Until relatively recently, the best way to publish a book was the traditional route, through one of the New York publishing houses.
However, the publishing industry has undergone tremendous changes in the past few decades. As a result, it is now much easier and potentially much more lucrative for you to become an author via self-publishing, also known as custom publishing.
I’ll compare the two approaches in this series, beginning with traditional publishing in Part I. Read Part II for a look at self-publishing.
Traditional Publishing – Pros
- Having your book published by a recognized publisher gives you credibility.
- You may receive a decent, or even substantial, advance payment.
- The production costs (editing, printing, etc.) are paid for by the publisher.
- Your book will be presented in the publisher’s catalogue and at industry trade shows.
- The publisher takes care of distribution to bookstores and other venues, lists it on Amazon.com, and so on.
Traditional Publishing – Cons
- You must begin by writing an extensive book proposal, then hope a publisher will be intrigued enough to publish your book.
- You must have a “media platform” significant enough to attract a publisher’s attention.
- There’s a long delay between initial presentation of the idea to the publisher and publication – generally, at least a year and perhaps as long as two years.
- You lose control over the title, cover design and other elements of your book.
- You earn a very small fee for each book sold.
- You cannot overly-promote yourself, your company or your products in your book.
- There’s a good chance the publisher will decide that your book is “mid-list” and give it little or no publicity support.
- The publisher can relegate your book to “out of print” status, or worse, keep it in print but do little with it, effectively leaving your book in limbo.
In short, there are benefits to the traditional route, especially for certain people. If you’re already a VIP with a significant media platform, the traditional publishers will be eager to publish your book and will likely give it plenty of promotional support. But if you’re not, well…
That’s where custom publishing comes in. Thanks to recent changes in technology, the media and the Internet, as well as the way books are printed and distributed, custom publishing is increasingly popular and a potentially profitable way to go. Read Part II of this series to learn about the pros and cons of custom (self) publishing.
