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Pay people to do your homework

Learn about publishing paths and pitfalls before stacking the odds and balance sheets against yourself. Traditional publishers—the folks who invented the publishing game—are book investors; they purchase manuscripts and rights, pay advances and royalties, and assume risk in exchange for hoped-for profits.

Who pockets the profits? These questions shed light on potentially expensive differences between publishing strategies. Subsidy publishers assign your book an ISBN number that belongs to them; they become the publisher of record which entitles them to receive an additional royalty whenever a book sells.

Read the small print. In other words, changing horses means you get to start over from scratch with a word processor file. If you want to publish, distribute, and offer books for sale, paying someone to be your publisher is like paying someone to take a vacation for you so you can get more work done.

With subsidy publishing, the author takes the risk and then pays the publisher! This is the exact opposite of how the publishing ecosystem is supposed to work. Vanity presses are the 1 trap for new authors. They buy and sell intellectual property the way market traders buy and sell stocks.

Though many of their books flop, they count on longstanding favorites, already-popular authors, celebrity titles, licensing deals with Hollywood and occasional blockbuster hits to offset their losses.

As investors, their size empowers them to leverage one of the oldest and most fundamental of business principles—diversify your holdings.

Consider the costs of maintaining a full-time staff of quality editing, design, typesetting and printing resources. This is the model for how publishing should work.

The publisher takes the risk.

Pay people to do your homework

The publisher pays the author. The publisher owns the ISBN because they paid for the rights to publish your book. POD is simply a printing technology; instead of having to manufacture hundreds or thousands of books at a time, POD allows you to affordably produce single books to order.

Without POD, your garage would be filled to the rafters with boxed copies of your book; those days are over. They own their own ISBN numbers and have access to all the digital files associated with the production of their work. The writer is tasked with finding qualified editing and design resources, handling administrative chores like ISBN and copyright registration, managing the production of the book, choosing print and distribution partners, and marketing the finished product.

However, this path offers control over both creative aspects of the work and business strategy. The conceptual lines blur when the author also happens to be the publisher, but think of the writer as an individual and think of the publisher as a corporation that individual happens to own stock in.

The publisher assumes a higher risk by banking on a catalog that may only contain a single book, but the profits—actually a greater percentage of profits than with traditional publishing—ultimately go to the writer. Above all, do everything you can to ensure your book is excellent from cover to cover.

If you do self-publish, buy your own ISBN numbers and keep track of the digital assets used to produce your books. Do your homework before releasing your book. Understand the benefits and liabilities of each approach.How to Get Your Kids to Do Their Homework.

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