Today there are more options for publishing than ever before. There is no single way to publish a book, which is a clear advantage for new authors. Whether you are in the very first stages of writing your manuscript, have it completely done, or are somewhere in the middle of writing it, your publishing pathways requires careful consideration.
In this article, you’ll read about the pros and cons of each of the major publishing options, along with an example. By the time you finish this article, you’ll have more clarity about which options are available and which one will be suit the goals you have for your book.
Option 1- Traditional Publishing
In the traditional publishing model, you write a book proposal, hire an agent, and sell your manuscript to a publishing company. The publishing company pays you a cash advance, which you can use while you write the book. Once the manuscript is completed, the publishing company pays to have the manuscript edited, designed and printed, as well as setting up distribution to stores and online book retailers. When books are sold, the profits go to the publishing house with a percentage paid to the author. The publishing company and the author collaborate on book marketing and promotion.
Pros of this model:
- Authors are paid for to write manuscript
- Publishers pay for the production costs
- There is some status from publishing with a recognized publisher
Cons of this model:
- The publishing company owns the manuscript and can make any changes with or without the author’s consent
- The lion’s share of the profits go to the publisher
- The process is lengthy, averaging 18-24 months for book production after the manuscript is completed
Option 2- Self Publishing
In this model, the author writes the book and then manages its production. The author serves as a project manager, hiring graphic designers, printers, and layout artists to create the finished book. The author decides how many books to print, either using print on demand (POD) technology to create a few books at a time, or prints several thousand copies with an off-set printer. The Author is in charge of all marketing activities and distribution. The author reaps all profits from book sales.
- Authors have complete control over all aspects of the book
- This model has the potential to create large income if the book is successful
- Production time averages 6-12 months, depending on how much time the author can devote to the project
- Requires a substantial financial and time investment
- Authors have a steep learning curve
- It can be challenging to find trustworthy vendors
Option 3- Boutique Publishing
If an author wants to self-publish her book but does not want to actually do the work or learn the process, she can hire a boutique publishing company to outsource the project. The author pays the boutique company a fee for the production of the book. Depending on the agreement with the boutique company, the author will garner a portion of the book profits. These percentages vary widely from 10- 100% of book profits. In this model, the author is responsible for most of the book marketing but the publisher may provide a book website and other marketing materials.
- Quick and convenient. The production process will take 4-6 months, depending on the contract
- The boutique publisher has trained staff who can produce a high quality book
- Authors receive coaching and mentoring from seasoned professionals who understand the book world
- Can be costly
- There are some disreputable vendors so careful evaluation of potential boutique publishers is required
- May or may not have book store distribution
Option 4- Ebook only Publishing
This new publishing model is paperless. Books are designed and sold electronically. This method is very fast and very affordable. The author can format and design her book for electronic sales or hire an outsourcing company to complete these tasks. Books are distributed electronically and read on electronic devices such as Kindle, Nook, or iPads. The author is responsible for marketing the book.
- Very low cost
- Can be ready for sale in 30 days or less after the edited manuscript goes into formatting
- Hottest selling market for books today
- Books are only available to readers with electronic devices
- The media does not consider ebooks as newsworthy as printed books
- Meeting planners are primarily interested in key note speakers with printed books which can be sold at live events
Option 5- The Blended Approach
This approach blends self-publishing or boutique publishing along with ebook publishing. In this model, the publisher is responsible for creating two books from one manuscript. The book is sold in both paper back and electronic format. The author has the best of both worlds, with physical books to sign, sell, and give away as a marketing tool as well as electronic books for readers who are passionate about their ereaders.
- More buyers will learn of the book due to multiple listings
- The author has books in hand to impress the media and use to build her business
- The author enjoys two potential profit streams from electronic and printed book sales
- Authors shoulder the cost of book production
- Requires additional cost to produce two versions of the same book which adds an additional $300-$500 to the project
- Can be a complicated process for an Author who is self-publishing
Now that you know about the five publishing pathways, consider your goals for you book. Then, select a pathway that will enable you to reach your goals. All pathways are worthy and can create great results. In the end, the decision comes down to what you really want. If you align your publishing pathway with your goals, you will have a winning combination for a successful book.