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Self Publishing vs Publishing companies

Fenix

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Since I'm thinking about publishing a novel, what criteria do I have to consider to choose between self publishing and a publishing company?

When is self publishing better than publishing companies and viceversa?
 
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Mattie

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Think that's always the great debate! A personal choice. Costs! Marketing! And whether you've done your homework in the first place as a writer. Just buy studying a lot the last few weeks on writing, I discovered I need to tear it apart sentence by sentence and paragraph by paragraph and do some major changes. If you're looking to make a lot of money off a novel right away, I don't think it will happen if you haven't practiced a lot of hours on your skills, and reading a lot of people's writings, sentence structure, sentence development, plot, dialogue, showing/telling, and grammar usage all has to be refined. I've had one major editor look at my stuff and another top instructor and both say I write well, but picked out all the stuff I need to work on, so before you even get to the publishing, it would be a good idea to hone in on those skills.

I just play on going through Hayhouse: http://www.balboapress.com/Packages/CorePackages/Compare.aspx
I haven't completely decided yet, but I see that if I went through the process of going the other route traditional publishers I'm depending on them to decide whether my novel is worth publishing. And I suppose many people do take that option, but also probably take a big chunk out of your profits with contracts.

I just like the packages better with Hayhouse than Lulu. Again it's just a personal preference.

I know others use create space, I think still you have to have a fanbase and know how to market your book and of course what I'm hearing is the publishers don't always promote your book for you at stores. I think it's pretty much in your hands today whether your book succeeds or fails.
 

Texan

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When it comes to publishing, very very few people will ever be JK Rowling or anyone like that. Most people who do get published by a traditional publisher will make a few thousand a year at most and have their book tied up with a publisher for years with little control.

Self/Indy publishing requires some know how and upfront costs, but in my mind it has more upsides. Check out the threads here on self-publishing. I have 11 books and self published and I can tell you that I've never regretted my decision to go that route.
 

Charnell

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upfront costs
Which can be as low as $0, if you put out a raw book.
$0-$10 if you design your own cover (stock photo costs)
$35 if you use a premade cover, $150+ for a custom made one

$30-50 an hour for copy editing (at 80,000 words, roughly $1,200) to check for spelling mistakes and grammar errors, punctuation and consistency.
$40-60 per hour for developmental editing (at 80,000 words, roughly $2,400) to make sure the story flows, makes sense, etc.
Do you have to have all of that editing? Hell to the no. Should you do that? That's up to you.

You'll also have to format it, which can be done by you or you can pay someone to do it for you. You could get it done on fiverr for a few bones, at least for digital distribution.

Or have a friend do it. Or have a college student do it.

Don't forget marketing.
 
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Texan

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I spent $5 dollars on fiverr for someone to format the interior of my first book. It continues to be a best seller. I had my wife edit it. And I made the cover.
 

Fenix

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Texan, can you suggest some threads in particular?
 

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https://www.thefastlaneforum.com/co...k-then-finding-a-publisher.47831/#post-297263
A while back,, this subject came up in another thread. The text below details what it takes to get a deal with a traditional publishing company. (Being lazy, I just posted most of my response from the prior thread, but if you hit the link above, you might get some additional insight form other forum members. Hope this helps!)
________

If You Want to Publish Traditionally (As Opposed to Self-Pubbling)...

YOU'LL NEED AN AGENT: To get a traditional fiction publishing deal, you will almost certainly need an agent. Very few traditional publishers will even look at un-agented stuff anymore. Your odds of securing a top agent about 10,000 to one. This is based on the number of queries they receive versus the number of new clients they accept annually. Even if you do get a top agent, this doesn't guarantee you'll get a publishing deal. (I'm living proof of this.)

AGENTS SHY AWAY FROM SELF-PUBLISHED WORKS: Agents want a fresh, shiny new books to represent. If you've already published your book, it's no longer new and shiny. The obvious exception is if your self-published book does really, really well. Then, agents and publishers will come knocking on your door.

GETTING AN AGENT TAKES MONTHS/YEARS: Let's say your work is the next Harry Potter. It will probably still take months, possibly years, to get an agent. You've got to send them a snappy query letter begging them to read your novel. It’ll take them weeks/months to read that letter. If your query interests them, they’ll agree to read part (or possibly all) of your novel. If your novel impresses the snot out of them, and they think they can sell it, they'll offer to represent you. Victory! But wait…

GETTING A PUBLISHING DEAL: Now you have an agent, so you've made it, right? Alas, wrong. Now, your agent must sell it to a publisher. In order for this to happen, an editor must fall head-over-heels in love with it, and his/her superiors must agree to add your book to their lineup. This is no small feat. Plus, it also takes weeks/months/possibly years before you’ll see your book in print. But let's assume the first publisher loves it, and they want it NOW. It will still take nearly a year before your book makes it to the shelves because your book must be edited, slotted into its schedule, and then finally released.

GETTING YOUR MONEY: If you sell your book to a traditional publisher, they’ll pay you an advance against royalties. For new authors, this usually ranges somewhere between $1,000 to $10,000. You probably won’t get all this money up front, but rather in increments as the publishing process moves forward. Regardless, you will not earn another dime until your book “earns out.” Most books don’t earn out their advances, which means that your advance is all you’ll get. Plus, your chunk of the sale per book is much smaller than if you self-publish. After all, the agent and publishing house have invested a considerable amount of effort into this, and need to be compensated. Speaking of money, all of your money will be routed through your agent, who will take their cut and pay you the rest. This means that when you sell a book, it will take months before you get your money for it.

IN SUMMARY…

DOWNSIDES OF THE TRADITIONAL ROUTE: It takes forever, it’s demoralizing, and you spend an incredible amount of time and effort trying to get a whole bunch of people to say “yes”. If even one of them says “no,” your deal is dead in the water.

TO BE FAIR, HERE ARE SOME UPSIDES: Once it’s actually published, your book will have immediate, wide distribution. You’ll see it at your local Barnes & Nobles, and you won’t have to worry about formatting your pages, designing your cover, or uploading it to Amazon. Your book will be professionally edited and probably glorious. You’ll benefit from free publicity and built-in promotional mechanisms. You may sell more copies than if you self-published, but this doesn’t mean that you will personally make more money because your percentage of each sale will be significantly smaller.

If you’re seeking real, honest advice about your book, I’d say this. If you like the idea of going the traditional route, you can always do that. Try to get an agent. Lightning might strike on your first try. Like the lottery, it does happen for some people. If you do try to get an agent and fail, you can always self-publish. But you can’t necessarily go the other way. Once you’ve self-published, your book must perform amazingly well, or an agent won’t touch it with a ten-foot pole.
 
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