The state of book publishing.
Dear All,
I was reading an article in The Sunday Times Style magazine recently. In fact, it's been read and re-read and underlined in places.
I've shared the original piece at the bottom of this letter; the article perfectly epitomises some of the dots I've connected about publishing over the last 9+ years since I've been publishing my words.
Broadly speaking, there are two ways you can go about publishing.
I'm going to speak to each of them but, first, a couple of caveats:
-- I'm writing this through the lens of someone who wants to publish for commercial benefit (ie. to make money)
No judgment here if that's not you – I'm a big believer in creativity being a benefit in itself (indeed, it's why I've been journalling for nearly 10 years now)
-- I'm assuming you're not Stephen King / [insert other mainstream author here]
~
Okay, so if you want to publish a book, there are two ways you can go about it.
Option A: Traditional publishing
Like many of the authors I interviewed for my first book, you can go out and seek an agent and aim for one of the big/well-known houses.
Generally speaking, you'll need an agent to access these. You could be taking years to submit (to publishers and/or agents), to no avail. A small % get chosen (Kendra Patterson recently did, this one is worth a listen) for agent representation, and they will negotiate with publishers for you.
You'll typically be given an advance, typically something around £5-10k or equivalent USD/EUR/other currency. A year or two later, your book will be published. You won't make another cent above your advance payment, until/unless the publishers gets their money back; for them, that 5-10k they paid you upfront is an investment. In other words, they're taking a chance on you.
If they do make their initial investment back, you'll get a small percentage of book sales (royalties), typically 7-15%.
In addition, you're largely expected to do your own marketing. Being a business, they'll focus their marketing efforts on the higher profile names who they can less riskily spend marketing on in order to generate a return.
At best, you'll make some money.
At worst, you'll endure years and years of rejection, or you'll be one of the select few to win a publishing deal and secure a small amount of money. In rare instances, you'll be a success story and make a healthy 5 figures or more.
(Not to mention the smaller publishing houses / so-called ‘vanity presses’ who will lure you with a promise, or making you feel special, for you to pay them to put your book out into the world and make a loss)
~
Option B: Independent publishing
You're in control of everything. You also have to market yourself.
And, us creatives aren't always the best at knowing our worth (*past version of me raises his hand*).
AND sales and marketing is a whole skill in and of itself.
I had a successful career in sales before I started my creator career... and I still struggled big-time to make any money initially. Many writers I meet don't come from a sales or marketing world, or have gone through a journey of self-learning (and self-worth) like I have.
The reason why I struggled initially despite my sales experience, is partly because I didn't know what I was doing, as well as there being so much advice and so many opinions out there.
In other words, I had to go out and get my hands dirty, try things, and discover knowledge and tools.
(By the way, I've not mentioned other things like the traditional publishing circles I've had the opportunity to skirt – eg. the events I've attended, the internship I had in a big publishing house I had... letters for another time?)
As I write this to you today, in 2024, I feel empowered because I have the information such that I can make the right choices for myself. It's been a nearly 10-year-long journey but it's been worth it.
I also can't help but wonder that, surely, there's a better way of doing things. In this digital age where we have access to 8 billion+ people on the planet.
Well, armed with the knowledge and the information and the expertise I now have… I'm going to share my vision with you in the coming days and weeks.
And I'm going to test my own hypothesis by inviting you to join my publication journey for my next book(s).
Until then,
Jas
~
PS. Questions/comments/musings from anyone are welcome. And in the meantime, below's a sneak peak to the new website for my ‘forever digital home on the internet’… thanks for being in my world :)
