Self-Publishing vs. Hybrid vs. Traditional Publishing--which is the right choice for you?
I'm often asked to explain the differences among these three publishing models so people can select the most suitable path for them.
Here, I will outline the key features and benefits of each model, highlighting a few pros and cons in each case. Of course, there are many other elements to consider when deciding; however, my goal here is to remove any confusion and make things clearer.
Let's begin with the traditional publishing route.
What it is: A publication company (usually in major cities like New York, LA, or London) will handle the production of your novel using a team of experienced individuals who specialize in the essentials; editing, graphic design, and printing.
The advantages:
Your book will turn out beautiful. It will be visually appealing, readable, and made with quality materials. A talented group of book devotees will nurture every detail of your book to make sure the standard is as good as possible.
You'll receive recognition. Having a publishing house publish your book earns you an unofficial stamp of approval. It can increase your career prospects, expand your readership, and even turn you into a famous figure.
Low startup costs
You don't have any initial up-front fees (apart from promotion and PR expenses) and may even get an advance depending on how known you are, your email list number, and social media following. The publishing house is taking the risk by investing in your book, reflected via your advance pay and royalties.
The downside to going through a publishing house:
Hard to Enter
I once read that it is easier to graduate medical school than to land a literary agent.
And literary agencies are the only route for a publisher, and they require you to have a book proposal drafted before they can even consider your work.
Waiting period
Assembling a book proposal, finding an agency, and selling the idea to a publisher can easily take anywhere from six months to two years - so get ready for a long wait. And once your book is released, it may take another year or two before readers can physically hold it. You've got to be patient and prepared for a fair amount of criticism during this time.
Controls
The publisher exercises complete control over the content, timing, costs, visuals, and the level of effort invested in selling your book. They'll expect you to hustle and market the book to make sales quickly and often.
Hybrid publishing is the next thing to discuss.
It involves a professional publishing house taking on your manuscript and managing all of its editorial, design, and publication processes.
The entry level requirement to get accepted is often much lower than traditional publishing.
The perks are great:
With hybrid publishers, your book should look, feel, and read well. Researching houses and hearing from previous authors about their experiences will give you an idea of what to expect.
Plus, you have a team handling most of the work for you. All you need to provide is a fully written manuscript (either that you've written or one that you've paid a ghostwriter to draft) and do the editing yourself.
You won't have to worry about cover or interior design, ISBNs, creating publish-ready files, or any other details related to the book's release - including putting it onto retail platforms.
Cons:
Pay up front, and they take a sizeable chunk of the royalties. This means you need to be prepared for initial expenses (for hiring a ghost writer/editor/proofreader and PR and marketing, plus buying books).
The royalties earned can be higher than traditional publishers, however they still keep part of the money.
It still takes time. Working on their schedule and timeline essentially means that it could take up to one year (or more) for you to finish your book.
Control
Hybrid publishers make the final decisions regarding content, timing, price, art and design; they also decide how involved they would like to be or expect you to be in selling your book.
This method is brilliant for someone who has some money to invest but doesn’t want to bother with all the time-consuming details or execution.
And, of course, you can self-publish.
What it involves: Publishing your book yourself and managing the steps of producing, writing, editing, designing, releasing, and advertising your book.
The advantages:
You have complete power and control. The book's contents, creative elements, and release date are entirely up to you - and you get to keep all the profits.
You can alter any part of the book at any time. It is possible to publish your work and then make changes right away, a few years later, or even a decade from now.
It's up to you how you distribute the book. If you decide to create a secondary guidebook or journal, start a series, or develop a keynote presentation or coursework–all the rights are yours to do with as you please and on your own timeline.
This is the part that convinced me of the value of self-publishing.
The cons:
It's time-consuming.
My word is it ever.
There are many steps to take. Don't just assume you’ll be able to knock out the entire process in a weekend (or month). While it is not nearly as long as the other methods, this form of publishing is still a lengthy process, if done properly.
There is a lot of questionable advice circulating.
It's easy to make costly mistakes. Sadly, there are many people who see the self-publishing industry as a sort of Wild West. They are rebels by nature and resist rules, structure, and systems. They post relentlessly… they rant, actually, about how self-publishing should be a place to do whatever you want.
I think we can all agree that it is perfectly reasonable to ignore these goofballs, right? This is a legit business arena that has sprung out of advancing technologies… it is no longer a place for wounded egos to promote their manifestos.
It is these few mavericks that gave self-publishing its unfavorable reputation. For some, the self-publishing route still implies shortcuts and inferior quality. However, this perception is changing daily and adhering to certain standards will give your work more credibility.
Marketing and PR are all up to you.
This applies no matter which publishing option you go with because even traditional or hybrid publishers often expect authors to do their own promotional activities.
I've become a believer in self-publishing. In the past, I thought it just was not legitimate. My goodness… there were writers selling their books for $.99, turning the writing profession into a giant garage sale overnight.
But I have since found that when done (and priced) correctly, it can be a superb choice.
Eric Myers
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