P&L Planning: How Traditional Publishers Use Educated Guesswork to Evaluate Books
Authors have more options than ever when it comes to publishing a book. We can choose to self-publish, work with a contract publisher or packager, outsource most of the work, DIY everything, or pursue a traditional publishing arrangement. And we can mix and match among these for every book we create, choosing what works best for each unique project. But in order to make the right choices, you have to understand the benefits and drawbacks of each option. There are lots of reasons to choose self-publishing, and lots of reasons to pursue traditional publishing deals. It’s all about making the right choice for the right project at the right time . Traditional publishers, too, have to make choices: with limited resources for editorial, production, and marketing, they have to pick books that they think will succeed. This involves a lot of planning and financial mapping—but it also involves a lot of guesswork. And that’s one reason why navigating traditional publishing can be so frustrati...