For self-publishing authors, the financial investment is considerable, and so is the potential benefit. Final costs might total between $8,000 to $10,000, but what you earn could be unlimited. Why such a significant outlay? Why is editing, in particular, such a costly step in the process? And how can you reap bigger rewards by investing in self publishing?
The Vital Role of Editing
Editing is much more than proofreading. You absolutely can ask your aunt who taught English for 30 years to read through your book to fix grammar and punctuation mistakes, but she’s not a professional editor who understands the need for clarity, coherence, consistency, and compelling narrative flow.
Editors ensure that your voice is clear from the first page to the last. Moreover, editing acts as a safety net, catching potentially damaging errors that could compromise the book’s credibility and your brand reputation. The potential losses from an unedited or poorly edited book far outweigh the cost of professional editing.
Breaking Down Self-Publishing Costs
For those considering self-publishing, the financial journey is multifaceted. Here’s a breakdown:
1. Group Coaching Program ($2,000): Writing can be lonely, which is part of why it’s so hard to start AND finish writing a book. Participating in a group coaching program could help you craft your narrative, develop your voice, and provide a community where you feel supported. Your writing coach provides guidance, feedback, and mentorship and keeps you on track.
2. Editing ($5,000 for up to 20,000 words): Editing is the most important step in your publishing journey, and it’s also the most costly. For a manuscript of up to 20,000 words, authors might spend up to $5,000. This cost reflects the time, expertise, and depth of the editing process. Professional editors have a keen eye for detail and a deep understanding of narrative structures, character development, and language nuances.
3. Formatting, Cover Design, and Publishing ($3,000): Once your manuscript is about as perfect as it can be, there are additional steps before your book reaches readers.
- Formatting ensures the book looks professional and is readable across various devices and platforms.
- The cover design is pivotal; it’s often the first impression readers have of a book, so it needs to be compelling and reflective of the content.
- Finally, the actual publishing process might involve costs for ISBN numbers, distribution, and other logistics.
The Benefits of Self-Publishing
While the costs might seem prohibitive, there is a substantial upside to investing in self publishing.
1. A Growing Industry: Self-publishing is a $1.25 billion industry. This isn’t just a testament to the volume of self-published works but also indicates how much readers value diverse voices and narratives, which are too often unrepresented or overlooked in traditional publishing.
2. Empowering Women Writers: While traditionally published authors are represented by just 39% women, a majority — some 67% — of self-published authors are female. This indicates a broader shift towards inclusivity and the democratization of literature, allowing women to bypass traditional gatekeepers and reach audiences directly.
3. More Lucrative Option: Traditional publishers typically offer royalties between 10 to 12%, but self-published authors can earn between 50 to 70%. While self-published authors bear the initial costs, they stand to reap a greater share of the profits in the long run.
I should also mention that marketing is what makes all the difference. Self-published and traditionally published authors both shoulder the responsibility of marketing their work. If you have a comprehensive marketing strategy that you work with due diligence and take intentional action to build a strong community, you could see significant deposits.
4. Complete Creative Control: Beyond finances and demographics, self-publishing empowers authors with complete creative control over their work. From the tone, style, and direction of your narrative to the book’s design and marketing approach, you make all the decisions. This autonomy ensures that the final product remains true to your vision.
5. Direct Engagement with Readers: Traditional publishing often places a buffer between authors and their audience. As a self-published author, you have the opportunity to cultivate direct relationships with your readers. Through social media, your personal blog, and sending regular communications to your email list, you receive immediate feedback, understand your readers’ preferences, and build a loyal fanbase.
Final thoughts
While the journey to self-publishing your book requires significant investment, especially for editing, it is a realistic and robust alternative to traditional publishing because it can lead you to unlimited earning potential. Readers today have more choices than ever before thanks to the flourishing self-publishing industry, and ensuring your book stands out for its quality and professionalism is essential. Investing in editing and the other facets of the self-publishing process underlines your commitment to your field and to your readers.