Here is the link
Here is some of the story-
Against All Odds, Small Presses Prosper
Indies find ways to work through a tough economy
By Lynn Andriani and Jim Milliot — Publishers Weekly, 3/2/2009
Despite brutal economic conditions, several independent publishers managed to find ways to grow both their sales and profits in 2008. How did they do it? They are not afraid to be frugal—forgoing advances in favor of offering higher royalties, for example; and they practice innovation—“mining data” for new audio prospects, in the case of Tantor, or teaching authors how to self-promote, as Morgan James does. These 11 presses have adopted a combination of strategies that have helped them not only survive in the recession, but prosper.
Six years after its founding, Morgan James Publishing is making its first appearance on PW’s fast-growing small press list. The “entrepreneurial publisher” operates under a model that’s becoming increasingly common: no advances and high royalties. Yet Morgan James makes an extraordinary effort to help its authors to grow their own business—whether an author is a self-help guru or a financial advisor—through promoting their books (the house specializes in business, self-help, inspirational and health books).
Founder David Hancock, a former mortgage banker, says the company helps its authors sell books by hosting educational events. “Our book sales are up 52% over last year, and that’s because we try to teach authors how to market their books. It’s had a significant impact on book sales.” Advertising and marketing are generally the authors’ responsibility; Morgan James markets to bookstores and an e-mail list it has. But ultimately, publicity and promotion is up to the authors, “and we teach them how to do it,” Hancock says. Plus, if authors use a public relations firm that Morgan James approves of, the publisher will pay a percentage of the cost.
When Morgan James launched, it required its authors to pay for book design, and did some custom publishing as well. “But we’ve since moved from that,” says Hancock—although the house has a self-publishing imprint, Persona Publishing, which Hancock says will positively affect the house’s bottom line for this year. The company partners with Author Solutions for Persona titles.