Lesson Three:

Making the Right Choice on How to Publish Your Book

Obstacle: “I’m overwhelmed with all the different paths to publishing my book and I’m not sure which one to choose.”

In this lesson, you will discover the three main paths to publishing your book and get clarity about which one makes the most sense for you and your business.

Lesson Three:

In this third and final lesson in this series, we’ll explore the three main options you have when it comes time to publish your book. Of course, you have to write your book first, but this step can often confuse and overwhelm aspiring authors before they even begin to write, so let’s clear up the confusion and dive into some important details to consider about publishing your book.

Getting your book into the hands of your readers involves a number of detailed steps that are accomplished in coordination with a variety of professionals. With the right planning and resources, and a clear understanding of what your vision is for the impact you want your book to make, you’ll be ready to call yourself a published author very soon.

If you haven’t answered the questions from back in Lesson One or explored the journaling prompts in Lesson Two, I encourage you to do that work before you dive in here. Knowing those answers first will help you to make a much more informed choice about which path to publishing makes the most sense for you. 

There are three basic tracks you can choose from to get your book published:

1. The first option is ‘Do it yourself’ or DIY Publishing – In this case, the author completes all of the publishing tasks by searching for, interviewing, vetting, and managing independent contractors who will handle the various steps of the process. The timeline will vary and is dependent upon many factors including the author’s time availability to manage the process. The costs associated with this track will depend upon the fees of the contractors chosen by the author.

Many authors only consider these out-of-pocket expenses and don’t estimate the amount of time to budget for this process. Your time is valuable, so don’t forget to include your hourly rate to the cost of the DIY option. Doing all the legwork and vendor management can become a full-time job until your book is published or can delay your publishing date if you’re unable to commit sufficient time to the process. Ask yourself, “How much is my time worth per hour?” and then consider how much time you can budget for the process and whether this option makes the best sense for you.

2. The second option is Hybrid Publishing – This is a fee-for-service option and what we do here at Modern Wisdom Press. We manage the publishing process from start to finish with a dedicated team that will guarantee your book is a high-quality, professional product delivered to the marketplace. There are many benefits to this option, including freeing up a significant amount of your time to run your business, promote your book and new offerings as well as have time for family and friends.

Not all hybrid publishers are created equally, however, so do your research to understand what’s included as well as your rights to content ownership and the percentage of royalties from your book sales. Full ownership of your content allows you to be able to repurpose your content however best serves your business, such as online programs, courses, events, and signature talks. 

Publishing timeframes can vary as well. We believe that the sooner your book gets into the world, the better for your readers and for your business, so our books will be available on the market within just a few months of the first draft completion. We do this with an expert team of editors and designers who are committed to the professional quality of your content and end product. 

Some fee-for-service publishers are happy to take your money without much attention to the book’s content or quality, so it’s smart to review testimonials or speak to one of their published authors about their experience. You want to choose a hybrid publisher who is invested in your success as an author. It’s important to know if they provide marketing and distribution support for a successful book launch that will help to rank your book on bestseller lists, get your book listed via multiple distribution channels and offer resources for support to ensure the success of your book after it’s available on the market.

3. The third option is Traditional Publishing – In this scenario, the author seeks a large publisher who is interested in the book and who will control the process. The benefit to this track is access to their distribution system and marketing support. Most first-time authors who choose this route do so successfully with a book agent, who will charge a fee. The challenge is that most of these publishers require first-time authors to have a large and established following or brand recognition and a marketing plan for their book. Without this, they are not poised to offer an advance on your potential book sales.

Traditional publishing contracts often take up to 90% of royalties from book sales and assume ownership and control of your book’s content even though they are relying more and more on the author to do the marketing to their platforms on their behalf. This route can also take up to two years for your book to become available on the market and reach its audience. It’s important to note that despite these challenges, some traditional publishers do sign on authors who have previously published with a hybrid publisher or through self-publishing.

As you consider these three main paths to publishing your book, take into account your answers to the questions from back in Lesson One. Knowing the vision you have for your book and the goals you have for yourself as an author and for your business are key to determining the publishing path that makes the most sense for you.