Traditional publishers are usually large for-profit companies that publish many book that have a broad appeal. They take care of all the editing, production, and marketing tasks for an author, which can be expensive. Since they exist to make a profit and they take on all the risks of covering their investment, they reject nearly all (98%) books submitted unless the author or their story is known to have wide appeal. The publisher controls all the rights to the book and has the final say about a book’s content, which can extend the time it takes to publish a book. Literary agents negotiate contracts with companies that can generate large profits for authors, and books made into a movie or TV series can be lucrative for authors. The companies may want highly successful authors to write more books to generate more revenue.
Traditional publishers require authors to work through a literary agent. These agents know what types of books publishers are looking for and have experience negotiating contracts and working through the publishing process. Authors don’t pay any money to agents, who only get paid when a contract is signed. Most literary agents receive 15% of the book contract and don’t guarantee a book’s success on the market. This motivates agents to find a company that will buy the rights to the book. But it also limits the likelihood they will represent writers who have not already established a reputation or have a broad platform or following. Legitimate literary agencies can be found online.
The best option for most writers to publish their book is via independent self-publishing companies. These companies get books published without interaction with agents and can get books on the market faster. At a minimum, these companies will review your book, but there is no guarantee they will accept it for publication. If a book is accepted, the publisher handles the details associated with the book’s production, from editing the manuscript to producing the book and making it available online and to major retail outlets. These companies usually require 100% payment for their services before they begin work. Some may suggest purchasing optional services, such as editing, to ensure the book will be high quality. Authors retain complete control of the book’s content and design and have complete ownership of the product. Authors also receive royalties of different amounts. The royalties generated may or may not cover the cost of what it takes to produce book, and book sales depend on its quality and demand and the extent of various forms of marketing efforts.
