Business Plan

Myths About Being a Published Writer: Part 1

Today I thought I’d go over some common misconceptions about what it’s like being a published writer.  This is part of a “I wish I knew this when I was starting out” post.  Hopefully, what I had to learn the hard way will be something others can learn the easy way.  I’ll start off with part 1 and add more to it as I think of more to add.  :D

Myth: Once I make it big, I’ll be on easy street.

Fact: The truth is, sales fall and your next book might not be as big of a seller as the one that just made it big.

There’s no telling which book will sell better than another.  I’ve written books I thought were going to be popular because I received emails requesting them (seemed to have a big demand so they had great potential to be good sellers), but in the end, they didn’t sell as well as some of the ones I didn’t think would do well at all.  It’s like playing the lottery (in some ways) because you invest months to years writing the book, hoping your work will pay off.  You never know for sure what your next book will do.  All you can do is write more books to add to your odds of “winning”.

Myth: I can write whenever I feel like it and thrive as an author.

Fact: Writing is like any other job…and you need to do it even when you don’t feel like it.

This is not an easy job, and it’s not for the faint of heart.  Like any small business owner, you will have to deal with everything yourself.  (I’m talking specifically to self-published authors, not traditionally published ones.)  Everything is on your shoulders, and it’s a lot of responsibility if you’re going to treat it like a job.  You’re going to have to establish deadlines because if you don’t have deadlines, you will probably keep putting things on hold.  A business needs to produce a service or product on a consistent basis if it’ll have the chance to thriving.  You can’t sit and wait until you feel like writing.  Some days will feel like you’re pulling teeth just to get a few sentences down on the page.  If you have a job outside the home, you will find a way to do it.   The same has to be true for writing.  It has to be a priority, not something that happens when it’s convenient for you.

The exception to this is when an emergency comes up (ex. illness, death in the family, tornado blew your house down).  You can’t write when under tremendous stress like that, and if an emergency came up when you are working outside the home, you will take the time off of work to tend to that emergency.  Same is true with writing.  Treat it like an outside job and use common sense on when you need to take time off.  But don’t take time off just because “I’m bored” or “I don’t want to write today”.  If you’re not writing, then do something to add to your business: make a book cover, outline a future book, work on some blog posts, answer emails.  But make sure you aren’t using the extra stuff to get out of writing.  Writing is the key job you have.

Myth: Once I make good sales, all my financial woes are over.

Fact: Your financial woes will be over when you learn to manage your money effectively.

Sales have nothing to do with your financial well-being unless you are smart about how you’re handling your money.  You can sell a ton of books and be a mega-star in the self-publishing industry, but if you didn’t plan for real life, then you’ll be up a creek without a paddle.  People seem to assume that more money = less stress.  I think the opposite might be true.  With more money comes more taxes, more demands from family members to get stuff (and it’s hard to say no to your spouse when your spouse really, really, really wants something), and you’re tempted to get more things because suddenly the money is there.  It takes a lot of discipline to put aside money into the tax account so you can pay your quarterly vouchers, stay out of debt, build up an emergency fund, and save for future expenses.  This is all common sense stuff, but when you make sales, the temptation is there to spend the money as fast as it comes in.  You just can’t do it.

Myth: Everyone will love my book because it’s THAT good.

Fact: There will always (and I mean ALWAYS) be someone who hates your book.

It doesn’t matter what the reason is.  The fact of the matter is, you can’t please all the people all the time.  Tastes are too subjective and human nature is fickle.

Myth: I got 1-star reviews.  That means I suck as a writer.

Fact: Not necessarily.  

1-star reviews does not mean you suck as a writer.  It could mean the people reading your book don’t agree with something you put in your book.  Say your book features a smoker and the person reading your book hates cigarettes.  They probably won’t like your story because you have the smoker in your book. Or it could be some other factor.  (I got a complaint from a reader saying she’d never read one of my books that featured a smoker in it.  I got another complaint from someone who didn’t like the fact that one of my families I feature in some of my books have blond hair.)  So the reason could be minor.  It could also be huge.  Religious and political differences could be a reason that someone will hate your book.  Any time you write a story, you have to select characters and situations those characters are in, and there is bound to be something in there that someone will hate.  It’s part of the game.

