Things every author consider when considering self-publishing vs. the old-fashioned model…
7 – Traditional publishers lose money on over 85% of the books they publish, so they only accept around 2% of those that are submitted.
6 – They typically accept manuscripts only from established authors who have demonstrated a proven track record.
5 – Authors lose content control of their work during the editing process.
4 – Authors must still invest an enormous amount of time, energy, and money promoting a traditionally-published book.
3- Authors typically receive 5-10% royalty on the wholesale price of the book, and from that have to give 15-25% to their agent. Do the math.
2 – The majority of books published by old-fashioned publishers go out of print within 3 years. Many books that are stocked on book shelves remain stocked for as little as five weeks before being returned, unsold, to the publisher.
1- Old-fashioned publishers acquire all rights to your book and keep them, even when the book goes out of print or the publisher goes out of business. Yikes.