Ricardo Fayet takes us from the time Reedsy was founded to the present day. We also talk about the new models and tools that they are introducing. we cover books, self publishing, marketplace, editing, ebooks, agent assisted publishing, among other topics of interest to authors. Reedsy has a very stringent acceptance process for editors and cover designers. We learn that their acceptance rate (less than 3 percent) is less than that of Harvard or McKinsey. We conclude the discussion with translations, India, and Ricardo’s dream book.
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Discussion with Ricardo Fayet
- Ricardo and his co-founders started Reedsy when they realized that self-published authors might need services from professionals such as editors, cover designers, etc.
- Reedsy was funded by a London based incubator called Seedcamp.
- When they invited applications from editors, cover designers and other professionals, they received nearly 1,000 applications. Finally, 30 professionals were accepted. The selection was based on reference checks and LinkedIn profiles.
- New models to be introduced include a collaboration tool and translations.
- Ricardo believes in answering emails at the earliest. It is a practice even authors should adopt when it comes to communicating with fans.
- At present, Reedsy is present largely in North America and Europe. Some authors and an editor from india are also a part of their registered members.
- Till date, there has been one collaboration between an author from India and an editor from Reedsy.
- when an author posts the reruirement, the professionals (editors, cover designers, etc.) respond with quotes within 2 to 3 days.
“Out of 10,000 applications from editors and designers, we accepted 300 professionals for our marketplace…”
- Reedsy has started offering what is known as agent assisted publishing. Under this, they offer editing and cover design services to agents. They are also looking at outsourcing services for publishers.
- The moneyback guarantee offered by Reedsy ensures that the authors are assured of the quality of work.
- Reedsy is offering translation services and author collaboration tool, which is like Sharepoint and project management for authors.
- Book translations can cost upto 10 to 15 thousand dollars, therefore authors must be very clear that they will be able to sell the books in the new markets.
- Book marketing services is another feature that Reedsy has started, based on demand from authors.
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