How Shall I Publish?

As I said last week, When your manuscript is finished and polished, you might want to submit it to a major publisher, small presses are also an option, and for some self-publishing might be the right choice. What’s the difference? Here are some thought might help you choose.
Of course, one of the biggest differences between the publishing options has to do with the money. A publisher has to invest in the books they choose. In the case of major publishers, authors get a nice advance against projected royalties. Once the advance is earned the author gets a pre-determined percentage of the money on further book sales, usually around 8 percent, although some companies will give you a percentage of the net (their profit) instead of the gross (cover price.) Those royalties will be paid quarterly or semi-annually, with a certain amount held back against returns.
Some but not all small presses pay advances just as described above, but in every case they make the investment to get your book printed, shipped and sold. If you self-publish, you invest your money into the project and receive all the proceeds after the book store and distributor take their cut.  
When you submit to a major press your book is one of thousands they see every year. That’s not to say yours can’t rise to the top. Naturally the quality of your writing could make your book the one they choose to publish, but that’s not the only factor. Their acquisition team will consider your story’s sales potential and how well it matches their style. Luck will play a part too. You could be pushed aside if they already have something on their schedule that is very similar to yours, if they’ve already filled the year’s schedule, or if the subject matter just isn’t what they think is hot right now. As you can see the timing can matter in ways you have no control over.
If you decide to aim at a small press, quality, sales potential and matching the publisher’s style will still be major factors. But in most cases your book will be considered on its own so luck is less of a factor and you, the author, are more important. The small staff will often reject even a great book if they sense that they won’t be able to work with the author. The more excited you are about your book, the more you ae willing to accept edits, and the more likely you are to be a strong partner in the marketing and promotion of your book, the more likely you are to be offered a contract
Naturally if you choose to self-publish, the only person you have to convince is you. If YOU think your book is good enough, and will sell enough, you can publish it.
There are lots more differences between the three publishing options, and I’ll talk about them next week.