Episode 4 - Your Publishing Options

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[00:00:00] Never lose sight of why you're writing this book. Is it a person personal passion project? Is it a business strategy? Or is it just a way to share your unique perspective? Your why is your anchor.

Welcome to Publish to Impact, the podcast that turns your expertise into a powerful book that makes a difference. I'm your host, Blake DeVos, a bestselling author, book coach, and creator of the Idea to Asset program. Join me as we explore the journey of writing, publishing, and launching your book idea into an asset that amplifies your business and empowers personal growth.

Whether you're looking to start a business, generate leads, or share your message with the world, this podcast is for you. Becoming an author has never been easier and I'm here to help get you there. Let's get into it. I want to open up this episode with a question. Have you ever thought about how to get your book into your reader's hands?

I'm [00:01:00] talking about from the idea that you have in your head. To your written manuscript and then a finished published copy in paperback format into your own hands or your reader's hands. In this episode, I really want to cover. The publishing industry. And I want to give you options that are available to you that you may not know exist.

And when I first started figuring it out and trying to figure out how to become an author and how to write and publish a book, there were options that I thought were best for me. But after doing some research, I found self publishing. The best option in terms of making an impact with my book, having full control, but also in terms of my business goals.

So what we're going to cover are three publishing pathways. We're going to talk about the traditional method, we're going to talk about the hybrid publishing method, and self publishing. And what I'm going to give you is your [00:02:00] considerations in how to decide what option suits you, but also I want to let you know why I self publish, but also why I believe 99 percent of the people in this world should self publish as well.

So let's start with traditional publishing. And this is a pathway where, it's common for people to get a publishing book deal. Now, what would happen for a traditionally published author is they would pitch their idea to a literary agent. And how they do that is they would draft up A query letter and attach that with a book proposal and that book proposal involves not necessarily your manuscript agents do require different stipulation.

They have different stipulations, but potentially it could be a first chapter. It could be a conclusion, but it's the premise of your idea, but also. Putting yourself in a position to get a publishing deal with a, with a publishing house [00:03:00] and that would be mean, okay, well, what's your reach in terms of audience and how many books do you believe you could sell?

So you would put all that together in a package, send that to a literary agent, and if that literary agent likes your idea. They will then work in their connections with the publishing house to negotiate a book deal for you. If you do decide to accept the book deal from the publishing house, you will then receive an advance.

And the advance you receive, the value of that advance is really dependent on The faith that the publishing house has in how many books you can sell. So you could imagine someone who's ultra famous, they would have a higher advance because the publishing house believes that they can sell books all around the world.

But if you're not that well known and they do like your book, they do like your book idea and believe it can sell. You might receive a less of an advance, but it is a chance to establish a relationship with a publishing house. Okay, [00:04:00] so when you sell your books through a publishing house, yeah, that.

Publishing House essentially owns your book, so you will receive a percentage of royalties, and it's usually about 10 to 15%. It, it's very dependent on the different Publishing House and the agreement they have with your book deal. But, typically, you're going to receive a lower amount of royalties than any other format or any other publishing pathway.

Because when you think about it, you've received in advance and that publishing house is putting a lot of money and faith into you selling your, you selling enough books to recoup that money that they've invested in you. So you might have a case of, well, okay, you've received an advance of 10, 10 to 15, 000 and once that.

Once that's been recouped, you may receive a higher royalty rate than 10 to 15%, but it is really dependent on the publishing house as well. So another thing to be wary of when it comes [00:05:00] to traditional publishing that a very limited number of manuscripts are accepted. This is because so many people are looking for a book deal and looking to.

get and secure a their book in a, in a Dimmix or, or a Barnes and Noble. But when it comes down to who the publishing house is going to choose, they're going to choose someone who one is famous, two, they have faith in and know that they can sell books and three. they are perceived in the world in terms of what story do they have to tell and the relationships they can build with an audience.

But even though traditionally publishing has the appeal of prestige and brand credibility, there are some downsides. And I want to really talk about the timeline to market because when you think about it, You're pitching to a literary agent, that literary agent is going to have to read your book proposal.

And that's [00:06:00] just not an overnight job. That takes a lot of research on their behalf. They have to cross all their, cross all their T's, dot their I's and really establish, are you the right person I can go to for a book deal and negotiate for you on your behalf. So That can take anywhere from three to five months.

Also, literary agents may only accept submissions at a certain time of year. That is just because of the competitive nature of the industry that traditional publishing brings. And once that book deal is accepted through the publishing house, you will then need to write your manuscripts. You then go back and forth with the publishing house on the changes.

And one of the cons again of. Traditional publishing is you are in less control than any other pathway. So it's really up to the publishing house who has the final say on your book. The second model I want to talk about is hybrid publishing. And I'm not sure if you've heard the term hybrid publishing before, [00:07:00] but this is a combination of self publishing and traditional publishing in this approach.

You or the author have the option to take on certain publishing responsibilities themselves, but while working with a hybrid publisher or publishing company. And what would happen is if you want to work with a publishing company, you will financially contribute to the editing, the formatting, the marketing, and the design costs.

