Over the past years, there has been a rising sentiment about the decline of the traditional publishing industry, with some saying it’s “doomed and slowly dying.” While this is bad news for conventional publishers, it can actually be beneficial for individuals looking to get into publishing.
The decrease has opened up plenty of new ways for entrepreneurs willing to think outside the box and approach the publishing game in innovative ways. In this article, the Hands Off Publishing team will delve into those ways and clarify how to take advantage of the shift in the industry.
1. Turn To Self-Publishing and/or Online Publishing
As the modern publishing industry evolves, traditional models face intense competition from online self-publishing services. In fact, the number of self-published books has increased by 264% in the last five years, according to WordsRated. This has made it easier for individuals to enter the market without approval from a traditional publisher. So, authors who haven’t had a chance to be published so far have that chance now and should take advantage of it.
2. Gain Control and Flexibility
Self-publishing allows for flexibility and control you couldn’t maintain with traditional publishers. Independent publishers can control everything from pricing to distribution—set their own prices, choose distribution channels, and oversee the creative process. This way, there’s also the potential for greater profits and a more sustainable business model.
3. Take Advantage of New Technology
From artificial intelligence to e-books, technology has had a massive impact on the publishing industry and all of its fields. These advancements make the complete process faster and more convenient for independent authors and publishers who decide to take advantage of them. For instance, AI can assist you during the writing and editing processes, while e-books let you reach your target readers anywhere in the world.
So, even though the publishing industry is changing and facing challenges, that’s not necessarily a disaster. It allows writers to seize control of their own careers and reach audiences in ways that used to be unimaginable once.
Whether you’re a seasoned author or starting, it’s a marvelous time to be in the writing world. Embrace the changes and make the most of them—with the proper tools and a bit of hard work, you can fulfill your dreams and reach your full potential.