Should I Self-Publish or Traditionally Publish?
To begin your published adventure, you must first decide whether you want to self-publish your book or go the traditional route. There is a lot of debate in the literary community concerning self-publishing vs. traditional publishing.
While self-published authors brag about having more creative freedom and making more money, traditionally published authors argue that only they can reach mainstream success. As a result, the decision to self-publish or work with a publisher is still up. In fact, the truth lies somewhere in the middle.
Both sides have their advantages and disadvantages, and it’s up to you as an author to decide which path to take! This article will examine the advantages and disadvantages of both traditional publishing and publishing on your own. At the end of the article, you’ll know which option is best for you!
How Do You Self-Publish?
Self-publishing is the act of taking on all of the duties involved in the publication of a book on one’s own. As the author, you’ll be in charge of everything from editing to cover design to formatting and your book’s initial release and subsequent marketing and promotion. It’s entirely up to you when it comes time to pay for services such as an editor or a cover designer for your book. The main reason many authors choose self-publishing is that it allows them to retain the entire ownership of their book.
This mostly involves relying on a third-party publisher to do your book’s publishing work. The publisher in traditional publishing will handle your book’s editing, design, and marketing. Afterward, they’ll publish it through one of their sources and pay you a tiny royalty fee. In essence, traditional publishing involves exchanging your book’s product for the services and connections of a publisher. Everything will be taken care of, but you will no longer be the sole owner.
To help you make a decision, here are the pros and cons of self-publishing versus traditional publishing in light of five key factors.
To put it bluntly, self-publishing is far more costly because you are responsible for funding the entire project. For a self-published book, the overall cost of editing, design, and marketing services comes to roughly $3,000 (Children’s Books will cost more due to illustrations).
There is excellent news though. If you spend it wisely on marketing your book, you can encourage more people to buy it! The royalty rate is about 50% to 70%, making it possible to return your investment quickly if you have a competent marketing strategy.
On the other hand, traditional publishing appears to be profitable from the start. The publisher will handle everything for you, and you don’t have to worry! However, when it is time to put your book on the market, you may be in for a rude awakening.
You may have to make more sales, like six times as many books, in order to meet your projected revenues. AND… the publisher typically won’t market your book after 45-90 days, if AT ALL!
However, the money you earn in the process of self-publishing is all yours to keep. Traditional publishers take most of your income if your book doesn’t sell well, which is not too exciting.
2. The Control
Self-publishing and traditional publishing have very different advantages and disadvantages in regards to control. When it comes down to it, self-publishing gives you control over the entire publication process. The benefits of self-publishing include the freedom to set your own prices and deadlines and the ability to keep a large portion of the sales proceeds in the form of royalties.
You have ultimate control over your work as a self-publisher because you do everything yourself!
In traditional publishing, you can trust the publisher to take care of your book needs after you write. Trust that the publisher will deliver on their promises.
Finally, self-publishing gives you complete creative freedom, but it also comes with substantial risks. In the end, self-publishing allows you unlimited creative autonomy, but it also comes with a significant amount of risk. ESPECIALLY, if you don’t know what you are doing, and do not take the time to learn from a professional.
Publishers have the final say in traditional publishing, although there are exceptions. Some author negotiate more creative control into their publishing deals.
3. Date of Publication
When it comes to publishing timeframes, your options are restricted. It’s possible to publish your work whenever you want with self-publishing, be it in ten minutes or ten years. After formatting it with a software program of your choice, you may submit it to Amazon or IngramSpark whenever you choose.
However, when it comes to traditional publishing, even if you are among the first and get your book picked up by a publisher, it could take another year or more before it is actually published. This is due to a wide range of factors, including rigorous in-house editing and a desire to spread out major releases.
In the end, self-publishing is the way to go if you want to publish swiftly or just at your own pace. You’re ready for the traditional publishing timetable if waiting for a few years for your book to be published is not a problem for you.
4. The Reader’s Exposure.
For authors hoping to gain a wide audience, traditional publishing is the most common route they take. Your book can be promoted extensively online and prominently displayed in bookstores with a major publisher.
Although self-publishing may make it difficult to obtain global recognition, you may have a higher chance of engaging with your intended demographic. With the help of niche review blogs and Amazon ads, price promotions, and your own personal fan base, you can gradually establish an audience that is less mainstream but incredibly loyal at the same time.
Final Take Away
In today’s market, most authors are choosing self-publishing since it is both economically feasible and personally rewarding for them. But it can be difficult to do it successfully on your own. That’s where we come in. Our team of experienced book coaches can help you every step of the way, from writing your manuscript to getting it published and marketed successfully. Contact us today for a free consultation, and let us help you take your book from idea to bestseller!