I was recently interviewed by a local reporter and thought I’d share my answers with you:
Self-publishing seems to be a hot topic lately. Why is that? Because it’s relatively easy to do it yourself and it’s getting harder and harder to get a contract with traditional publishers. Last year, for the first time ever, there were more self-published titles released than traditional publisher titles. Self-publishing is hot and getting hotter, while the big traditional publishers struggle in this economy.
What’s involved in self-publishing your book?
With true self-publishing, there is a lot involved. An author has to manage all of the details—editing, cover design, interior layout, distribution and printing. It can be a lot of work and overwhelming when you do it all yourself.
But there are a number of companies that help authors publish their books. Some offer print-on-demand, where you can order a small quantity of books, and then there are vanity presses, many that have a bad rap in the publishing community. Authors should be very careful about selecting a good vendor to help with the process.
What makes a good vendor for publishing assistance?
I recommend asking for a quote on ALL of the fees up front. Some vendors lead with a really low price and then authors find out later that they need to pay for additional services. Also inquire about how the retail price is set because it needs to be reasonable so that people will buy the book. And ask about the author’s cost for purchasing books, which should be greater than 50% below the retail price. You need to leave room to make a profit.
What does it take to be successful as an author?
No matter who publishes your book, whether you do it yourself or you land a contract with a traditional firm, it’s all about marketing. Just because your book is available for sale, doesn’t mean people are going to buy. As an author, you need to get out in the world and let people know about your work. I’m a huge advocate of online marketing and social media: Twitter, Facebook, blogging, website optimization, article marketing, etc. Leveraging the internet is one the most effective ways to build a following as an author.
What are some of the pros and cons of self-publishing vs. traditional publishing?
A traditional publisher brings some added credibility and wider distribution, but authors don’t make much money on their books unless they hit a best seller list. If you self-publish and produce a high-quality product, you have the opportunity to earn more money on your titles if you’re marketing them properly. It’s also relatively easy for a self-publisher to get their books listed on Amazon, which is where nearly half of all books are being sold today.
What advice do you have for people who want to self-publish?
Your book should look like one that you would see on a bookstore shelf. It should have a professional cover design and it should be edited. When authors cut corners and try to do it all, they can hurt their sales. Also, remember that it’s all about marketing, marketing, marketing. Tell the world about your book in every way that you can—get online, use social media, and get out and speak to audiences. That’s how authors are going to be most successful.
Do you want help publishing your non-fiction book? Check out my company: Authority Publishing.
July 31st, 2009 at 12:43 pm
Thanks for sharing Stephanie. I’ve used Lulu in the past for some small self-publishing works, they have a great support staff and a lot of self-publishing help for cheap.
What I’m curious about is this: you mention that self-publishing is on the rise because it’s easier, and readily available to most people. But what about profit? Is there still a decent profit to be had in regular publishing vs. self-publishing?
August 10th, 2009 at 11:36 am
Hi Tanner,
Profit is a tricky question and similar to business, it all comes down to marketing.
With a traditional publisher, the average author makes about $1.50 per book. As you can see, you have to sell a LOT of books to make that worthwhile.
Self-published authors make more money per book. For example, if your book sells for $20 and you can purchase copies for $5 or less, you have a nice profit margin of $15+ (when you sell the book yourself).
Also note that bookstores, and Amazon.com in particular, take 40% to 55% off of the cover price. Because of this, you need to make sure you can purchase your books for more than 50% off the cover price in order to leave room for profit.
My whole philosophy is that a book is a tool to grow your business. The big money isn’t in the book, it’s in the services and programs you build around your book. Here is a link to an article I wrote on this subject:
http://www.authoritypublishing.com/article-publishing-to-grow-your-business.htm
Thanks for your comments and best of luck on your publishing journey!