Wrote a Book? Understand the Difference Between Traditional and Self-Publishing

Many of us dream about writing the perfect novel. But, for many of us, writing just a book is an accomplishment in itself. When the manuscript is complete, the decision has to be made as to what publishers you want to send your manuscript. Don't quit your 9 to 5 job just yet, as you dream about million-dollar royalties and even movie deals. It's usually rare to have your book snatched by a traditional publisher with a million-dollar advance. Stop dreaming... Your first decision, in addition to maybe finding an agent, is to decide if self-publishing or traditional publishing is right for you.

When you submit your manuscript to traditional publishers, many of which do not accept queries from non-agent authors, realize you may have a long-wait time in knowing if your book was well received, and if there is even a possibility for publication. Be ready to receive a mountain of rejection letters from publishers who have mountains of boring manuscripts to review. If you are one of the lucky ones who is able to sell your novel to a publisher, don't gasp at the fact that the publisher will take a large percentage from your earnings.

So, how does the traditional publishing model work? According to Susan Driscoll, CEO of iUniverse, traditional publishing relies on distribution-first. Driscoll explains that books are pre-sold to national buyers four to six months before the publication date, and then they are shipped and stocked in the stores before a specific "on sale" date. Publicity and events are timed to occur in a one- or two-month period directly after the on-sale date. This model is very costly and high-risk, because books that aren't sold during that period are returned for full credit to the publisher, who then often ends up losing money, Driscoll says.

Driscoll describes companies that self-publish, such as iUniverse, follow a model called demand-first. With on-demand printing technology, there is no advance printing, selling, and distribution-it's an entirely different business model that has a much lower risk and is more affordable for authors. Books are available for order when customers request them.

If you are a first-time author and trying to get your foot in the door and book recognized, self-publishing your book may be your best option. With self-publishing you will own 100 percent rights to your book. You will have your finished book hardcover or paperback in your hands within six months. Many reputable self-publishing companies offer complete production services like editorial evaluation, similar to the editorial service you would receive from a traditional publisher, as well as marketing resources and ways to market your book through co-op advertising, public relations, etc.

You cover all the costs, which may be seen as a negative, but you have total control over your book and how to market it. Aggressive advertising, word-of-mouth, and trying to get your book into local bookstores, will put you on the road to success. If you sell enough books, you may even get noticed by a traditional publisher, and you never know, you may land that movie deal.