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Book publishing for new authors: what is the return on your investment?

11/3/2012

23 Comments

 
Recently I became embroiled in arguments on a couple of blogs regarding how much authors should pay to publish their books (I’m always getting in trouble). I mentioned that the cost of professional editing, formatting, and cover design, can be in excess of a thousand dollars, and then I went on to argue that not all self-published authors could justify paying for this, and that it is acceptable to publish without meeting these requirements.

I got several replies to my argument. I was told that if I did not have my book handled by professional editors, formatters, and cover designers, I was asking readers to take a risk on poor writing just because I, the author, decided to penny pinch. I was told that my mindset is what hurts the reputation of Indie authors. I was told that polishing my work can only help retain my audience. I was told that if I am putting out a product that I am asking people to buy, it is my duty to make it perfect.

Let me be clear about something. If you feel your book SHOULD be perfect then yes, by all means go out and spend whatever is needed to make it so. If you feel making your book as good as possible will give you an edge when your lucky break comes along a few years down the line, then likewise go ahead. I respect this; no problem. Everyone has their strategy. Let me tell you about mine.

I reason that when you are considering making an investment you always have to gauge your chances of success. Why would you spend money if you are not likely to make a profit or even recover your investment? Books can be viewed as an investment, and they are a very high risk-investment. The majority of books will not sell well, this is a fact. I wanted to publish my short stories. But as new author I had never written a book, published it, or promoted it. I felt it would be unrealistic of me to assume that my book would be a success even a modest one. Thus it was clear to me that sinking 1,000 plus dollars into a book with five stories that I would sell for $0.99 or $1.99 was a very risky proposition.

I decided that I would publish my first book The Sun Zebra for free. With the help of friends I got the editing, formatting, and the cover design done. I made mistakes along the way and corrected them. My book is not “perfect,” but readers have liked it. I am proud of this. I did it without spending a single dollar on publishing the book, and I even made a modest amount of money. Now that I know more about writing, publishing, and promotion, I reason that the risk associated with publishing my next book is less. Because of this I plan to invest the money that I gained from the Sun Zebra on my next book. I plan to keep on doing this (using the gains of one book to finance the next), and if my earnings keep increasing I will be able to pay more for editing, formatting, and cover design in the future.

As I wrote above, this is just my strategy. I accept that there are many other equally valid ones, and I respect them. However, I cannot agree with the notion that every new author HAS to spend a large sum of money on professional editing, formatting and cover design services for their book, with the alternative presumably being not to publish at all. This in effect sets the bar so high that we are back again to a gatekeeper model, which is what we are trying to avoid by being independent authors to begin with.

What do you think about this, and what is your strategy?

                                 ***
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23 Comments
Larry Crane link
11/3/2012 11:14:17 am

I find the prospect of publishing a book a very large black hole of ignorance- my own ignorance. ISBN? What? Cover art? I can't draw a straight line.Editing? I think of myself as well educated, MBA and all that. But, I'm not really sure about a whole lot of grammatical issues. What about distribution and copyright.
I want to publish my work. I think it's pretty good. But, I don't want to have the final product expose me as a complete fool. I want the final product to be something I'm proud of. I can handle the writing. But, I can't just go out on a wing and prayer of consultations with good friends assuring me that everything is going to be all right.
Given this, how much am I willing to pay to have some assurance, some kind of contract? I don't know. Quote me a number? Then, I'll decide if I'm willing to give it a go.
So, this is how I decided to take a chance with subsidy publishing. I've not been disappointed, except, i suppose, when it comes to marketing. That's an issue. But, it's an issue of perservance and sweat. And I can live with that.

Reply
Rolando link
11/3/2012 12:41:24 pm

Thanks for your comment Larry. Yours is a perfectly valid point of view, and your approach is reasonable and tailored to your requirements. I myself have found that one man's fool is another man's genius. So I don't have any qualms about making mistakes along the way and correcting them on the run (and with e-books this is easy and quick). I have also found that a lot of what I needed to know was on the internet, or my friends told me about it. Finally, I was not shooting for perfection. For me it was paramount not to lose money, and so far I have succeeded. Each one of us is a different world.

