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Writing is tough. However, completing a manuscript is not the toughest part of publishing. Regardless of the publishing process, authors face multiple challenges. In today’s article, we talk about the pros and cons of self-publishing and traditional publishing.
We will discuss:
Continue reading to learn more about the best publishing option for you.
Publishing a manuscript with a big publisher is the dream of every author. Even in the age of digital content creation, a contract from big publishing companies like Barnes & Noble carries a lot of prestige. However, it is tough to launch a book traditionally (“tough” is an understatement).
Here are the advantages of traditional publishing
Firstly, working with a traditional publisher means that you can focus on writing. The publisher provides resources to handle the rest. This includes editing, proofing, formatting, and designing.
These services are available in-house at publishing firms. Or they contract them to dedicated service providers. This is a great advantage because writers often lack the technical or project management skills to handle these tasks.
Secondly, there is a certain credibility that comes with a known publisher, even if it is a small- or medium-level company.
The credibility also comes from the fact that a known publisher recognizes your work as publish-worthy and sellable. When it all comes down to it, being sellable is usually what matters in book publishing.
Writers can also tap into the marketing network of the publishing house. This brings us to the next point.
Traditional publishers have distribution channels encompassing distributors, retailers, libraries, etc.
This ensures your book gains more visibility when featured on these networks.
For most writers, nothing beats the feeling of holding a print version of their book in their hands. But getting an advance on the book is a close second!
For first-time authors, the advance can range from $5000 to $50000, according to PublishDrive. This depends a lot on how well your agent negotiates with the publishing house.
In any case, you will get an advance upon signing a contract with a publishing company. But an advance is not a gift. Once the book is out on the market, it is repaid through the royalties earned.
If you don’t complete the book on time (or per contractual requirements), it will be repaid out of your pocket.
Here are some potential drawbacks of traditional publishing
The traditional publishing process is lengthy. On average, it can take six months to three years to get published. Sometimes it can take longer as well.
And this is not counting the time you get your manuscript approved by a publishing company. Most of the delay comes from the back and forth between writing and editing. Other aspects like fact-checking or design can also delay the publishing process.
Moving on, being published with a traditional publisher is essentially giving up rights to your book.
Moving on, being published with a traditional publisher is essentially giving up rights to your book. A publishing contract may require you to sell “all rights.” This means you cannot use, sell, or republish your material anywhere else. You may also have to give up rights to adaptations, translations, or international sales.
Not only that, but you also have to give up creative control. The in-house editor at the publishing company may require changes to your manuscript that you don’t agree with.
Sometimes the publisher may market you to a different genre than you expect or aspire to be associated with. That sucks, but it happens more often than you think.
Traditional publishing is an industry with many gatekeepers. As publishing houses shut down or merge with each other, which means there are fewer publishers but far too many authors. Publishing companies receive thousands of manuscripts every year, but they only accept 1% or 2% of them. Some claim even a lower percentage of acceptance.
Hence, the odds of getting published are astronomical. New authors, especially those without agents, have to fight an uphill battle to even be noticed by a major publisher or imprint. We know this sounds depressing, but it is better to have realistic expectations when venturing into authorship.
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Yes, a traditional publisher does help to market your book. But in line with the previous point, book publishing is a highly competitive business.
And if you really want to make it big as an author, you cannot rely on your publisher’s marketing anymore. Nowadays authors are paying for their marketing to augment the efforts of their publishers. And marketing a book is not cheap.
Book marketing services cost $100 an hour, and physical events like tours and signings can go into the tens of thousands of dollars. This can pay off through increased book sales, new book deals, media appearances, etc. However, the upfront publishing costs can be steep.
Authors have to invest in self-promotion to get noticed
These are the major pros and cons of traditional publishing. Let’s now see how self-publishing compares with it.
Platforms like Amazon KDP and IngramSpark bypass the obstacles of traditional publishing. They also help authors retain creative and financial control over their work. However, it also means that the writers have to do everything.
Here are the pros and cons of self-publishing.
To begin, self-published authors have 100% creative control. In essence, writers can call the shots in terms of content, design, and marketing. This is a benefit for those writers who find it hard to be flexible if they fear that the final product will not be according to their vision.
Another benefit of self-publishing is that your book comes out faster as compared to the traditional route. You don’t have to waste time submitting your manuscript. Once you are done writing, you can ideally get self-published in a week. But be prepared to spend three to six months on editing, formatting, book cover design, and copyright registration.
Another significant benefit is the potential for higher royalties. In traditional publishing, authors typically receive a small percentage of the book’s sales, while self-published authors can retain a larger share of the profits, often up to 70% or more, depending on the platform. This financial incentive can be particularly appealing to those who are dedicated to building a sustainable writing career.
Perhaps the most appealing aspect of self-publishing is that writer can retain complete control over their book rights. They can also earn higher royalties, up to 70% or more, as compared to up to 15% with traditional publishing.
For all these reasons, several upcoming authors choose Crossroad Publisher to self-publish their books instead of waiting for a traditional publishing contract.
Despite its benefits, there are some potential disadvantages of self-publishing.
Self-publishing is only easy in the sense that it has no barriers to entry. But that’s where the simplicity ends. As an independent author, you are responsible for every aspect of the publishing process.
It may sound empowering, but it can also be overwhelming. If you outsource services like design or marketing, you still have to manage the project. Not to mention, these costs can run in thousands of dollars. On average, it can cost at least $2000 to get self-published.
But isn’t self-publishing supposed to be free? Yes, but the caveat is that you can edit, design, and format the book yourself. Of course, these are learnable skills. Plus, you now have AI tools to help you with the process. But it does cost time. And you are responsible for the final product.
Traditional publishing has gatekeepers. But that also means that only the “best” (or let’s say, the most marketable) books come out. Of course, it is not a perfect system, but at least there is a check on what is published.
Self-publishing has no such filters. That means everyone and their mother can (and are) launching books. It not only leads to low-quality literature but also to a saturated marketplace. The odds of becoming an author may not be astronomical with self-publishing. However, the chances of gaining visibility are low.
Let’s face it. Most writers are creative and struggle to handle the business side of writing. But that’s exactly what’s needed to be a successful self-published author. Yes, you can still do the book tour and podcast interview, but you have to finance, coordinate, and execute these on your own. Are you ready for the challenge?
Even if you’re not, you can count on Crossroad Publisher to make your publishing journey stress-free!
The Pros and Cons of Self-Publishing vs. Traditional Publishing (courtesy The Creative Penn)
While this topic warrants a complete article, in a nutshell, hybrid publishing is a viable third option for contemporary authors that offers the combined benefits of both publishing formats. It also brings the combined headache!
Hybrid publishing means that someone will take care of publishing the book for you, but you have to bear the costs. The benefit is that you can get the technical and marketing expertise of experienced professionals. The downside is the upfront fees. Not to mention, hybrid publishers will also take a share of your royalties, though not as high as traditional publishers. It is similar to the pros and cons of self-publishing.
In the end, it is all about your goals. What you expect to achieve from publishing a book will in a large part determine what course you will take. However, the options can still be confusing, especially for first-time writers.
That’s where we come in.
Have you finished writing your manuscript? Let Crossroad Publisher take it from there! We will guide you through each step of publishing, including editing, formatting, design, and licensing
But that’s not all. We also offer marketing services to maximize your readership. Contact us today to learn more about becoming an author.
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