In the past, self-publishing has had some stigma associated with it. However, as online marketplaces and e-books have gained popularity over the years, self-publishing has become a viable and popular option for authors today. Authors now have a choice: do they want to go the traditional publishing route, or do they want to self-publish? Which option is right for you? How do you know if you’re a better candidate for one or the other? Today we’ll look at the advantages and drawbacks of self-publishing.
Is self-publishing a better fit for you?
As we discussed last month, traditional publishing provides authors validation, expertise, and added visibility from using a well-known imprint. The publisher handles the business side of things for the author and helps with everything from copyright to marketing plans. That expertise and assistance comes with a cost, though. Going with a traditional publisher means authors give up financial and some creative control over their work.
Self-publishing, on the other hand, is the publication of work by its author at their own expense independently (without the involvement of a publisher). Independent (or “indie”) authors comprise 30–40 percent of all e-books sold, with 300 million self-published books sold each year. In the last five years, the number of self-published books has grown by 264 percent.* This is a strong publishing option for authors, and Publishers Weekly expects the self-publishing boom to continue. Consider these factors to determine whether self-publishing is the best option for you.
Advantages of Self-Publishing
- Maintain control
Cutting out the middleman lets self-publishing authors have complete creative and financial control over their work. You’ll decide on the layout, cover design, pricing—everything. Authors have little say in the market research or marketing materials in the traditional publishing process, but with self-publishing, you’re involved in every step.
- Keep your rights
Depending on where you self-publish, you can keep the rights to your work instead of signing them over to your publisher. The primary, subsidiary, and foreign rights are all yours. That means you can publish your e-book through one site, offer the print version on your website, and offer translations as well, all while earning more for your work.
- Speed up the timeline
Instead of taking years to get through the traditional publishing process, self-publishing authors can publish their work within weeks or months. Your publication timeline is limited only by how quickly you can create content and move through the editing and design process.
- Get higher profits
Royalties from traditionally published books range from 10 to 15 percent. But with self-publishing, royalties typically range from 30 to 70 percent. And if sell your book through your website instead of a marketplace, you can pocket up to 96 percent of the sale price.
- Choose your team
The expertise that comes from working with traditional publishers is also available through freelance editors. Plus, self-publishing authors can choose who they want to work with, every step of the way. If you need help developing ideas or content, you can find a writing coach who suits your style. Editors for developmental, line, and copyediting, as well as proofreading will partner with you to create and refine your manuscript. Formatters, designers, and marketing specialists are all available to help you as you shepherd your book toward publication. If writing is your business, then choosing your coworkers is definitely a benefit.
- Build your fan base
Starting out as an indie author allows you to build a fan base. Should you want to publish traditionally later on, having a strong following is a point in your favor with publishers. A high-quality indie publication can attract the attention of a traditional publisher, not just fans.
Drawbacks of Self-Publishing
- No monetary advances
Self-publishing doesn’t come with book deals or monetary advances. The only way to make money from self-published books is through royalties. Even though Amazon pays $250 million in royalties to self-published authors each year, you’re not guaranteed sales.
- Less access to prestigious awards
Most literary prizes and awards lists won’t consider independently published works. But indie authors shouldn’t lose heart. And many prizes and awards for self-published works exist, like the Independent Publisher Book Awards, the IndieReader Discovery Award, and the Eric Hoffer Book Award.
- Higher up-front costs
Self-publishing means you, the author, must foot the bill for all the expenses up front. Producing a high-quality book isn’t cheap, but remember that the expenses associated with your book are an investment, both in your book and in you as a writer. Investing in your work results in recommendations and good reviews from readers.
- No built-in support system
Unlike with traditional publishing, you must contact, interview, and hire professionals to help you with your manuscript. Building your dream team of editors, designers, and formatters takes time. Plus, acting as your own project manager takes discipline. Fortunately, editing associations like the EFA and ACES help indie authors connect with freelance editors, people like me who love supporting self-publishing writers.
- More difficult print distribution
If your idea of success is seeing your book for sale at a major retailer, it will be harder to achieve with self-publishing. Traditionally published books claim most of the shelf space at chain bookstores and retailers, but you can buy independent books in stores. Getting your book on the shelf just takes a bit more time and effort.
Ready to partner up?
Self-publishing doesn’t mean you’re on this journey alone; it means you’re in charge. You’re responsible for creating the content, managing the timeline, and finding the right people for your team. I’m proud to team up with indie authors and help them reach their publishing goals! See what one of my recent clients had to say about working with me:
“I contracted Holly to provide copyediting services for my nonfiction book. As a first-time author, I had much to learn about editing, and she educated me throughout the process. Her comments were both constructive and supportive, which made it seem like she was right alongside me throughout the duration of the book. I truly valued her suggestions to adjust some of the language to preserve my authority as the writer when I was offering advice to the reader. What I appreciated most, however, was how she maintained the integrity of my work. I believe that I am a better writer now from my experience working with Holly. I strongly recommend her for her copyediting services.”
—Ryan Walter, life coach, professional engineer, author
I love hearing from authors and learning about their projects. If you’re ready to build your self-publishing support team, contact me! Together, we can make your writing bulletproof.
*Statistics from WordsRated.com.