What’s better? A traditional publishing book deal or self-publishing your non-fiction book?
Amazon best selling author Julie Broad explains why she's glad a traditional publisher turned her down, and why traditional publishing might not be right for you.
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Video transcript:
- Think you need a traditional book deal for people to take your book seriously?
Stick around, I'll share why I wouldn't take a traditional book deal and why you probably don't want to either.
Being rejected by a traditional publisher was the best thing that ever happened to me.
- Self-publishing was far more beneficial for three reasons.
Number one, I made way more money self-publishing. I'll share some specific numbers in a second.
Number two, I wrote about the exact subject I wanted to write about. The traditional publishers I spoke with actually rejected my book idea,saying there was already too many generic real estate investing books on the market. The idea Wiley Canada gave me to write about was actually kinda lame, and I'm glad I didn't get a deal to write that book.
Number three, I retained all rights and full control over the book.
You'll see why that's important in a second.
Let's talk money first. To self-publish my first book, I invested a total of $12,800 when you include hiring a PR company. That's with me doing all the legwork to research the steps, hire everyone, set up accounts, upload all my files, and project manage the entire process.
It was a giant pain and it took more than a few hundred hours to do.
Forget about just the writing. I also made some huge mistakes, including one that cost me bookstore distribution in the province of Alberta, you can see a video about that one right here,
and another mistake that cost me $1,200 in returned book charges. You can see about that mistake here.
It was worth it, but if a company like Book Launchers had been around in 2013, I would've happily paid them that money and more to do it all for me.
But, money. In the last four years, I've made more than $63,000 from the sale of More Than Cashflow, and that's just from Amazon and bookstores.
I've also made thousands of dollars selling books at the back of the room where I've spoken
or where I've had a booth.
Because I owned my book, I was also able to use it as currency, and I traded copies of my book for more than $30,000 worth of magazine advertising space.
Harder to measure is the massive credibility the book lent my husband and myself, which contributed to us raising a few million dollars for buying real estate.
There were also media interviews I couldn't get before the book, and the ease that we started
to fill every workshop and program after the book came out. And of course, the book also opened the door to conversations with different production companies about TV shows.
Nothing was a fit, but it was fun to have those conversations and explore the possibilities.
It's not a stretch to say the book has easily generated more than $150,000, direct to my pocket. Indirect, it's a lot more challenging to estimate, but it's even more than that.
Now, some of these financial benefits would've come about with a traditional publisher, absolutely, but not all of them.
If I'd been given a traditional publishing deal, I would've had to compromise on the subject matter of the book, which would've made the book much less impactful.
I also would've made less than $10,000 from the same quantity of book sales. I think that's so stunning when you think about that, hey? I also couldn't have easily used my books as currency to trade for advertising because I would've had to pay retail price to the publisher to buy copies
of my book to do the deal.
It cost me $4 and something to buy each book from the print-on-demand publisher.
It would've cost me closer to $15 to buy it from the publisher, and I would've been limited
in what I could use my content for, in terms of repurposing it for other courses, and talks, and other things like that.
Maybe traditional publishing is right for you, but quite likely, it's not.
There are fewer traditional deals being done now, and a deal takes a long time.
You usually need an agent, finding one takes time, then you write a book proposal and shop it around, that takes time, then contract negotiations.
If you start now, two years from now, you might, you might have your book out.
Wanna know more?
Hit me up at BookLaunchers.com
