Once upon a time, publishing a book was an arduous process that only the most dedicated authors could endure. The costs were high, and the rewards were uncertain. But with the advent of digital publishing, anyone can now become an author and share their work with a global audience.
But is it really worth it?
After all, writing and editing a book takes hours of hard work and dedication — not to mention money if you choose to hire professionals for help in production or marketing. With so much effort involved, is self-publishing actually worth it?
The answer isn’t clear cut — there are pros and cons to consider before taking on such an endeavour. In this article, we’ll explore both sides of the issue so that you can make an informed decision about whether or not self-publishing your own book is right for you.
Pros of Publishing a Book
1. Entire Creative Control
When embarking on a book project, authors often have a specific vision for their work. Traditional publishing route may often involve signing a contract that transfers control to the publisher, leaving the author’s original vision open to changes and editing beyond recognition.
Self-publishing offers a solution to this problem by allowing authors to retain complete creative control over their book’s content, formatting, and cover design. This means that you have the freedom to work with designers and editors who understand and support your vision, polishing your manuscript and creating an eye-catching cover that truly represents your book.
2. Increase Your Thought Leadership Skills
An authorship is an excellent tool for establishing oneself as a thought leader in one’s field of expertise. The process of writing a book requires one to delve deep into the subject matter, explore it from different angles, and find new ways to communicate it to others. This process can lead to new insights and connections that may not have been apparent before.
Furthermore, once published, a book serves as a tangible demonstration of one’s knowledge and credibility as an expert in their field. This can open up opportunities for speaking engagements, media interviews, and other professional opportunities. It establishes the author as an authority in their field, someone who can influence, teach and guide others.
Self-publishing allows authors to take control of this process and establish themselves as thought leaders without having to compromise on their vision or wait for traditional publishers. It empowers authors to share their expertise and build their personal brand in the industry.
3. Accelerated Timeline to Publication with Self-publishing
When it comes to getting a book to market, self-publishing offers a faster route compared to traditional publishing. Traditional publishing can take up to 18 months from the time a completed manuscript is submitted to a publishing company. However, the self-publishing process allows for final edits, proofing, and tweaks to be made on the manuscript before listing it for sale. This allows a quicker turnaround time for the author’s creative writing to reach their readers.
Self-publishing eliminates the need to wait for a publishing company’s schedule and allows authors to have more control over the timing of their book’s release. This can be particularly beneficial for authors who have a specific message or timeliness to their work and want to get it out to the public as soon as possible.
4. Extend Your Reach
Publishing a book is a powerful way to enhance your visibility and credibility in the industry. As a self-published author, you have the opportunity to establish yourself as a thought leader and expert in your field.
Your book serves as a tangible representation of your knowledge and experience and can be used as a powerful tool to attract new clients, customers, and opportunities. It’s a testament to your dedication and commitment to your craft and sets you apart from your competition.
Additionally, self-publishing offers you the chance to reach a wider audience and expand your reach beyond the limitations of traditional publishing. With the rise of self-published books and authors in the publishing world, you can now share your story and message with a global audience and take your place as a respected and accomplished author.
5. You Can Use Your Expertise and Experiences
Many self-published authors have found self-publishing to be an empowering way to share their expertise and experiences. Whether your book is non-fiction, a memoir or a collection of short stories, writing a book gives you the opportunity to share your knowledge and insights with the world.
No matter what type of book you plan to write, with self-publishing, you have the freedom to create and express yourself without having to compromise on your vision or writing style.
6. No Approval Needed
The traditional publishing world is known for its strict guidelines and constraints, and the process of getting a traditional publisher’s approval can be both time-consuming and frustrating. Bypassing the traditional publisher and self-publishing your book, you gain the freedom to share your story and ideas without the limitations imposed by publishing houses.
Self-publishing eliminates the need for approval from gatekeepers, giving you the power to take control of your publishing journey and bring your work to the world on your own terms. You have the opportunity to create a book that truly represents your vision and message rather than adapting to the preferences of traditional publishers.
Furthermore, self-publishing allows for greater creative control and the potential for a larger return on investment. With self-publishing, you retain ownership of your work and have the ability to market and distribute your book in ways that align with your goals and vision for publishing success.
7. Gives You an Opportunity to Do Research
Writing a book is not only an opportunity to share your story or message with the world, but it also serves as a powerful tool for personal and professional growth. Through the research and writing process, you have the opportunity to immerse yourself in a topic that interests or matters to you and gain a deeper understanding and knowledge of it.
