Self-Publishing Can Even the Odds
Writers on the precipice of publishing have three choices: self-publishing, traditional publishing, or hybrid publishing, a blend of traditional and self. Every form has its adherents and its detractors, but what matters most is what’s best for you as a writer.
One caveat: You’ll still have to do most of the work, whichever path you choose, and that includes marketing. (Shudder.)
Self-publishing is a rare creature in a world where access to education, jobs, and the other benefits of life is unequal. Self-publishing’s doors are always open. Anyone can come in. And everyone earns the same percentage per book on each platform, no matter who they are.
Second caveat: Because hybrid publishing is a mix of both types, its adherents can face both the downsides and the upsides of both types.
Control: One of our clients debated which path to choose for quite some time. (Yes, we can help you get your work traditionally published, if that’s the direction you want to go.)
They finally chose the indie route because they wanted to remain in complete control of their work. They didn’t want someone from a traditional publishing house deciding what their cover should look like, what scenes to keep and what scenes to cut, or how their book should be formatted.
And they are still very happy they chose the path they did.
Money: Traditional royalty rates run from about 7 percent to 25 percent; indie authors, however, can make about 70 percent per each book sold, according to MasterClass. If you decide to sell from your own website, you won’t have the built-in audience you would get on Amazon and other publishing platforms, but you will be able to keep all of the revenue you generate.
If you go with a traditional publisher, they’ll cover all the publishing costs. You, as an indie, will have to cover them upfront. You might never recoup those costs. But a lot of people do. And go on to make more money.
Of course, there’s no guarantee, whichever route you choose, that your book will sell. But if it does, indie publishing likely will put more money in your bank account. Especially if you’re just starting out, when you likely don’t have a name, a following, or publishing experience.
Rights: Indie authors can retain all the rights to all of their books. By going with a publishing house, you are essentially handing over many of the rights to your books to your publisher in exchange for possibly an advance and possibly royalties.
If you do go the traditional route, you (and your agent) will want to read your contract very carefully to ensure you are only giving away rights what you think is fair. You might, for example, want to keep worldwide and audio rights.
Speed: Traditional publishing can take forever. First there’s the agent search. Then there’s the publishing house search. Then there’s the production of the book. It could take years before you actually see it on bookstore shelves.
Self-publishing is, relatively speaking, lickety-split. Once you’ve written your book, you could have it up online—with professional editing and an amazing cover—in three months.
Cachet: Though self-publishing has come a long way since the early days, when self-publishers were greeted with a sneer, traditional publishing is still held in higher regard. If you write literary fiction, be aware that most prizes and grants and contests exclude self-published books. So, no Booker for you if you self-publish.
As with any decision you make as an author, your choice should reflect your goals as outlined in your business and your marketing plans. (At selfpublishingservices.com/free, you can find free marketing and business plans to get you started.)
As always, please contact us if you have any questions. We’re more than happy to help.