It seems like choosing between traditional publishing and seeking your own path has become even more difficult in the last two years. A lot is in flux, but no one can expect you to keep up with every motion the market is making. Here’s a rundown to get you up to date:

The Great Resignation of Agents and Editors

We’re all aware that in the last couple of years, there has been a mass exodus of workers from their fields in every industry. In my opinion, the services and products of every industry I touch have suffered because of it, and companies are using it as a means to price gouge and make record profits in the meantime. The same is true for literary agents and publishing house editors. There are some major drawbacks to publishing traditionally, and querying has gotten out of control difficult. It’s hard to justify putting yourself through that experience to be met with a fleet of inexperienced agents and editors with few more experienced to use for guidance and wisdom.

The Disappearance of Book Stores

In case you missed it, Barnes and Noble recently started informing publishers that they will no longer be stocking books of debut authors unless or until they reach a certain threshold of sales online, and authors with past works that haven’t met the threshold in the past will be held to the same standard. This means that less than a handful of books per publisher per season will make it onto shelves, and new authors that see huge boosts from casual readers stumbling upon their novel will no longer have the opportunity.

This disproportionately affects authors from marginalized communities too, obviously, as their stories have a smaller immediate audience. If you’re not going to get the marketing benefits of the old traditional publishing system and are capable of competing with them in the same spaces (online), how much better of an experience is it going to be? And this is just the beginning. Check out former Borders employees on Twitter. They know the signs.

The Merging of Competitive Publishing Houses

In late July, it became clear that the Department of Justice was going to use anti-trust law to block Penguin Random House’s acquisition of Simon and Schuster. It is the Biden Administration’s belief that this merger will significantly shift the balance of power in the publishing industry in a way that will erode it over time by offering fewer options to authors and having few challengers in competition. Unfortunately, it appears that whether the merger goes through or not, the outcome is likely that authors will see more difficulties during querying.

The Equity of Self-Publishing

At the beginning of 2022, I dubbed it the best possible year to start self-publishing if you haven’t already. A lot of that has to do with the rumblings in the publishing industry even before all of these announcements were made. But another reason is because just like with any career, building a following as an author takes time. The sooner you get started, the more likely you are to grow the audience you want, provided you’re publishing quality work. The good news is that even if no one is reading your book at first, it only takes one book gaining notoriety for huge numbers of readers to go back through your back catalogue. Much like a mortgage, equity trickles in at first and then slowly grows until you’re making more than you put in. But it doesn’t hurt to find tips to keep costs low while self-publishing to help in the meantime.

The Joy of Building Your Own Editorial Team

Imagine the opposite of the querying process. Okay, hiring an editorial team isn’t quite like that, but you do hold a lot more power. Instead of sending out feelers and waiting by your inbox in hopes that you’ll get a small bit of recognition, you can be reaching out with intentionality to schedule dates and meet with editors, marketing coordinators, and cover artists that align with your vision. And when you hire an indie editor, you’re the boss! You get to say how the partnership will work, and so long as that fits into their existing schedule, it’s their job to make it happen for you. Gotta love that, right? Because these team members are meeting you on a more equal footing without the power structure standing between you, you’re more likely to find collaborators that have an emotional stake in your success as you move forward in your career.

Self-publishing isn’t a golden answer for every author. It has disadvantages that can be prohibitive for some. But there are great things it can offer you if you’re ready to take on the challenge, and it can help you sidestep the tumultuous situation publishing is undergoing right now. So, I think it should at least be considered by every author. Do what’s best for you and your book. If you ever want someone to talk with about it as you make your decision, feel free to reach out.