These are both exciting and frightening times with the multitude of changes occurring within the publishing industry. New houses seem to pop up over night while brick and mortar book stores are closing across the country. Self-publishing is no longer the red-headed stepchild. We have options now that lean away from traditional publishing. But all these options can be confusing. So before dipping your toe in the waters, I would suggest formulating a clear set of goals.
Now these goals aren't set in stone. They will likely change over time. And they can be extremely personal. What is right for you might not be for me. My goals still include acquiring an agent and a NY contract and I have always planned on the slow and steady route to achieving this.
I think each of us have mentioned the importance of a back list. Most authors do. But until recently, I could not speak from personal experience. The second in my Watcher's series released mid-April and I did indeed see a spike in sales on the first book. Multiply that by five, ten, or twenty book and suddenly you are looking at a substantial check.
Many an author has toted the phrase I don't want to keep all my eggs in one basket to explain their reasons for subbing to multiple pubs. And if it is a small or relatively new house, I would totally agree. Because while this writing thing is something most of us are compelled to do, we are ultimately in it to make money. But I would argue that once you have attained an editor at one of the bigger houses, it is really in your best interest to develop that back list.