Traditional Publishing- What you didn't know can hurt you.

What I learned about traditional publishing while doing some research.

 I believe it is important for every writer, who wishes to publish their work, to do research on the different forms of publishing. Do not just limit your research to individual agents or publishing houses. While that is important, it is also important to know the pros and cons of both traditional and self-publishing.

 

We have all heard the cons of self-publishing. What about the cons of traditional publishing? There are some that everyone knows, such as how long it takes to find a publisher who will publish your manuscript. However, there are more, some quite disturbing, cons that writers need to know about.

 

For two years, I have been researching the different forms of publishing. Like many new writers, I struggled with whether I should self-publish my first novel, or find a traditional publisher. I know that self-publishing has a rather bad stigma surrounding it, but it has its pros as well. What about traditional publishing? Aren’t there horror stories with that as well? Read on and find out what my research revealed.

First, there is the time issue. It often takes years to find an agent or publisher who will accept your manuscript. That is not such a big deal if traditional publishing is the route you choose. However, keep in mind that it will take up to two years for your book to be released after the manuscript is accepted.

 

Once a manuscript is accepted, there is the possibility you will receive an advance. However, if you are a new and unknown author there is a chance you will not get an advance. Not all publishers give advances, particularly to new and unknown authors. There are some that do. However, there is another issue to consider.

 

What is an advance? It is money paid to an author, by a publisher, for future book sales. They pay an advance according to how many books they think will sell. For new writers it will likely be less than $10,000. Be forewarned that this is money that you may not get to keep.

 

Many publishers make you pay back all or part of an advance if the book does not sell as well as expected. According to a Nielson Book Survey done several years ago many books do not sell more than a hundred copies. With traditional publishing, you would have to sell thousands of books just to break even on an advance.

 

Royalties are something all writers are familiar with to some extent. Everyone knows that mathematically self-publishing offers higher royalties. However, you actually have to sell some books before you start seeing any kind of profit. The same applies to traditional publishing.

 

As mentioned above, you must sell enough books to cover your advance first. After that, you get paid royalties, usually on a quarterly basis. If you do not have an agent, your royalties would be, on average, around $1.00 per book. See why I said you would have to sell thousands of books to break even on your advance? If you have an agent, your royalties may be as little as .31 per book. Don’t quit your day job just yet.

 

Another little known fact about royalties is that you may not get the amount you think you will be getting each quarter. Traditional publishers allow books to be returned for a 100% refund. Who pays for those returns? That’s right, you do. They take the money out of the account your royalties are kept in. Some publishers even keep money back from quarterly royalty payments to cover returns they think may happen.

 

You are generally given a time limit to sell a certain number of books. If you cannot sell enough copies of your book, the publisher will stop publishing it. Some publishers only give you 120 days to sell a certain number of books (usually the number of books the publisher thought would sell). This is rather disheartening for those who do not have the time and money needed to adequately market a book.

 

This brings me to my next point. You and you alone, are responsible for promoting and marketing your book. This is true with both self and traditional publishing. Therefore, if you intend to get a book published be prepared to do some marketing. In fact, I strongly suggest that you do some pre-marketing and build a fan base before your book is released.

 

What happens if you do not manage to sell enough books to continue publication? You have to buy your rights back to your own book in order to publish it elsewhere. The scary thing about that is some publishers will not sell you back the rights. That leaves the writer in a predicament if they hoped to self-publish the book, or take it to another publisher.

 

One fellow in a writing group told us that the publisher he used went bankrupt while he was trying to buy back the rights to his book. He has been trying for years to get the rights back, but has thus far been unsuccessful.

 

You will have to sign a contract with any publisher that accepts your manuscript. Generally, the contract states that you agree to publish a certain number of books with them. This leads to the issue of deadlines. Some work well with them, others do not. Take the Septimus Heap series for example. Angie Sage, the author of the Septimus Heap series, was given a deadline to complete all seven books in the series.

 

Of course, her books are selling well enough that if she went over her deadline the publishers would be more lenient. If you are not a best selling author you will not be getting any leeway on the deadlines you are given. If you do not make the deadline, you are in breach of contract, which can lead to fines, or to a publisher dropping you as an author they will publish in the future.

Read the fine print carefully before you sign your rights and your life away. Know what you are getting into before you submit a manuscript. Find out what the publisher expects from you, what kind of advances they pay, and whether or not you can buy your rights back to the book. You can do this by contacting the publisher directly or by talking to some of their authors.

 

In closing, I would like to let you know that I am not saying you should avoid traditional publishing. It has its pros as well as its cons and it is up to each writer to determine what they want for their book and future writing career. However, do not go into it blindly. Do your own research to find a publisher or agent that is right for you.

 

Happy writing and good luck to all on your future endeavors.

Reviews

Wow! This is very informative. I know a little bit about publishing, my parents are writers, and it took them years to get to the point where they make money. What you said is very true! You have to watch out for so many cons. I do know that if an agency wants you to pay to have your book edited through someone they know they are not a reputable agency! Good luck to you and thanks for all the good info!

[Tommy]

Thank you for this insightful look into the reality of trying to get published, and giving us a look at the pros and cons of being published by traditional means...

Great Write!
RLG,
Tommy

[Phill Oz O'fee]

Sound and invaluable advice. I worked in the trade for quite some time and know the pitfalls many a budding writer fell into. It doesn't have to be a hit or miss scenario; as you said sound research and discernment of choice pays off.

Well said!

God's Blessing
Phillozofee