Categories: Business Plan, General Writing, Psychology of Writing & Publishing, The Writer & Author, Writing as a Business

Planning For the Event Sales Fall Off Into Oblivion

I want to add a quick disclaimer that this might be one of the last posts I write for this blog.  It boils down to the struggle I’ve been having writing posts for the past six months.  I start a post, draw a blank, trash it, try to think of another way to say it, wait for inspiration to strike, and try again.  I think this might be a sign for me to move on.  Stephannie Beman (the other administrator of this blog) and I are currently discussing the possibility of handing over the blog to the other two contributors of this blog.  I’ll let you know more when we know where we’re going.

***

For today, though, I wanted to post on a topic that I’ve been seeing a lot on other blogs and in forums.  Basically, the sales that authors were once making seem to be falling.  I’m not going to discuss why sales are falling.  I want to discuss a strategy to place yourself in the best financial place you can be.

1. Get out of debt.

Yeah, I know.  Basic stuff.  But sales are so volatile that you can’t depend on a certain income on a monthly basis.  My sales are erratic.  Huge ups and downs.  You need to be able to cover your living expenses when you’re at your lowest point or have a spouse who makes the living in the family or have a job outside the home.  Relying on your sales to always go up is a bad idea.

2. Never pay for something you can’t afford.

Avoid vanity presses at all costs.  I can’t stress that one enough.  They price books so high, it’s nearly impossible to make anything.  And they make money from their authors, not from selling books.  That, in itself, is a red flag.

If you can’t afford it, don’t buy it.  But don’t publish the book until it’s ready.  Better to hold off and pay for the stuff you need to get your book together and polished up.  Don’t rush into publishing just to get the book out there.  So be patient (and yes, I know patience is hard).

3.  Learn how to do your own covers and formatting.

Yes, this takes time and commitment, but it’s worth it.  The more things you can do yourself, the less you’ll have to spend…unless you trade services.  For example, if someone makes your cover and you edit for them, then that’s a good trade.  The idea is that you do this without paying anything.  Just be aware that if you need a modification to your cover or interior file of your book, you’re in a better position if you can do it yourself than if you have to ask someone to modify it for you.

4.  Get creative on working with someone to edit and proofread your book.

Contrary to popular belief, you don’t have to find an editing service to edit your book.  There are English students in colleges, other authors, readers with background in editing, critique groups, and other people who are skilled in editing.  Once again, think trade here.  Offer something they need in return for the edit and/or proofread.

5.  Then take the time to go over your book yourself.

As good as it is to have someone else look over your book, you need to do the final read through.  I like to do the first round of edits myself while reading the book on my laptop.  I used to do the first read through with a paperback copy (via CreateSpace) then on the Kindle (by downloading it on there through Calibre).  Now I use the laptop to go through it once.  Then I send it out to a couple of people.  After they are done, I fix the story based on what they said.  Then I use my text to speech feature on my Kindle to listen to the book.  I go through it slowly, a little at a time so my mind won’t wander.  I don’t think this should be rushed.  I like to pace myself at two chapters a day, but your mileage will vary depending on the length of your book and chapters.

6.  Upload the book yourself to the places you want your book sold at.

Don’t pay someone else to do this.  This part of the process is easy enough where you shouldn’t even have to trade services for it.  If you need another author to walk you through the process, fine.  Then do that.  But do it yourself.

7.  Don’t pay for advertising unless you can afford it.

Ads aren’t worth buying if you need to buy food instead.  While I’ve heard of some ads going well, most of them don’t bring enough benefit to make paying for them worth it.  I’d err on the side of doing whatever I can for free.  Food, lodging, clothes, utilities come first.  If you are strapped for a promotional tool, I’d suggest making a book free and hoping enough people will like it to buy your other books.  (And yes, I mean permanently put it at free.)  There’s no better way of promoting your stories than to let someone read a complete sample of your work.

