There are basically 3 publishing options available today even though there are multiple platforms for marketing or distributing (selling) once you have chosen a publishing option.
Traditional Publishing
Self-Publishing
Partner or Entrepreneurial Publishing
Publishing is an exciting journey. So let’s get to it.
1. Traditional Publishing. Traditional publishing still exists but it is a long-term play. Traditional publishing has not gone away regardless of the strides in ebooks, electronic downloads, audiobooks, and print-on-demand platform options. Traditional publishers are having to modify their approach just like many industries but the traditional publishers are still around. At the same time, many regional publishers are growing because of the advances in technology that are allowing them to compete on a more level playing field.
You can pursue a traditional publishing contract with a large publishing house or a regional publisher. However, understand that it is usually a much longer process, the advances are shrinking and you will still have to do much of the marketing yourself. In most cases, you will have to find an agent first because the BIG publishers do not usually accept unsolicited manuscripts. Just finding an agent can take 12-18 months and you need to find one who specializes in your genre. Then, if you get accepted, you usually are looking at another 12-24 months to get your book published. Some regional publishers might shorten the timeframe to 6-12 months.
For Non-Fiction or when your book provides compelling information to teach or educate people, you will need a Book Proposal which basically is a business or marketing plan that offers a case for why you are the best person to write this book (your marketability as it is called in the industry).
You will also need:
a summary including hook or premise of your book
table of contents
your chapter outlines (1-2 paragraphs)
your audience
your competition
your platform (how many followers you have or books can you sell)
how you will market or promote the book
any numbers of potential sales that support your proposal
a clear call to action for your readers
author information––your expertise, credentials, education, or experience
This is the time to be practical and not to promote a naively optimistic or exaggerated view.
Why should this editor or agent contract with you to write this book?
There are a wealth of excellent books and blogs to help you in this process which also can take weeks or months to complete. If you go this route you shouldn’t expect to just throw something together in a day or two.
Get something like Jeff and Deborah Herman’s “Write the Perfect Book Proposal: 10 That Sold and Why” to see what a successful book proposal looks like and what points you need to cover or include in your proposal. Or check out former Writer’s Digest Publisher Jane Friedman’s blog.
If you are writing a biography or memoir, the process is similar to fiction, and your ability to tell a story or entertain your readers will be more critical and you might want to complete a manuscript that proves you can offer that compelling writing strength.
Each publisher has its own unique submission requirements and they don’t all publish every genre or niche. Many publishers will not accept work from new writers. Some only accept submissions from agents, or previously published writer’s so you will need to check something like the “Writer’s Guide to Book Editors, Publishers, and Literary Agents: Who They Are! What They Want! And How to Win Them Over!” to see what editor, publisher or agent would be a good fit for your topic or subject.
You also will have to give up much of the creative control.
2. Self-Publishing. This is the publication of any book or other media by the author of the work, without the involvement of an established third-party publisher. A self-published physical book is said to be privately printed. The author is actively responsible and in complete creative control of the entire process including the design of the cover and interior, formats, price, marketing, distribution, and public relations. The authors can do it all themselves or outsource all or part of the process to individuals or companies that offer these services. After writing and extensively editing your manuscript, most self-publishing takes between 6-12 months to have a finished product in hand. Of course, it can be done in less time if you have no distractions, commit yourself fully to the project, and have money to invest in production help.
Some of the more popular contract or freelance websites include www.fiverr.com and www.ODesk.com where you can find freelance graphic designers, photographers, web designers, translators, and other resources. These types of sites can offer less expensive solutions but there are as many “you get what you pay for” stories as there are successful results, so always do some research before hiring. Get referrals or google and ask what people are saying about a person or company. Then take your best shot.
Self-publishing is not limited to physical books it can also include ebooks, workbooks, journals, pamphlets, sales brochures, websites, audios, videos, and more. Today mobile apps and software are also commonly self-published.
The modern father of self-publishing is Dan Poynter. Since 1969 he has written more than 130 books, many reports, and more than 800 magazine articles, most of them on book publishing. He self-published in 1973 when it was not popular. Pointer has continued his work and encouraged others to join in and now self-publishing or indie publishing (as it is coming to be called) is its own sub-category of the publishing industry. Kuddos to Dan for going forth boldly.
Technological advances and online automation have made even more options available for authors who want to self-publish today.
If you are interested in creating a publishing business then this is the subject you should study and learn as much as you can. There are a number of resources online and offline to increase your understanding of the challenges and joys. And you have already made a wise choice by subscribing to this Author Adventure membership newsletter.
3. Partner, Hybrid or Entrepreneurial Publishing. This is what I did for a number of years. This is a shared cost model. The author invests in production costs and the publisher shares their years of experience, knowledge, and success secrets as well as sometimes picking up some of the marketing or distribution costs. A partner publisher works with the author to help them use publishing as a tool to support and grow their current business. My initial mission was to assist busy professionals as they sought to share their knowledge and expertise to help others while generating ongoing multiple streams of income from content that they already had or could create.
When people didn’t have time but resources, they worked with me. I handled many of the production details (layout, design, cover, ISBN, barcodes, market research, formatting and uploading, audio, videos, translations, author pages, catalog listings, marketing campaigns, #1 Amazon Best-Seller Campaigns, and publicity or media relations) and for some clients we provided distribution. Usually, with a good manuscript in hand, we could deliver a #1 Amazon Best-Seller in 3 months, since the pandemic that as extended to 4 -6 months for a truly successful launch.
My mission today has shifted to supporting Creative Entrepreneurs who want to build Name or Brand Authority in the marketplace. Thought-Leaders in particular topics who want to use publishing or new media as they pivot from the corporate arena or as they are growing an entrepreneurial endeavor fast.
YOU DECIDE
All of the 3 options have pros and cons depending on how much or how little you want to be involved.
Understand that with traditional publishing you have very little say in that they can change your title, or request editing changes, or even the names of characters, they decide what your cover will look like, and can market your book however and to whomever they wish and you receive royalties between 5-15% usually one time a year. Sometimes there is an advance or an advance against sales and sometimes the percentage increases after a certain number of books are sold.
Self-publishing requires that you foot all the costs which can be between $3,000-$25,000 but you get all of the profit after expenses usually 50-70% if you have some business and marketing experience or expertise. However, you will have to spend the time, energy, and possibly additional money to learn the business to increase your revenue to that 70% level.
Partner publishing usually allows you to have some say in your title, cover design, layout, marketing, and other activities. If you do not get this agreement you might want to continue looking until you find the right fit for your personality and genre. Your cost here should be between $3,000-$15,000 depending on the services offered but could go higher if you have extended marketing and distribution options.
Here royalties vary by publishers. I rarely took any money on books sold. I received our fee for services and knowledge rendered and the author received all the royalties on their book sales. In the early days, I collected funds from platforms and paid royalties on a quarterly or bi-annual basis. Some Partner Publishers offer a 50/50 split on royalties after service fees. I am sure there are others who have a different split 60/40 or 70/30, so always do your research and only move forward when you have a gut level of comfort with the potential partner. Since Covid19, I have put my client’s books in their name and accounts as I was spending more time acting as an accountant, than a Creativity Consultant.
So these are the 3 main publishing options and you can decide which option you want to pursue depending on the level of control and involvement you want to have in the day-to-day activities of book publishing.
In future articles, I will discuss Print on Demand or POD publishing which is what Amazon, Ingram Spark, Barnes & Noble, Apple Books, and other platforms now offer traditionally published, self-published, or partner published books.
As always if you have any questions, put them in the comments or email authoradventure@gmail.com
Publishing is a wonderful business to pursue!
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