Should You Self-Publish?: Part 1

In the span of just a few decades, self-publishing has transformed from an expensive, time-consuming pursuit (usually with lackluster results) into a viable option for serious authors looking to get their books into the world. Platforms like Kindle Direct Publishing, IngramSpark, and Draft2Digital now provide relatively simple and cost-effective ways for independent authors to publish their books and make them available for sale online in as little as a few minutes. A select few authors, like Colleen Hoover, Rupi Kaur, and E.L. James, got their start through self-publishing and have gone onto become extremely successful (and wealth) full-time authors. These trends have led many would-be authors to wonder, “Should I even pursue a traditional deal?”

There are two big upsides to publishing independently:

1. You control the process

If you have an established brand or have strong feelings about how your book should be published, it might be difficult to cede control of that to a third party. A traditional publisher will, of course, consult with you on things like cover design and editorial feedback, but, ultimately, they get the final say. If a publisher doesn’t agree with your vision, then self-publishing may be the best option, depending on your goals.

With a traditional deal, you’re also beholden to the publisher’s schedule and often have little control over when your book is published. It usually takes at least a year from the time an author gets a traditional publishing deal for their book to go on sale, and this can frustrate authors who want to get their book out quickly. Publishers need long timelines in order to balance their resources, stagger the release of similar or competing books, and ensure the highest-quality production, distribution, and publicity. Still, if you need to get your book out quickly, you may be better off sacrificing some quality for the sake of speed. It all depends on your goals.

2. You pocket most of the revenue

The standard royalty rate for a print book under a traditional publishing contract ranges from about 8-15% of the list price, depending on the format and number of copies sold. For e-books, that figure is around 25% of the net proceeds received by the publisher. With self-publishing, you keep anywhere from 35-70% of the revenue on each copy sold, depending on format and the publishing platform you use. This is perhaps the main reason authors choose to self-publish—because it allows them to capture more of their revenue from their intellectual property than traditional publishing does. That said, a higher royalty rate does not necessarily translate to more money in your pocket overall. Unless you’re in a position to market your book just as or more aggressively than a publisher would, it will be very difficult to sell enough copies to earn significant revenue.

To learn more about the downsides of self-publishing, stay tuned for Part 2.

The First Question to Ask Before Publishing a Book

Whenever I speak with a prospective client, I always ask the same question: “What is your ultimate goal in publishing your book.”

The answer to this question can help you determine the right publishing strategy for you. For example, should you seek a traditional book deal or is self-publishing the better option? How much time and money should you invest in the process? How should you position and market your book so it reaches the right audience?

Few authors can answer this question. Some will say something vague or obvious like, “I want my book to reach the widest audience possible,” or “I want to change the way people think about X",” or “I want to be a New York Times bestseller.”

Here’s the thing: books—especially non-fiction ones—do not exist in a vacuum. When approached with a clear goal, they can help you achieve even more important professional and personal ambitions. Do you want to generate more clients for your business? Position yourself as a subject-matter expert so you can pivot your career? Do you want to be a full-time author or speaker?

When thinking about your goal, I urge you to look beyond the number of copies you want to sell or how much money you want to make. Those are not goals; those are metrics. The clearer you are on what you hope to accomplish, the easier it will be to decide on a strategy—and the likelier you are to be successful.