8.  Don’t rely on one place to make your sales.

Where most of your books are sold might vary.  They might not.  But every little bit counts.  They say not to invest your money in one place but to diversify, and the same is true for books.  I’ve had months were I sold best at Amazon.  Then I’ve had months where I sold best at B&N.  Smashwords and its channels make up a nice percentage of total sales, too.  Just like sales go up and down, they can go up and down in different places.

9.  Write more books.

Some books will sell and some won’t.  Some will sell right away and others take longer to gain momentum.  There’s no rhyme or reason to this.  That’s why having more out there helps.  Just as you don’t want to rely on one place for all your income, you don’t want to rely one book to make all your income.

10. Set aside money for taxes.

Estimate higher than you believe you’ll have to pay.  I was told by my tax representative that I only had to worry about a certain tax bracket when I filed my taxes last year.  Well, this year came and my tax bracket changed, and with that change came a huge bill I have to pay the government before April 15.  If you don’t set aside money for such an event, you’re going to have to find a way to scramble fast to come up with the amount you have to pay.  (In my case, our truck is going.  Thank God that truck is paid for.)  Tax representatives can give you wrong information that you end up paying for later, so err on the side of caution and pretend you’ll owe a heck of a lot more than you were told you were.

11.  In addition to saving aside money for taxes, have a huge emergency fund.

I recommend six months of living expenses, especially when you’re an author and looking at an income that is like a wild roller coaster.  When things fluctuate, it helps to have that emergency fund to buffer you.  At any time, you might have the safety net pulled out from under you.  Your spouse might lose their job.  Medical expenses might pop up.  Having too much money in the emergency fund is way better than not having enough.

12. Plan on the event that you will have to get another job.

This is for those writers who are making a living at writing.  While it’s great to make money doing what you love, this might not last.  I realize there is no secure job out there, so this is a good rule of thumb for anyone.  If you end up having to get another job, I think the transition will be easier if you mentally prepare for the possibility.  You need to be flexible and willing to adapt to whatever changes happen.

***

If you have a nice emergency fund and no debt, you’ll be in a much better position, which is why I recommend getting out of debt and building up that emergency fund as fast as possible.  I still have a mortgage to pay off.  I’d recommend getting a small emergency fund to start, paying off the credit card bills, car loans, and other debt first.  Also, put aside that tax money in an account that is for nothing but paying taxes.  Then build up the emergency fund to six months of expenses.  Then I’d focus on paying off the mortgage.  I’d like to say I have all these steps taken care of, but I don’t.  This post is primarily directed at me.

You can’t control book sales.  But you can control what you do with the money you get and place yourself in the best financial position possible.

Categories: Business Plan, Psychology of Writing & Publishing, The Writer & Author, Writing as a Business | Tags:

Self-Publishing Isn’t The Easy Way Out

Nothing about writing and publishing is easy, if your aim is to be professional.  The key here is professional.  There are no shortcuts if you want to be taken seriously.  Traditional publishing isn’t the easy way out.  There’s the vetting process, the editing, and the marketing.  There might not be a vetting process for self-publishing, and God willing, there never will be.  The beauty of self-publishing has been the freedom to write the story as it’s meant to be written.  It’s why I went into this business.  There’s also freedom to write only for yourself.  This notion that we only have to write with the idea of selling books is ridiculous.  If you write for a very small niche, a group of family or friends, or even yourself, what’s the harm in it?  Okay.  I can hear someone thinking, “Oh my gosh, they won’t worry about the quality of their product, and that will tarnish the reputation of every single self-published author out there.”  Keep in mind, the people writing for a small group are not going to worry about marketing to find the wider audience, so very few people will even know those books exist.  So don’t fret over those type of books.

What I’m focusing on is self-published authors who want to be professionals.   They are treating their writing like a business.  And in a business setting, there is never an easy way out if  you’re hoping to make a profit.  Businesses need a profit to continue.  This is the mindset of an entrepreneur who happens to be in the business of writing and self-publishing their books.  If you’re going into self-publishing because you think it’s easy money, then you’re in the wrong business.

