Being Your Own Publisher

Questions for a Self Publishing Company

I’ve found success in my writing by being my own publishing house.  It’s easy to do and cuts out the middle man.  There are disadvantages, true, especially limitations distribution.  Recently a friend asked me questions about how my company works.

 

Interviewer:  Are you your own publisher?

    It's easy to be your own publisher -- all you have to do is decide you are one. No registration, training, or fees required. By creating my own publishing house I’ve established a brand.  I started off with a name, “Doctor's Dreams," which reflects that I’m a doctor yet my writing is not necessarily about medical material.  The next step was to create a logo.  Mine is based on a photo taken by a friend (see picture) which I’ve used on my business cards, correspondence, and in my publications. I have a checking account devoted exclusively to writing with my logo on the checks. I have my website www.DoctorsDreams.net. If you plan on putting out more than one book, setting up a brand and a publishing house might be worthwhile, as well as fun. The first step to building your brand is creating one.

   The major disadvantage of being your own publisher is that in order to get your books in major outlets, like Barnes and Nobles for example, you have to go through a distributing house.  It’s not a matter of just contracting with their distributor either, the distributor must agree to handle your book, and to do so, they want to see you have an extensive sales plan (Social media, records of prior sales, or a remarkable book).  Even when Barnes and Nobles agreed to carry my “Rocking Chair” book, I couldn’t get their distributor to carry my book.  If you go with a more traditional publisher, such as Joe Lee’s Dogwood Books, or Create Space by Amazon, they will take care of the distribution for you. 

 

Interviewer:  Did you do an LLC or anything? Business plan? What Mississippi state laws apply, any? Tax ID? ISBN number?

   I'm a solo proprietor. I haven't spent any money on setting up a corporation or anything like that, though it’s not a bad idea.  If you plan to publish non-fiction which might be considered slanderous, such as unauthorized biographies of important figures, setting up an LLC is worthwhile for protection against being sued.  I wouldn’t be surprised if there are tax benefits to being incorporated, but for the amount of money I make, it’s not necessary.  However, it IS important to keep careful books.  I record every one of my sales, run a strict yearly inventory, and document all books I give as gifts, promotions, and donations, for each has a different tax implication.  For example, many of the books I give as gifts have potential to be promotions, however, many do not. 

   I have a MS state tax number and I pay my sales tax monthly.  I also have a license to run a business at my home address.  I use my own social security number. However, it's easy enough to apply for a business tax number, though not necessary.

   Purchase your ISBN numbers from Bowker.com www.isbn.org.  They’re the only registered distributor of ISBN numbers in the country.  ISBN cost $125 for one, $250 for 10, $575 for 100, and $1000 for 1000.  I initially bought a block of 10, but I’ve now used them up (hard back copies, soft covers, e-books, and audiobooks each require a separate ISBN).  This year I’ll buy a block of 1000.  You can buy individual ones cheaper on line, but then the company who sold it to you will be your nominal contact printer.  Most printing companies you contract to will provide you one, because, well, they probably bought a thousand and it only costs them a dollar to give you one.

 

Interviewer: Where did you find your printer? How did you know they were reliable?

   I’ve heard several opinions on this one.  A couple of people in my group have used regional printers with great success.  One told me that there’s one printing company somewhere in the Midwest that does most of the country’s actual printing and he uses them directly.  However, I can’t give you more information on that as I’ve never used them.

   Let me advise to avoid all vanity presses.  They used to be worthwhile as there weren’t better alternatives out there.  Some have terrible reputations.  I’ve known several people who were very disappointed with Publish America and Lulu, though clearly SOMEONE must have been pleased with their work as they’re still in business.  I used iUniverse for my first book, but that was six years ago and though they were good to me, the overhead they charge can be avoided by alternative choices … such as …

    Most beginning writers are using Create Space for self-publishing printing, out of Amazon.com. My-oh-my is it ever cheap and easy! I've used them for my latest book, “Altered Perspectives.” There's no set up costs, you can use your own ISBN or they'll provide one for free (I use my own so I remain the publisher), and they have easy formats for creating the covers. You pay only when you actually have books printed, and they're inexpensive, about $4-$6 each, depending on how big are the books. If you use their ISBN numbers and let them be the printers there are some advantages for distribution rights. If you run off a few copies and then find out there are errors, you can simply load up a revised manuscript and, viola, the problems are fixed!

    An alternative for small runs is to find a local printer. I used one to print my poetry book, $5 each for 200 copies, 80 pages, with glossy color cover.  They sell for $15 each, a good price with a fine profit margin.  For that small project I didn’t even assign an ISBN number. 

   For my biggest projects, BIG runs with hard covers and interior glossy photos, I go out of country to print.  I use Pacom out of South Korea.  I’ll be happy to refer you to my agent if you want further details.  You have to order a minimum of 1000 copies to make this kind of project worthwhile.  But then, it really IS worthwhile.  Libraries, for example, prefer hard cover, and they make a very handsome book.

 

Interviewer:  How many copies did you print of most of your books? How did you set your price? Do you create e-books?

   You have to be able to judge your markets. I printed 2500 copies of my "Ndovu the Elephant" in mid - 2011 and have sold almost 1000. It’s a gorgeous children’s photo book that sells easily, by far my best seller, and I anticipate selling out in another 2 - 3 years.  Ndovu cost $2.50 a copy to print and I sell it for $20.  I printed 1000 copies of my "Rocking Chair" in 2012 and sold 450 in half a year. I anticipate selling it out in 2-3 years as well. The poetry book, 200 copies, is a slow seller. I don't know how long it will take to sell out, probably closer to 5 years. A lot of this depends on your sales plans. I sell mine at various arts and crafts fairs primarily. I'm a good salesman. I have my books at nearly 20 distribution sites; books stores, gift shops, etc, though they rarely sell unless I'm there promoting them. Not never, but rarely. I probably sell about 5 to 8 books a month in these outlets.

