Writing your story is an achievement, but turning it into a publishable book is another thing entirely. With so many publishing options available, the process is complex. While some authors write purely for family and friends, others want to share their stories with a wide audience thanks to the power of publishing. With so many publishing options available, it’s hard to know where to start. There are three main formats when publishing a book and here’s the lowdown between traditional, hybrid and self-publishing models.
Traditional publishing
While a traditional publisher will handle the distribution, publicity and marketing, the success rate of being picked up by a big publisher is extremely low for unknown authors. In most cases, publishers prefer to work with authors who already have an agent, which can be difficult to obtain for first-time or inexperienced authors. It’s a bit of a chicken-and-egg scenario.
The benefit of securing a deal with a traditional publisher is that they cover the production costs, including the editing, printing, design, artwork and photography. They will pay an advance to the author while guiding them through the process. More than likely they will already have established relationships with bookshops, but unless they work with major distributors, there will be limitations on the scale of audience they can reach. There are also author costs involved such as paying an editing fee as a traditional publisher will normally require a manuscript that is ready to print before they’ll even glance at a word.
It’s also worth noting that a traditional publisher will own the copyright of the manuscript and usually has control of the title, style, design and cover of the book. In some cases, the publisher has a huge amount of influence over the content, tone, length and intended audience – this can be a terrifying prospect for authors writing their memoir. In saying that, much of their advice is well-founded and based on tried and tested experience with the market and on what they believe has the potential to sell well.
One other thing to consider is that an author will usually receive 10% of the royalty fee of the sales.
Pros:
Traditional publishers take all the financial risk
Distribution and marketing is almost guaranteed
Using a recognisable publisher gives credibility to authors
The odds of media coverage and your book selling well are increased depending on the network of the publisher
Cons:
Without an agent, it’s unlikely that a big-name publisher will work with new authors
In many cases, the author will need to pay for a proofreader prior to submission
An author will usually sign over the rights to their book to the publisher
Authors can lose creative control
Although an author receives an advance, depending on the contract, it can go towards the royalties, which are generally only 10% of each book sold
Self-publishing
For first-time authors in particular, self-publishing has many benefits as they will retain full control of the manuscript, title and style. It can be invigorating taking on all the risks and rewards. However, self-publishers must undertake all the financial risks and pay for the production costs of printing, design work, photography, editing and proofreading.
Based on personal experience, writing and producing a book is one thing, but marketing, publicity and distributing it is another process entirely. I highly recommend extensive research and establishing a marketing plan from the outset with your intended market in mind from start to finish. It’s also worth establishing your distribution channels early on as some booksellers will provide invaluable advice on emerging trends and what they know will sell well. For example, a book small in size might get lost on the shelf.
Always shop around for a printer, and offshore printing companies can often be significantly cheaper. If printing costs are beyond your reach, then consider publishing an ebook on a platform such as Amazon or Smashwords. One other thing to be aware of is that self-publishers will need to store their books, which can be an additional cost unless you have the space to store dozens of boxes of books.
For some authors, the benefits of having complete control of their bespoke product and how it's published outweigh the challenges as they retain the copyright, revenue and profits. Many authors who go down the self-publishing road often repeat the process and some even discover a new talent for publishing, which they later capitalise on.
Overall, the risks of self-publishing are high, and it’s a big investment of time and money, but the rewards can be great for the few who hit the perfect chord at exactly the right time.
Pros:
Complete control of the publishing process from start to finish
A huge sense of achievement and creative control of a bespoke product
Retain 100% of the profits and royalties
The huge learning curve can be transferred into new skills increasing the potential for more publishing projects
Cons:
Big investment in time and money
Author undertakes the entire financial risk
Difficult to break into network channels
No guarantee of recouping costs through book sales
Hybrid publishing
Also known as custom publishers, hybrid publishers offer the best of both worlds by offering invaluable guidance throughout the publishing process while still allowing authors to retain creative control.
However, it’s important to understand upfront the financial investment involved as authors will be required to cover the production costs. Hybrid publishers make their money from their fees and not from book sales, often leaving the distribution, marketing and warehousing of the books to the author. Nonetheless, they will guide authors through the process and handle the intricate production process by sourcing and managing editors, proofreaders, photographers, graphic designers and printing companies.
In some cases, hybrid publishers will even work with ghostwriters for clients who have the funds and the concept, which is a very popular avenue for commercial projects or clients who have a great story to tell but aren’t confident writers.
As a word of warning, some hybrid publishers over-promise and under-deliver, and have been known to prey on newbie writers who are only too eager to hand over a fee in exchange for plenty of flattery and a publishing deal. There’s a reason why they’re sometimes referred to as vanity or cowboy publishers, and authors should do their research before engagement. For example, if they encourage you to print 10,000 books, it’s worth finding out how feasible it will be to sell that many books.
Bestsellers usually sell around 5,000 copies – and who wants their garage cluttered with thousands of unsold books? My tip is to always have a contract where you retain full rights and royalties of the book and negotiate to only pay a portion of the fee in advance.
The advantages of working with a hybrid publisher are many as they nurture authors through the tricky process based on their experience and knowledge of publishing trends and the industry. And most important of all, clients have the freedom to negotiate their contracts (never work without one!) and retain full rights and control and all the profits.
Pros:
Authors receive significantly more of the royalties than when using a traditional publisher
Authors retain full rights of the book
A hybrid publisher will guide an author through the publishing process
Depending on your contract and the fee involved, a hybrid publisher will handle the marketing and distribution
Cons:
Just like traditional publishers, hybrid publishers have a vetting process and will generally only accept projects that align with their values.
Authors take all the financial risk and are responsible for book sales
Generally, authors will handle the marketing and distribution
There are plenty of cowboy/vanity publishers, so do your homework
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