You have things that will work against you.  Amazon changes its algorithms, some people hate your book and are vocal about it, sales fluctuate (sometimes with no rhyme or reason), you’ll find some authors are your enemies, editors miss stuff so you can still find errors post-publication, and there is no magical way to market your book.

There is some speculation on some forums that the golden age of self-publishing is gone.  From here, it’s all downhill.  Is that true?  I don’t know.  It’s speculation at this point.  But one thing that is certain is that self-publishing isn’t easy.  There is no one-size fits all method in writing and marketing that will work for everyone.  The only thing you can do is your best.  You don’t have to be someone else’s idea of “best” because their “best” might actually suck.  I’ve gotten some horrible advice from well-meaning authors over the years, and if I would have followed their advice, I would’ve failed in my business.  (One example: a critique group that wiped out my author voice to the point where my writing was stale–something one of my readers noticed early on and warned me about.  Lesson learned: aim to please your target audience, not others.    If you look for a critique group, it must be one where the authors appreciate and nurture your voice.)

So do your best.  Write the best story you can and find the right people (a good editor, good beta readers, good proofers) to help you polish it up.  Then pick two or three networking strategies you like most.  The key is that you enjoy them enough to want to stick with them because building a fanbase takes time.  You do it one reader at a time.  Some of us will go slower than others in reaching new people.  I understand how it is to watch other authors zoom by me, so I totally get the feeling of “I’m not as good as so-and-so.” The only thing you can do is focus on your own progress.  Easier said than done, I know, but it’s crucial if you’re going to have the creative energy to keep writing more books.  This is when going off-line for a couple of weeks or staying off some forums can help a lot.  Sometimes you have to get away from it all in order to get back to that spark of excitement that we all felt when we started writing our books.

It’s true that marketing isn’t easy.  Traditionally published authors face the same problem.  They might have a slight boost from a publisher, but when they’re starting out, they have to prove themselves to their publishers to get the additional support the publishers are likely to use to push their name.  So for the unknown author (regardless of publishing method), there is always that obstacle of “no one knows who I am” to overcome.

Which is why I suggest picking two or three marketing methods to focus on.  This can be blogging, Facebook, Twitter, Pinterest, Google +, LinkedIn, forums, etc.  I think you can sign up for a multitude of these just to be out there (and to prevent some jerk from pretending to be you on one of those sites–this happened to a Harlequin author on Facebook who had to get her own Facebook page to get Facebook to remove the imposter).   When I say focus, I mean dedicate your marketing efforts on those venues.  You don’t have to pitch your book all the time.  Just be personable.  Engage with others.  Have fun with it.   Don’t think in terms of X number of sales.  Think of it as mingling with others and having a good time.  If you’re having fun, it won’t be a chore.  Then you will slowly build your fanbase, little by little, one reader at a time.  And, what’s also awesome, is that you’ll end up with a few author friends along the way.  :D

As for expenses, you do want to try to keep them low.  That’s why we have posts giving you a step-by-step process on formatting your books and making covers.  The aim is to have a professional looking book at minimal cost.  There’s no sense in putting more money into something you won’t get back.  With editors, if you find a good one, that would be worth the investment if you can’t barter.  You also don’t need to fork over a lot on marketing.  One free book could work more in your favor than a lot of ads or other marketing efforts, but I wouldn’t put anything at free until I had a few other books already.  It is still my opinion that the best proof you have that your books are worth reading is by letting people read one of them.   But if you hate the idea of giving away a book for free, then by all means, don’t do it.  You need to do what works for you.

If you don’t feel like doing all the work that self-publishing requires, then you probably should pick another business to go into because it’s harder to do this than a lot of authors will tell you.  And if you don’t mind doing all the work, then I think it’s one of the most worthwhile professions a person can have.  If you love it, it’ll be worth it.  But then, one could say that about any job.  :D

Categories: Business Plan, Marketing & Promoting, Psychology of Writing & Publishing, Self-Publishing, Social Networking, The Writer & Author, Writing as a Business

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