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Why Self Publishing was Worth It for Me
Once upon a time there was one path to publication. An entire industry grew to support this path– agents, editors, publishing houses etc. But although the industry made money, was it in the best interest of the authors? Over time, we all grew to just accept this was the process, and you didn’t go into writing to make money. But times have changed. And now, there is definitely another path to publication. The question often asked though, Is Self Publishing Worth It? Let’s examine:
In December of 2020, I made the decision to self publish and officially submitted my completed manuscript to an editor. One MFA, ten years, two kids and I decided to turn my manuscript baby into my first published novel myself. I knew the next six months would be rough, going through rounds of edits, formatting, publishing, marketing, learning the ropes of everything as I went. All while still balancing real life with a day job and family and in the midst of a pandemic. But I was making it happen. However, people kept asking why I was going that path. Why wouldn’t I at least try the traditional path?
My answer was– I did my research. Much like I do for my historical fiction writing, I dug deep to get all the facts. My takeaway– it was the best path for me. Here’s why.
Understanding you HAVE a Choice
I chose self publishing as a conscious choice. It was not an after thought, it was not me giving up because of rejection. I WANTED to self publish and I want others to understand that. Both as readers and also as other writers contemplating self publishing for themselves. Because the most important thing of all, is the freedom to choose your own path. As with every major decision in life, there are pros and cons to weigh. This was the path I chose, but it will not be right for every author.
There’s a stigma still attached to self publishing. But I question if that remains because of simple misinformation. Does the public truly know enough about the industry? Today I hope to alleviate some of those negative associations and help others understand why self publishing is worth it.
Consider Your Time
I know plenty of writers. Extremely talented writers, sitting on amazing manuscripts, waiting for their chance to come. They send endless pitch letters, praying to be accepted. I know writers who HAVE been picked up by agents. But then, the process take years till publication. And they were still responsible for all the marketing themselves and only claiming about 10% of each sale. I heard repeated over and over that writers don’t go in it for the money, it’s for the love of the art, right? But in this digital age where anyone with a voice and an internet connection can build a following and make a living should that really still be the case?
There are self published authors who give credence to the hack stigmas. But there are also extremely talented, big name authors out there who either began their careers by self publishing or who are now leaving their traditional publishing houses to voluntarily self publish moving forward. Why? Because it makes more financial sense! And it gives an author complete independence and authority over their work and their timeline to publication.
Taking a Look at the Numbers-
Many authors assume traditional publishing is the way to go because of the advance. You do get an advance up-front. While in self publishing you must lay out your own publishing expenses. However, those advances are much smaller than they once were. Newbie authors in 2024 can expect to see an advance somewhere between $1,000- $10,000.
But there’s a downside to that advance as well. Authors don’t see royalties until their advance is repaid. And according to the Penguin/Random House/Simon Schuster anti-trust trial in 2022, it was revealed that out of the 58,000 trade titles published each year, half of those titles sell less than one dozen books. Therefore, many newbie authors do not ever sell enough copies to make that advance back. If you do, depending on the contract, you might only see 10-15% per copy.
In contrast, you see your royalties immediately when you self publish. And in self publishing you can get up to 70% per copy.
The Actual Budget for Self Publishing
How much are you actually laying out to self-publish a book? Considering you control the choice of vendors you work with, you can control your budget. The real non-negotiable expenses should be your cover designer and your editor. You MUST get your book edited to stand professionally against traditionally published books. (That’s how you avoid the hack stigma!) With these and other preparation costs- Getting an ISBN number, purchasing layout software or getting a vendor to do that for you etc.- I’d say, you can self publish a professional looking book for somewhere between $3,000-5,000.
A Side by Side Comparison
Basically, the numbers favor self publishing for authors. Self Publishing is worth it, it’s very hard to dispute that. It’s also hard to dispute the autonomy self publishing offers. However, not all authors want the pressures of that decision making. There are also authors who are less comfortable with technology and the idea of formatting and uploading everything themselves. And that’s ok! Again, that’s why I say the important thing here is the freedom to choose.
Just know that you as the author are in the driver’s seat. You wrote the book, therefore you get to decide how you want to publish it. But please treat this decision as a business decision! Because this IS a business. Even if you’re publishing just to see your words in print, you still should aim to make money off of it. No other business in the world expects people to just do it out of love. No plumber fixes a toilet for free or pennies because he loves plumbing. Therefore, neither should authors.
So, no matter your path, make sure you negotiate, ask questions and advocate for yourself as the small business owner you are. Good luck!
Feel like you need support in navigating your author journey? Book a coaching call with me today and let’s discuss how you can achieve YOUR author business goals! I work with ALL authors regardless of their publishing paths at all phases of their career.
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