Of Money and Mouths- Joining NetMinds

I have a lot to say about the future of publishing. Having published 4 books (so far) with mainstream publishing, I’ve also done my share of self-publishing, alternative publishing, and more. I believe the landscape of publishing and media making is as fascinating as it’s ever been, and that there are so many new ways to make publishing work for both authors and readers.

I’m really excited to be partnering with NetMinds in an advisory role. With bright stars like Tim Sanders (pictured here at left) and Alan Baker behind it, I know that this company has a real shot at taking on the challenges and opportunities of a whole new model for getting a book made.

The concept takes a bit of unpacking, but I’ll let you check out NetMinds for details. The press release that went out today says, “Net Minds leverages a digital networking and publishing platform to build invested teams around book projects. The company is solving the quality/autonomy problem present in book publishing. There are currently over a dozen Net Minds Select book projects in production, including works by Nolan Bushnell (Atari) and Robert Tercek (MTV and Oprah Digital).”

I forgot to ask Tim if I can talk about my other project with them, so I won’t just yet.

But What About Traditional Publishing?

I must be really clear: I don’t intend to trash traditional publishing. One of my friends is the head of business publishing at Wiley. I have a new edition of a book coming out from Que (once I get my head around a million changes), and I love my editor there. I have a new book coming out with Penguin Portfolio in a month, and I’ve appreciated working with our editor there. I’m not going to trash them. I think there’s a spot for mainstream publishing and that disruptive models like the one we’re pursuing at NetMinds will somewhat be grafted onto the traditional players at some point (if all goes well).

Group Publishing, which is the NetMinds model, is fascinating because it works on the concept that everyone has a stake in the book’s success. At NetMinds, you get a ton more of your royalties, which you then share with the team you bring together to build your book. Thus, if you have an editor, you might give her 10% of your royalties on the book. Ditto the designer, etc. So, you start with 70 or 80% of the royalties, and you dispense them as you see fit. Co-author? No problem. I think that’s part of what makes it cool. The other part is distribution.

Traditional publishers have built very long and meaningful relationships with distributors. But we all know that the landscape for book distribution has changed a great deal. Borders is gone. Barnes is still reworking their model. Books-a-Million is working on growing into some of the gaps. Hudson has a near lock on the US Airports. But there’s so much more going on. Digital publishing is huge. Bundled SKUs is huge. There’s a lot to look at. But I’m sure I’m losing some of you at this point, so I’ll shut up about the guts of it all.

Part of the Plan

In my post, Where I’m Headed, I talked about working on human business. What’s more human than group publishing? I talked about bravery. You’ll see that reflected in what I do with NetMinds. I talked about storytellers. Well, that’s self-explanatory.

Again, I’m an advisor here. They’re letting me play with the toys. But this isn’t a full time job. It’s a passion that fits well with what Human Business Works is out to promote: sustainable, relationship-minded business.

And that, as they say, is all he wrote. I’m in. Check out NetMinds

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http://raulcolon.net/ Raul Colon

Interesting to see how the possible breakdown of royalties if you create a book with Netminds. I am not too familiar with book publishing but I think this structure might help many get their projects going.
- http://chrisbrogan.com/ Chris Brogan
  
  Exactly so. There’s a lot of opportunity in this. : )
  - http://raulcolon.net/ Raul Colon
    
    When I get enough inspiration I might want to write a book on something! :)
Bob @ Decks

I agree with Raul here. The distribution of royalties and the overall control that an author with NetMinds would have is quite intriguing. This will be a definite selling point for authors. I’m nowhere near versed in the publishing world, but if I were seeking a means of publication, I would gravitate towards this model. Thanks!
- http://chrisbrogan.com/ Chris Brogan
  
  Typical publishing deal: 10% royalties for authors. For NetMinds: 70-80% royalties, and then work from there. That’s probably the biggest part to know. : )
http://profiles.google.com/david.kowarsky David Kowarsky

Congratulations on the Gig, CB. I’m quite intrigued by the model. Will be advising some of the Grovo writers to have a look.
- http://chrisbrogan.com/ Chris Brogan
  
  Very cool, David. Thank you. : )
dianebrogan

Congratulations Chris! This is so exciting. NetMinds is an amazing project. I am proud that you a part of the project!
- http://chrisbrogan.com/ Chris Brogan
  
  Thanks, Mom! : )
  - http://raulcolon.net/ Raul Colon
    
    I always have to smile when I see these interactions a big hug to both!
http://twitter.com/LFrank_MA Lisa Frank

What a great concept -nonfiction publishing only or does the team think this may be viable for a fiction project as well? One type of book that would be fascinating to see come together is a ‘coffee table book’ with pictures from all across the world. Can’t wait to see how it all unfolds!
- http://chrisbrogan.com/ Chris Brogan
  
  I think it should work for both. I *believe* they’re doing nonfiction first. I guess I should ask. My “them” is actually a “we.” : )
Linda Wilson

Good evening, Mr Brogan!

What an interesting introduction, thank you.
Having checked out the website, I see the ‘they/we’ are people in publishing who actually speak plain English. Such a refreshing change.
For anyone who is toying with the idea of writing a book – or has toyed and lost confidence – reading the NetMinds blog is an extremely good starting point for turning the ‘toy’ into a realistic action plan.

With kind regards,
L
OBVAVirtualAssistant

Hi Chris, I just checked the site Netminds. Congratulations!! As you have said below there is actually a lot of opportunity in this. Good luck!!
http://kaleidico.com/ Bill Rice

This is awesome news! I think the NetMinds concepts sounds very cool.

But, this just adds to the question I hear everyone talking about: “I’m a new author, which route do I go to try publishing my first book.”
Okay, that might have just been me talking ;-)
http://www.facebook.com/jimkukral Jim Kukral

I can’t tell you how happy I am to see this Chris. These types of hybrid publishing companies are the future, and frankly, are exactly what the traditional publishers should have offered a while back, but we both know that blows up their archaic business model and they aren’t going to do it.

I recently used another hybrid firm to launch my wife’s first book. It was a pleasant experience that was heavily weighted to the author (as it should be). Looking forward to seeing what kind of projects you create with Netminds. Hopefully I can be a part of one of them.
http://phylliskhare.com/ Phyllis Khare

Closed Alpha. I’d love an invite.