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Traditional Publishing or Self-Publishing?

Much has been written as to how to get a traditional publisher, or why you would want to self publish.  Here are the reasons as I see them.

TRADITIONAL:
* No money up front
* Less time and learning commitment
* Small royalties and none until advance is recovered by publisher
* Loss of control over final product - they bought your book and can make it into anything they want it to be
* Little say in the design of the cover or interior
* Ego of getting traditionally published
* Your book will come and go within 6 months unless it hits it big and you can’t do anything about it
* Other versions (audio, e-book, foreign rights, first serial rights, etc.) may or may not be worked by the publisher (although they will be contracted for)
* author is often contractually obligated to certain marketing activities

SELF PUBLISHING:
* Steeper learning curve - but you can pay for activities you don’t know how to do (editing, design, typesetting, marketing, print quotes)
* Author/publisher responsible for total costs - you are now in business for yourself
* You get to make all editorial and design decisions - as well as all business decisions - YOU control the process
* Your book will be in print much sooner - typical traditional time frame is 18-24 months from beginning of negotiations
* You get to decide how the book will be marketed and to whom, when and for how long
* The book can continue to be promoted and marketed for years increasing revenues as it gets "legs" and requires less hand-holding and marketing
* You get to keep all revenues - no royalties to deal with
* You see all sales reports - no guessing if you are being paid correctly
* If you like the business and want to write more books, the process becomes easier and easier - and your business framework is already set-up allowing a more streamlined operation with less cost and more profit

As to which is a better decision. There is a place for both, but with over 500,000 new books being published each year - and less than half of them through traditional publishing houses, you can see which way the pendulum is swinging. The traditional houses are taking less and less risk with unknown authors - if you don’t already have a strong "platform" - a celebrity, sports figure, entertainer, well known Dr. etc. - you have little chance of being traditionally published - there are exceptions, but they are becoming rarer.

The ironic part is, IF you have that strong platform, you really need the traditional publisher less than the unknown person! More and more speakers and celebrities are self-publishing because you can hire everything done on the front end, and keep all the revenues on the back end.

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3 Responses to “Traditional Publishing or Self-Publishing?”

  1. David Holford says:

    Ahhhh, you mention “marketing.” Seems to me this is where traditional publishing has a big (perhaps the biggest) advantage over self-publishing. Many, if not most publishing houses–and expecially the larger and/or more established ones–have their own (sales) people to market your book (along with the other titles in their “book bag,” of course). How does the self-publisher even begin to acheive that level of marketing effort/contacts/expertise? What marketing efforts on the part of the self-publisher could be nearly as effective in reaching potential buyers–beyond, of course, individual readers/consumers? I’m talking here about wholesalers, book stores, and even libraries–buyers of more than just one copy. Seems to me that’s where the real numbers are, profitwise. Or am I just being a “luddite” and stubborningly hanging on to a worn out publishing model in the face of incontrovertible change? If so, convince me otherwise! Enlighten me and show me the error in my beliefs and ways.

  2. admin says:

    David - The marketing activities that you are describing are the functions of a distributor. They call on the book sellers, large corporate buyers (Costco, Wal-Mart, etc.) and specialty buyers (Anderson, Hudson, etc.). They carry and present the titles in their “book bag” to those who can make a decision about store lay downs, advertising opportunities in the stores, and so on. Many independently published books are represented by distributors. If you combine good distribution with strong promotions utilizing a publicist, you can have sales that rival or exceed mainstream publishers - and keep more of the money for yourself. Oh - and BTW, most traditional publishers now require marketing activities by their authors as well.

  3. Judy says:

    Carol and David,
    I love the points you made Carol. and I agree that if a publisher couldn’t make me 10X what I could with my own promotion platform, it wouldn’t be worth it. After small expenses, I love to make most of profits myself!

    I’ve been writing about this for many years–before we thought about eBooks.

    Publishers do not do much promotion and give substandard promotion to new authors. That’s why I left my very popular agent and did self publishing with my “Write your eBook or Other Short Book Fast” and many others.

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"And I thought after 40 years of writing, I could write a sales letter... WRONG! Carol White's letter went beyond my imagination and into the sales stratosphere. Thanks, Carol! " -- AD Walker