Independent Publishers
A highly recommended method of publishing today is to seek out smaller, independent publishing companies, many of which do not even require an agent (although it would still be beneficial to have one). Many offer open submission periods and book contests, which are very competitive.1 Once your book gets selected, however, it will receive much more attention than it would at a larger press, and you may have more of a say in the design and editing process.1
This method is becoming increasingly popular with serious authors who may write books that are more complicated than the general population cares to read, but who still have much to offer the world in the way of talent. Small publishing companies (of which thousands exist) do not have as much at stake in terms of competition since they know that whatever profits they make will be comparatively small and will happen over the long-term.3 Because of this, they can take risks and choose works of art over pop literature. They are also a good option for those who write for niche audiences since there are many small publishers that specialize in certain subjects and already have a little networking and marketing in place; the book may not even have to make its way to bookstores in these cases.2
This brings me to the downside of smaller publishers: they can sometimes have difficulties getting their books on shelves, being unable to market books to retailers in the same way that the larger publishers are able to.2 In fact, the smaller publishers expect you to do much of the legwork with regards to pushing your book.1 Some smaller publishers are able to contract with larger publishers or with distributors to get their books onto shelves at major stores; but, if they are not big enough to be able to do this, the books may not find their way to the shelves at all, or they may have to be sold only at smaller, independent bookstores.2
An advantage that may overshadow this drawback, however, is that the smaller publishers not only give your book more attention immediately, but they also stick with it for a much longer period of time, rather than dropping it after a few months if it does not sell well, as the “Big Five” often do.2 Coupled with the larger creative and intellectual license you would enjoy, this is a fantastic reason to choose independent companies when deciding to publish.