May 19

May 19 Episode #199: Business Financials!

Grace and Alvina talk details about how the process of business financials work in book publishing, including how the budget process works, and what different business philosophies might be.

200th Special Episode!

We'd love to do an "Ask Us Anything" as part of the episode, so if you have any questions, whether about publishing or life and everything in-between, post your question here or send us a message to http://bookfriendsforever.com!

Also, if you join our patreon, you'll have the opportunity to hear us record our 200th episode live and ask questions live in the chat. THIS Friday, May 19th at 5:15 ET! Become a patron here: https://www.patreon.com/Bookfriendsforever1

Grace will be in NYC at the Center for Fiction.

How have you been?

Alvina recently returned from the sales conference at work. She’s learning to play the ukulele! (Part of her New Year’s resolutions was to learn something new!) Stephen has a ukelele too and they’re trying to learn 5 songs before they go to Vermont in July!

Grace went to the Highlights AAPI Retreat. It was great to be a part of and contribute to the Asian American Writing community. They are fundraising for an Asian American Voices Cabin at the Highlights Foundation.

“When visitors come to the cabin, they’ll be surrounded and inspired by the work of our community, and our Asian American voices will be seen, heard, and amplified at the Highlights Foundation. The scholarships will play a meaningful role as they support Asian, Asian American, and Pacific Islander storytellers who inspire children through story.
To support this initiative, we are running a fundraising campaign that will sponsor the Asian American Voices Cabin at the Highlights Foundation for three years.
We hope you will consider helping us to sponsor this cabin and celebrate our community of Asian American voices. Every dollar counts!”

Here is the link to donate!

Book Financials

How do book financials work? Alvina talks about the budget! Title fact sheets, 2024 budget, budget gaps, P&L’s, revising with the finance department, and the balance of playing with numbers.

Alvina mentions this importance of having a diverse company and talks about other companies like Scholastic.

Grace and Alvina talk about having business philosophies! Grace wants to show gratitude to her readers and invest in them with the idea that they’ll invest in her. One Book, One read at Hazel’s school with Where the Mountains Meet the Moon.

Gratefuls

Alvina is grateful for the new compost bin down the street and the apps! Grace mentioned the open-mic night at the Highlights Retreat because it was there, she recognized the supportive community that has been created and is so grateful for that.

Thank you for tuning in!

If you’re a patron, don’t forget to check out this week’s Random Questions feed! Authors Hena Khan and Grace Lin answer the random question: Which would you prefer to have as your room-mate--A goat or a bird? Click here to listen! If you’re not a patron already, join today!

Thank you to Hachette Audio, Little Brown Books for Young Readers, and Alex at Pacyworks Studio for producing and editing this podcast. Be sure to rate and review us on Apple Podcasts and tell a friend about us. (Use the hashtag #bookfriendsforever.)