Publishing: A crash course to demystify the subject
So you've finished your book (congrats!), but you may wonder "what do I do now?" Well, this is a guide for you.
In my experiences in teaching writing classes, I very quickly discovered that publishing is a huge enigma to many, if not most, authors. After all, we're artists, not businessmen! So, let's break it down. It's not so scary after all!
Now, when it comes to publishing your works, there are two main paths available to you: traditional publishing and self-publishing. Let's address them now.
Traditional Publishing Route:
This route involves being published by an already-established publishing house, literary magazine, poetry/etc journal,, or external organization. To go the route of a publishing house, it is recommended that one first pitch to a literary agent. This involves finding an agent who's values and interests align with the theme and narrative of your book. An agent typically has their interests listed on their website or contact information. To be published in a lit magazine, journal, or organization is similar, but usually does not involve and agent. It is recommended that you read the publication you are submitting to so that you can be sure that your submission fits their aesthetic.
Now, what does being published by a publishing house entail? Why should I go that route?
There are 3 main perks of trad pub:
The book will be paid for by the house (cover art, any necessary editing, ISBN, and any other expenses the book requires upon acceptance).
Some publicity and marketing aid (though the majority of the marketing will still mostly be up to the author).
Typically, an author is paid an advance from the publisher, which is meant as security while the author works on the next book/contracted work.
Creative decisions are handled solely by the publishing house (an example is that you won't be choosing your cover, etc.) I do want to address the typical fear that a publisher is going to "change your story." Keep in mind that this rarely happens, because if they didn't like your story, you wouldn't be signing the contract in the first place.
Once you receive an advance, you will not receive royalties per sale until the advance price is exceeded (example: if your advance is $20,000, you will not receive royalties on your book until it has sold over $20,000 worth of copies).
Publishers usually want worldwide rights. It is imperative that you, as the author, READ YOUR CONTRACT. Remember, copyright is for the duration of your lifetime plus 70 years.
If a book is rejected, it usually cannot be used elsewhere. Honestly, I'm not sure how this works. Remember -> a publisher only wants to make money. They do not care about making your dreams come true.
The author has complete control over all aspects of the work: story, cover, copyright. You can do whatever you want with the work, as you own all rights to it.
A self-published book makes royalties per sale, typically a higher royalty than that of a traditionally published author. An indie usually makes 50%-70% off of each sale, while a traditional author makes a percentage of 20%-30%.
Complete creative freedom.
All expenses for book production are out of pocket (unless the author has a successful crowdfunding campaign, etc.) This includes cover art and editing.
All marketing must be done by the author.
Now, some tips for the indies:
Covers can be made affordably on websites like canva.com.
Do not skimp on editing. This is one of the most crucial parts of the book. Remember: the cover will sell the first book; the story will sell the rest.
Buy your own ISBN. In the US, that is done through Bowker and myidentifiers.com.
Free ISBNs can be used on places like KDP(Amazon Kindle) and IngramSpark(for bookstores), however, I would recommend only using those for side projects or smaller publications.
Do not use the Extended Distribution option on Amazon. This is unlikely to get you into bookstores and could hurt your royalties. Instead, use IngramSpark(etc). Idk why, but most bookstores hate dealing with Amazon.
Be sure to offer bookstores a 55% wholesale discount and make your book RETURNABLE. This is the standard, and bookstores strongly prefer anything within it.
And lastly, when it comes to actually putting a physical copy in a store, please be courteous and remember: bookstores care about one thing -> shelf space. Don't be greedy. Most likely, the store will only have the space to stock one of your books. If your book sells, then ask for more than that.
That's all I can think of currently. If there are any more questions, feel free to comment and I'll do my best to answer them. ^_^,