Book writing can provide a unique learning experience that can be both challenging and rewarding. Even if you don’t choose to publish the book, the experience of researching and writing can serve as a personal accomplishment that helps you refine your creative process.
PERKS: Though not every book needs to make it through the publishing process, simply writing one is an amazing way to accomplish a personal goal. Plus, you’ll gain invaluable knowledge that can be helpful for future book sales or even for getting a contract from a traditional publishing house.
8. Higher Royalty Rates
It’s time to let go of the unrealistic notion that a new author will walk away with an enormous signing bonus and lucrative contract. In reality, if they are lucky enough to get any sort of advance at all, it is likely not more than a few thousand dollars. To make matters worse, no future royalty payments will be made until your book sales have covered this initial outlay.
Compared to the meagre $1 per unit sold by traditional publishers, self-publishers have a major advantage: they receive royalties amounting to 70% of the list price, minus printing costs – an astounding five times more than what publishers offer. This means a self-published novel can earn more than $10 per book, which quickly adds up when book sales start to increase.
9. Helps You Build a Network
It’s no secret that writing a book can open up opportunities for you. Networking with others in the same industry and building relationships with potential partners, such as bookstores or distributors, can prove invaluable for the success of a book.
Self-publishing also allows you to become your own publisher and build the reputation of your own publishing house, which in turn can help to establish you as an industry leader and attract more business opportunities. Having a book published under your own name or imprint can greatly benefit career development and personal branding.
By writing a book, you also have the opportunity to connect with a global audience and expand your reach beyond your local area. Through the use of various digital platforms such as Amazon and Goodreads, it has never been easier to reach readers all over the world.
Cons of Publishing a Book
While self-publishing offers many benefits, it is not without its own set of challenges. Let’s explore some of the potential pitfalls that come with this route:
1. Upfront Costs
Contrary to traditional book deals, self-publishing can lead to hefty upfront costs for authors. Everything from editing and design services must be covered by the author, whereas with a traditional publishing agreement, these tasks are handled in-house at no additional cost.
2. Finding an Audience
To write a book is one thing, but actually, finding an audience is a completely different challenge. Without the backing of a traditional publishing house and its marketing resources, it can be difficult to get noticed. Traditional publishers may also have more clout when it comes to getting books stocked in bookstores, which is essential for a book’s wider success.
3. Self-Marketing
A BIG CHALLENGE!!!
Self-marketing is a huge challenge for many authors. It requires time, energy and resources to gain visibility, create engagement with readers and effectively promote the book. Without an experienced marketing team and a pre-existing audience, it can be difficult to generate the necessary buzz to make your book stand out.
While traditional publishing companies typically provide a more modest budget for book promotion than in the past, it is still an important contribution towards your success. Self-published authors, on the other hand, must fully fund their own marketing efforts.
If you consider publishing your book on Amazon, keep in mind that there are 6 million books listed in the Kindle Store, so it is important to stand out and stay competitive.
Factors to Consider Before You Publish
- Is Your Subject Over-Published? – It’s important to research the market and see if there are already a lot of books on the same topic. If so, consider how you can make your book stand out and appeal to readers.
- Are You Ready to Maximise Your Book’s Reach and Promotional Potential? – Once your book is published, it’s important to promote it effectively to reach readers. Consider how you will market your book, whether through social media, speaking engagements, or book signings.
- Is Your Writing Good? – Before you publish, make sure your writing is polished and ready for readers. This includes proofreading, editing, and getting feedback from beta readers.
- Will Your Book Soon Be Dated? – Consider the timeliness of your subject. If your book is about a current event or trend, it may have a limited shelf life. Consider if your book will still be relevant in a few years.
- Are You Ready to Invest the Necessary Resources into Publishing a Book of Your Own? – Self-publishing can be a great option, but it also requires a significant amount of time and money. Make sure you are prepared for the work and expenses before you make the decision to self-publish.
Final Thoughts: Is Publishing a Book Worth It?
In the end, it’s up to you to weigh your self-publishing options and decide what is best for you and your book. Think through the pros and cons of traditional and self-publishing, and determine which path is right for you.
No matter what you choose, remember that your book is a reflection of you, so take the time to do it right. Don’t rush through it, and don’t be afraid to invest in yourself and your book. With the right strategy and determination, you can make it worthwhile.
If you would like to work with us on getting your book produced, published and marketed to the world, reach out to Mind of Khan Studios at info@mindofkhan.com or call us at 1-647-770-1030.
For even further advice on book publishing, you can check out the Mine Your Mind Podcast with authors Mikkell Khan and Verena Boodoosingh.