If you've read any of my latest entries, you know that I'm considering self-publishing seriously for a number of reasons. I believe that the future of publishing is changing and the industry will be completely reformed in 5-10 years. The bound book will disappear, which will spell the demise of one of my most revered places; the bookstore. Opportunities will abound for the savvy writer and publisher alike. iBooks.com is already under construction and my imagination runs wild about who is the power behind it. Amazon.com already claims close to a million sales of their first generation Kindle--an electronic book reader that Oprah endorsed and can't live without--and their sales of eBooks are a significant portion of their overall sales. Remember, an eBook is like a digital recording of music; once the original is created infinite copies can be sold at 100% profit. No other materials, warehousing, shipping costs, etc. are required, only the cost of marketing.
That brings me to the biggest reason behind my decision to possibly self publish. With the massive numbers of new books printed yearly, publishers allocate marketing budgets for only a select few of their authors, the rest are on their own, and for what, a tiny percentage of not even net sales. Without a minor miracle, an author's book without marketing will rarely sell more than 5,000 copies. My belief is that if I'm responsible for all of the marketing—the most important aspect of sales—then I'm entitled to most of the profits.
Well, my first novel is ready. I can do no more edits, it's been edited exhaustively by others, the cover's ready and phenomenal, and all that's left for me to do is sign a contract with my favorite POD company. Why have I waited? In big part, it’s because of the economy. I'm sure book sales are suffering too. The other major factor is that I'm just not ready financially and need more time to plan my marketing strategy. Marketing takes money and successful marketing requires a well-developed plan. I'm not there yet.
Therefore, while I wait and ponder, I've been sending out queries to agents; email queries only. Printed and mailed queries are a pain. Just recently, several agents requested portions of my manuscript: the first chapter, the first 30 pages, or the first 50 pages. One agent who requested 50 pages 4 days ago just requested the rest of the manuscript. What? Wait a minute. I had given up on agents and the traditional route. I was only fishing for fun and now I find myself with a potential dilemma. What if they want to represent me? Will you still respect me if I whimper out and go the traditional route? I checked the agency's web site and while they aren't a big New York firm, they are tremendously successful and have represented at least 50 bestsellers. Not only that, but a BLOG at their site says that they love it when they get 50 pages and they just have to see the rest, and my book does one thing very well, it draws you in more and more as each chapter goes by.
Of course, I'd be projecting if I began to believe that a publishing contract and debut is soon to follow. I'm grounded and realistic enough to know better than thinking that way. It's like imagining what your children will look like halfway through your first date with someone you just met. The word premature doesn't come close to defining it. I can however, entertain a few brief fantasies. I've already had one contract to publish my first novel and I canceled it because I realized that my publisher was not right for what I wanted and expected. If a real publisher makes me an offer, would I take it? As long as the rights were not for perpetuity, you bet your sweet bippy I would. The industry is changing, and will change even more, but for the moment, the traditional business model is still King.
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