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Jeri link
11/4/2012 09:11:25 am

My strategy is to spend wisely. I know my strengths and weaknesses as a writer. I'm also pretty adept at seeing the big-picture. Like you, I plan to make use of the resources available to me. With some effort, I have learned a little about making cover art and a lot about eBook formatting. I'm probably more of the camp that I want my book to be considered a "serious" endeavor, since literary perfection is so illusive. I'm making the most out of my in-person writing group and my online critique partners. Even with a graduate degree in English, I know it would be foolish to not have others critique my work. Which is also why I love critquing and reviewing the work of others. It keeps me on my toes!

Much of the fuss and reaction to the various "finished" states self-published books (and many traditionally published books these days as well) seems to hinge upon writers not realizing the level of editing their work needs to become a readable book. Alas, readablity is in the eye of the beholder!

That being said, I'll take the free feedback I'm already getting, apply it to my WIP, and then pay for a professional critique of my novel (and thank goodness critques cost the least!) From there, I can apply whatever level of editing my final draft needs. There are certainly more ways than one to skin a cat!

Reply
Rolando link
11/4/2012 09:57:33 am

Thanks for your comment Jeri. Like you say readability is in the eye of the beholder. Different people will be satisfied with different levels of polishing and that is kind of my point. But going to other blogs and suggesting that anything less than professional is acceptable seems to be considered a sanction of mediocrity and sloppiness. Of course the corollary is that if you can't achieve the levels of perfection that are brought about by professional editing, formatting, and cover design, you should not publish, and I can't agree to that. I will invest more in these aspects if I earn more from my books, but personally I have to attune my investment to the level of risk involved.

Reply
Mary Yuhas link
11/4/2012 09:26:31 pm

This is a huge question and problem that every self published author faces. In addition to time, you have to invest a certain amount of money to make yourself visible. To me, its a little like gambling. Decide ahead of time how much you are willing to spend, and stick to it. Thanks for the information, Rolando.

Reply
Rolando link
11/6/2012 07:15:22 am

That is a good advice Mary. You have to work out how much you are willing to spend on your book (both for publishing and marketing) beforehand. Planning is key. Thanks for your comment.

Reply
Laura Novak
11/5/2012 01:47:48 am

Like you, I learned through my mistakes. The next book - should I ever finish it! - should be an easier one to publish because I've learned so much. At any rate, I could only spend what I had. It wasn't an option for me to spend any more than that. I've made my costs back and then some. And I made more than I would have with a traditional publishing contract. Of that I am sure. By the time the next mystery is finished, the world of publishing will have changed even more.

Reply
Rolando link
11/6/2012 07:17:52 am

Thanks for your comment Laura. Like in the stock market the most sensible advice is: don't lose money. There are thousands of authors out there that don't even break even.

Reply
Inge Meldgaard link
11/5/2012 11:25:36 am

This is a very worthwhile subject for your blog, Rolando, and one which has been in my thoughts for the past three years now, since I published my first novel with the help of another self-published author of 4 books. I began by knowing *nothing* about publishing, and he taught me a great deal and edited the book. However, along the way, I ended up knowing far more than him and found I had in many respects been led up the garden path, which I am still ‘paying’ for. Before publishing, I also had a contract with a small, niche American company, who edited my book (and I did learn something), but who turned out to be so unprofessional, I cancelled the contract. My sister ended up being more helpful with editing than anyone else, but three years later, I am now up to revision number 6! Aaakkk! I cringe when I think of all the libraries the earlier versions of book number one are in. The story is fine and many readers (tertiary educated included) haven’t noticed anything wrong, but what I've learnt during the revision process, and writing two more books in the series, is that poorly written stories aren't taken in as well as when they are well written. The reader is subconsciously (or in some cases, consciously) distracted by the poor writing, or doesn't get the point/isn't emotionally affected as much/loses the plot/isn't as involved in the characters etc etc It’s a remarkable and subtle phenomenon.

