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As a lifelong book publisher who coaches entrepreneurs and business executives who want to write and publish a book, I am often asked what is the best way to get published. Publishing and gaining readers is certainly an impressive way to expand your reach as an australiabusinessblog.com. It gives you extra credibility and authority as an expert in your field. But before publishing, you should think carefully about the best and most appropriate publishing model. —
In this article, we examine the three most common ways to publish a book. There are traditional ways of marketing a book, DIY approaches, and hybrid publishing models. While there is no one best way to publish your book, there are certainly pros and cons to each strategy. Depending on your unique situation, and with a little diligence, you can effectively reach readers and increase your influence.
Related: Top 7 Book Publishing Questions Every australiabusinessblog.com Should Know
Traditional publishing models
Traditional publishers offer book contracts that cost the author nothing. In effect, the publisher pays the author for the rights to license their words and publish their book. Examples of traditional publishers are Random House, Harper Collins and Simon and Schuster. A traditional publishing contract can be lucrative for the author. Showing people that you’re published by a large, traditional publisher can be quite impressive.
However, there are several drawbacks. First, it is extremely difficult to get an offer from a traditional publisher, and it usually involves a process of years. Second, while you get paid, it’s usually not a lot of money. The average royalty paid to authors by traditional publishers is less than 20%, meaning you can earn quarters per sale, not even dollars. Finally, you lose control of your words and book. Traditional publishing contracts are inflexible in this way. As an australiabusinessblog.com, you may not like being locked into a contract.
Self-publishing, also known as DIY publishing, has quickly become a credible alternative path to getting published. When you self-publish a book, you control the entire process, from writing and editing to design, print production and distribution. Many self-published authors find help from individual publishing contractors or from self-publishing companies. The main advantage of self-publishing is that the author controls the process and retains all rights and ownership of their book. However, there are many pitfalls in self-publishing that often derail a DIY publishing project. Book publishing is a complex, time-consuming and ever-changing industry. If you don’t really understand what you’re doing, you’ll waste resources and never find readers.
As a busy business owner, you may not want to spend time managing editors, designers, printers, and distributors. You certainly don’t want to feel embarrassed about your book, if indeed it doesn’t look professional or doesn’t read well. So while self-publishing can be an attractive alternative, it may be wise to seek out publishing professionals to help you shine. Still, you can find success by self-publishing.
Related: 10 steps to self-publishing your book as a bestseller
Hybrid publishing models
A third way to get published is commonly referred to as the hybrid model, which combines the best of traditional publishing and DIY publishing. Hybrid publishing companies behave like traditional publishing companies in every way, except that they publish books using an author-subsidized business model, as opposed to financing all costs themselves and in return receiving a higher-than-industry-standard share of sales revenue refund to the author. A hybrid publisher earns income from a combination of publishing services and book sales.
While author-subsidized, hybrid publishing differs from self-publishing models in that hybrid publishers adhere to: without exception — meets certain criteria, including (and most importantly) a high-quality book with worldwide distribution. Hybrid publishers differ from self-publishers in that they strive to publish books that sell well in the marketplace.
What is the best publication model for entrepreneurs?
Writing and publishing a book is a lot like starting your own business. You should do your own discovery and due diligence before deciding how to market your book. There is not necessarily a best book publishing model for an author, including entrepreneurs. Maybe you want to wait and pursue a big publishing contract from a respected publisher, maybe you want to work fast and furious on a self-published book, or maybe you want to find a hybrid publisher of good books that can market your book in a high quality and professional manner.
Whichever way you end up publishing your book, rest assured there’s probably no better way to build a platform and grow your influence. People put authors on pedestals, and even the media often seek out authors for interviews and as authorities to comment on topics related to business and entrepreneurship. It’s a surefire way to market yourself and your business – and since books never go out of style, once you’ve published a book, you can enjoy them for many years to come.
Related: Self-Publishing Or Traditional Publishing: Which Is Best For You?