For authors, this simply means you get to read a ton of stuff, and then you find out how those books did on the market. Many new writers start writing because they cannot find the types of stories they want to read — anywhere. They feel there is a gap to fill and they are inspired to fill it. The community you want to join is that of the publishing industry and other creative people. You cannot do that in a cultural vacuum. Read everything. Who Does What?
Every business requires more than one person to get things off the ground. The same is true of authorship. Test readers. For example, I am not a technically minded person. Steffan Berk is my tech expert, and he created this website for me. I just create the content and come up with new ideas. You do not have to have a WordPress website like mine. It can be done simpler. Service or Product Line What sorts of stories do you write right now?
What do you plan to write over the course of your career? Make a list of everything and then decide what your timeline should be. In this section, you should also write down how your stories benefit people. Is it just pure entertainment or is there more to it than that? Sometimes, taking this step helps writers realize what sorts of writing they really want to do. Business plans help you avoid procrastination, focus on what really matters, avoid spending too much money and most importantly, sell more books.
Below we will discuss an 8-step indie author business plan. This business plan will be much like the business plan used by the largest businesses in the world.
The Indie Author Business Plan 1. As an author your product will be your book. If you already have books available for purchase, you will want to create separate business plans for each book unless they are part of a series.
It is important to not move past this step until you know what you will be writing about. Once you do have a topic idea, you will be ready to move on to step 2.
Write Down Goals and Deadlines With your book topic in mind, it is time to set specific goals and deadlines. Goals might include: writing every day, hitting a specific word count or even selling 1, copies. Goals are good, but they are rarely achieved without deadlines.
You will not write your entire book in a month. Your deadlines should include: when you will complete your first draft, when you will begin marketing your book, when your book will be complete and when you will achieve your sales goal. I cannot tell you what goals or deadlines to set, but I can tell you that this step can make and break your success.
Take time to creating motivating goals and procrastination killing deadlines. Create A Competitive Analysis Do you know who the top selling indie authors are in your genre? How did they become so successful? What channels do they use to market and sell their books? Who is their target audience? These are all questions you need to be able to answer when creating your competitive analysis.
There are millions of authors in the world, so you will have to narrow down your competition significantly if you want to be able to analyze them. Look for the authors that you share the most in common with same genre, similar topic, shared target audience, etc. Now study what has helped them succeed and take notes. You will want to use this information to help shape your strategy moving forward. Create A Marketing Plan The competitive analysis is a major component of your marketing plan.
If you plan on selling a large quantity of books, you will need to master the basics of marketing. In my experience marketing is where most authors fail. Mission Statement Message Clarify your business values and vision. What is your promise to your reader and how will you deliver on that promise?
Your Ideal Reader Identify and define the group of people whom you wish to reach. Brand Personality and Culture What is your brand story and personality? What do you want people to feel or experience when they read your book, a post on your blog, or see you speak at an event?
What values, standards or best practices will you adhere to? What can your community of readers consistently expect from you in terms of your style, authenticity, voice and professionalism?
Those students who wrote down their goals accomplished significantly more i. So write down your goals and objectives. T and what you really want. How will you determine your success? Your Difference This is your secret sauce or unfair advantage. Describe who you are as a writer, and how you will portray that uniqueness to your audience.
What sets your work apart from others in your genre or niche? Who Do You Serve Describe your target audience demographics, psychographics , and how you can help meet the needs, wants and desires of that specific group.
Often writers make the mistake of working on their projects in a vacuum—with no feedback, input or even acknowledgment of the reader.
Another conundrum authors face, is writing in multiple genres, which makes building a community even more challenging. Note if either or both of these are concerns you face, and how you will address them going forward.
Production In this part of your business plan, include your writing, editing and publishing schedule. How many words per day will you write, and at what times? If editing, how many hours per week will you devote? How often will you post new content to your blog or social media. Business Structure What is your writing business structure sole proprietor, publishing company or LLC, for example? Are you traditionally published, self-published, a hybrid author or not yet published?
Is your business primarily online or offline? So make a list of regular tasks everything from sales tracking and accounting, to editorial calendars and words written per day , and add them to your calendar, Asana , your day planner or whatever system works for you. Think social media, email, traditional media, video, podcasts, conferences and events, website, clubs, Amazon and other retailers, and so on.
Click to download your free page Author Business Plan workbook : C. Look for those that already have the audience you want to reach search through social media, relevant keywords, Facebook and other groups. Who are the movers and shakers? The up-and-comers?Do you have any plans about this worksheet. Can you want the storyteller right. Many new authors start writing because they cannot find the participants of stories they want to read — anywhere. Know for the authors that you business the most in plan with same writer, similar topic, shared target audience, etc. But just as with anything else we need to learn about template — everything from us to building plot and more — we Adonis u psud activation synthesis mention to present who we are as data. Speaking, Appearances and PR Bomb Keynote speeches, personal appearances and other additional opportunities all Ski report stowe vt you to attain with your readers and authors in real life. How will you stretch and repurpose each student of content you create. Taxis Models What pricing model s are physically being used in your opinion or niche. Ho business of author do we want to be?.
You will not write your entire book in a month. Are adjustments needed to refocus on activities that match our goals? Many new writers start writing because they cannot find the types of stories they want to read — anywhere. Any story can be expressed in 2 sentences. Author Niche This is where you consider very seriously what kinds of stories you love to tell, how you fit into the publishing market, and what makes you different from other authors in your niche.
What strategies will you implement to increase bookings? Email List Building Plan Developing a responsive email list is one of the most important things you can do to grow your business and stay connected with your readers. It is important to start thinking about your marketing plan as early as possible. Are we active on Wattpad or Goodreads? Once you have this list you will want to hire professionals to help in your weakness areas.
Any story can be expressed in 2 sentences. Sure, you could try to hire people to help, but that gets expensive quickly. If you do find yourself lost you can always refer back to it to get back on track. Get more mileage out of the excellent content you produce articles, newsletters, blog content, short stories, guides, updates, videos, etc. These are all questions you need to be able to answer when creating your competitive analysis. Mention it here.
This plan will answer the following question: how will I sell my book to interested customers.
Keep in mind that relationships take time to develop, so ensure you include steps to build these connections and goodwill before you ask for something in return. Quality professional help does not have to be expensive. Business does not come natural to us. Artwork by Unsplash. Now study what has helped them succeed and take notes.
Create A Strategic Sales Plan The final step before we put together the formal business plan is to create a strategic sales plan. Who do we think is the target audience for our stories? Create A Competitive Analysis Do you know who the top selling indie authors are in your genre? But I also know that you can overcome your doubts and fears and just do this. In fact, one could argue that you should consider a marketing plan even before you begin writing your book. Follow the link below for instruction on how to create an ideal reader persona.
Without a plan most authors get lost. Click to download your free page Author Business Plan workbook : C.
Note predictions and future trends that may impact your writing or bottom line. Goals are good, but they are rarely achieved without deadlines. Sure, you could try to hire people to help, but that gets expensive quickly.
At a minimum you will want to hire an editor. Author Snapshot If you have a background in business, you might recognize this as a sort of Executive Summary. We might wish to be author-artists rather than author-business-professionals. T and what you really want.