Ditchwalk wrote about the new money flow. I wrote about independent authors being the little sister to traditional publishing, still in it’s infancy but will surpass her big sister someday.
A second analogy: traditional publishing is to independent authors as being a paid employee is to entrepreneurship.
What are most people striving for?
Working for themselves.
Why are authors so keen to let a publishing house have most of their profits? Because they make their books pretty?
Thanks to the internet, stock photography and creative commons licences, you can have your pick of images and create your own cover. It takes a few hours work, but I think that might worth a few percentages of income.
Formatting takes a little more work, but well worth the effort.
Editing isn’t so hard. A few hundred dollars to the right people can get your book edited now days. Actually, if you are willing to put in the time, you can get your book edited for free, so long as you are willing to do the same for someone else. Editing is little more than basic spelling and grammar knowledge and a fresh set of eyes looking at the text. Bite sized edits is proving to be a valuable tool.
There is marketing. And traditional publishers have a bit of advantage on this. They can get a book into every book store in the US and Canada (or the UK- depending on where you publish).
Getting them into bookstores is only a piece of the challenge. Most books end up being sold less than cost or eventually sent back to the publisher and destroyed.
There are many advantages to self-publishing.
Right now I have to edit my book some more.