The Differences Between Traditional Publishing & Self-Publishing

There’s nothing like the feeling of finishing a long and drawn-out project. When you’re a writer, it’s an amazing feeling to see all of your thoughts and ideas created into something palpable.

Now the next step: publishing it.

Of course, you have the decision as to whether you’d like to publish it at all. I personally know someone who worked for a few years on a novel only to decide not to publish it.

Ultimately it is her decision and I know it is a project that is close to her heart and I respect that.

In saying that, let’s compare the options that she had that available to her and the same ones that are currently available to the rest of us aspiring novelists, poets and academics:

Traditional Publishing

According to The Creative Penn, traditional publishing or trade publishing “refers to the established system of getting a book deal, which involves submission to agents over a period of time, usually after a number of rejections and then (hopefully) being accepted”.

Pros:

• Widely seen as the more distinguished route
• Rub shoulders with other writers and experts in the industry
• Higher probability of getting your work in a book store

Cons:

• You lose your full creative control
• Fewer royalties

Self-Publishing

According to the Cambridge dictionary, self-publishing is defined as “the process of paying and arranging for your own book to be published, rather than having it done by a publisher”.

Pros:

• You have complete creative control. You decide how the book will look, read, and be marketed
• More royalties when you do it yourself. The Creative Penn says “if you price your book between $2.99 and $9.99 (on Amazon), you can get a 70% royalty. Traditional royalty rates usually fit in the 7–25% bracket, averaging 10%”.

Cons:

• When you’re the boss, you’re everything: the marketing department, the editors, the design team…it can be draining unless you outsource which costs money
• It can be hard to get your name out there without the help of a publishing company backing you

Forbes magazine advises for fiction writers: “ Self-publishing is the way to go. That’s because you can keep 70 or 80% of your book sales revenue, as compared to 20% under the traditional model.”

One isn’t necessarily better than the other. It’s important to remember when it comes to publishing, it’s not which is best, it’s which works best. Every writer’s situation is different. It’s up to that writer to decide which publishing road would suit them better.

Do you have a personal preference? Which route would you choose if you had the opportunity to pursue publishing your work?