I am both an indie and trad author so I hang out in both spaces. In the early stages everyone dreams of a trad offer, and I don’t think those people imagine how LITTLE indie authors care. By the time you’re an indie author with that level of success, you’ve got it made! Successful indie authors (by your definition, Cathie 😉) take specific deals because it gives them specific benefits.
But they are not longing for that trad offer like the beginners imagine. They already have more money and more control, and they’re good at what they do. It’s a good place to be!
100%! Probably the only real value-add to trad publishing for indie authors is books on shelves in brick and mortar stores, and maybe a new audience who’ve never heard of them. Trust me when I say that most trad deals aren’t going to come close to making them as much money on advance as they can make in ebook sales in the first year or two. And they’re giving up so much control that many indie authors find trad publishing stressful.
I can totally imagine! The truth is that the only reason for a "successful" indie author to take a trad deal is to (1) get more money up front, and/or (2) to get widespread print distribution of their books. I have to be honest, if I were a "successful" self-published author, I don't know that there's much indie could do for me. This is why I tell my indie authors to figure out what their hard lines are and understand that I'm right beside them and ready to walk away from the table if the deal doesn't make sense to them, financially or professionally.
Question: let's say I'm a patient author willing to bankroll my debut novel, and am generally comfortable doing all the CEO-stuff... what marketing will a traditional publisher do for a debut author that a) really moves the needle on sales AND b) is hard for the self-publisher to do on their own?
I guess I'm trying to figure out whether all the work/time to get trad published is worth it, especially if (I'm lucky) after 2 years I get a $5K advance w/ minimal marketing effort.
100%! You have to decide how much you’re willing to spend and target it carefully. So no—you don’t need to spend $30K but you do need to do meticulously research so your cash has a reasonable ROI.
Like I said,, there’s no right or perfect path to publishing. If I had the right project, I would ABSOLUTELY consider self publish it. I have the financial means to do it well, and I’m constantly researching the market. The biggest question for me would be, then, whether I WANT to do all the extra work or am I willing to give someone else a bigger piece of the pie to do it for me.
It really depends upon the publisher. And honestly, even with their marketing, there are no guarantees. The biggest advantages of a bigger publisher is 1) no financial risk and 2) brick and mortar stores.
So in the end, it’s such an individual decision. But I was talking to a very successful self-pubbed author this week, and she said she’s spent as much as $30K in a single month JUST on marketing. Most people can’t do that.
Yes, that is a lot for many. The one thing about marketing-spend on self-pub is that it (sometimes) can be tied to immediate sales revenue, so an author can theoretically cash flow it with clarity. Like you said, it's much more thinking like a business, than just a writer.
This was a great piece. Thank you for the insights.
Cathie is awesome, and so many of her writers have found success with both paths!
Love you to the moon and back, Vic! So grateful to call you my friend and colleague.
I am both an indie and trad author so I hang out in both spaces. In the early stages everyone dreams of a trad offer, and I don’t think those people imagine how LITTLE indie authors care. By the time you’re an indie author with that level of success, you’ve got it made! Successful indie authors (by your definition, Cathie 😉) take specific deals because it gives them specific benefits.
But they are not longing for that trad offer like the beginners imagine. They already have more money and more control, and they’re good at what they do. It’s a good place to be!
100%! Probably the only real value-add to trad publishing for indie authors is books on shelves in brick and mortar stores, and maybe a new audience who’ve never heard of them. Trust me when I say that most trad deals aren’t going to come close to making them as much money on advance as they can make in ebook sales in the first year or two. And they’re giving up so much control that many indie authors find trad publishing stressful.
And the money! The money! It's pretty hard to be excited about 17c/book when you know how to get $3/book!
I can totally imagine! The truth is that the only reason for a "successful" indie author to take a trad deal is to (1) get more money up front, and/or (2) to get widespread print distribution of their books. I have to be honest, if I were a "successful" self-published author, I don't know that there's much indie could do for me. This is why I tell my indie authors to figure out what their hard lines are and understand that I'm right beside them and ready to walk away from the table if the deal doesn't make sense to them, financially or professionally.
Such a lot of wisdom here. It takes an enormous amount of effort and energy to self publish.
That is a very interesting read. I never thought about it like that. Thank you.
Great advice, and timely Cathie!
Question: let's say I'm a patient author willing to bankroll my debut novel, and am generally comfortable doing all the CEO-stuff... what marketing will a traditional publisher do for a debut author that a) really moves the needle on sales AND b) is hard for the self-publisher to do on their own?
I guess I'm trying to figure out whether all the work/time to get trad published is worth it, especially if (I'm lucky) after 2 years I get a $5K advance w/ minimal marketing effort.
100%! You have to decide how much you’re willing to spend and target it carefully. So no—you don’t need to spend $30K but you do need to do meticulously research so your cash has a reasonable ROI.
Like I said,, there’s no right or perfect path to publishing. If I had the right project, I would ABSOLUTELY consider self publish it. I have the financial means to do it well, and I’m constantly researching the market. The biggest question for me would be, then, whether I WANT to do all the extra work or am I willing to give someone else a bigger piece of the pie to do it for me.
I appreciate the nuanced responses. Very helpful. Looking forward to more of your writing!
It really depends upon the publisher. And honestly, even with their marketing, there are no guarantees. The biggest advantages of a bigger publisher is 1) no financial risk and 2) brick and mortar stores.
So in the end, it’s such an individual decision. But I was talking to a very successful self-pubbed author this week, and she said she’s spent as much as $30K in a single month JUST on marketing. Most people can’t do that.
Appreciate the feedback, Cathie!
Yes, that is a lot for many. The one thing about marketing-spend on self-pub is that it (sometimes) can be tied to immediate sales revenue, so an author can theoretically cash flow it with clarity. Like you said, it's much more thinking like a business, than just a writer.