Having initially ploughed around for some time contacting agents and publishers, I have discovered that there are a multitude of them, including editors, who are not by any means up to scratch, and hence not worth dealing with. I decided to continue with self-publishing, in both paper and eBook format, as this way, I keep learning and can revise to my heart’s content, as long as I can live with the embarrassment of having somewhat below standard books out there - until I get them right, of course, which I am finally hopeful of doing. Book number 2 is being revised for the first time and I think I’ll actually get it right with only the one revision. My sister helped with editing, I had someone else read it (who missed numerous typos, but picked up an important plot detail that wasn't quite right) and of course I read it through many times before releasing it. Now, 1 ½ years later, I was shocked at some of the blunders I had made - again, people have read it, loved it, and hadn't noticed the boo-boos, but I know now that properly written, it can have far greater impact. I am fortunate this time in having an internet friend who is a highly experienced ghost writer proof reading it for me, and I am staggered at what a true professional can pick up - and what I am now picking up, having vastly improved both my writing and editing skills. The conclusion I've come to is that unless one is very, very sure of the abilities of a so-called professional editor, one could well be wasting one’s money. On the other hand, if there is no other help available, and if one can find someone who is really good at it, it might be worth paying someone. On that note, though, the ghost writer friend was once in the publishing industry, and from her experience, it takes a minimum of three good people to pick up all the faults in a book (i.e. a fairly big novel) - from my own experience now, I can see that she’s right, so even paying one editor will be unlikely to do the trick.

I am feeling optimistic that I can actually get the third book into good enough shape with only my sister’s help - her skills have improved over the past three years as well. Fortunately, being an artist with six years experience in photography and using digital media, I can design my own covers - it would be an expensive exercise to have someone else do it, and I’d have been unlikely to want to pay someone. Good covers are, however, critical, particularly for sales to libraries and placement in bookshops (and to catch someone’s eye on the internet). I’m also able to deal with eBook formatting, albeit with some tedium and pain, as I’m a former IT person, so with perseverance, I get there.

So, how much was I willing to pay to self-publish? $300-$500 was for me affordable, if I didn't manage to make any sales at all. As it its, I've broken even on both the first two books, so am feeling quite pleased. This money was spent on an ISBN, global distribution via Lulu.com (print and pdf versions), test prints of covers before publishing, test prints of books before releasing (via Lulu, who are excellent to deal with for this purpose), copies of books for bookshops on consignment, postage of books to people I was hoping might review them, and for the second book, the rights to use someone else’s photo for the cover as I just could not get an appropriate one (this was $25 from fotolio.com, who I highly recommend). If I had to spend more than this, I wouldn't do it, but that’s just

Reply
Rolando link
11/6/2012 08:09:31 am

Thanks for sharing your experience Inge. The whole process is a maze with many moving parts, and it is virtually impossible for the new author not to make mistakes (some of them costly). That is why I wrote this post. I find many authors about to self-publish have in their heart of hearts unrealistic expectations. Many don't understand that they will be lucky if they break even. I am glad your books have come out ahead! : ^ )

Reply
Brian W. Porter link
11/9/2012 07:30:00 pm

Rolondo, I have a different idea for marketing. Extra money is something I do not have. I understand the lack of funds many folk have, especially the younger readers who I hope to capture so they will follow me for years. (HA!) Instead of advertising my pay books, I plan to publish one YA book, one longer short story, and one shorter short story, and advertise them. Readers of these free books will like what they read and go for my inexpensive books, I hope. A pipe dream? Maybe. I know nothing about marketing, so I'll try what hasn't worked for others, Maybe it will work for me. Keep posting what works for you, both in promotion and in publishing. Thanks.

Reply
Rolando link
11/10/2012 03:47:53 am

Thanks for your comment Brian, and I hope it works for you. Please if it does, share with us here what you did. I'll keep posting on what I do, the mistakes I make, and the handful of things I get right every now and then! : ^ )

Reply
David P Perlmutter link
12/8/2012 10:32:56 pm

Great Post. My Story.

I published my first and only book so far, that is a true story and based on my trip to Spain. The book is called Wrong Place Wrong Time.

The cost for self publishing my book has cost well under 100 dollars as my friend is an editor and my brother designed the cover. I do the marketing which is like a full time job, I use of course, facebook, twitter, my blog, market other books etc. So currently the book is within the 1,000 bestsellers in UK, top 10 in true crime and to 100 in biography. In US, it is top 15,000 and top 50 in true crime and also top 5 in Spain.

