Public perception may say that publishing has seen already seen its best years. Depending on your perspective, this might not be true. A dip in interest from the masses means that you can carve out your own niche and be profitable. If you want to start your own publishing company, keep these three concepts in mind.
1. Don’t Neglect the Physical Assets
Although a lot of media these days is consumed in a digital format, there is still a demand for printed materials. You can print other things besides books such as brochures and signs. Many folks view books as collector’s items, so they would rather have a physical copy than a digital one. If you possess your own printing press, you need to make sure to maintain it. You can use an anilox roll cleaner to keep it in a smooth, operating shape.
2. Don’t Skip the Business Portion
Many people want to go into this field because they love the creative element of it. They picture themselves writing and editing the next “Harry Potter” while neglecting the financial aspects of the company. Don’t be like them. Strategize how you will generate income while also paying taxes. When you start to organize, you can form an LLC or a sole proprietorship, for example. Ensure you register an Employer Identification Number because the IRS requires it.
3. Don’t Gloss Over Content
Now that you have the business part taken care of, you can finally focus on the parts that may be more fun for you. Don’t publish just for the sake of publishing. As you should know by now, putting out a product can be quite expensive. If you are starting small, you can specialize in fiction or nonfiction. Here are some other genres to consider:
Form a team of editors to decide on projects rather than rely on a single person. One point of view may miss important details. Produce merchandise that you can be proud of.
While striking out on your own may pose many challenges, it also offers a lot of rewards. Take your time and make the right decision for yourself.