The success attracts a top-notch literary agent.

Now the big question is: Should you go with the agent, who may be promising you a huge contract with a Big Six publisher?

Surprisingly, the answer is NOT a no-brainer.

It may not be in your best interest as an author to let the agent take your book and shop it around.

Why not?

Here are the considerations from  someone who’s been in publishing for a long time and has seen all sorts of things happen (few people will tell you what you’re about to learn). Read more

Having been through this route “up close and personal” recently with several clients’ books, I have a real good idea of what’s involved with self-publishing–the positives and negatives.

So I wrote a new article for you, and it’s here on the Publishing Coach Weekly site. (Like my new look?)

As usual, there are suggested action steps and resources to check out.

My favorite cover for Abundant Gifts

Trying to design your own book covers is one of the biggest mistakes I see new authors making, especially if they self publish.

One of the advantages of self-publishing is that you are in control of the whole process. When you work with a company like Intermedia, for instance, you own the rights, and you get to pick the cover, the interior design, everything.

However, there’s a downside to this. Just because you have the final say, that should not mean that you are the best one to judge the cover design, or even the title, for that matter. Having the final say should not mean having the only say–especially when it comes to areas you’re not trained in, such as the interior and exterior design.

Unless you’re an experienced designer yourself, leave this to the professionals. I have seen over and over authors who have a concept that’s so complicated, so esoteric, or so cluttered that I know their design will kill the book sales. I can almost always spot a self-published book right away, just by the look of the cover (the interior as well).

Good designers are trained not only to key into your concept, but to make sure it both fits current trends and also stands out in some way as to be interesting. Not an easy task, and definitely one for the professionals.

I came across a great article on working with a designer I suggest you read, along with Michele’s other posts.  Even if you work with a company that provides a designer, you want to work with that person and allow him or her to take the time to develop a great concept and design. Work with a great designer, and your book won’t scream, “Self-published amateur author!” like I’ve seen so many do. Instead, it will draw the eye and make the potential reader want to pick it up and explore more.

Part of the pleasure of a book is the visual nature of it–the cover.  Someone once told me about my Abundant Gifts book cover (first edition), “My wife keeps it out on the coffee table just because it’s so pretty.” That of course warmed my heart, and is about the best thing a cover can do for an author.

I hinted that this might happen months ago on this blog, because I had heard of another publisher considering this very option. More than a year ago I predicted that publishers would eventually move toward more of a self-publishing model.

It’s really inevitable. The other day someone revealed to me something a traditional publisher told a prospective author:  the author needed to  guarantee they could  sell 10,000 books from speaking in order to be published by them.  That author would have to buy 10,000 of his  own book (usually at a 50-60% discount only), in order to get published!

(I couldn’t help but wonder how the author advance, if any, would stack up against the investment the author would have to make.)

Increasingly, author platform (i.e. a large, loyal following) is a necessary prerequisite for being published by a traditional publisher.

So what’s an author to do who doesn’t yet have that following?

Self-publish seems to be the answer.

I can’t help but wonder if traditional publishers will (perhaps already are) look at the self-publishing route as the “proving ground” for authors before they will consider publishing them in the traditional way.

Here’s the danger, for them.

If an author does well as a “self-published” author, why would they ever need or want a traditional publisher? I just ran figures with one of my clients, who chose to publish with Intermedia. The profit per book (if it’s a $24.95 hardcover) would be $7.62, using the least profitable way of selling it (i.e. amazon).

Compare that to the royalty of 80 cents per book that would be typical. The most the author would get under a typical royalty agreement would be $2.12  (assuming they get 10% royalty on the retail, which is rare. More typical royalties are 7.5% of net, meaning after the retailer discount, and then you subtract from that, the typical 15% agent fee).

So which would you rather do: Get paid an author advance, which you might have to turn around and reinvest in books to sell yourself, and get your $.80-2.12 per book … or pay for all the costs of your book and make a profit of $7.34–13.62 (depending on how you sell it)?

The major factors will be, of course, initial capital, and marketing. You need that capital outlay to finance the initial print run, and you need to be able to sell the books to make your profit.

Which is what makes it truly  “self-publishing.” You now know the factors publishers must look at when they look to publish a book. The answers to the key questions you have to provide a publisher are the same ones you need for yourself as well.

Those questions are covered in my “Write Your Book Right: 12 Questions Successful Authors Always Answer” coaching session, by the way. For more on that, check this out. You can also get my personal coaching along with it if you choose.

As I mentioned in one of my Publishing Coach Weekly teleseminars, there are three paths of publishing one can take.

