A word of warning: self-publishing is a rapidly changing business model; as such, this guide is intended to give starting points for further research.
Self-publishing, once a fringe practice in the book world, has become increasingly popular with authors in today’s digital environment. Now an author can publish almost immediately via print-on-demand or e-book technology through “independent” or “self-publishing entities” without having to suffer the inordinate 18-24 month delay that is the norm at many traditional publishing houses. And while the self-published author almost always foregoes an advance, royalties earned by these authors can be significantly higher, sometimes more than twice the highest royalty a traditional publisher will offer. However, it is important for authors considering e-book or POD publishers to be aware of the pros and cons of this publishing model. The following is just a short list of considerations for any author looking into self-publishing:
Some benefits of self-publishing:
- Higher royalty rates. Self-publishing offers significantly higher royalty rates than traditional publishing. This is because the author is doing most of the work normally assumed by the publisher. It’s important to review the requirements of your specific self-publishing company in order to decide if you’re ready, willing and able to take on the challenge.
- More control over the process. If you’re going the self-publishing route, you’ll have ultimate control over the sale of your work. You can decide the format, the distribution channels, and the marketing strategy. Although this can be an exciting endeavor, make sure that you have the time to properly manage the process to meet your expectations. The success of your work can be affected by your personal efforts.
- No need for an agent or publisher. In a time when traditional publishers and agents are becoming more and more selective about the types of books that they want to publish, many worthy books can be overlooked. If you simply don’t want the hassle of dealing with the traditional publishing model, then this could be a good avenue for you, so long as you are aware of the potential rewards and risks.
- Get paid more often. Self-publishers often pay royalties more often than traditional publishing houses. Some traditional publishers pay their authors twice or even only once a year, while self-published authors often receive royalties quarterly or even monthly. When self-publishing, you are more likely to receive your money as you earn it.
Some pitfalls of self-publishing:
- You must act as your own support team. Publishers employ large staffs to edit, design covers, and to market books, among other support functions. Another thing that publishers bring to the table is their brand, which lends a certain amount of credibility to any work associated with it. Without these built-in resources and professionals to help your work along, it can be difficult to achieve the same success. Consider what you will need to be effective on your own—access to reviewers, a strong social media presence, frequent promotional appearances—and how you will be able to achieve it on your own. Keep in mind that many authors have had trouble working with self publishing entities, so be sure to research the particular publisher’s reputation before signing anything.
- You must sell your work yourself.In most cases, unless the self-published author actually orders copies of their own books themselves and makes a deal with a local bookstore to sell them on consignment, the self-published author’s books will not be available for purchase in brick and mortar bookstores. As such, there may be limited opportunities for a self-published author to promote their Work in an actual bookstore, and any arrangement to do so will almost always be made by the author rather than the publisher. Likewise, book reviewers usually do not review self-published works, so it becomes harder to create buzz around the work, regardless of its merit.
- Scrutinize the platform and beware of scams. Sometimes, it can be difficult to tell legitimate self-publishing platforms from scams. Some e-book and print-on-demand companies’ publishing activities are entirely about selling a product to the author (such as printing, editing, or formatting services), as well as many add-on services they may try to convince the author to buy. Generally, these contracts are non-negotiable and authors must either take them or leave them. Other companies may not charge the author upfront, but they count on, encourage, and sometimes obligate authors to buy copies of their own books in bulk. This type of press is more likely to be a scam, so beware. Make sure that the company you choose has a good reputation and that you are comfortable with its business model before putting any money down.
- You bear all the financial and legal risks. Chances are that, if you are self-publishing, you have had to cover a lot of the production costs that would normally fall to the publisher. This can be a risky proposition because if your book does not do well, you may never recoup those costs. Another factor to consider is the possibility of libel and other types of lawsuits against you and your work. These can be incredibly expensive and time consuming to defend, so if you feel that your book may be a legal risk, then you should try to seek legal advice and investigate the purchase of a media liability insurance policy prior to self-publishing your work.
