90% of all books sell less than 2,500 copies in their entire lifetime. In fact, most books won’t even sell 1,000 copies. This is exactly why self publishing will always be better than traditional publishing companies. By publishing your own book you are giving yourself the maximum opportunity to collect as much money as possible from each book that you publish.
There are many different reasons that authors struggle to sell more than 2,500 copies of their books. Everything from great marketing techniques, book cover design, to book titles, even book topics/genres can be a reason. Without the right information it can be difficult to get ahead of the competition.
In today’s video I’m going to go over the key reasons that you should self publish your own book and avoid traditional publishing companies at all costs.
Watch the video below:
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Video Transcript – Why Self Publishing Always Trumps Publishing Companies:
To self-publish or not to self-publish? That’s one of the biggest questions that most people ask themselves when they’re thinking about writing a book. Today, we’re going to cover reasons that you should and reasons that you shouldn’t self-publish a book. Now, in general, there’s a bunch of reasons that you might want to. Actually, it’s probably more reasons that you might want to than reasons that you would not want to self-publish.
Why Royalties Matter
The first one being money. Just money in general. When you publish a book with one of them five major publishing companies, the problem that you have is that your royalty rate is very, very low. In a sense, you might only get 8% to 10% royalty, probably even less than that. Probably closer to 5% royalty on any sale that you make. Now, first off that’s just terribly low. That’s something that’s kind of a little bit ridiculous. It’s necessary for them to pay all of their bills and all of their marketing and everything else that they do and formatting the books and everything like that.
With self publishing, you can keep 100% of the royalties. That’s a huge, huge difference. Just in sheer numbers, you can sell a thousand books, make $1,000, you make $1 a book. Or if you went the other route and you published with a big publisher and you only got 5%, you sold a thousand books and you might only get $50 out of that which sucks since you put so much time and effort into writing a book or self publishing a book or anything else that you do.
Just a sheer numbers game. It’s not worth it unless you know absolutely that your book’s going to hit it off and they’re going to make tons and tons of money or if you already have an existing large following. Even still, if you already have a large following, you’ll probably want to self publish instead, because you’ll probably have a large following who’ll write reviews for your books and who will buy it. They’ll buy it the day it hit the shelves, the day it hits the stores. That’s the major reason is royalties.
What Large Publishing Companies Actually Do
The one thing that a large publishing company will do for you that self publishing will not is publishing companies will generally format and actually publish your book, proof read, edit, all of that stuff. They’ll set you up with a team of people who can handle all of that for you. You don’t even have to worry about it. Just go, write the book, and send it off to them, and you go.
Now, a big misconception that a lot of people think the large what publishing companies do is actually market your book. This is where I think most people fall short in why they fail even when they have been accepted by, let’s say Penguin Random House.
They’re like, “Oh yeah. I got published by Penguin Random House.” But then they find out that they don’t make any money. That’s because they don’t do anything. They just publish the book. They let the book get published and then they sit back and they try to wait and collect royalties. Sometimes it doesn’t work that easily. The very few people will. They can publish a book and then just hit it off, get lucky. It hits the shelves, people pick it up. It happens to be the right book at the right time. In the marketplace, there’s not that many competition. In general, you need to market your book no matter what.
Really, all you’re paying for is a brand name. You’re paying for the companies brand name and their marketing services, not their marketing services, their formatting, editing, proof reading services. Then they’ll also help you distribute you book a little bit. They’ll probably also handle all the distribution channels.
What You Can Do With Self Publishing
Now with self publishing, you can also do that. You can do all that for fairly easy actually. You can hire an editor and a graphic designer for your cover and all of that for you know 50 bucks if you really want to. Now, you can go off the deep end and go spend $300 to edit a book or $1,000 to edit a book too if you want, but none of that’s really necessary unless your huge, huge name author and you’re already making thousands and thousands of dollars and you can’t afford to make a typo.
Those are the main reasons. You’re still going to have to market the book. A couple places you go to do some of that stuff, the stuff of the publishing companies will do for you such as formatting and editing and proofreading, you can go on websites like upwork.com or websites like fiverr.com, freelancer.com. You can find people all over those. You can even find local people in your area on Craigslist and stuff who were willing to do editing, proofreading.
As far as self publishing goes, once you have edited and proofread … I’m sorry, you can do formatting on those websites as well. Once you have the editing and proofreading done and the formatting done, it’s as simple as uploading your document to a couple websites. Get on Amazon.com and publish on there. You can publish on Barnes & Noble’s or with Kobo. There are a whole load of different places you can do this pretty easily. You have to fill out some forms and stuff, but aside from that that might take a couple hours research and then a couple hours of doing it.
TLDR; Why Self Publishing is Best
In general, you want to self publish. You’re going to make a whole lot more money. You’re going to have a lot more control over your book. That’s the other thing, once you sign off with a publisher that book is permanently with that publisher. They own part of the rights to it. They own their percentage of their royalty. Generally, you can’t get that back. You really got to make that call. Do you think your book is actually going to make 100,000 copies, 100,000 sales that would make it worth it for you or more, even a million? Think about it, if you’re only getting 5% and you sell 100,000 copies, you still might only have maybe $50,000, maybe. That’s really stretching it. That’s if your book’s expensive.
Here’s another statistic for you. Most books only sell 2,500 copies. Most books sell less than 2,500 copies in their entire lifetime, the majority of books. Something like 90% of all books sell less than that. Unless you’re the exception and you’re going to sell a lot more than that, it probably would be smarter for you to self publish.
Thanks for watching guys.
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