Indie vs. Traditional Publishing: Which is right for you?
Gone are the days that books which are independently published by the author are seen as somehow inferior to those books traditionally published by a well known publishing house.
Plus, the ability to independently publish your book is now well within reach. With the ease of print on demand and the availability of online resources, there are teams of professionals to help you prepare your book for independent publication.
Not to mention, being an indie author costs less.
Why, then, might you want to consider traditional publication?
This post explores the pros and cons of both indie and trad publishing, so you can determine which is right for you and your bookish business!
The Pros and Cons of Self-Publishing and Traditionally Publishing
Indie/Self-Publishing:
Being an author is a business. As a business owner, you’re not only in charge, but you’re also responsible.
This double-edged sword is the sharpest when it comes to self-publishing, since all of the decisions and their respective consequences are yours, and yours alone, to make.
However, the flip side of that is also true.
And the rewards are great.
As the owner of your bookish business, here are the pros and cons to self-publishing for you to consider.
PROS
YOU are in control of decisions and finances.
Some authors have reportedly made more money. Plus, since you own your book, it can be used as “currency” to trade for advertising space, and the like.
Brings increased credibility to you as an author, which may be in the form of media interviews, etc.
Opens doors to other possibilities that you may have never considered.
Can write the book you want
Retain all rights
Retain full control
Can keep your book on the virtual shelf indefinitely
No querying involved
It can take 6-12 months to get your book out.
Can build your backlist quickly, thereby increasing your revenue
Results in higher royalties, since only printing costs are subtracted
CONS
YOU are in control of decisions and finances. While this is also listed as pro, the fact that you are solely responsible for everything is also a huge con.
You pay for everything yourself.
You must research and determine how and where you are going to invest your money for cover design, editing, marketing, deadlines, vendors, pricing, etc.
You must then manage the people you hire.
There are naysayers who will look down upon the decision to self-publish and will not take your book seriously.
TIME to learn and to do the work.
Traditionally publishing:
There are seasons in business. When it comes to determining when it’s time to traditionally publish your book, the time just might be NOW.
To help you navigate this decision, please read the pros and cons below.
PROS
Ease of distribution
More likely to be carried in bookstores
More likely to be eligible for huge best seller lists, like New York Times and Wall Street Journal
The publisher takes the risk on your book, both financially and for the management of the team who will take your book to publication and distribution.
CONS
You may need to compromise on what you write and how you write it.
The publishers take their cut.
Your book cannot be used as “currency” to trade for advertising space, for example. In order to do so, you would have to pay the publisher the retail price for the copies you want to use, rather than simply the cost to print each book on demand.
You are limited in what you could use your book for in terms of repurposing its content for marketing, etc.
Making a deals with the publishing company takes time. It takes about 2 years. Plus, you often need an agent, need to write a book proposal and then shop it around. Contract negotiations take time, too.
Some publishers require that to get the deal, you may have to agree to buy up to 5000 copies of your book at retail from the publisher, thereby covering their risk. You would then be left with whatever number of your books that don’t sell. Consider how you would store and manage their subsequent sale.
Even if you do get a traditional publishing deal, please note that you as the author are still responsible for a significant amount of the marketing.
The competition is fierce, even for those whose goal is to be traditionally published. Since publishers “bet” on your success, you need to have reached a certain level of achievement before even contacting a publisher. Even then, you will likely to be offered a hybrid deal. With a hybrid deal, the author assumes some of the upfront costs. In this case, the author must give a percentage of the royalties in exchange for working with a publisher.
Regardless whether you choose to self-publish or traditionally publish your book, please remember that no decision is forever.
Plus, remember that readers don’t care how you’ve published your book. They just care that it is done so professionally.
Be sure to educate yourself on all that is involved during each step of the process, so you can make a well-informed decision.
Check out Book Marketing Ideas and Strategies for Indie Authors, How to Build Your Dream ARC Team and The Indie Author’s Guide to a Successful Book Launch to learn more.
No matter where you are in your publication journey, Mint Copy Services is here to help!
Not sure what you need? Let’s chat and plot next steps together!
Your supportive side character,
Lisa
