From Shoestrings to Pursestrings: Securing Funding for Small, Open-Access Scholarly Journals

Even though most open-access, library-published journals operate on a shoestring, in our experience, securing a small amount of consistent funding—to defray production and editorial costs, reduce the burden on editors, etc.—has a significant impact on the long-term success of a journal. This presentation offers a model for guiding editors and authors through the process of securing funding to support their journal. We do not propose a single business model. On the contrary, we focus on opening up options in ways that are imaginative and open-ended, empowering editors to articulate a story of meaning around their journal. We’ll address the following questions:\n*At Michigan, beginning in fiscal year 2017, we will start charging fees to our publishing partners. How do we prepare internally for this transition, and how do we break this news in a way that retains trust and a strong relationship with our partners?\n*What alternative funding options and opportunities—besides toll-access and author-pays—are available to journal editors? We’ll share some of the ideas our journal editors have come up with.\n*How can we help publishing partners make a strong case for the importance of their publication? What’s the best way to communicate impact?\n*How can we prepare ourselves and our publishing partners to manage and track their finances?