Just read the most fascinating article about self-publishing: http://wapo.st/kosYdH
Almost made me want to write a book.
The traditional publishing model is changing. There has never been a better time to be an author. The barriers to entry are crumbling, and you no longer need a publisher to get a book to market. You can literally do it all yourself.
What am I talking about? Ebooks.
The ebook market was 10% of book sales in 2010 and is projected to be 50% of book sales 7 years from now. Fiction outperforms non-fiction. Most people who own an e-reader buy and read 20% more books than the average reader, and after they purchase their device, read 20% more books.
Think about publishing a book as if you were undergoing a home remodel. If you are willing to do the leg-work, and have some knowledge of the process, you can save a lot of money by hiring and managing subcontractors yourself. Similarly, if you can hire out the parts of the book process that you can’t do yourself, and manage the process, you will reap the majority of the rewards. Royalties can be as high as 70% if you go direct with one of the big 3: Amazon, Barnes & Noble, and iTunes.
So how do you get an ebook to market?
- Write it
- Edit & proofread it (consider hiring out. A service like Elance is perfect for this.)
- Convert it yourself or hire a conversion service
- Set up relationships with the big 3
- Upload your books
- Promote them like crazy!
Stay tuned for a future post on working with the big 3. Things to do and things to try NOT to do. Entering the wrong information in the wrong places can seriously mess up your account with them and will delay getting your book to market.