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Setting Up a Publishing Company:The Essentials

Steps towards setting up a publishing company

Creative writing is a hobby for some while it is major business for others. Regardless, the fact is that creative writing has been around for virtually as long as we all can remember. With today’s technology however, the industry is currently at its peak, thanks to the application of digitization to published works. E-books are slowly but surely becoming the norm for viewing and delivering such media although some printed books still continue to be produced.

If you are interested in starting a publishing company either to publish your own work or the work of others, there are a few things you need to keep in mind. There are a number of steps involved but if successful, not only will you be publishing your work or the work of other talented authors but you will be bringing their stories to the world.

As stated above, the process involves a number of steps and aside from that, like starting up any other company, it involves much dedication, time and patience if it is to be successful.

The Decision Making Phase - Finding out the why

This is the first and most important step but in reality, it is the step that is most commonly overlooked by many. The decision making phase is not about deciding whether or not you want to start a publishing company. It is deciding why you want to start the company. You should have a valid reason for wanting to start a publishing company. Your reason should be worth the risks.

I.    What Kind of Company you want to set up

In the UK as well as other places in the world, there are a number of types of companies you can set up. They vary in that they each have a different way of conducting operations. Here in the UK the most common types of company that you can start are listed below. You need to determine which type your publishing company will be because everything else that you do will be determine on the type of company that you will be setting up.
•    Public Limited Company (PLC)
•    Unlimited Company (UNLTD)
•    Privately Company Limited by shares (LTD)
•    Royal Charter
•    Industrial and Provident Society (IPS)
•    Community Interest Company
•    Limited Liability Company (LLC)
•    Company Limited by Guarantee

II.    Do some research and consulting

If you have never started a publishing company or any other type of company before, you will not only need to conduct your own research but you may also need to get tips and advice from other. You need to find sources from which you can obtain information on how to setup your publishing company. For example, you can sign up for professional courses or you can consult a home business guide. You can also consult persons who have been in the field for a long time and are willing to offer you tips and advice.

III.    Decide on a name

The name you choose can prove an important factor in the success of the company. A lot of people tend to be picky about names so it shouldn’t be too shallow or too complicated and should be easy enough to remember and associate with.

IV.    Create a business plan

In this phase, having taken into account the above steps, you go ahead and craft your plan for the company. It should basically include your target market, steps you’ll take to reach them, how the finances will be handled, how you’ll run the day to day operations, how you’ll maintain intellectual security by putting up means to protect business data as well as how to get a roster of authors to sign onto your company.

V.    Register your Company

With the above step handled, you can go on to register your company which will now make its existence official and you can now start putting your plans to action.

VI.    Purchase ISBNs under your new company

ISBNs are a unique identifier for every book in publication. It is a fairly easy process and it simplifies the process of getting a book out into the market as soon as it is ready.

VII.    Register a web domain for your company

We mentioned earlier how much technology has grown into virtually everything. Having a mature web presence indicates a high level of professionalism and dedication towards your targets as it makes them easier to get more information about the company faster. It also helps in creating an aggressive marketing strategy for what your company as to offer.

VIII.    Get to publishing!

It won’t be easy taking off but like mentioned earlier, time, persistence and patience is key towards growing your company. Follow your plans, ensure you have great authors that rightly target your niche, keep your accounts in order and all will be well.

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