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The question "Should you sign with a legitimate book publisher or self-publish?" is a loaded question. From the very beginning it implies that self-publishing isn't legitimate. Unfortunately one of the largest problems with self-publishing is the stigma. Which means that while many people just don't have the aptitude or talent to self-publish successfully, those that do often don't do it for fear of what their writing peers will think.

Something important to be considered in this question is the fact that big commercial publishing is a fairly recent invention to the history of publishing. A few hundred years ago most published books were published by the author and author's family, perhaps with the help of a patron of the arts (a kind generous soul with lots of money to spend to support writers and other artists. Now these types of people are busy saving the rain forests and the whales, so writers don't often get a patron anymore.)

Ask yourself: All the amazing writers who came before big commercial publishing, some of whose names we have idolized and strive to in some way emulate, was their status as a 'published author' illigitimate? Mark Twain, Walt Whitman, Edgar Allan Poe... these are only a few of the names of brilliant and remembered authors who have self-published at least a portion of their work.

In more recent times, folks like Stephen King have ventured into self-publishing for some projects. I'm willing to bet King doesn't wring his hands worrying that he didn't have a "legitimate publisher" for the ebook he published serially and released on his website. Turning good writing into a commercial commodity doesn't increase it's value or legitimacy.

Thinking in terms of "legitimate" for the method of publishing is self-defeating. What should matter is not how a book got to market, but the quality of that book and whether or not it finds its audience. If you're considering publishing with a "legitimate book publisher" instead of self-publishing, the only benefit remaining may be the perceived legitimacy. (And isn't that it's own form of vanity? If you make a publishing decision that isn't the best business or life decision for your personal situation but is based on what other people are going to think of you, how is that any less vain than what others have termed "vanity publishing?")

Most mainstream publishers don't heavily market the books they publish to end readers. Their marketing efforts are directed at bookstore buyers and other distributors.

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