For you who love books, you must be interested to work in a publishing corporation. But why don’t you run it yourself? All you need is only to know how to start a publishing business. And you are lucky because here are the steps.
1. Define Your Segmentation
To run a publishing business, you are not prohibited to manage some several types of books at once. But for the very first step, you should focus. Define your type and genre at least in outline.
Some option you can choose is a textbook, motivational or self-development book, fiction, comic, or any other. You also need to know your segmentation. It is like religious things, for children, focusing on social justice, etc.
The easier way to decide what to choose is by asking yourself. What do you want to develop? Or do you have some kind of book you like the most? Or the other similar questions. It will help you to set your steps.
Don’t forget to consider the market situation too. It is good to be an idealist. But being realistic will help your business to develop more rapidly.
2. Learn the Ins and Outs of Publishing
Publishing books means you need to guarantee the writers that they have the copyright. You have to learn about legal provisions and publishing contracts. It includes ISBN (International Standard Book Number) and publishing organization. It aims to avoid any misunderstanding when your business has run.
Moreover, by knowing the ins and outs of publishing, you can also estimate the budget to prepare. Always remember that the little things sometimes could be important.
Is it seemed hard to do? Maybe yes, but just take it easy. You can still learn it while starting the business. Don’t worry if you feel like it is unfamiliar. Just like a quote said, “practice makes perfect”, sooner or later you will get used to it.
3. Form a Legal Entity
Why do you have to form a legal entity? The answer is to make sure that your publishing business has legal power. It is about building public trust. Then, it will be easier and safer to develop your business if it is protected by law.
Those who are selective will be careful to avoid unwanted things, such as fraud. So, both partners and writers will be surer to join if your publishing business is trusted.
Don’t forget to give a name to your corporation. It is good to make a name card too. Clearing up tax matters is also important.
4. Select Your Partners
You must know that a publishing business needs some components as partners. They include editor, proofreader, layout, marketer and printing house. Selecting the partners is one of the substantial steps on how to start a publishing business.
Choose the people that have experience in their respective fields. But you also need to pay attention to their price. Think if their bid is worth the competence, and, of course with your finance. Considering your budget is also an important thing to keep your business stable.
5. Learn About Marketing
If you don’t find the marketing pattern yet, you can apply the ‘printing on-demand’ system. Print only 100 copies for the first promotion. Then, look out how the public responds it.
You can also continue this system for the next projects. Promote the books online and only print for them who has ordered. But this only applies to the small printing press. To cooperate with a large printing house, you have to print the book about 3000 copies for the minimum.
It is okay too if you decide to not apply the ‘printing on demand’. You print the books first before selling it then. For marketing, you can negotiate with some book store. Don’t forget to keep monitoring the sale of books you have published.
Those are 5 steps you can do on how to start a publishing business. Nothing is difficult if you are willing to learn. And the most important, just start it right now and achieve your success.