   Let me mention, at this point, I have a storage locker.  I used to keep all my books in my garage, but once I reached the 4000 copy level, I couldn’t fit any more in.  I rent a climate controlled locker that keeps the mice and cockroaches out, and, hopefully safe from natural disasters.  Costs about $70 a month.  It also makes yearly inventory a lot easier.

   Setting a price depends on how you plan to distribute your books.  Most bookstores want 40% commission.  So if you’re publishing through Create Space, for example, your books are going to cost about $4.50 each.  If you price them at $12, that means the bookstore will get $4.80, you’ll get the other $7.20, minus your cost, is $2.70 profit.  Not very much out of a $12 sale, but higher prices won’t sell.  In general, hardbacks sell for $16-$25, paperbacks $10 - $15.  Self-publishers tend to try to charge too much, in my experience.  And vanity presses REALLY charge too much.  I typical Lulu publication will run about $25 for soft cover, a very tough sell. Lower prices will reduce your profit per book but significantly increase sales.  By self-publishing and self-selling I’m able to have a MUCH lower cost than going through other publishers.  AWOC.COM out of Texas published my three “Afternoon Tales” anthologies.  He priced them at $11.95 and $14.95 each.  They won’t sell well there.  I sell them at $10 and get reasonably good responses.

   Converting your books to e-book format is not a simple task.  You would think it would be!  It seems that Kindle and Nook would take your word processor files and just have a plug in, like Create Space does.  But, no, you have to go somewhere else.  I have a friend who did mine, but I understand Smashwords is reliable. I'm not good at promoting them on line or in social media. I know of many people who sell them by the thousands. I sell fewer than a dozen a quarter (3 months) on line. I have a business card with them on them that I hand to anyone with a nook or kindle I see. They're cheap, only $3, but I clearly haven’t figured out the e-book business yet.

 

Interviewer:  Did the printer do the specs on your book covers? I know you used your photos? Did you do covers or hire outside help?

   I designed all my own covers, using my own photos as you pointed out, but once they were designed I used a professional graphic artist to format both "Ndovu" and "Rocking Chair" to the printing companies requirement.  On the first three "Afternoon Tales," I sent my printer (AWOC.COM) the desired photo cover and he designed some layouts and we worked together until we settled on what I wanted. I designed my latest, "Altered Perspectives" through the format on Amazon.com ... well, I created it first in Publisher program with help from Photoshop. You should be able to find someone locally who can help you very inexpensively.  Hiring a professional graphic artist might be expensive, though, it might be worth it. After all, THE COVER SELLS THE BOOK.  Really.  It does.  Many publishing companies, if you’re not self-publishing, will provide you with a cover.  iUniverse did a gorgeous one for my murder mystery “Inheritance.”

 

Interviewer:  Do you get an outside editor to look over things or do you do that yourself since you have a lot of experience under your belt?

    EVERYONE needs an outside editor. I'm an excellent writer / editor, but I still miss things. See who you can find to help you. No matter how much you pay, though, they're likely to miss something. Try to get three or four writers you know to give it a good read through.  At this point we’re not talking about major critiquing and editing, but really just proofreading.  GCWA has had several professional editors come through who I can recommend, and also members who will just do proofreading.  This runs anywhere from about $50 minimum for the whole book, to $3 a page medium charge, up to $12 a page for maximum work. 

 

Interviewer:  Did you register your own copyrights or register with Library of Congress? And if so, before, during, or after the publishing process?

   You don't need a copyright. Period. Check out the phraseology in other books and paraphrase or copy it verbatim about “Reserving all rights …” and “No part of this can be copied without express written consent ...” and print that in the opening business page of your book and that's all you need. First off, no one is going to steal your work (people are too busy with their own stuff and, most likely, your stuff isn’t THAT super-fantastic … no offense).  Secondly, if someone DOES steal your ideas or actually whole sections of your work, you can easily prove you wrote it and published it first.  But most importantly, trying to sue someone for stealing your work is a waste of time and money, unless somehow they made several million off your ideas.  Then, of course, they can afford expensive lawyers and you’ll probably lose anyway.   

    The old wives’ tale of mailing yourself a copy and keeping it sealed so you can prove the date in court is total hogwash.  It’d NEVER stand up in court and since you’ll be changing your work over and over until it’s actually in print, you’d have to be sending and saving huge stacks of manuscripts!

   I do get Library of Congress numbers.  There are two levels for this.  So far I’ve ONLY published my own books so only qualify for what they call a Preassigned Control Number.  Look up “Library of Congress” on Google.  You have to register and they’ll provide you an ID and you choose a password.  If you become a more extensive publisher, that is, if you publish at least three different authors and have a wide enough distribution sale of your books, you qualify for the next level and they will classify your books in several categories.  In either case, you have to send them a book as soon as one is ready.  You should get this number BEFORE publication so it can be included on the copyright page of your book.

Interviewer:  Any last words?

Being a self-publisher is surprisingly easy and much more profitable.  I never have to worry about rejections or deadlines or incredible delays or cancellations.  Just be sure your book is REALLY REALLY ready to be published.  Nothing is ever perfect, though, so be sure it’s your best work and then PUBLISH!  You’ll be glad you did.