If you’re an aspiring novelist, you might want to know what type of publishing is for you and your book. Traditional and indie or self publishing routes can be very different and each has its own pros and cons. Let’s dive into it!
Traditional Publishing
Traditional publishing is when you publish through a press. This usually involves querying, possibly working with a book agent, and fewer decisions made by you, the author. With traditional publishing, the publisher will handle most or all of the costs associated with printing and marketing the book. They will also take the majority of the earnings from book sales.
Traditional publishing can take one to two years or more depending on how quickly you write, when your manuscript is picked up and on the publisher themselves. It can be tricky to get the attention of a publisher and pitch your book accordingly. However, there is also more prestige associated with being published through traditional means. My professor once said that it’s like having a research article peer-reviewed, which affords one’s work with more credibility.
Pros
publisher takes on all costs
you have the backing of a publishing house
they provide editors and book formatting
professional product
can win prestigious awards and get on certain respected lists
you’re paid an advance and have greater earning potential
better for niche books
Cons
many gatekeepers and you must work within the complex publishing industry
very competitive and you will face rejections
you should still market your book
you have less decision-making power
it takes a long time (over one year)
you receive less profit (5–20% of revenue, typically about 10%)
you give up publication rights to your book
Indie Publishing
Independent or self publishing is another avenue many authors take. If you’re not one of the select few who can get a publisher to take on your book, indie publishing is an option that is open to you along with hybrid publishing (which is a combination of indie and traditional publishing).
Being highly motivated and having good project management and marketing skills will be essential if you choose the indie publishing route. If you choose to publish independently, you will be responsible for hiring a team of professionals to edit, format, design and possibly even market your book.
Pros
you own the rights to your book
you choose how to customize your book and have complete creative control
much faster and easier
guaranteed to publish
higher profit (30–70% of revenue)
Cons
you pay for editing, formatting, cover design, etc.
must ensure it is professional quality or risk damaging your reputation
takes effort and time to learn how to do well
you must market your book if you want to sell copies
the book market is oversaturated and very competitive
it’s all up to you and your efforts
Which Is Right for You?
It depends on your goals! Do you want to be involved at every stage of the book publishing process, creative freedom, a sure-fire way to publish your story, more profit and a quicker time to market? Or do you want prestige, no financial cost, guaranteed professionalism, awards and less hassle?
Whichever way you go, there are a few things to check to make sure that you are ready to publish.
You must have a completed and polished manuscript that has been reviewed by agents, editors and readers who know your genre. If you are writing a nonfiction book, you must have a book proposal.
It must be well-written. Again, this goes back to receiving and incorporating feedback from people who have industry experience or are very well read. Take a step back and see if you could see yourself picking up your book from the shelf of the book store. Be honest with yourself: would you want to read it?
Your story must be high-concept. Make sure the premise is memorable, unique and holds broad appeal. Consult with an industry professional who has reviewed many stories before.
A warning to authors who want to publish: do NOT publish with a publisher who asks you to pay for costs. These are vanity presses (read: scams)! For more resources to prevent being scammed as a published author hopeful, I recommend visiting the Writer Beware website.
If you’d like further help in finishing your book, contact me on my website! I’d be delighted to illuminate your ideas, make your writing brilliant and bring your stories to life.
Sources & Further Reading
Creative Writing MFA program speaker: Stephanie Storey
Self Publishing School
Young Writer’s Workshop
Commenti