Self-publishing or indie publishing is something that poses a dilemma for every new writer these days. Although there are valid reasons to prefer self-publishing to traditional publishing, many aspiring authors are scared to opt for this process.
The main reason behind self-publishing stems from an almost parent-like attachment to your creation.
Traditional publishing will take your manuscript through a seemingly endless journey of proofreading, editing, correction, and omission. And you may not enjoy seeing your first draft bleed like this.
Hence, more writers are encouraged nowadays to self-publish their fiction or nonfiction. In this article, we have listed eight convincing reasons for you to go with self-publishing your book.
8 Reasons Why You Should Self-Publish Your Book
You must explore the modern self-publishing or indie publishing processes before opting for traditional book publishing services. Let’s check below what self-publishing has to offer you:
1. Be the Boss of Your Aspiring Project
You can always have the content and design control of your book by self-publishing. Most traditional publishers will modify, correct, and omit significant parts of your storyline, which may nullify your artistic efforts.
Why hand it over to people who don’t understand your creative ethics? It’s okay to trim down some objectionable portions from your book; However, stripping your fiction of its essence may destroy the whole content.
As a self-publisher, you can keep things in their rightful places, such as characters, dialogue, facts, historical accounts, scientific or technological value, etc. Such control includes the cover design and paper quality too.
2. Publishing Your Book Quickly
It’s a very common scenario for a traditional publisher to take a year or more to publish your first book. Times have changed drastically, and so should your writing exposure.
If you take years to publish your first book with a conventional publisher, the appeal of your content may decline over time. So, it’s a smart move to self-publish your book in hardcover, paperback, or even eBook format in a timely manner.
3. Earn Higher Royalties than Regular Publishing
Publishing your book by yourself won’t keep you within the traditional publisher’s grid, meaning you don’t need to share or sell the copyright to them.
Maintaining the book’s copyright yourself, will enable you to sell and earn more since you’ll keep most of the revenues except tax.
4. Prospect of Foreign Rights and Royalty
Imagine your book has become a bestseller, reaching millions of readers around the globe. At this point, chances are high that foreign publishers will approach you for the right to publish your book in their country. It works like the law of attraction when a fantastic book hits the market.
Depending on the situation, you may be able to publish your book in their country and get the revenue and response equally. The best part is that these foreign earnings aren’t going to be shared with any conventional publisher in your country.
5. Maintain Book Distribution Flexibility
With a traditional publisher, you’re stuck with their regular marketing and distribution channels. Most of them will distribute your books through their own dispatch point and sell to their selected retailers only.
On the flip side, you can make deals with different organizations and channels to promote and sell your books in the market. You can either go with the regular or digital platforms to reach millions of readers of your genre.
6. Get Instant Sales Reports and Analytics
Conventional book publishers still practice generating twice-a-year sales reports. It not only impedes your market analysis but also keeps you unaware of your target readers’ choices and responses.
Market analytics is thriving in all types of businesses, from a sole proprietorship to industrial ranges. Hence, you’d be wise to install or integrate instant market analytics into your self-publishing website.
Doing this will help you get sales reports any time in the week, month, or year along with the real-time market analytics on your published book.
7. Receive Tax Benefits if You Make a Loss
In the USA, you can file a self-employment tax after you’ve made a profit from your self-published books. The self-employed profit tax is 15.3 percent once your profit has crossed $400, whereas it may reach up to 21 percent for corporate taxes.
In this system, even if you face a loss by self-publishing your books, you can adjust the loss with the revenue from other earning sources, such as a job or business.
In short, self-publishing gives you the opportunity to reap the self-employment benefits of federal and government levies.
8. Work at Your Own Pace
Being a self-published author, no one can hold you back or cross your boundaries. It enables you to maintain your regular job or business and writing endeavors simultaneously.
You must be smart, careful, and patient before you can successfully publish your first bestseller. Otherwise, things might get out of your hands before you know it.
Don’t resign from your day job yet. Nurture your written piece, find the best self-publishing channel for you, publish the book, and monitor how it goes.
Self-Publishing vs. Traditional Publishing at a Glance
Both self-publishing and traditional publishing come with their own distinct channels, policies, benefits, and disadvantages.
Let’s find out some of the key differences between self-publishing and traditional publishing below:
|The author owns the copyright to the book and its royalties.||The publisher keeps the copyright and shares the royalties with the author.|
|Self-publishing accelerates the publishing process.||Traditional publishing is sluggish compared to self-publishing.|
|Self-publishing has both local and foreign market exposures.||Traditional publishing doesn’t allow an author to change markets unless he/she buys the copyright.|
|Self-publishing gives a writer more freedom in draft, storyline, design, and promotion.||Traditional publishing practices limit freedom on the writer’s end.|
|Self-publishing allows an author a 15.3 percent tax (including Medicare and Social Security) on their net income.||In traditional publishing, the author is supposed to pay 30 percent tax on their profit.|
Is It Too Expensive to Self-Publish Your Book?
Self-publishing cost depends on various things, including
- Proof copy cost
- First thousand copies cost
- Print on demand cost
- Book cover design
- Book cover production
Costs of different genres vary. For example:
- Young Adult: $3900 to $4500
- Thriller, Crime, and Mystery: $4100 to $4300
- Science Fiction, Utopian, and Fantasy: $4000 to $4400
- Romance: $3600 to $3900
The above cost ranges are subject to further updates, locations, and book distribution channels. You may want to explore more on this matter.
As we’ve reached the end segment, you’ve now read through the biggest self-publishing benefits. If you think these reasons are valid, you may opt for self-publishing your first or next book.
Self-publishing isn’t free, of course, but it gives you the freedom to select your market, target audience, promotional channels, and selling points. Most importantly, you can finish the book on your own deadline.
Moreover, self-publishing your book helps you maintain the pace of your regular job or business. On top of that, it can bring you greater financial freedom and vast recognition.