The book is not 100% perfect which I have also learnt a great deal and looking forward to writing my 2nd book.

Also from the 95 reviews on Amazon, some reviewers have also stated that the story would make a great movie. Can you hear that Hollywood!!!!!

Thank you.

David P Perlmutter

Reply
Rolando link
12/8/2012 11:59:30 pm

David, thank you very much for sharing your story and congratulations on the success of your book, Yours is an example of how through the help of family, friends, and other people you meet, you can publish a great book and still keep your costs down. This is important because, the majority of books published will not have the success your book had. Congratulations again and I hope that Hollywood hears it!

Reply
David P Perlmutter link
12/9/2012 12:05:41 am

Hi Rolando,

Kind of you to reply and thank you for your words. Fingers crossed for Hollywood! LOL...

I will certainly keep checking out your site, it is so informative.

Thanks again!

Mari Stroud link
12/10/2012 09:09:51 pm

I don't have a thousand dollars to spend on a book at a time, either, which is why I've found the barter system to be a true lifesaver. I have friends who are photographers, graphic designers, and editors, not to mention many, many readers. I'm not a professional editor by any means, but I do read a great deal and am good at explaining why a book works for me and why it doesn't in terms of plot, pacing, and overall readability. Trading favors back and forth has helped me keep my budget trim and allowed me to make a profit when I never could have done so otherwise.

Reply
Rolando link
12/11/2012 01:31:11 am

That is an excellent point Mardi, and I will probably write a post about that soon. Thanks for your comment!

Reply
Martin Lake link
1/17/2013 02:22:46 am

I think you have a sensible strategy, Rolando. I also agree with your comment about going back to a gatekeeper model. One of the best things about being an indie writer is dispensing with gatekeepers. That said, I believe it it essential to make your book as good as it can be. But we are talking about two issues here. One is making the book good in terms of reader experience, which means well-constructed, well-written and with as few errors and formatting mistakes as is humanly possible. The second issue is more about marketing. People say how important the cover is for your book. I'm sure that is the case when it comes to selling. But a good cover adds little to the reading pleasure. My covers are the weakest parts of my books, I know this. I have two choices: spend more time learning how to design them or spend the profit from my sales to get a professional designer. My main concern, however, is to make each book better than the earlier ones.

Reply
Rolando link
1/17/2013 08:50:10 am

Thanks for your comment Martin. I guess the key word is "as good as it can be." I maintain that each writer's situation is different, and we cannot be measured with the same ruler. If the family finances are not that great, I cannot justify spending 1,000 plus dollars on a book that is likely not so sell well anyway.

I agree with you that covers are important (which is sad), but there are many way to produce an acceptable cover without having to hire a professional designer.

Reply
Al link
1/17/2013 04:58:06 am

I am often reminded by attorney friends that the man who represents himself in court has a fool for a client. Is it not so for the majority of self-publisher authors? The obvious conflict of interest may blind you to your worst faults and result in realizing your worst fears.

But if your time has value, you have already invested quite a lot. Before going public on your own dime, exhaust all other possibilities.

My two cents.

Reply
Rolando link
1/17/2013 08:59:27 am

Thanks for your comment Al, but the parallel you draw can be extended to virtually any activity undertaken by someone, that could be otherwise performed by a hired professional. By that reasoning anyone would be a fool to try to do anything at which they are not experts.

When I self-published I knew I was going to make mistakes (i.e. be a fool). It's part of the experience. You get knocked down, so you get up and keep fighting; that's all there is to it. As to time, I don't mind investing time. It's the money that is a problem for me and for many authors. That was the point of the article.

Reply
hem chandra tiwari link
7/9/2014 06:05:54 am

I write poetries in Hindi as well as in English. I am planning to publish my own book in next few months. Is there any publisher who can publish my book without any investment from me.

Reply
Rolando link
9/5/2014 11:26:38 am

Maybe, but it means you will have to sign away all rights to your book. I suggest you "learn the ropes" and self-publish.

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