Should I self-publish or traditionally publish my memoir?

“Should I self-publish or traditionally publish? Which is the better publishing option right now?”

I FOUND A VERY INSIGHTFUL ARTICLE ABOUT THIS CONONDRUM

“The problem with this question is the answer can be very complex. There are so many different factors that could possibly come into play, and the answers are not always cut and dry.

But…it’s only complicated for about 2% of authors.

For 97% of authors, the answer is very clear: self-publishing is the right choice.

For the other 1% of authors, the answer is very clear in the other direction: traditional publishing is the better choice.

This post is for that 98% of authors who should clearly go one way or the other and is designed to help you easily and quickly understand which side you are on.”

WHAT IS THE DIFFERENCE BETWEEN SELF-PUBLISHING AND TRADITIONAL PUBLISHING?

There is only ONE key difference:

If the author owns the rights and royalties, then the book is self-published.

If the publishing company owns the rights and royalties, then the book is traditionally published.

That is it.

WHO SHOULD TRADITIONALLY PUBLISH?

First off, it’s really hard to get an offer to publish through traditional publishers.

But if you can get an offer, you should (almost certainly) take the deal.

These are mainly the types of people who can get those deals:

• Big celebrities

• Famous athletes

• A-list actors

• Politicians

• Household name CEOs

• Professional writers (novelists, etc.) with a history of high sales

• People with deep connections in the publishing industry

WHO SHOULD SELF-PUBLISH?

Just about everyone else:

• Business owners

• Consultants

• Entrepreneurs

·        Businesspeople

• Financial planners

• Lawyers

• Doctors

• Coaches

• First-time authors

• Anyone else who just wants to write their book

WHAT ARE THE ADVANTAGES AND DISADVANTAGES?

Self-Publishing

Advantages	Disadvantages
Self-published authors have full ownership of rights and royalties	You must make sure the book is good in all aspects. If it’s unprofessional in any way (writing, cover, marketing, etc.), it will make you look bad.
Completely customisable in all aspects	It’s time consuming to learn and manage the process yourself.
Fast to market (6 months)	If you hire excellent professionals to help you, it’s expensive.
Complete control of marketing	There’s either a lot of work, or a lot of money, to get it right.
Complete creative control
Complete freedom, no gatekeepers telling you what you can and cannot do
Self-published books have a significantly higher profit potential
Can do niche books (which are a huge advantage for most authors)

Traditional Publishing

Advantages	Disadvantages
Monetary advance prior to publishing (no up-front cost)	Nearly impossible to get a deal (less than 1 percent of proposals are accepted)
Publisher invests the money to publish the book (and they usually can ensure professionalism)	Huge time investment (the traditional publishing process is overly complex)
Highest potential for traditional media coverage	Very slow to market (2+ years)
Highest chance of print distribution in bookstores	No ownership of your manuscript rights
Sends signal of validation (to some people)	No marketing control
	No creative control
	Limited financial upside
	Won’t do niche books

SELF PUBLISHING VERSUS TRADITIONAL PUBLISHING

First answer this question: Can you get a traditional publishing deal?

If you can get a deal, go to the next question.

If not, then self-publish.

If you’re unsure whether you can get a deal or not – this is important: To traditionally publish you must have an audience of a few thousand people waiting to buy your book specifically.

 IF YOU CAN GET A TRADITIONAL PUBLISHING DEAL, SHOULD YOU TAKE IT?

“It depends on what you value:

If the answer is status, go traditional.If the answer is validation, go traditional.If the answer is quick money, go traditional.If the answer is long-term wealth, self-publish.If the answer is freedom, self-publish.If the answer is creativity, self-publish.If the answer is making an impact, self-publish.

Conclusion: Self-publishing is probably the right answer (97+% of the time)

Like almost all things in life, when you take out the weird fringe exceptions, it becomes clear and easy to understand.

97% of authors should clearly self-publish.

1% of authors should traditionally publish.

The other 2% should take a lot of time and effort and do the research so they can make a hard decision.”

CONTACT ME FOR A FREE DISCUSSION OF YOUR MANUSCRIPT

Let’s talk and have a look at your manuscript – as an author coach and publisher I would love to help you!