Ever dream of becoming an author? Advantages and disadvantages of traditional and self-publishing

Have you ever dreamed of coming out with your own book?

I’m queried weekly by a plethora of individuals wanting to become an author. A worthy goal if you have the right message indeed!

Step one: write your book.

Step two: to self-publish or be published (by a traditional publisher) or a little of both?

Let’s tackle the first part of step two – self publishing.

To move past the dream of writing a book and now getting it self-published is a desire that most "would be" authors only dream about.

Here’s some of the advantages and disadvantages of both options.

First, if you’ve actually researched and written a manuscript you’ve make it 99.9% further than most “want-to-be” authors. However, the next step is to get your information out to the public.

Advantages of self-publishing:

You’ll make the maximum profit on your book. Yes and no. Sure, you might be able to negotiate rates lower than what your publisher will charge you to purchase your own book, but likely not. A large publisher has years and thousands of printing jobs negotiated. I’m able to purchase my books from my publisher at a much lower cost than printing my own book as I did with my first title.

Complete control over your content, cover design, page layout and more. Yes, this is true. But you’ll also have to pay for that control. Consider the costs of hiring an editor, finishing editor, proof reader, registering the ISBN and Library of Congress info yourself and so much more. Yes, you’ll have total control over your book, but at what cost?

Disadvantages of self-publishing:

There’s certainly something to celebrate when finishing your manuscript and finding the investment to publish it yourself. However, getting the attention of a traditional publisher who will find merit and worthiness in your work and be willing to back that work with their investment of time and dollars is another matter. And finding a traditional publisher these days is tougher and tougher. Yes, you do relinquish a certain degree of control. The publisher does have a final say on many things, but again, it’s their investment of time and dollars.

D-I-S-T-R-I-B-U-T-I-O-N: When I researched publishing my first book (and had to go the self-pub route), I read all available material, attended every seminar and was sure I had a rock solid business plan to market my book. However, one small word, which is key to an author’s success, was never mentioned in my due diligence – and that’s distribution.

Amazon.com will take you on as a self-published author, but the cost and frustration isn’t worth the effort for small runs. There isn’t a reputable distributor that will work with individual authors over a large publisher that’s worth the time (think about thousands of authors calling for payments and more or the distributor dealing with one publisher on behalf of thousands of authors).

I remember visiting a bookstore in Granville Island in Vancouver on a stop for my first book tour for my first traditionally published book. It was a tiny, but hip and quaint book store in Granville Island with no more than three feet of shelf space dedicated to their business section, and there ... was one copy of my newest book, The Woman’s Guide to Money, thanks to the strength of the distribution of my publisher. How could I as a prairie resident ever find the marketing dollars to personally visit and convince every large and small book store across Canada to stalk their shelves with my book?

How do you get published with a traditional publisher?

Get famous or write the most extraordinary book on earth. Even then it’s tough. Consider that a medium sized publisher might come out with twenty to fifty books a season and they likely receive thousands of unsolicited manuscripts a month. So, for the non-famous author with a message to spread, self-publishing might be the only option.

Another option is to self-publish your own work and create a successful marketing campaign that then gets the attention of a traditional publisher. After all, if you aren't confident enough in your own book to back it with your dollars, why would a publisher?

There’s a plethora of support services for authors wanting to self-publish and many of them offer lower cost, small run options. However, as mentioned in my last point, the lack of distribution available to a self-published author generally means a garage or office full of books gathering dust (other than the ones you gave to your friends and family.)

I did stumble across one company that compelled me to write this post. They offer everything their competitors offer plus much more (a la carte editing, proof reading services) but there’s one major difference with this company that I haven’t found with any other out there – distribution. They include a one year distribution service that’s invaluable for the first time author.

If you have a book “in” you that needs to get on bookstore, library and Amazon’s shelves, check them out for yourself: http://www.ardith.ca/.

New show enlists kids to cut mortgages - Toronto Star

September 18, 2010
James Daw
Personal Finance Columnist

Meet Roman and Christine Clueless as they learn how to repay their $450,000 mortgage before their 70s.

Watch them and their sons get into the act, discovering how to reduce debt, as they compete for a $5,000 reward on the upcoming television show Burn My Mortgage.

Read the full article here: http://www.thestar.com/mobile/business/article/862866

Burn My Mortgage - watch the first episode online now at the W Network

Catch a sneak peek of the first episode of Burn My Mortgage now online at: www.wnetwork.com/shows/burnmymortgage/watchfirstepisode.aspx

Burn My Mortgage starts October 5th on W

Kelley is proud to be the new host, along side co-host, Chad Bisch, of Burn My Mortgage premiering on the W Network.

