From Author to Entrepreneur
From Author to Entrepreneur!
News Flash!!! Do you have a book? Would you like to sell your book? Well then you have a business and its selling your book. If you’re selling your book then that makes you a sales person. Your brand is you and your product is your book! Do you have a business plan? Do you know who your target market is? What about a marketing strategy??? To continue reading please click Read More below.
What’s your break-even point?If you don’t have answers to these questions you probably will not sell many books. You might be an author, unfortunately and fortunately you are responsible for everything else once you have written your book. Regardless if you have a publisher or not!
There are two main questions that you will ask yourself to simplify becoming a business person:
1. If I pay for ABC how many books do I need to sell to break even?
2. If I do XYZ how many books will I sell and what will be my profit?
Author Business Questions
If you’re going to succeed at selling books you need to become a business person. The following is a good starting point and some questions to make sure you answer.
Do you have a business plan? If not – get one.
What is your burn rate?
Whats your break-even point?
Who is your target market?
How will you find your target market?
What costs will you incur? Marketing, design, editing, formatting, website development, etc.
What are your price points? Will you have a coupon or promo code?
How will you accept money for your product?
Are you going to operate as a corporation, sole proprietorship – do you know?
What are your costs going to be?
Authorship and other Business Ventures
With regards to money and sales plan on the following: Whatever you think your costs and expenses will double them. Double the length of time for projected sales, i.e. if you plan on selling 100 books in your first month – double it to two months!
What about other forms of income, unless being an author is a side job or hobby. If you’re a good writer maybe you could ghost write, if you’re a professional on the topic of your book how about public speaking, if you’re good at editing how about editing other books. The list goes on and on.
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