According to the recent statistics from WordsRated, sales of self-published books rose 264% in the last five years to 300 million copies annually on average, generating $1.25 billion in revenue. These numbers are enough for novice authors to be drawn to self-publishing.
If you are reading this blog, it means that you also have your manuscript ready for publishing or nearing this accomplishment. Like any sensible author, you want to ensure that you make the best decisions for your book to be published.
If you do not feel confident about self-publishing, here are some of the best reasons why you must consider self-publishing.
- Promise Accessibility v
In this fast-paced world where market trends are changing every day, a blooming author must be able to adapt accordingly. You may not be able to promise adaptability and accessibility to your authors when you go with a traditional publishing approach. It is because you will not be the only person to make the creative decisions of your book.
On the contrary, you own all the rights to your book to ensure that it can adapt to the market trends and reader’s preferences when you choose to self-publish your book. This way, you can ensure that your book always remains relevant and accessible in the constantly evolving publishing landscape.
- Decide the Price
One of the biggest benefits you learn about self-publishing while considering how to self publish a book is that you have full control over every decision you make for your book. These decisions also include deciding the price of your book.
As an author, you not only decide on the initial price of your self-published book but also have the power to adjust it according to market trends, reader demands, and popularity to optimise sales and profitability from your work.
While being empowered to put a price on your book and decide on promotional activities is great, remember not to let this power impact your judgement. It is best to conduct market research to put a competitive price tag on your book.
- Secure Alternative Revenue Streams
An author who decides to self-publish opens themselves up to an array of opportunities. Whether you have always dreamed of sharing your skills with others through online courses or considering starting a writing agency, every endeavour can become a bit easier once you self-publish.
With an opportunity to monetize your expertise, you can create multiple sources of revenue to ensure long-term financial stability and success. One of the greatest ideas is to help other authors streamline their publishing journey.
- Enjoy Higher Royalties
One of the biggest reasons why more and more authors are turning to self-publishing every day is because they can enjoy higher royalties, especially as compared to royalties provided by traditional publishing platforms.
If you look into the royalties provided by traditional publishers, you will learn that traditional publishers typically offer authors royalties of 8% to 15% of net sales. On the contrary, self-published authors can earn up to 70% of book sales, promising a more lucrative revenue stream.
The stark difference in the percentages of royalties on book sales provided by these platforms makes smart authors choose self-publishing. It can multiply your earnings and generate a steady income for self-publishing authors.
- Ensure Global Reach
self-publishing authors also hold the power of crossing the geographical boundaries with their books. Several digital distribution platforms are helping self-publishing authors every day to make their books discoverable and accessible to global readers.
This way, an author’s potential does not have to be limited by geographical boundaries or language barriers. Instead, you can reach out to a global audience and establish yourself as a prominent author in a certain genre. Hence, your other works will be looked forward to by not only the local audience but also the global readers.
- Enjoy Diverse Mediums
If you consider publishing your book traditionally, you may limit your potential to explore diverse mediums. The biggest reason for such restrictions is that you do not hold the power to make creative decisions for your work by yourself.
For example, if a filmmaker reaches out to you, hoping to turn your work into a miniseries, you may not be able to give or revoke permission without the say of your publishing house. Over time, such restrictions can make you feel disconnected from your own work.
On the contrary, self-publishing authors have the right to publish their books in a variety of formats, including ebooks, audiobooks, and print books. You hold the right to make all the creative decisions based on the consumption habits of your target audience.
- Take the Creative Control
As an author, you may assume that you have the right to make all creative decisions for your book. Whether it concerns the design or the formatting, you should have the said word. While the author has the creative control of their work makes complete sense; things can change drastically when you publish with traditional publishers.
Publishing your book traditionally means that your creative ideas can be shot down. In fact, there are several instances where authors agree that they had to go against their creative will before publishing a book with a traditional publishing house.
If you value your creativity and do not want to make any compromises on it, you may find self-publishing to be very appealing. As a self-publisher, you make all the creative decisions and choose creative helpers such as editors, cover designers, and formatting specialists based on your preferences.
- Reach Your Audience Sooner
Traditional publishing processes can be very time-consuming. On average, authors who decide to publish their book traditionally find themselves waiting for any amount of time between 6 months to a year. You can avoid this slow and cumbersome process by choosing self-publishing.
