And the advantages and disadvantages of each…

At some point in the process, any author who wants readers will ask the same question: “How do I publish this book?”

There are four types of publishing, and each type has advantages and disadvantages. Your goals for your book should determine which type you pick.

1. Traditional Publishing

Most of the books you see in your local or chain bookstore are traditionally published. That’s because traditional publishers have a competitive advantage over other types of publishers for distribution and sales into bookstores. Over the years, traditional publishers have developed distribution channels and relationships with buyers to sell books into bookstores. This isn’t the *only* way to sell books to bookstores, but traditional publishers do it best. The New York Times Bestseller List tracks books sold into certain bookstores (not necessarily books sold to consumers) when it compiles sales lists.

Typically, a traditional publisher will forward an advance to an author upon acceptance of a book proposal or manuscript for publication. Advances aren’t always paid, however, and advances have slowly been getting smaller as the publishing market has become more risky and competitive.

Traditional publishers will usually take on the risk in publishing, including preparing the book for market, distribution, buying inventory, and publicity. They require their authors to help market the book, and may require media appearances, book signings, and a large author platform.

Advantages: Easier to get into bookstores, low-risk and low-cost for the author

Disadvantages: Less control for the author over book content and overall design, much lower per-unit royalty (because the publisher is taking on most of the risk), requires significant author platform and author involvement in marketing

2. Self-Publishing

Self-publishing companies abound, and can help a first-time or relatively obscure author get their books to market. They typically require an author to invest something up front to help get the book to production. This could be a lump sum fee or could be a requirement to purchase book copies (preferred). In the past, these companies were called “vanity publishers,” but the stigma for self-publishers has decreased in recent years.

Advantages: The author has more control over the look and feel of the final book, self-publishers usually have some distribution already in place, self-publishers generally can produce a higher-quality book than an author can do alone

Disadvantages: Several self-publishers have tainted the industry by holding or misrepresenting royalties or over-promising and not delivering. Can be expensive and typically does not include marketing. Some self-publishing companies use the same distribution that authors use, which means they provide no advantage over online publishing.

3. Online Publishing

Sometimes when people talk about self-publishing, they’re actually talking about self-distribution through online publishing. This area has experienced huge growth over the last 8 years. In this scenario, authors control every part of the process by going direct to online distribution. Companies like CreateSpace (excellent for Amazon distribution) and Ingram Spark (excellent for bookstores and libraries) help authors with print-on-demand physical books, while Kindle, Nook, iTunes, and Kobo allow authors to go direct with ebook publishing.

Advantages: Author has complete control over most parts of the process, royalties go directly to the author and are a larger percentage than with traditional publishing, typically costs less

Disadvantages: Bookstores are still hard to reach, stigma for self-publishing, can be difficult to market, can be difficult to create products that look professional

4. Co-publishing

This is a relatively new concept that could have some benefits for both traditional publishers and authors because it draws on both of their strengths. In co-publishing, a traditional publisher takes on distribution rights to wholesale, selling to wholesale customers such as bookstores or libraries. The author retains distribution rights to online sales such as Amazon, Kindle, Nook, Kobo, and iTunes. This allows the traditional publisher to leverage their existing relationships with buyers AND to handle bulk printing, warehousing, and order fulfillment. This takes a huge burden off the author. At the same time, the author retains online sales, and maintains higher royalty rates.

Advantages: The reach of a traditional publisher, the royalty rates of online distribution

Disadvantages: Lower royalty rates from publisher sales (in line with what a traditional publisher would normally use)

Conclusion

I’ve worked in every one of these areas at some point in my career. There are definite advantages and disadvantages for each type. Personally, I prefer working directly with authors and recommend online publishing for most, but I do see co-publishing as a great way to leverage the strengths of both traditional publishers and authors. Now if I only had a warehouse…