Nat Russo is one of the many American writers/bloggers I've met via Twitter. Nat blogs about the ''How To's '' in a very succinct and practical way, which is why he is followed by so many people. What I like about him, apart from the free useful advice, is his willingness to help new writers to master the intricacies of the internet. He is very generous with his support and encouragement. And amazingly, if I ever send him a tweet, busy as he is, he always picks up and responds. OK, Nat the floor is yours... ooh and there are donuts and Americanos on the coffee table for later.
Self-Publishing vs. Traditional Publishing
Those of you who have followed me for some time on my various
media outlets will recall how adamant I've been about traditional publishing.
Until the end of 2013 I was absolutely convinced I would be querying agents and
publishers for an indefinite period of time, collecting rejection slips like
they were going out of style.
Not anymore. My thoughts on the subject have completely changed, and I'd like to tell you why.
Defining Success
I've long held that you
should never allow another person to define success for you. What it means to
be a successful writer, to me, has changed dramatically over the last two
years. I've been writing for decades, but I didn't "come out" with my
writing until 2012, and I did so with a lot of fear and trembling.
Fear I wouldn't be good
enough.
Fear I wouldn't be
accepted because I had no publications under my belt.
Fear my stories would
never be read.
But at the core of all
of this was acceptance. All my life, for one reason or another, I sought
activities that placed me in the spotlight (community theater, singing in a
barbershop quartet, high school choir, playing guitar in a country band). Many
thought this was because I was a showoff or an attention seeker. But they
didn't see what was going on inside.
I was trying to feel
accepted, even if only for the moment in time when the music would stop and the
applause would reverberate.
I won't bore you with
all of the details, but I wasn't the most popular kid growing up. Queue the
violins, I know. But it wasn't the "fade into the background" kind of
unpopular. It was the "school is a combat zone" kind of unpopular.
Until I was thirteen I was terrified of going to school in the morning. That
all changed when I got involved in the martial arts, but the damage had been
done. My self-image had already been determined. My worth . . . my success . .
. was now based on how other people perceived me, and would remain so for quite
some time.
Flash forward twenty
years.
As I put myself
"out there" with my writing, an amazing thing happened: people
accepted me with open arms. Not only did an entire community of writers accept
me without hesitation, but they openly encouraged me. I could feel them
cheering for my success!
Then I realized
something: My need for industry approval (i.e. a publishing deal with a major
publisher) was no different than the need for peer acceptance that had defined
most of my life. So I tried a thought experiment. I asked myself "how
would you define success if industry acceptance was taken out of the
equation?" This was my answer:
I would gauge success
by the degree to which I failed or succeeded on my own terms.
That, in and of itself,
was enough to sway me toward self-publishing. But I didn't stop there. I
started researching more quantifiable reasons.
Book Stores Have Clocks . . . And They Tick.
The large brick and
mortar book sellers can't afford to keep your book on the shelves forever (and
that's if they buy it from the publisher at all, which isn't guaranteed just
because you have a publishing contract). It takes up space that could be
reserved for a best seller.
You have, in most cases,
30 days to prove your book will sell well. At the end of that first month, the
book seller packages up all of the books he/she can't sell and sends them back
to the publisher for a full refund. That's it. You're done.
The problem is
that no one knows how to sell books. You heard me
right. The only thing we know for certain is that word-of-mouth sells books far
better than a display at a book store. But world-of-mouth takes time.
And time is something a major book chain can't afford to give you.
Self-publishing removes
the clock from the equation. It costs you nothing to leave your book on the
virtual book shelf. Over time people will read and review your book. They'll
mention it to friends, who will in turn buy it and recommend it to their
friends. You are now in control of your own destiny, because writing a good
story . . . a story that will generate word-of-mouth . . . is under your control.
Traditional Publishing ≠ Money
We're artists. We
shouldn't be doing this for the money. I've heard the arguments, and I get it.
While I place my art and creativity above any price, I'm not allergic to
money either. After all, enough of the green stuff would mean I could
potentially support myself off my writing. That's a dream of most writers,
isn't it? Who among us wouldn't want to spend the lion's share of their time
writing?
So let's talk money for
a moment. [Note: I'll be taking numbers from David Gaughran's wonderful book
on publishing, titled Let's Get Digital: How to Self-Publish And Why You Should. If you're struggling with this decision, I
strongly recommend you read this.]
If you do manage to land
a publishing contract, and your book is printed in hardback (the highest price
of the lot), you're going to see about 12.5% royalties from each sale. Now,
take into consideration that your agent is going to get 15% of that and
you're now looking at slightly less than 11%. Don't get me wrong, the numbers
are justified. I'm not suggesting anyone is being over or under paid here.
