Traditional vs. Self-Publishing (Part 1)

Now that I am on chapter 16, I can see the end. I have all of the main characters in the book and I’m trying to keep the reader interested by giving the main characters challenges to overcome without getting bogged down.

However, as I move forward, I am struggling with what to do after I finish my first draft. Should I try to publish my book using traditional methods or should I self-publish? If I want to go down the road of traditional publishing, I would have to find representation and begin querying. Sending out letters to agents and wait to see if they have any interest in my book. This would be a long process whereas if I am going to self-publish, I will have to do everything myself. Since I couldn’t make up my mind, I began researching the pros and cons of traditional publishing compared to self-publishing.

What are the pros and cons of traditional publishing?

1-Perceived prestige especially if you get published by one of the ‘Big Five’ (Hachette, HarperCollins, Macmillan, Penguin Random House, and Simon & Schuster). I guess this kind of validation is attractive,m but doing things because of prestige is too much like people wanting to attend Ivy League Schools for the perceived prestige. However, many of these publishers will not take a risk on a writer who they don’t think will earn enough to cover their marketing costs. While there is the benefit of a huge marketing team behind you, they often do not spend too much time or money marketing a first-time author.

2-Another benefit is after you get representation, you will get an advance for the book before publication. First time authors get about $5,000.00 to $10,000 for their first book. This sounds nice, but if you don’t earn the advance back, they will not push your next book even if you have a contract. It was suggested to me that if your book is not a huge hit, the main stream publishers may just drop you.

3-With traditional publishing the entire process is out of your hands. You give up control of the production of the book. If you have an agent, they can take 15% of your proceeds and have right to your work for a long time. You will also receive less in royalties (10% for hardcover and 8% for a paperback). Again, as a new writer you have to actually find an agent which can take a long time. The problem is knowing how hard will the agent work to promote your book as a new writer. How much risk is an agent willing to take on a new writer?

Stay tuned, to my next blog where I will discuss the pros and cons of self-publishing.