I’ve been doing a lot of thinking about the differences between traditional publishing and indie publishing this week. Almost every day, some writer writes to me and asks if they should go traditional or indie on some new project.
. . . .
Usually I can’t help them. It truly is a personal choice. For the most part, contract terms and confusing royalty statements make long-term earnings in traditional publishing dicey at best. But indie publishing has its own drawbacks, including a bit of financial outlay up front to make certain the book is the best it can be.
. . . .
But, for a minute, let’s forget the contract terms, the financial realities, the business decisions, and pretend all books are equal.
If we do that, if we get rid of the individual decisions, and look only at the way the two publishing systems work, we can see the differences in very stark terms.
Here’s what you’re choosing between:
Hurry up and wait
Or
Wait and hurry up
Seriously.
The industry has bifurcated. The two parts of book publishing are so drastically different in their approaches that they can barely talk to each other. Mostly, they fail to realize that they don’t even use the same language. As a result, they measure success differently because they measure everything differently.
. . . .
Hurry Up And Wait
…could be another name for indie publishing. You finish a book or a short story or a blog post [cough, cough], and you want it out in the hands of readers right now.
Actually, all writers want their books in the hands of readers right now, but some writers are willing to delay that gratification for other reasons, which we’ll get to.
You have the finished manuscript edited, copy edited, and proofed. You design a cover, follow all the instructions to distribute your book electronically and in print-on-demand formats. Then you sit back and wait for the cash to roll in.
And wait. And wait.
. . . .
But really, what you’re waiting for is time to pass. Five sales per month over 120 months will make you quite a bit of money. Only it won’t seem that way at first.
The indie writer, particularly the indie writer with very few books published, has to be patient. The readership—and the income—will grow exponentially if the writer continues to produce work. One day, the indie writer will wake up and realize she’s making $1,000 per month on a single title, and that amount spread out over a year is more than she would have gotten as an advance for a first novel. (Most first novel advances in all genres are under $10,000.)
The thing is, if she earns $12,000 one year, nothing will stop her from earning the same or possibly more the next year, and the next, and the next.
. . . .
Wait And Hurry Up
…could be another name for traditional publishing. You finish your book. Then you mail it to editors (and if you’re not too bright on the business side of things, to agents). The book editors take months, sometimes years, to respond. If you stick an agent in the middle of that, an agent will take months, sometimes years to respond, and then if you’re lucky, the agent will send the book to editors who will take months, sometimes years to respond.
. . . .
Let’s say you hit some editor on a good day, and she wants to buy your book. It will then take her six months or so to get that book through the purchase process at her publishing house—all before you even know what’s going on.
. . . .
Add three to six months to get a contract, three to six months after signing the contract to get the first part of the advance, a year after the contract to officially turn in the already completed book, six months to a year after turn-in to get the book into the stores, and you see another one-to-three years pass.
. . . .
So why do I say hurry?
Because the traditional publisher looks at the sales numbers from the moment the book is available for preorder to six months after publication. Whatever the book has sold in that six-to-nine month period is pretty much what the book is going to sell.
It took you five years to sell the book into traditional publishing and get that book on the shelves. That book will have less than a year to prove itself or go out of print.
. . . .
Since folks steeped in traditional publishing only look at how well a book does in its first year—really, its first month–on the stands, traditional publishing folk look at almost all indie titles as failures.
Think about it: If you expect a book to sell thousands if not tens of thousands (maybe hundreds of thousands) of copies in its first year, and you hear that someone is happy with 500 sales scattered over 12 months, you’d see that as a failure too.
The folks who believe in indie publishing only hear that a book goes out of print in less than a year, and is probably done earning after that point (except for a few high-priced e-book sales), and they wonder who would ever sign a deal like that.
. . . .
Traditional writers don’t look at the long term because in traditional publishing there is no long term.