SMI partnerships
SMI is looking for Principal Partners with the desire and ability to curate romance and historical fiction.
SMI Structure
Before we get to the specifics of what partners do let’s delve a little into how SMI is structured.
SMI is a loose co-operative of authors, partners, and principal partners who each bring one or more skills that assist in book production. In the case of partners these might include editing, book production, cover design, formatting, proof reading etc. In the case of authors, it’s the stories they want to tell. Principal partners try and bring some semblance of order to the chaos, by teaming up authors with the partners they need to get their titles published.
Partners
Who are “partners”
Each SMI partner is, as the name suggests, a production partner for one or more of SMI’s titles. They help an author develop the title and get it ready for publishing. In return for helping the production of a title, partners are entitled to a share of the royalties from that title.
What partners do.
In short partners help with everything that the author can’t do themselves so that a title can get published.
The list is long, but may include:
- Helping the Author learn production tools.
- Story Editing.
- Line Editing.
- Cover design.
- ebook production.
- Print cover production.
- Print interior design.
- Blurb writing.
- Audio production.
- Voice acting/ Narration.
If you feel that you have some skills in one of these areas, then you could become an SMI partner.
Partner remuneration
In exchange for helping to get a title published, all the partners who were involved in a specific title are eligible to a share of the royalties coming from that title. This is important to consider, if a title doesn’t sell, then neither the partners nor the author will make any money for their efforts.
The principal partner who sponsors the title is in the same boat, but they are also responsible for fixed publishing costs as well, so they have even more at stake. They can help a specific partner decide whether they want to invest time and effort in a project, but in the end it’s up to each partner to decide if they want to contribute to a title or not.
Fortunately partners wouldn’t usually get involved in a project until the first draft is complete, so they don’t go in blind. They can use their own judgement to decide which title they think will be successful.
Royalty Share
SMI Royalty share is typically done using one of two methods.
-
Sweat Equity: This model allocates a fixed number of hours to the author for generating a first draft. Then when various chargeable production processes are performed additional hours are tallied. These are usually fixed based on the task. Once a project is complete all the hours are then combined to determine the share of royalty assigned to the author and each partner for the life of the title.
-
Deferred Charging: This model keeps track of “costs” involved in title production in a more traditional fashion. Again tasks like editing and cover design are usually fixed price. Then once a title is earning royalties, the majority goes to paying off the costs, until all the partners are paid in full then the remainder goes to the Author for the life of the title.
In general, partners working on titles using sweat equity royalty share will get paid more slowly, but will continue to make money longer, and they will possibly make more in the long run. Deferred charging will pay the partners faster, and fairly, for the work done, but no more.
Principal Partners
As well as being a partner, each SMI principal has a role somewhat like an editor in a traditional publishing company. They have responsibility for development and production for a range of titles. Together with the other principals and the CEO they also collectively make the decision as to which submitted titles SMI will include in it’s catalogue.
An SMI principal will often be an author themselves, though that’s not a strict requirement. What is required is a keen knowledge of one or more genres of fiction. They are well read in their chosen genres and have a keen eye for new and interesting stories.
What principal partners do.
A principal has three main responsibilities:
- Filtering submissions to identify new titles (finding new titles for their own range).
- Developing the titles in their range to the point of publication.
- Mentoring their authors.
Filtering Submissions
When a submission is made it will be given to all the principals that have expressed an interest in that particular genre. See the Submissions Page for what would be in a submission package. It’s the principals responsibility to evaluate the submission, and decide if they would like to work with the author on each particular title.
Developing Titles
In short principals are responsible for getting everything done that the author can’t do themselves. But that doesn’t mean the principal does it all themselves. However they will be instrumental in finding a SMI partner who can help with production tasks that the author isn’t capable of doing.
The principals goal is to help the author get their work published. Their job is to guide authors through the rather tortuous process of turning a first draft with potential into a publishable title. That may mean teaming the author up with partners who can edit, produce, or generate cover designs. Together with the Author they also keep track of all the costs and obligations incurred during title development.
In the end, together with the author, it’s the principal that recommends a title for publishing, and prepares all the digital assets required for publishing.
What do the principals get out of all this.
In exchange for filtering submissions, and for shepherding an author’s title to production, principals are paid ten percent of the royalties for all titles in their range. Like all SMI partners, principals only get paid using profit share from royalties. So it’s important that they select titles that will sell.
In addition, if a principal was personally involved in various chargeable production tasks, either for one of their own titles or for another title, then they will also be compensated for the time spent doing that work as well in the same way as any other SMI partner.
Becoming a partner or principal partner
Contact the SMI CEO at ceo@smipublishing.com or by calling the number on the contact us page. We’ll discuss what skills you can bring to help SMI’s authors.