Traditional Versus Self-Publishing Made Simple

/
laura-kapfer-hmCMUZKLxa4-unsplash.jpg

Now more than ever, your future is in your hands as a writer. You get to choose whether you want to submit to a traditional publisher or stay in the driver’s seat and publish yourself. Furthermore, this is such an exciting time to publish because the game is changing. There are so many new opportunities.

Still and all, it’s important to understand the basics in a clear and simple way.

Traditional Publishing

This is a great path for literary fiction and literary memoirs. If your book stands alone and is not part of a specific series or genre it can benefit from the status and networks of a traditional publisher. Traditional publishers have a distinct advantage when vying for literary prizes, movie contracts and foreign distribution. However, you must be in this for the long haul. Publishing contracts are very competitive. Be prepared to be persistent. The submission process can take months, and the editing process can take more than a year.

In addition, if your eventual goal is to be published traditional, there can be an advantage in demonstrating that your book has an audience first. Which brings us to…

Self-Publishing

I recommend this path for personal development books and self-help, any book connected to a business or service, series fiction (especially in a specific genre) and personal creative projects that you want to spread. This path will give you more creative control, higher profits and faster results for printing and growth. If you’re excited about your words and ideas now, go for it. By taking action and building a following you’ll have a better platform for negotiation if you decide to pursue traditional publishing at a later date.

No matter which path you choose, no one else is ever going to believe in your book the way you do. At least not in the beginning. You will be the force of love behind your marketing and your sales.

You are the author, you are the success. That can’t be purchased at any stage of the creative process.   

To further break it down, here are some of the pros and cons of both traditional and self-publishing at a glance.

Traditional Publishing Pros & Cons

Pros:

  • Validation, prestige, movie contracts, foreign deals

  • Print Distribution in bookstores is easier. 

  • Professional design and edit team, free of charge.

  • The possibility of an advance (discounted from royalties). 

Cons

  • Low leverage in your contract without an established platform.

  • You must provide your own marketing campaign. 

  • Low royalties around 10% which can squelch benefits.

  • Years in editing can cause you to lose momentum and excitement.

Self Publishing Pros & Cons

Pros:

  • Total creative control and you retain all rights over content.

  • Publish, and republish at your own pace for faster growth.

  • Royalties up to 70% and you choose the price.

  • Funnel your audience back to your other projects. 

Cons:

  • You must invest upfront in order to get a professional team.

  • Investigate your own strategies for distribution.

  • Difficult to get in bookstores or be considered for literary prizes.