My self-publishing journey
By Rodney Hobson
I have just
self-published a book for the first time. It was a daunting experience and I
will probably lose money on the arrangement but the thrill of seeing my name in
print is undimmed by 50 years as a journalist and author. It helped that I have previously had books published by
recognised publishers so at least I knew the ropes.
Starting with Shares
Made Simple in 2007, I have now had six finance books published as
paperbacks and subsequently as ebooks by Harriman House, which specialises in
financial publications, plus a second updated edition of the first book.
Traditional publishers typically pay royalties of 7.5% on paperbacks and 25% on
ebooks. Harriman pays using a slightly different and slightly more generous
system.
I faced a much tougher decision when Endeavour Press offered
to publish my detective stores but only as ebooks with a 30% royalty. The 'bird
in the hand' view was that at last I got published and the royalty offer was
generous. The downside was that I would have no hope of persuading a
traditional publisher to take on these books as they would want the full
rights.
I took the bird in the hand. Over the past few years, publishers have preferred ever longer crime books, so it was unlikely that
anyone would look at my 45,000 word book when the norm has become 80,000. Also, I was conscious of the trend away from the type of cosy whodunit that I write
and towards gritty psychological thrillers.
However, I retained the print rights, keeping open the
option of self-publishing. After Endeavour had published the first five Paul
Amos Lincolnshire murder mysteries, and with a sixth started, I decided to take
the plunge.
The main consideration was that the book was set in a
specific area, Lincolnshire, so there was the possibility of selling through
bookshops in the county as a local author and even setting up a stall at
Christmas and summer fetes, as my wife comes from Lincolnshire and we are
frequent visitors.
I already knew the very important difference between self
publishing and vanity publishing and had no intention of taking the vanity
route.
In traditional publishing, the publisher takes all the
financial risk but retains ownership of the books and takes the larger slice of
the proceeds. In self publishing, you publish under your own name and stand all
the costs, but you own the books and you take all the proceeds. In both cases, risk is linked to reward. Vanity publishing has the worst of both worlds: you take all
the financial risk while the publisher owns the books and takes the greater
reward. You are paying for the pretence that the publisher chose to publish
your book.
I went on the Internet to find a company specialising in
self publishing, and three names came up. One was a printer in Catford, just
four miles from where I live in southeast London. This had the advantage that I
could call at the premises and see its work first hand. A friend who does cover
designs had used it and could vouch for its quality. The big drawback was that
it was only a printer and would not be able to give support in distribution.
I spoke on the telephone to the other two companies, one in
London and one in Essex, but it became clear to me that they both provided what
I regard as vanity publishing, despite their protestations to the contrary.
Both would have published under their imprint and would have paid me royalties.
I finally chose York Publishing Services from an
advertisement in the magazine Writers’
Forum. Their deal meant the book was published under my name as publisher. They
sent a comprehensive, easy-to-read guide, so I knew exactly what was happening, and they arrange printing and have supply deals with Amazon and book retailers. As it happened, my wife and I had planned a holiday in
Yorkshire so I arranged to call at the YPS office on York, as I prefer to deal
with people I have met rather than communicated with entirely by email.
The copyright on the cover for the ebook belonged to
Endeavour, so we needed a new one. YPS would have arranged this and would have offered
me a choice of possible covers, but as I knew a book cover designer I made my
own arrangements – though it is important to make sure that your designer is
working to the correct size specifications.
YBS gave me a choice of typefaces and page layout styles
with a pick and mix option. Costs depend on the size of book and how many copies you
have published, but you are probably looking at about £1,400 in total to produce
250 books. Any subsequent reprints work out cheaper as the book is already set
up on the computer and longer print runs cost less per copy.
After talking it over with YPS, I decided to print 250
copies and to price the book at £7.50. Pricing is a tough choice and was
entirely my decision, although YPS was willing to give some guidance. The
initial price will probably not cover the first print run but will, I hope,
recover most of the costs and if I get sufficient sales the second run will be
more of an economic proposition. At least I can claim the costs against income tax, although
by the same token I will naturally be obliged to declare sales as income. I chose to have 50 books sent to me and the rest remain with
YPS for distribution. The choice of the split was mine and I can always ask for
more books if I sell the ones I have. After all, the books belong to me.
The title of the book is Dead
Money. Whether that refers to the decision to self publish as well as the
plot, I am about to find out. The webpage is www.ypdbooks.com/fiction/1718-dead-money-YPD01910.html - see below for the blurb.
Anyone thinking of self-publishing should allow six months
from completion of the book to having a copy in your hand. You can do it faster
but it is best not to rush, rather to think carefully about decisions. There
can also be unexpected hold-ups – a package sent to me was delivered to the
wrong house and not passed on so always keep in touch with the company handling
the publishing.
If any readers of this blog are thinking of self publishing
and want to ask any questions, you are welcome to email me at rodhobson@hotmail.com and I will do my
best to help.
About Rodney Hobson
Rodney
Hobson is an experienced writer, journalist and broadcaster who has held senior
editorial positions with publications in the UK and Asia, including Business
News Editor at The Times. He is the author of a series of investment guides,
most notably Shares Made Simple, the authoritative beginner's guide to the
stock market, and has written five crime fiction books. He is a frequent
speaker at conferences and on cruise ships.
Find Rodney Hobson through his website and on Twitter - @RodneyHobson
About Dead Money
Dead Money
By Rodney Hobson
By Rodney Hobson
The book is available from http://www.ypdbooks.com/fiction/1718-dead-money-YPD01910.html
About the book
The first Inspector Paul Amos Lincolnshire murder mystery
A Lincolnshire businessman is found brutally
bludgeoned to death in his bed with a blood-stained iron bar lying on the floor.
At first it looks as if the
murderer must be a neighbour, but Detective Inspector Paul Amos is forced to
widen his search as he realises that the dead man has made enemies in his
wheeling and dealing. To make matters worse, a chance discovery suggests that
the murderer may have accidentally picked the wrong victim.
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