The publishing industry has gone through a massive change in the last few decades. With technology taking over the majority of the part, creativity still continues to grow. While people every day are trying out something different in the industry, establishing a successful publishing business is no more a cakewalk.
To start a successful publishing business, there are several steps involved. You have to execute each step with precision, from idea to registration to publication, each step will play a major role in your business in the long run.
10 Steps to Start A Publishing Business
To make it easy for you, we have classified each step you need to follow to start a successful publishing business.
1. Working On Your Idea
While you are set to start your own publishing business, you definitely have some ideas you want to start with. Remember that a clear vision is very important in any business, and the publishing business is no different. Your whole business will grow on your idea. Brainstorming different aspects before you start could help you to chalk out the things you want to do and what not.
2. Registering Your Business
To complete the legal procedure, you have to register your business and your name. Registering as a company will help you with any legal problems. You will have to acquire a couple of licenses as well, which may vary from state to state.
Make sure you have explored all the options available in your country. For example, if you are from the United States, forming an LLC will give some added benefits. However, it is always advised to take legal advice from competent professionals while deciding on compliance issues.
3. Deciding Your Business Type
Publishing is broadly divided into five categories. Your business idea should match with any of the below-listed categories, and you can start your own publishing business accordingly.
Once you have decided depending on what you want to do, now it’s finally time to plan your business according to your publishing category.
4. Business Plan
First, you need to work on your business plan. This will mainly involve the targets you want to achieve, the goals, your vision, the market you want to operate in, and the target audience. This will help you to make a business plan according to your parameters. The plan will set the flow for your business, and you will have a clear set of defined goals you want to achieve in the meantime.
5. Deciding Your Content
As a publisher, you now need to decide the type of content you want to publish for different publications. This will majorly involve the type of audience you want to reach and what you want people to read and learn about. Deciding on the content will help you to mark the potential readers and the target market. This will higher your chances of success with a set of defined markets and readers.
6. Naming Your Publishing Business
The name will play an important role. Do remember that the name is going to be your sign of existence. Being a publishing company, try to go for something simple yet unique. It should not be very hard to pronounce or tough for people to understand. The name should be easily marketable and also memorable. Once you fix a name, do remember to buy a domain straightaway.
7. Online Presence
As a publishing company, make sure that you are available on both offline and online platforms. Online presence is very important for you. This will help your business to gain the right exposure and customers will have an idea of your wide presence. If possible, sign up with any digital marketing agency which will help you to bring orders from the internet with online visibility.
8. Getting An ISBN Number For Your Publishing Company
The ISBN International Standard Book Number is compulsory for any publishing firm. It’s basically a barcode that has to be used legally to sell a published material. In the United States, you may spend around $135 to $150 for an ISBN. Currently, the ISBN comes in a 13-digit format, where after the first three digits, it is broken up into four sets of numbers.
9. Distribution & Printing
The distribution plan will differ according to what you want to publish. For each, you have to work differently and on a different plan altogether.
Book: To publish a book, you will have to get a separate contract, proofread, work on promotion, and city-wise distribution.
Magazine: For a magazine, you have to choose a theme, concept, find advertisers, who will contribute, printing, and area-wise distribution.
Journal: Submission policies, logo, specific distribution, who will contribute, and printing.
Another important part is to decide on the volume you want to print, and how often you plan to print. This will again differ on what you plan to publish.
10. Promoting Your Publishing Business
There are several publishing firms operating in the industry. While each specializes in some of the respective fields, some run several categories of prints. You have to promote your publishing company to potential customers. Digital advertising will help you to reach out to a target audience, journal, and book publishing conventions will give industry exposure.
Marketing is an integral part of the publishing business. If followed in the right manner, the guide will help you to set up a successful publishing company in a short span of time.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.