If you're thinking of writing the Great American Novel, you probably have dreams of best-selling authorship. Unfortunately, if you send your manuscript to a major publisher, it may languish on the "slush pile," which is what publishers call those manuscripts submitted by new and/or unknown authors without an approved query. Occasionally, a best-seller will come from this bottomless pit, but if you want your manuscript to be read, you should get a literary agent to submit it for you.
An agent charges a fee equal to a small percentage of the royalties from sales of your book. It's his job to make sure your manuscript finds its way into the hands of the editors and publishers who are most likely to publish your book successfully. Agents also make sure that you get the best book deal possible, so if you're a first-time author, having an agent is an excellent idea.
An "advance" is the sum that a publisher pays the author up front, prior to publication. It's based on the projected number of sales the publisher expects the book to make within the first couple of years of publication. This amount is deducted from the royalties that you are entitled to receive from each book sale. Once the advance has been "paid off," you will begin receiving full royalties on subsequent book sales. Book advances do not have to be repaid to the publisher if book sales do not meet the publisher's expectations.
You can publish your book yourself if you cannot find a publisher who is willing to give your work a chance. This can be an expensive way to go, however, and you will need to do plenty of research to make sure you are getting the best quality for your budget. You will then need to contract with booksellers to display and sell your book. Publish-on-demand companies are also an option, and this means that each copy of your book is printed as someone orders it. Sometimes a self-published author will have her book picked up by a publishing house after its initial successful publication.
Once your book has been accepted by a publisher, you go through the editing and design phases, in which you work with an editor to ensure that your manuscript is completely polished and ready for publication. The design phase involves choosing an eye-catching book cover design to grab the consumer's attention as well as any art (photos and/or graphics) needed within the book's pages. Finally, the book is typeset, printed and ready for distribution.
Once the book has been published, the publisher's publicist makes every effort to get as many interviews booked for the author as possible during the first couple of weeks of publication. The author can go on a book tour, signing copies of his book at local and chain bookstores, and speaking to various groups about his book, particularly if it is a non-fiction book on a subject in which the author is an expert.
Anyone can publish and sell an e-book, and e-books are continuing to increase in popularity each year. Not only are no printing costs involved, but e-books can be downloaded onto portable players, so accessibility is widespread. One disadvantage of publishing an e-book is the difficulty involved with ensuring that your work isn't stolen and passed around. However, this can also be an advantage if your e-book becomes so popular that demand for a print version increases. Check the link under the "Resources" section for a list of e-book publishers.