Coffee N°5 with Lara Schmoisman: Writing the Right Way – Book Publishing Wisdom with Meghan Stevenson

Released on April 29, 2025

In the latest episode of Coffee N°5, host Lara Schmoisman sits down with Meghan Stevenson, a seasoned book publishing strategist, to delve into the intricacies of the publishing world. The conversation offers valuable insights for aspiring authors, entrepreneurs, and business leaders looking to navigate the complex landscape of book publishing.

Introduction

Lara Schmoisman opens the episode with a warm welcome to Meghan Stevenson, expressing her excitement to discuss the art of writing and publishing books. She reminisces about her love for reading and the joy of engaging with books, setting a relatable tone for listeners who dream of authoring their own works.

Lara Schmoisman [00:00]: "Who ever or who never ever dreamed of writing a book? A book. Avid reader. I love books."

Meghan Stevenson's Journey in Publishing

Meghan Stevenson shares her early passion for reading, highlighting her rapid reading pace during childhood, which often led to diminished comprehension. This love for books naturally transitioned into a career in publishing, where she spent eight years at major publishing houses—four years each at Penguin and Simon & Schuster—before venturing out on her own to better advocate for authors.

Meghan Stevenson [01:32]: "I worked for the big book publishers in tandem. I'm not trying to replace them at all."

Meghan discusses the challenges of working within large publishing houses, where advocating solely for authors can be limited by employer constraints. Her entrepreneurial spirit, inherited from her parents, propelled her to establish her own venture, enabling a more author-centric approach.

Exploring the Publishing Landscape

The core of the conversation centers around the three primary publishing models: self-publishing, hybrid publishing, and traditional publishing. Meghan provides a comprehensive breakdown of each, elucidating their unique advantages and drawbacks.

1. Self-Publishing

Self-publishing empowers authors with complete creative control, allowing them to manage every aspect of the book's production and marketing. However, Meghan cautions that this route demands significant effort in project management and financial investment, as authors must freelance professionals like cover designers and editors.

Meghan Stevenson [06:30]: "The worst people just throw up a word document that's full of typos and a terrible cover and call it a day."

She emphasizes the importance of marketing, noting that successful self-published authors invest heavily in promoting their books to reach their target audience.

2. Hybrid Publishing

Hybrid publishing combines elements of self-publishing and traditional publishing, often requiring authors to invest financially upfront. This model offers professional project management and higher-quality production but comes with substantial costs ranging from $25,000 to $100,000.

Meghan Stevenson [09:46]: "They are usually anywhere from $25,000 up. I've heard anything from $25k to $100k."

Despite the benefits, Meghan points out that hybrid-published books rarely make it to bestseller lists or major bookstores, as traditional publishers maintain control over distribution channels.

3. Traditional Publishing

Traditional publishing remains the gold standard for authors seeking widespread distribution and industry recognition. Meghan outlines the process, stressing the necessity of having a robust platform and engaging a literary agent to secure a book deal.

Meghan Stevenson [14:56]: "I only work in traditional publishing now... I still think traditional publishing is the best for the entrepreneurs and experts that I work with."

She explains that traditional publishers evaluate a book's potential based on the author's existing audience and marketability, making the platform a critical component for success.

The Role of Literary Agents

A pivotal aspect of traditional publishing is the involvement of literary agents. Meghan details how agents act as intermediaries between authors and publishers, advocating for their clients' best interests and negotiating favorable deals.

Meghan Stevenson [11:48]: "Traditional publishers do not accept what we call unsolicited submissions."

She outlines the criteria for selecting a literary agent, emphasizing the importance of passion, trust, and the agent's ability to handle both legal and financial matters effectively.

Meghan Stevenson's Services and Clientele

Focusing exclusively on traditional publishing, Meghan's firm aids entrepreneurs and experts with substantial platforms in securing book deals. Her clients typically boast large followings and established businesses, positioning them as attractive investments for traditional publishers.

Meghan Stevenson [12:56]: "I only work in traditional publishing now... because the entrepreneurs and experts I work with are at the top of their game."

She highlights her team's collaborative approach, working closely with authors and agents to develop compelling book proposals that resonate with publishers.

Advances and Platform Requirements

A significant portion of the discussion revolves around book advances—the upfront payments authors receive from publishers against future royalties. Meghan elucidates the mechanics of advances and their dependence on the author's platform.

Meghan Stevenson [19:07]: "It's called an advance because it's an advance on earnings."

She explains that publishers assess an author's audience size to estimate potential book sales, influencing the size of the advance offered. Meghan provides a formula to illustrate this relationship, stressing that a sizable platform is essential for securing substantial advances.

Success Rates and Guarantees

Addressing concerns about success, Meghan shares impressive statistics from her firm, boasting a 90% success rate in securing book deals and a 100% success rate in obtaining literary representation for their clients.

Meghan Stevenson [27:07]: "Last year, 90% of our clients got book deals. There was one author who did not. And 100% of them got agents."

However, she clarifies that while high success rates are achievable, they are contingent upon authors making sound decisions and maintaining their platforms.

Timeframes and Strategic Planning

When asked about realistic timelines for writing and publishing a book, Meghan suggests a three-year period as standard within the traditional model, potentially extending to five or seven years if audience growth is required.

Meghan Stevenson [31:43]: "It's usually three years. And I would add an extra five to seven years onto that if you need to grow your audience."

She advises authors to utilize this time for developing their platforms and refining their content, ensuring that their books meet the high standards expected by traditional publishers.

Common Pitfalls and Best Practices

Meghan warns against the common mistake of rushing to publish without adequately establishing a platform or ensuring the book's quality. She advocates for focusing on audience needs and investing in consistent, value-driven content creation over seeking immediate publication.

Meghan Stevenson [29:51]: "The number one thing I see is people rushing to publish."

She encourages potential authors to prioritize understanding and serving their audience, which ultimately leads to more successful and impactful books.

Conclusion

As the episode wraps up, Lara and Meghan emphasize the importance of patience, strategy, and audience engagement in the book publishing journey. Meghan reassures listeners that while the process is rigorous, a well-crafted approach can lead to significant rewards.

Lara Schmoisman [34:23]: "Thank you for having coffee with me and for sharing all this information... I feel ready to write a book."

Meghan invites aspiring authors to take her firm's quiz to assess their readiness for traditional publishing and offers a referral list for those pursuing alternative publishing routes.

Meghan Stevenson [35:13]: "There's always... recommended resources at the quiz when you 'fail out' of it."

Key Takeaways

• Understanding Publishing Models: Authors must carefully consider whether self-publishing, hybrid publishing, or traditional publishing aligns with their goals and resources.

• Building a Strong Platform: A substantial and engaged audience is crucial for securing book deals and advances from traditional publishers.

• The Importance of Literary Agents: Agents play a vital role in navigating the publishing landscape, advocating for authors, and facilitating book deals.

• Strategic Planning and Patience: Writing and publishing a book is a lengthy process that requires strategic planning, especially within the traditional publishing framework.

• Avoiding Common Mistakes: Rushing to publish without a solid platform or neglecting audience engagement can hinder an author's publishing success.

For those inspired to embark on their own publishing journey, Meghan Stevenson's expertise offers a roadmap to transforming business ambitions into tangible, published works. To learn more or to assess your readiness for traditional publishing, visit Meghan Stevenson's Website and take the recommended quiz available in the episode notes.