So you'll pay the publisher and the publisher will give you the resources in getting your book published. This is different to book coaching, how I see it, because as a book coach, you're going through the experiences of experience with the coach on writing and getting your book published. So you're being coached on the process of writing to make maximum impact in your words and then working with them to get that book published.

And this is different because a hybrid publisher would necessarily just expect your [00:08:00] manuscript. And they, once they received your manuscript, then you start working on it. So in hybrid publishing, you're not coached on the writing part. You're just given resources, which you pay for. So then editor does their job.

A cover designer does their job and the formatter does their job. When it comes to how much control you have of the process, when it comes to hybrid publishing. Is you have more of control than you would as a traditional as a traditionally published author because. You're a financially contributing to your book getting published, whether traditionally they're providing you the advance, so they essentially own your book but you're helping them with the marketing and with hybrid publishing is the publishing company does own it, but you're providing the investment.

So that's just something to be wary of. There's more control in hybrid publishing than traditional publishing, [00:09:00] but that control is typically shared with the hybrid publisher. And so when it comes to the competitive nature of hybrid publishing, it's probably mid level, just less competitive, obviously, than a traditional publishing, but with hybrid publishing, publishing companies want.

T want your money, essentially. So they very rarely would turn you away. And what would happen is that publishing company will create a contract with you and you'll have to abide by those con by that contract. And that falls in line with the, the amount of percent, the percentage of royalties that you do receive too.

So the royalties vary depending on the agreement with the publishing company. And when it comes to marketing efforts and who markets the, the book it's a shared responsibility. So the publishing company would use their connections to try and market your book. [00:10:00] And then also you would do the same. When it comes to the pros of hybrid publishing.

It's great because there's a balance of control. So you, you're not tied down to what the expectations are of the publishing company because you're providing the investment of the financial investment upfront. There's also, you're getting the editorial support. And what that means is you're getting some quality editors you're getting some quality book cover designers that contribute to making your book as professional as possible.

And also some hybrid publishers are specialized to your niche, so you could seek out a hybrid publisher and say you're writing a book about wellness or health and you'll find this, but you might find a. Book publisher that specializes in that area. What that would typically mean for you is they have probably better connections in that niche.

So when it becomes, when it comes to marketing efforts and your marketing efforts, they can align and you're [00:11:00] able to create a strategy that's really based on your book writing goals. And it can really be magnified in terms of the results that you get. But I believe when it comes to hybrid publishing, the cons outweigh the pros.

And this is because first it starts with the initial investment and the financial investment can be astronomical. Publishing companies can sting you for a lot more than what it's worth in terms of a quality product or quality book. It could range anywhere from 10, 000 to 50, 000 investment and you can also be locked into a contract that's hard to get out of that's in the terms of getting a poor royalty rate or just continually adding up and blowing out in terms of your marketing costs and, and whatnot.

So there is a potential for lower royalties than you would as a self publisher. [00:12:00] And it's generally a high level of risk financially and professionally too. I'd really suggest for someone looking to get a hybrid publisher is to do due diligence. And that is to find out More about the publishing company because there are some horror stories out there and the last thing you want to be doing is getting locked into a contract.

That's extremely hard to get out of you and you're getting poor value. You're getting a poor quality product because especially when you're investing and you're trying to put this fantastic idea out into this world. The last thing you want to do is Is share that responsibility with somebody who's untrustworthy.

So there are some great hybrid publishers out there, but you just need to shop around and find out which best suits you and your book writing goals. Now the final publishing pathway is my favorite and that's self publishing. The reason why I love self publishing is because [00:13:00] you have 100 percent ownership and control in everything that you do, and you also receive higher royalties.

It's also great because you can sell your book into any global market while still retaining the rights as well. So With self publishing is you independently publish and distribute your book without relying on traditional publishing houses or a publishing company, which means you take on the responsibility of the editing, formatting, marketing, and the design of the, of the book.

And what's great nowadays is. With industries like book coaching and a lot more creative designers, whether that's book cover designers, formatters, editors, the responsibility can be outsourced. And one thing I have noticed recently in the Editing industry is that a lot of editors have previously worked for big publishing houses, [00:14:00] and they've now gone on to freelancing and they've split from those publishing houses because one, they can earn more money being a freelance editor, but the rise of self publishing means that they can work direct with self publishing authors.

So. That's one of the greatest things about self publishing too is it allows you more freedom and control of your book, but you're also retaining a high percentage as well. And you can work with somebody who, you know, that is going to give you a high quality. edit or a high quality book cover designer.

And that's really, really comforting to know. The one thing I want to bring up as well is with self publishing, you are on your own timeline. So it is quicker to market. If you go through the right process and do self publishing the right way, you can have your book written and published within six months.

And My very first book, the six pillars of rewarding life, I had no idea what I was doing. It took me three years [00:15:00] to write and get this book published. But once I learned how to do it after that, and I came in with my second book called evolve your skills. And that book. I wrote within six months and it's probably a 50, 000 word book.

