Archive for September 21st, 2009:

Storm clouds remain heavy over New York publishing, but the sun is shining in Austin, Texas, where Greenleaf Book Group is turning the industry’s traditional business model on its head: instead of counting on a few blockbuster titles to compensate for insufficient sales across much of their catalog, the company expects each title to earn its keep. Greenleaf offers no advances and requires authors to cover their own production costs. In exchange for assuming this risk, authors retain the rights to their work and receive a substantially bigger cut of the royalty on each copy sold. If a book sells well, the author wins; if it doesn’t, he or she absorbs the loss but is free to walk out the door.

Not just a glorified vanity press, Greenleaf has built a strong brand identity by accepting only about 3 percent of the submissions it receives. The lucky (and apparently promising) few benefit from Greenleaf’s reputedly excellent marketing and distribution services, selling on average between 3,000 and 5,000 copies in their first year. According to a profile in the September 7 issue of Forbes Magazine, the ten-year-old company saw revenues increase by 37 percent to $8.1 million in 2008 and is on course to exceed $9 million this year.

Check out the article to read how it all began in 1997, when founder Clint Greenleaf (then a rookie at Deloitte and Touche) decided to put out his own 30-page grooming handbook, Attention to Detail: A Gentlemen’s Guide to Appearance, to prove to his friends that writing a book is—well, just not that hard.

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