6,233) if you sell 6,000 copies. With Goldfinch SELECT, you didn’t get an advance, but you earned $17,986 for selling the same number of books. Makes you think, huh?