WheatonLang629
People ask me all the time, "Is it easier to try to look for a traditional publisher or to self-publish?"
My answer is always, "It depends." It depends on your goals, your resources, your book idea, the marketplace. There are many factors to consider.
Nevertheless, there are many top reasons to consider self-publishing first.
1. It's very, very difficult for any first-time author to get published these days by a legacy, or traditional, publisher. Ironically, part of the reason behind this really is precisely because the current technology makes it so easy to write! There are plenty of books out there, the bookstore shelves are overcrowded (which distribution mode is so flawed-but do not get me started on that!). Publishers are more and more wary of publishing unproven authors.
I do not blame them. I have been around the "inside" of publishing enough to sympathize with their side from it. It's very expensive to produce, publicize, and distribute a book-especially because of the very flawed bookstore distribution model. (Oops! I could not help that certain.) Income are often razor thin. Publishers put out maybe $10-30,000 to make a book, and they never know which books can make that back.
In fact, 85 percent of all books published don't even "sell through" enough to repay their advances! I'm often amazed that publishing remains a business (especially because of the very flawed business design from which they operate-uh-oh, here I go again).
2. You possibly can make more money-at least per book. When your book is published by a conventional publisher, you might get an advance against royalties. It's increasingly true, however, that advances for first-time authors are pretty paltry-not much more than $5000. In fact, advances are shrinking. I just heard one publishing professional are convinced that the most common advance nowadays is $0! Nothing.
Even if you do get an advance, keep in mind that most books don't even earn out their advance, which this is an advance against (future) royalties. Typical royalty: 7-10 percent of net, which means following the bookstores or any other distributors obtain discount (typically 45 percent). Let's do the math. A magazine that costs $19.95 includes a (discounted) base cost of $12.97 (45% discount means you net 65 % of list price). Of that, you get your 7.Five percent royalty (typical paperback royalty-hard cover is almost unheard-of for any new author). Now you're right down to 97 cents per book sold. Out of which comes, from the top, 15 percent towards the agent (if you had one). So that your net royalty per book is really a whopping 82.7 cents per book.
Now, if you're able to produce the book for $10, and it's something it is possible to sell for $19.95, you'll net $9.95 per book should you self-publish and sell it yourself. The tricky thing, of course, is to make sure your production costs won't exceed the cost you can actually sell it for. The problem with many different "publishers" such as lulu.com is that you can easily price yourself too much from the market. You have to be careful and incredibly realistic by what the marketplace is used to spending money on your type of book.
Another trick is to make sure you come with an audience, or can build a crowd, for the self-published book. If you can speak and sell it in the back of the room, this can be very effective. If you curently have some kind of platform, some type of audience, you can learn Internet marketing strategies and sell it on the internet. The net has become increasingly effective for promoting and selling books, which is why I'm so encouraged about publishing nowadays.
3. You get published quicker. A legacy publisher may take 9-18 months to create your book, after they get your manuscript. It might just take you half that point to get it done yourself. You reap the rewards quicker should you self-publish.
What are those rewards? Publishing a book positions you being an expert, like next to nothing else. Based on Kevin Hogan, author of The Science of Influence, nothing boosts your credibility and expertise in your brain from the public like your own printed book. An advanced degree is actually second to having published a book. You are able to develop your expertise before, during, after you write it, and reap the rewards of being a published author quicker.
Once your book is published, and also you begin to publicize it, you will make connections you can't imagine now. Doors will open to you. When you're perceived as a specialist, people approach you; you don't have to act as difficult to visit find them. You can charge higher fees for the services, products, speaking-whatever it is your book supports.
Then there's the incomparable satisfaction of hearing someone say, "Your book changed my entire life...."
You might too begin to reap these rewards earlier than later!
4. While you discover the ropes of promotion, you are able to attract a legacy publisher. One that will then be willing to pay a larger advance than they would earlier. You'll have to learn how to market your own books anyway, regardless of how you publish initially. Should you successfully promote your self-published book, and build a big audience, it's likely a legacy publisher will approach you.
This really is another consequence of the self-publishing phenomenon. Increasingly, publishers are looking for successful self-published books to take on. It is just good business. You (or perhaps a smaller publisher) has taken the initial risk, and you've got proven you know how to promote your book. The danger is much less on their behalf.
Your advantage to being picked up at that point by a legacy publisher is that they provides you with wider distribution (i.e., in bookstores and chains and other stores), and you'll well get a decent advance. (At that time, you'll be capable of know whether you want to sacrifice income for that greater distribution and having them get the hassles of manufacturing, warehousing, and distributing the books. You might decide you'd rather keep it self-published.)
If you are acquired with a traditional publisher, you can still sell your book and build your platform while they're producing your book. You are able to typically keep selling your book up to 60 or 90 days before your brand-new book is published. Then, obviously, the publisher will want to be able to sell the new edition, and you'll have to retire your initial edition. (Often, this can include complementary materials-beware! For more on that, begin to see the article, "Know Your Author Rights.")
I predict more and much more legacy publishers will appear for successful self-published authors. They'd be foolish to not.
5. You're more likely to work hard to obtain your return on investment if it comes out of your pocket. Isn't this human nature? No you'd continue to work harder to extract $5000 from your book if it's your personal money invested? Which motivation might be precisely what you have to propel you to success.
Ultimately, you're the one who will need to promote then sell your book, regardless of how you publish. Always, always remember that. You're your book's own best advocate. Writing is just a bit of the image. The real work comes later, to promote it and making sure neglect the of your time, energy, and money yields a return.
