In the 1990s, I ran a small publishing company. I had to find the authors to publish, arrange for editing, hire the designer, and take care of all the production details -- including arranging for a print run and warehousing of the printed books. This was before the age of ebooks. My biggest challenge was distribution: If the book didn't appear on bookstore bookshelves, it was more than a guaranteed money loser -- it was a sure disaster.
In the days before ebooks, it was a delicate balancing act to determine the correct print run and the retail price of a book. Too small of a print run and too low of a price guaranteed a loss even if every book was sold at 100% retail. Too large of a print run and/or too high a retail price also was problematic.
The age of ebooks has changed the dynamics. I wish I were running that small publishing company today because ebooks and the Internet have solved or reduced many of the problems of print publishing, especially those of finding books worthy of being published and distribution. But the eBook Age has changed an even more important dynamic because it has made self-publishing by indie authors viable.
Yet I wonder if these indie authors are really doing the best that they can.
All of the jobs that the traditional publisher performed in the 1970s and 1980s now need to be done by the indie author. Some do the jobs very well; others seem to miss the boat.
One of the first lessons that every indie author needs to learn is that they must always be selling their writing. You can't just write and hope someone else will pick up the sales ball. I know that seems obvious, but it is the scope of what constitutes selling that I think gets missed. Even such simple things as how the ebook is designed is selling. Choosing the right typeface and font size is selling. Providing metadata for running heads for those devices that will display a running head is selling. Participation in forums of readers and constantly mentioning your writing is selling. A well-done cover design is selling.
For many people, selling themselves is the hardest thing to do in the world. It is why in law firms the "rainmakers" are considered more valuable than any other attorney in the firm; it is the rainmakers who bring in the business by selling themselves and the firm. The indie author has to be his or her own rainmaker.
The point I am trying to make, and probably not well, is that it is not enough to write a fabulous story; the indie author must constantly sell it to get people to read it and talk about it, and the selling can't be just at their own website. In addition, indie authors need to learn the lesson that everything they do should be geared toward selling their writing.
The other day I complained about authors who write series but provide no synopsis of what happened in previous books in the series. This is a failure of not thinking through who one's beta readers are. If you use as beta readers only people already familiar with your work, you lose the perspective of new readers who stumble on your books and choose the newest release rather than the oldest release to read. Authors should not assume that even devoted fans will remember plot details that are essential to understanding the current book in a series but which occurred in prior books. A good publisher (even a good editor) would/should identify this weakness; consequently, the indie author needs to be able to step back and identify it as well.
Here's something else: I am a fan of several indie authors and I look forward to reading the next book they write. But my failing is that I do not keep a list of these authors and do a search at B&N or Smashwords to see if they have released a new book. Their failing as an indie author is not finding a way to get my e-mail address and not only telling me that they have released a new ebook and here are the B&N/Smashwords link(s), but not sending me an e-mail every three to four months to tell me that they are still working on their next book and hope to have it available by x date.
If I had to recommend one particularly good source that every indie author should emulate, it is Baen Publishing. Not its website, but its monthly mailing. Every month I receive an e-mail telling me the progress its authors are making on forthcoming books. I am told when a book is quarter done, half done, in review copy, and published, among other steps. By the time a book is published, I have received at least a half-dozen e-mails that mention the book, thus keeping the author and the book in front of me -- that is, selling the author and the book to me.
I have read a good number of indie-authored ebooks that should be selling significantly more copies than are being sold. Certainly, I think that every indie author whose ebooks I have reviewed and rated 5 or 5+ stars should be selling thousands more copies than they are. That they are not indicates to me that they are exceptional writers who feel uncomfortable creating a business plan for selling their ebooks. Thus, the answer to my question is, "No, indie authors are not doing the best they can!"