One of the first and most important things you’ll have to decide for your author career is whether to pursue traditional or independent publishing. This choice will affect the development and production process of your book, as well as how you get paid. There are pros and cons to both indie and traditional publishing, but it boils down to two major factors: money and control.
Note: The traditional publishing process is different for fiction and non-fiction. For the purpose of this entry we’ll be focusing on fiction.
Traditional Publishing
If you choose to pursue traditional publishing, there is no up-front cost. Your first step after polishing your manuscript will be to find a literary agent. This process is called querying. You will begin by researching agents and strategically sending out queries pitching your manuscript. Once you have an agent, they will submit your book to publishing companies that they thing would be a fit.
If a publisher want to produce your book, they will send you a publishing contract. The terms of the contract might include an advance or you might be compensated in royalties only.
There is no guarantee of securing either a literary agent or a publishing deal, and your agent or editor might want to make creative changes to your book. You’re giving up control in exchange for not spending money.
Independent Publishing
If you choose the route of independent publishing, you are responsible for the production cost of your books. When your manuscript is polished you will need to work with a freelance editor, proofreader, and cover designer in order to have a professional finished product. The cost of all of these can vary wildly depending on your needs (I’m currently planning a journal entry on cost-saving tips for indie authors on small budgets.)
Your editor will give you advice if anything in your manuscript isn’t working, but ultimately you remain in charge of the creative vision for your book, and you can guarantee your books will end up in your readers’ hands. You are investing money but maintaining control.
No matter which path you choose, you will still need to consistently market your books while consistently working on your next manuscript. Consistent effort over time is your key to success.
FEEDBACK WANTED:
What other questions do you have about the differences between traditional and indie publishing?