So that's just your average nonfiction book size. And that took me six months to write and publish from beginning to end. And that came in as a bestseller. So. It is possible. And the one thing I will always tell people is you can write and publish your book without sacrificing your lifestyle and needle moving activities, whether that's in your business, whether that's with family or friends, you can write a book for an hour working on an hour a day consistently.

And have a high quality best selling book published. So, those are the pros with self publishing and, as you can see, it is definitely doable to have your book written and published. And [00:16:00] there are some cons when it comes to self publishing because I do want to, you know, for the sake of balance, I do want to let you know on the cons.

And the first one is that costs can blow out if you're unsure of what you're doing. And case in point, when I wrote The Six Pillars of Rule Writing Life, I spent a fortune on, you know, different types of edits, had no idea how to, how to control those costs in a way where spending, spending money on unnecessary unnecessary resources.

And when I published Evolve Your Skills, I essentially halved those costs down. So once, if you, your costs can blow out, but you You need to have a process behind you and you need to know, okay, what is it that I really need. Okay. And the other con is it's difficult to get into big bookstores like Dimix, Barnes Noble and airports as well.

And when you think about it, it's [00:17:00] one of those questions I'll always ask people is, is if that is a goal of yours. If it is, traditional publishing is always gonna be your, your route. And with self-publishing, it is very difficult just because of the connections that traditional publishing houses have with, bookstores. Okay. So those are the three publishing pathways. Now I just want to step into how you can decide and how, what your book goals are in terms of which pathway suits you. So I want to start off is you need to think about your budget. Traditional publishing might involve fewer upfront costs, but self publishing allows for more control over your expenses.

So consider what you're willing to invest in editing, cover designing, and marketing if you weren't going at the traditional way. And it does pay to shop around too, so look at the costs in your budget too. The next one is the royalties. Is it Selling as many books as you can. Is that your [00:18:00] goal or is the goal to use your book as a vehicle to earn more in your business, generate revenue or just to make a general impact?

So, you know, in self publishing, high royalties are a definite perk. You get a more substantial share of the earnings. And it can be a game changer really for your overall income, but it's more than it isn't more than a book for you. The third is the timeline. So. How quickly do you want your book on the market?

Traditional publishing can be a lengthy process, obviously, which involves your submissions, your the reviews, and a production timeline that stretches out way over 18 months, two years, could be three years, depending on the publishing house. But, and with hybrid publishing is that timeline is also fairly controlled, so it does take less time to get your book to market than a traditional publisher would but typically longer than self publishing.

So with self publishing, you become the driver in how you, how [00:19:00] quick you want to write, publish and launch your book. You know, if you're eager to get your words out there fast, it can take three to four months. But I always believe six months from the idea to the book in your hand is a timeframe. And all the sweet spot without sacrificing other important areas in your life or your business.

But again, it comes down to whether or not writing a book is a priority for you. And I think the biggest consideration to make is your why. Never lose sight of why you're writing this book. Is it a person, personal passion project? Is it a business strategy? Or is it just a way to share your unique perspective?

Your why is your anchor and you should always consider it as a vehicle to make your decision of how you make your decisions and how it keeps you focused on the bigger picture. So always before anything, understand why you're writing this book. Now, I know you're hearing me bang on about self publishing, [00:20:00] but I just want to finish this episode of the key reasons of why I self publish.

And firstly, obviously you've heard about me. Having a hundred percent control over the pricing. And this not only goes with the pricing, but the final say in the cover designing, the marketing, the editing. And if I need to update my book, I can at any point in time. And those changes are within 24 to 48 hours on Amazon live.

The second one is the time to market. So I can write, publish and launch a book within six months without sacrificing. A huge amount of time. Thirdly, the marketing. I'm in control of my marketing strategy where I can use a book as a way to bring potential clients into my world. If you have a business, it can be a goldmine.

Another one as well is authenticity. There's full authenticity in my work and that's something I wouldn't trade for the world. And finally, writing a book builds resilience. The book writing process, it has a lot of ups and downs, But [00:21:00] when you stick to your why and your sense of purpose you maintain that confidence not just in your book But in the work you do outside of your book You can really start to believe as you work through the writing process You can start to believe that this book can make a difference in other people's lives And that's something that I really want for you and self publishing provides that So as we finish this episode, I want you to ask, which publishing pathway will I choose?

Now, make this the decision today to start writing your book. If you have an idea, I want you to reach out to me. Let me know your idea and we can have a chat. Or if you've just got any questions about what it's like, what it takes to publish your book, let me know and we can chat. Or if you've got any questions about the book writing process, reach out to me, let's talk and let's try and get your idea out into this world.

So with that said, thanks very much for joining me until next week. Keep writing and keep [00:22:00] making an impact. Thank you so much for listening to the Publish to Impact podcast. I hope this episode has given you the inspiration you need to start writing your book. If you enjoyed this episode, it would mean the world if you could share, subscribe, and leave a review.

As a thank you for listening, I'd love to offer you a free copy of Publish to Impact, which is available in the show notes. Otherwise, if you live in Western Australia, reach out to me on Instagram, and I'll Send you a free copy direct to your doorstep. Thanks again for listening, and until next time, write that book.