How to Start a Publishing Company?
By paul on Tuesday, June 15th, 2021 in No Comments
Are you interested in becoming a self-published writer? And if that’s the case, have you considered starting your own publishing company? Well, we might know how to help you with that!
Traditionally, a publishing company can be a business that creates and distributes novels and other written pursuits. So, you can publish anything of your liking, a children’s book, a young adult novel, or even self-help books, etc. If you look at large publishing forums, they are used to publishing thousands of copies every year – you can start with a handful of books per year. But hey, you must know that it is going to be a lot of work. You can’t just wake up one day and start a publishing business. However, the good news is that it will offer you a great number of advantages.
For starters, you’ll gain a lot of creative control. Wouldn’t it be better if you publish your own book rather than going to one publishing house after another, begging them to take a look and consider it for publishing? Of course, if an established publishing house publishes your book, it will have great marketing but with that, you’ll also lose control over the cover design and campaign ideas.
Furthermore, by starting a publishing house, you can help other authors who’re struggling and hoping to find like-minded readers. Obviously, this would mean that you’ll have to divide royalties and consider marketing options that are not exactly cheap.
Do you know that many people have a bias against self-published books? Well, a lot of people assume that self-published books don’t really go through the heavy editing process, and so they might not be as good as the ones published by established publishing houses. So, if you start a business, you will demonstrate professionalism and be taken seriously by the majority of readers.
And lastly, by starting your own publishing house, you will get the chance to expand your personal brand. If you’ve already established yourself as a writer by publishing it yourself, you can now expand your vision and work with authors with similar mentality and thought process. On the other hand, those authors will gain more exposure and benefits by simply being associated with your brand. Becoming a brand basically gives you authority, and that is something that we all enjoy.
Start a Publishing Company
If you’re ready to start on this relatively new brand, here’s what you should do:
- Write Down the Goals: Look – there are going to be a lot of bumps on the road due to several technical complexities, but if you’ve got your basics written, you’re good to go. Therefore, make sure that you know exactly what your goals are. What do you want to accomplish by starting a publishing company? Do you want partners? If yes, then exactly what are you looking for in them? What kind of books are you interested in publishing? Are there any specifics? Do you want to go digital? What about audiobooks? And also, what kind of income do you expect to make out of this business? There are honestly so many things that you have to consider and mark as goals.
- Create a Brand: once you’re on track with your goals, you have to think about the brand you wish to create for yourself. This means you’ll have to think about the name of the company, its mission statement, and also the kinds of books (genre) you wish to publish. These are some basic yet fundamental questions that will help align your goals with the brand you’re trying to create for yourself. Make sure that the name represents something; it should also be memorable and entice your audience.
- Business Structure: For as far as we can see, we have never seen a business succeed without a structure. Therefore, you have to make sure that your business has a structure for it to run smoothly. You have to figure out what you are going for. Is it a sole proprietorship? Partnership? Limited Liability Company? These questions are technical but essential. Thus, it is important for you to study all structures properly before making a decision.
- Registration: Obviously, the first thing to do after deciding to start a company is to register it. Hence, get your Employer Identification Number (EIN) so that it can help you IRS identity. It will also help you out in tracking your business. The registration can be done through mail or fax and even online.
- Set up an Infrastructure: After registering your business, you have to handle the administrative duties. Therefore, find a domain name, a website, and a logo to go with it. You also need to have your own email address as well as a business account. The accounting system should also be placed as well as the printing structure. Of course, you might need help, and for that, you must hire people to handle the task of manuscript editing, designing book covers, etc. In the beginning, if you don’t have an office, you can hire freelancers as well!
- Publishing: Of course, after setting up the place, you have to start publishing! The minute you have your first manuscript in hand, make sure that you give your heart and soul to it. Put all the resources in action and get it ready for print! This is also where you’ll find out whether or not your resources are worthy and professional, or you need to adjust and rehire.
- Marketing: The next and last step of publishing is all about marketing. You need to know who to distribute it to and how. Keep the process efficient otherwise, your writer will lose trust in you. Know the population you’re targeting and work on the actionable plan you created for the project.
Whether you want to market and publish a coursework writing service or a fully-fleshed novel, starting a publishing house is going to serve you well in the long run. Simply keep your head straight and your eyes on the prize.