There are many pros and cons to self-publishing versus publishing via the traditional route, and each author can choose what makes sense for his or her book. However, if an author chooses to go the self-publishing route, there are some “red flags” that authors should keep in mind when selecting a self-publisher. The contract terms for these entities vary significantly and often are said to be “non-negotiable.” Nevertheless, we advise Guild members to try to negotiate the points below and if they can’t, at least recognize the implications-legal and otherwise-of signing these one-sided agreements.
CONTRACTUAL ISSUES TO CONSIDER IN FINDING A SELF-PUBLISHER
- Grant of Rights. Always make sure that the grant of rights does not include translation rights or other non-print subsidiary rights including film, television, stage, radio, commercial/merchandising and multi-media.
- Duration.Ideally, a self-publishing agreement should last no more than 3-5 years. After the initial period, either party should be entitled to terminate with no strings attached. However, if your self-publisher will not agree to this, a strongly-worded out of print clause which allows for an immediate reversion if a minimum amount of income is not generated in a given period of time (such as $500 in any 12 month period) will reasonably protect you. In addition, be sure that there is an express stipulation regarding how much time the self-publisher has to dismantle its retailer metadata feeds once the agreement terminates.
- Copyright Registration. Make sure that the self-publisher must register the Work for copyright protection within three months of initial publication.
- Accounting. Confirm there are bi-annual if not quarterly accounting requirements. Many self-publishing entities are even rendering royalty statements and payments on a monthly basis.
- E-book Royalties. Authors should seek an equal 50/50 split of the self-publisher’s net proceeds from the sale of e-books. We have seen some self-publishing entities offer this rate (and some offer even better rates) without having to negotiate with them. However, many self-publishing platforms follow the large publishers in only offering the current “standard” rate of 25% of the publisher’s net receipts.
- Print-on-Demand Royalties. Authors should seek an equal 50/50 split of the self-publisher’s net proceeds received from the sale of print-on-demand editions. However, the more common royalty rate tends to hover around the traditional hardcover royalty rate of 15% of the list price (which approximates 30% of the publisher’s net receipts).
- Publication Deadline.Always make sure there is a reasonable publication deadline. Ideally, the self-publishing entity should be required to make your e-book/POD work available no later than 6 months after the manuscript is delivered. If it cannot meet this six month deadline, it should be afforded no more than 30 additional days before the author is entitled to cancel the contract upon providing written notice of termination.
- Changes to the Work.Always make sure that no material changes can be made to the work without obtaining the permission of the Author.
NON-CONTRACTUAL ISSUES TO CONSIDER IN SELECTING A SELF-PUBLISHER
- Does the platform have a dedicated fan base of readers for the specific kind of work published? If possible, talk to other authors who have published with the self-publishing enterprise you are considering. You can also search online for specific titles that have been previously published to determine what “fan buzz” exists for the works published by the self-publishing entity you are considering.
- Do they produce good-looking books? It may well be worth purchasing a sample book prior to signing any agreement just to make sure that you will be satisfied the publisher you select produces quality books that you can be proud to call your own.
- Do they have truly professional editing? When considering which company to self-publish your book with, it is ideal to find out what editing services are offered, and if possible, talk to other authors who have published with the company being considered to find out what their editing experiences were like. If they were unsatisfied with the editing process, that would certainly be something to consider.
- Nice looking and well trafficked website? A well designed website which draws lots of traffic means that there will be more opportunities to actually sell your Work.
Now that you’ve considered all sides of the self-publishing world, it’s time to do some research. Look at as many companies as you can to learn about what they are offering, what terms they offer, and their reputations before deciding whom to work with. Read every website and blog that you can find, so that you can go into the process prepared and with your eyes wide open. Finally, reach out to professional services as well as consult any relevant publications that deal with the legal realities of publishing by registering your copyright and buying ISBNs.