1. You publish just because your life dream is to have a published book. The book is really all you care about.

You can go either the self-publishing route (faster, possible to get published if you have the money), or you can take the longer, more uncertain route of trying to get a publisher to publish you. If you do go the traditional publishing route, you will need

Read the rest of this new Publishing Coach Weekly article

Each Publishing Coach Weekly teleseminar is held at 1 p.m. Eastern, 10 a.m. Pacific, for 30-45 minutes. Here you can ask your question, before or during the call. You can also get your Action/Resource Guide the day of the call. (Replays available within 48 hours at www.publishingcoachweekly.com/teleseminarreplays.html.)

The questions I plan to answer include:

• “Are there any ways to test the idea(s) one would have for a book? No sense working hard on a manuscript if it wouldn’t have market appeal.”-Barb
• “What are some good strategies for determining market interest as well as gaps in the existing book market?”–Lynne
• “If you were to write a book, how would you rank the most important things to spend time and money on? (Topic would sell or not, market, title, cover, content, etc.–not marketing, website, etc.–just the book…)”–Johnny

Plus I’ll tell you what I think is the most important quality you need to become a successful author.

It’s all here.

This week’s Publishing Coach Weekly article will help you decide. Read it here.

“How do you find a publishing company you can trust?”

“How do I choose the right publishing company to professionally edit, print and market my novel? There are many scams out there and I don’t know who to choose. Who is legit?”

These are a few of the questions submitted for the recent Virtual Book Tour I did with Mark Levine on self-publishing and how to choose a good self-publishing company. (Ask your question or listen to the replay.)

Happily, I have an answer!

First, any of the companies on Mark’s “Outstanding” or “Pretty Good” list in The Fine Print of Self-Publishing: The Contracts & Services of 45 Self-Publishing Companies–Analyzed, Ranked and Exposed are solid choices.

However, there is one company that is not reviewed in this book, but merits your serious consideration if you’re thinking of self-publishing.

After Mark did his research and published The Fine Print of Self-Publishing, his company, Click Industries, decided to invest in a company that agreed to do self-publishing the way Mark believed they should be done. Mill City Press is not reviewed in The Fine Print of Self-Publishing (which marks the book a genuine reference book rather than blatant self-promotion), but I want you to know about them.

Their package is very affordable. (Note especially that they give you at-cost printing–one of the areas other self-publishers often mark up).

They offer extras at very reasonable rates, such as marketing and editing.

They even offer a free book marketing strategy session.

Overall, this is one of the best self-publishing companies I’ve come across. Since it’s not explicitly covered in The Fine Print of Self-Publishing, I definitely want you to know about it. Check it out.

We had a lot of great questions and Mark shared a lot of important information.

Here are just a few of the questions he answered:

• “What exactly do we mean by self-publishing and self-publishing companies?”
• “How is a self-publishing company such as you analyze in your book different from a ‘vanity publisher’-or

is there not always a difference?” (Mark’s answer to this was very eye-opening to me.)

• “How does self-publishing compare with traditional way in terms of rights, services, quality of the finished book, and distribution?
• “What are the biggest mistakes authors make specifically when they choose a self-publishing company?”
• “How do I get the most exposure for my book while keeping all rights and making a decent profit?”

Listen to the replay here.

If you have a question of your own, you may still ask it.

On the audio, Mark reveals how you can not only get your question answered, but also how to get a 60-minute consultation with him. (Anyone else, who doesn’t listen to this audio, only gets a 30-minute consultation. Still generous, but you’re special!)

So … give a listen to the audio, and be ready to take notes! Mark covered a lot of ground.

You’ll also want to check out the resources at Mark’s site.

When you get in touch with Mark, make sure that you mention you came from the VBT. Again, that gives you a bit of extra special treatment.

You can ask your question and sign up here.

One of the most-asked questions was, “What are the biggest mistakes authors make when self-publishing?”

I answered that in my recent article. (There are five to avoid.)

Some of the other questions we will answer tomorrow night include:

• What exactly is self-publishing, and what can I expect from a self-publishing company?
• How much does it cost to self-publish (and how can I be sure I won’t get ripped off)?
• What kind of distribution does a self-published book get? (I.e., will the book show up on a Barnes & Noble bookshelf?)
• How do you distinguish the best self publishing companies

If these are your questions, sign up for the call!

If you have another question you would like to see Mark Levine answer, now is the time to ask it.

You’ll get all the details, plus “The Author’s Bill of Rights” and Mark’s PowerPoint on “Why Self-Publish?” when you sign up.

If you can’t make the live call, you will get the replay link–if you sign up!