Exploring Self-publishing — The Exciting Option

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Author: Marilyn Ross

Article source: http://www.selfpublishingresources.com/. Used with author's permission.

As merger mania engulfs the publishing industry, markets for book manuscripts continue to shrink. There are simply fewer trade publishers today. Because the majority are now owned by huge conglomerates interested only in bottom line profits, they are less likely to take a chance on a mid‑list author.

To further compound the challenge, most books that are trade published experience a dismal fate. Joni Evans, past executive vice president and publisher of Random House, said in an interview in Lear magazine, "Only 10% of the books published by any house earn out their advances." What a frightening statistic. That says 90% fail! Must this necessarily paint a gloomy picture? Not really. Actually, it may be a blessing in disguise.

Why Choose This Alternative?

Today many authors are opting to take control of their destiny and publish their own work. While 10 years ago self-publishing was a case of last resort, today it is often the first—and wisest—choice for non-fiction authors.

Many savvy writers use self-publishing as a springboard to more lucrative trade publishing contracts. How so? Here's the formula: produce your own book, promote and sell the heck out of it, then allow a major publisher to take over your proven product. Because you've removed the risk and shown the book is profitable, trade publishers are suddenly a lot more interested in climbing on the bandwagon.

This can also work in reverse. Let's say you previously sold a book to a New York publisher. They published it, then let it die a quick death. Now "your baby" has gone out of print. That's what happened to us. So we got the rights back, did some revision to update the book, then published it ourselves—and marketed it aggressively. That book, Big Ideas for Small Service Businesses, has gone back for a third printing. We are making much more money on our self-published version than we ever did on the one put out by Publishers Row.

Some enormously popular books were birthed by their own authors. The classic career counseling handbook, What Color Is Your Parachute? originated its climb to best-sellerdom as a self-published title. Author and clergyman Richard Nelson Bolles eventually released the rights to Ten Speed Press, where the book continues to move at a rate of about 400,000 copies a year. The total number of copies sold is over four million! In the early 1900s William Strunk, Jr. breathed life into a little book most writers still swear by today. He printed Elements of Style as a text for his English classes at Cornell.

Celestine Prophecy and Mutant Message From Down Under were self-publishing phenomena. Celestine Prophecy got an advance from Warner for $800,000. Marlo Morgan received a whopping $1.7 million advance from Harper for her Mutant Message. These dramatic success stories have left their imprint on the entire self-publishing movement.

Privately published titles typically command respect—and profits far above the typical 7 to 10% royalties. Additionally, you maintain control. You call the shots: title selection, cover appearance, editing judgments, marketing considerations, etc.

Another appealing aspect is faster turnaround. With trade publishers, first you or your agent must shop the manuscript. Once it's accepted, industry averages are 18 months to publication. A self-published book, on the other hand, typically takes four to six months to produce. Period.

Part of the upswing in this movement is directly attributed to the support available to aspiring authors. While desktop publishing definitely made the whole production process less costly and more efficient, it should not be viewed as a panacea. If you're only doing one or two books, it probably isn't cost-effective to purchase typesetting software. And it isn't practical to embark on the learning curve required to master good design and typesetting.

There is also lots of help around now. We were pioneers in the book consulting field. Today hundreds of individuals and companies offer assistance with everything from editing and production to marketing and promotion. Some of them are excellent. Others are marginally qualified at best. Always check out their reputation and credentials.

While we're champions of this publishing alternative, we also say self-publishing isn't for every book or every person. It's extremely tough for most fiction and poetry. Even a good non-fiction book may be difficult to independently publish unless it is slanted toward a specific niche. Therein lies part of the secret.

The Secret of Successful Self-Publishing

You want a narrowly focused topic so you can reach your market. A book on dog training, for example, is better than one on animals. Why? Because you can find and penetrate your target audience. Dog trainers, breeders, breed associations, animal shelters, pet shops, dog shows—all are rich hunting grounds. Perhaps you can even sell thousands of books to a dog food manufacturer as a giveaway to entice new customers.

To prosper in self-publishing you need certain personal characteristics as well. Writing is only the beginning. Marketing is critical. You must be willing to acquire this knowledge, or hire someone who possesses it. I know, mother always taught you not to "toot your own horn." If you expect to sell books, you'd better forget that advice. Marketing, however, need not be frightening. Think of it as helping people and building relationships, which is exactly what it is. (Frankly, if you want your book to stay in print and pay big dividends, you need to be personally involved in publicizing it anyway, whether you're self or trade-published.) The ability to follow up is as important to an author as a computer is to an accountant. The squeaky wheel does get the oil.

Self-discipline is also a valuable personal characteristic. You'll be wearing many hats. A self-publisher is writer, editor, book designer, typesetter, printer, business manager, bookkeeper, order fulfiller, and publicist. Although you'll subcontract some of these functions, you will act as the construction superintendent. Ultimately, it's your project.

Be sure your motivation is clear. Self-publishing takes time, energy, and money. Most ventures are undertaken because the author wants to make a profit. That's fine. Done properly, this can be very lucrative. (Done improperly, you can lose your shirt.) We know self-publishers who earn a whopping 80% on their books. But they work hard for it.

Perhaps your goal is to influence people about a subject you feel strongly about—a "cause" book. Additionally, many of our clients publish a book as a business-building strategy. These are professionals, corporate executives, or entrepreneurs who seek to position themselves as "the expert." A book gives them new visibility and credibility.

Do It Right

Whatever your reason, do it right! A carefully crafted self-published book can compare favorably with a traditionally-published book. Quality control is vital. Get professional editing help. Develop a dynamic cover. Use someone who understands book design. Most graphic artists who create impressive logos or wonderful brochures don't have a clue about what works for book covers. And be sure you have an ISBN, LCCN, and a Bookland EAN scanning symbol on the back cover. Unfamiliar terms? Educate yourself by reading; find out what they mean. When you elect to self-publish, you're going into business. If you expect to compete in the marketplace, do your homework.

Also learn about printing. It's your biggest expense. Having a few hundred copies done at your local print shop or via Print on Demand may make sense for a family history or a chapbook of poems. To be cost-effective you need to print a minimum of 3,000 copies of most books, however, and you should work with a book manufacturer or a print broker who knows book printing and will look out for your best interests. We offer ideas in our newly revised Complete Guide to Self-Publishing to slash costs and still have a quality product.

Work in even signatures, preferably 32- or 64-page increments. Choose from the printer's standard papers, rather than specifying something unusual. Want an inexpensive and dynamic brochure? Print an overrun of the covers while you're on the press. They're cheap and impressive then.

Consider publishing in hardcover. It will only cost you about $1.25 per book more, yet it commands a greater retail price (a $12.95 paperback versus the same book in hardcover at $19.95, for instance). Total costs to publish your own book vary as much as the price of automobiles. There are Cadillac projects and there are Geo projects. They depend on length, size, complexity of text, presence of illustrations or photographs, number of colors in the cover, editing needed, marketing involved, etc. You'll typically invest anywhere from $10,000 to $25,000 to do it right.

Self-publishing can be fun, exciting, and profitable. If you're the type of person who likes to be behind the wheel, rather than just along for the ride, it may be the perfect alternative for getting your book into print.

Keep in mind, it is not a cure‑all. It is a powerful tool for shaping your writing destiny. The bottom line is directly proportional to the effort expended. As with anything worthwhile, it requires self-discipline, investment, time, and creativity. Yes, there are risks involved—but done properly, the financial and emotional rewards can be substantial.

© Copyright 2005 Marilyn Ross

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