Joe Konrath is a huge proponent of self publishing. He has predicted the last days of traditional publishing (or legacy publishing as he calls it). He sees no reason for authors to continue along the traditional publishing route. He claims we don't need publishers anymore, especially with such programmes as Kindle Direct Publishing (KDP) at Amazon.
Today on his website he has posted a royalty statement for the last three weeks (!?!) showing that he has made $100,000 in royalties. He has many titles but still there is no way you can't find that impressive. I doubt most big name authors make that quarterly let alone in three weeks.
Over the holiday I did a bit of research about KDP for my column. I think the one thing that bothers me is the 30% taken by the US Tax Department. Apparently Botswana has no tax treaty with America. But I guess if you compare that to 80 + % publishers take it's not so bad.
I have a few books I think might work at KDP, I'm really thinking about giving it a try. Of course I'm still held back by the stigma of self publishing. I know it's crazy because even mega-writers like Stephen King and JK Rowling are self publishing their own ebooks.
Maybe the frustration of having 16 (yes 16, I counted today) published books and barely making a liveable wage might be enough to push me to a new way of thinking.
What do you think?