Burn My Mortgage airs Tuesdays at 8 p.m. ET/PT beginning October 5, 2010.

Burn My Mortgage shows clueless homeowners that with a little bit of pain, there is a lot to gain when it comes to paying off one of life’s biggest purchases. The price of real estate has gone sky high, and despite low mortgage rates, families are drowning in mortgage debt. Lead by financial expert Kelley Keehn and motivator Chad Bisch, Burn My Mortgage helps families shave years and tens of thousands of dollars off their mortgages in an engaging and entertaining format. Produced by RTR Media in association with W Network.

Happily Ever After Marriage by Sarah Hampson a "must read"

Witty, insightful and superbly written, columnist Sarah Hampson's new book, Happily Ever After Marriage is as entertaining as her Globe & Mail articles.

Personally, I've been a fan of Sarah's for some time and as the child of a divorced family, her musings gave me a glimpse into the struggles my own mother likely faced.

Obviously, the most quantifiable impact in divorce is the financial one. However, the challenges moving forward as a single mother are a statistically growing segment of our market. This book provides an entertaining and thoughtful read for all women.

Here's a terrific article with the author herself - http://www.bookclubs.ca/catalog/display.pperl?isbn=9780307397683&view=printqa

Here's a couple of interesting articles written on Sarah's book:

- Divorce changes us, but living happily ever after is still a possibility, Montreal Gazette http://www.montrealgazette.com/life/Divorce+changes+living+happily+ever+after+still+possibility/2979076/story.html
- With this bling, I thee dump, Globe & Mail
http://www.theglobeandmail.com/life/family-and-relationships/with-this-bling-i-thee-dump/article1543689/

Happily Ever After Marriage
There's Nothing Like Divorce to Clear the Mind
Written by Sarah Hampson
Category: Biography & Autobiography - Personal Memoirs; Family & Relationships - Divorce; Current Affairs
Publisher: Knopf Canada
Format: Hardcover, 320 pages
Pub Date: April 2010
Price: $32.00
ISBN: 978-0-307-39768-3 (0-307-39768-8)
Also available as an eBook and a trade paperback.

Cash is still king and why you shouldn't fully rely on your debit card

There's nothing that will spoil a shopping experience as much as hearing the dreaded words, "declined" when paying for a purchase after a long, hot work-day.

Yesterday, while using my debit card for a relatively small purchase, my card was declined. Shocked and dismayed as I mumble to myself in disbelief while a long line of irritated customers sighed as I insisted the clerk retry my card, it failed me when I needed it. Annoyed with myself that I didn't have more than five dollars cash in my wallet, I defaulted to my credit card. Knowing there was a large amount of funds in my savings account that I was trying to accesses, I tried again at another store and still heard the dreaded word, "declined" from the store clerk.

I called the number at the back of my card (the bank shall remain nameless) and they informed me that my "card was compromised" and my limit for purchases had been reduced to $200. Although I pressed for an explanation of why, the call centre rep simply repeated the statement and told me I had to get into my bank to get a new card. Easy for him as he's not the one working during banking hours making it impossible for me to get a new card this week. Further more, the purchases I was trying to make were both under $200.

Lesson learned: folks, because we're "protected" from fraud on our debit and credit cards, these companies and the banks are flagging accounts quicker than ever and shutting down access or reducing limits more and more. Without a debit card and no time off to get to my bank, I of course have no ability to access cash either. Thank goodness I have two back up credit cards to make it to my next day off.

Take a moment today and ensure that you have a reasonable amount of cash on hand that could take you through a long weekend (God forbid debit and credit card terminals weren't working - what would one do?) And, ensure that you have at least two credit cards ideally both with a zero balance.

Be cautious when using your credit card at gas station pumps

On a recent trip to Toronto, I had to gas up my rental car. To avoid an umbrella-less dash to the store during a rain storm, I thought I'd just use my credit card at the self-serve pump. I inserted my MasterCard and the clerk chimed in over the loud speaker, "the credit card option isn't working - you'll have to pay inside."

So I did, paid with cash, thought nothing of it and went about my day. Until, I received an email alert (my MasterCard sends me an email alert when there's a transaction on my account) for a $100 purchase. I called MasterCard to find out what the charge was and they told me it was ESSO, the gas station putting a hold on my account. Even though the machine supposedly didn't work.

Again, I thought nothing of it and went about my life. Today, I logged onto my account and saw there was a $25 charge from the date in question. I called MasterCard and after a reasonable amount of time (but still a wasted 20 minutes of my life), they're reversing that charge with follow-up proof of my cash paid receipt.

I'll definitely think twice about using my credit card at a self-serve pump in the future and also a reminder to keep all receipts.