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The Economics of Publishing Your Book (Part 2 of 2)
Publishing from a business perspective
Once you understand what you expect to get out of your book, you’ll be able to decide on which publishing route you want to take. Doing your research beforehand saves you time and lets you spend your money in a cost-effective way. A flimsy understanding of the business side of publishing may result in wasting your hard-earned dollars because you don’t how book publishing operates and you don’t know what you want. The best publishing gurus will tell you that if you want to invest in book publishing, invest in educating yourself first. Educate yourself about the ins and outs of publishing. Never stop honing your writing skills. Work with a good editor and hire a good book consultant. The money you put into your education as a writer and book entrepreneur will be money well spent.
Along the way, you’ll encounter well-intentioned folks who will dispense their know-how on getting published and making money. Do be careful with which advice you’ll take. Others may not have your best interests at heart. Some may be looking out for opportunities to advance their own agendas. Think of a person who says, “This is the best way to get published and make money.” On most occasions, such advice requires money, so do your research or you may only be buying advertising that will not yield any optimum results for your book. Be wary of “fees” from editors and consultants you don’t know. Always check their backgrounds to avoid getting duped.
Getting an agent?
Why not? An agent reinforces a bigger chance to have your book published in the traditional way. An agent’s recommendation influences an editor’s decision if a project is worth the effort. Think of your literary agent as a buffer between you and the editor. An agent can insulate you from direct arguments with your editor and publisher. A good agent will fight for you. He knows that if your royalties aren’t up and coming, he won’t be earning as well.
Getting an agent is another money question that you need to consider. Are you willing to give a percentage of your earnings in exchange for representation? How well can your agent put your book in front of your target audience?
You may need to take all the time that you need in finding representation. Contrary to the romanticized stories you heard about agents, they’re only humans, and they can screw up too. There are even accounts of unscrupulous agents who are in cahoots with vanity publishers. Before getting one, think if an agent fits into your publishing goals.
Yes, traditional and self-publishing are not free, but this should not become a cause for worry. In terms of self-publishing, print on demand services are competing for author clients and offer affordable services based on tier packages. Again, look for the best deal that will maximize your planned budget. As for the traditional route, have a solid marketing and promotion plan for your book, so you can allot a specific budget for your spending. On top of that, it’s not enough that you educate yourself in the ways of the writing craft. Be an educated entrepreneur in the field of book publishing and marketing. This helps to ensure your investment growth in the long run.
Written by Readers’ Favorite Reviewer Vincent Dublado