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Vanity/self-publishing is a dead end for fiction writers and ends your hope of being considered seriously as a writer. It is a step only to be taken after all hope has failed of being legitimately published over many years...not worth giving up your whole future for the (relaitvely few) libraries or schools that can't tell the difference between vanity/self/print-on-demand and "real" books -- I wonder if there are any libraries at all that don't know the difference. Even if you have a "front" publishing company, it pretty much gives the game away if you're published by commonwealth, xlibris, etc. If your fiction is worthwhile, I would be very, very hesitant to even consider this route because it closes too many doors to future legitimate publication.
On the other hand, if you are unwilling to make the effort to network in the publishing industry, attend the right workshops or programs, etc. then fine -- publishers no longer consider completely unsolicited work from unknowns so people who can't or don't network effectively will not be published. In that case, self-publishing is the only way to put your book between covers but it still won't mean that your efforts will attract wide readership. Most successful vanity publishing has to at least pretend to be nonfiction even when it's baldly fiction, ala The Celestine Prophecy (spelling? I might be off on that title a bit but you know what I mean). There you're getting into the realm of fibbing but maybe all good storytelling is fibbing, who knows.
It is a difficult issue. Years ago, I wrote for some of the SF magazines but the paying market is not big enough any more and I don't have ego invested in it so won't write for nothing or a loss. Fiction has become a drug on the market so I turned my attention to other things.
But there are always exceptions to prove the rule. So don't be quick to slam doors by self-publishing.
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