Publishing is a business, and business has costs and overhead that can't be
avoided.
You'll see a little more
from a trade published e-book (approximately 17.5% royalties).
But here's the thing
many writers don't consider when they're looking at these numbers: Only
20% of all books published ever earn out their advance.
Let that sink in for a
moment.
As a new writer your
advance will hover somewhere around $5k, and definitely under $10k. (Sure,
there's a chance your manuscript will be SO amazing that it will spark a
bidding war. There's also a chance my next lottery ticket will allow me to call
in "rich" the next day.) You only have a 1 in 5 chance of publishing
a book that earns enough in sales to justify paying you royalties. That means
the most you'll ever see off your work is probably going to be whatever advance
you got. And don't forget to give your agent his/her 15% of that advance, by
the way.
And before I forget,
whatever the amount of your advance, you're not going to see all of it at once.
That $5k advance may come to you in three payments spread out over 18 months.
Let's contrast this with
self-publishing. A $2.99 sale on Amazon will pay you a 70% royalty amounting to
$2.09. That $25 hard cover from a traditional publisher, on the other hand,
will pay you a net $2.66 royalty (after agent's cut), and that's if you're
lucky enough to have had your book earn out its advance.
The numbers for mass
market paperback and other editions are even more dismal. Check out David
Gaughran's book (linked above) for the details. There's far more
covered in his book than I could ever hope to tackle here.
Will you make more from
a traditional publisher? The hard cover number seems to indicate that. The
answer is "it depends". If you're sitting on an absolute block
buster, then chances are, right now, you'll make more from traditional
publishing. If, on the other hand, you think your book is more likely destined
for mid-list, I believe self-publishing may be more lucrative.
What Will the Publisher Bring to the Table?
If you're a "no
name" writer who hasn't sold a bunch of books, the answer to that question
is "very little".
Get visions of book signing tours in exotic locations out of your head right now. That doesn't happen unless you're willing to take off work and pay for it yourself. (And don't forget you'll have to do all of the event organizing yourself).
Get visions of dozens of copies of your book sitting in a large display in the center aisle at Barnes & Noble out of your head. Those spots are reserved for names people recognize, and names the book seller can usually guarantee will sell very well.
So, if you have to do all the work anyway, and you have to pay for your own events (including travel and lodging) are you still ok with taking a fraction of the royalty you'd see from self-publishing? Only you can answer that, because as I said above, money is not the only consideration.
Don't Hold Your Breath
As always, there are exceptions,
but as a general rule, if you're going down the traditional publishing road,
you'd better settle in for the long haul. When you begin the query process, it
may take you upwards of a year or more to find an agent that's a good fit. When
you find that agent, it could take him/her upwards of a year or more to find a
buyer for your manuscript.
At that point, one of two things will happen:
1. Your agent may decide
he/she can't sell your book due to "market conditions" or some other
business reason. Maybe your manuscript doesn't quite fit into the acceptable
pigeon holes and no one knows how to market it. Maybe the print market is
saturated with your kind of story. Who knows? The end result is the same.
You'll get a phone call saying "thanks for the memories", and you
will have wasted 2-3 years where your story could have been finding its
audience.
2. You sell your manuscript. Yay! At this point it gets slated for publication, which could be as much as 18 months or more from the date of sale. You'll get a third, or so, of whatever advance was agreed upon. Maybe half. Then, eventually, the book finds its way to book stores (if book shop owners agree to purchase it from the publisher's catalog). From here, in 80% of cases, that's it. You're done. Write something else and start submitting again. If you're in the uncommon 20% that earn out their advance, you'll start seeing some royalties.
Coming Full Circle
No matter what the
dollars and cents say, don't let the dollars and cents dictate your course unless
that is how you define success. Start asking yourself
some difficult questions. Get to the bottom of why you're even doing this.
When I think about being
in control of the process, from the writing, to the cover design, to the
publication and marketing process, I'm filled with excitement! Not only
excitement that comes from the adventure of starting a new business, but
excitement for writing even more!
On the other hand, when
I think about getting a publishing deal, it doesn't light me on fire like the
other idea does. It falls flat. If I was approached by a traditional publisher,
they'd have a lot of convincing to do. Could they succeed in swaying me? Of
course. But they know what they're up against, and they have their work cut out
for them.
Above all other
considerations, I implore you to weigh the pros and cons and follow your heart.
You already know what you want to do, deep inside. You just need to convince
yourself.
Twitter: @NatRusso
Blog: http://www.nat-russo.comIf you would like to read an except from Nat's latest book, Necromancer Awakening, you can do so HERE . US readers can do so HERE