Take Charge of Your Author Business: 5 Aspects to Consider
By Guest | October 5, 2014 |
photo by Éole Wind
We’re thrilled to have Joanna Penn back with us today. She’s an author, speaker, and entrepreneur, and was voted one of the Guardian UK Top 100 creative professionals 2013. Her latest book, Business for Authors: How to be an Author Entrepreneur, is out now in ebook, print and audio. Joanna’s website, The CreativePenn.com, is regularly voted one of the top sites for authors and self-publishers. Writing as J.F.Penn, Joanna is also a New York Times and USA Today bestselling thriller author.
Follow Joanna on her blog, on Facebook, and on Twitter!
Take Charge of Your Author Business: 5 Aspects to Consider
Writing for the love of it or to create something beautiful on the page is absolutely fantastic. But if you want your writing to pay the bills, you need to start thinking of it as a business. You need to think of yourself as an entrepreneur. Here are some definitions to begin with:
A writer is someone who writes.
An author is someone who writes a book, however that is defined these days.
An entrepreneur creates value from ideas.
So, an author-entrepreneur takes each book much further, exploiting the multiple opportunities and value in one manuscript and creating a viable business from the ideas in their head. (How cool is that?)
If you want to take the next step into being an author-entrepreneur, here are five things to consider:
(1) Reframe all parts of your business as creative
“I just want to write. I don’t want to do all the other stuff.”
These words are a constant refrain at writing events, but they can never be the reality of the author’s world anymore. Perhaps they never were. However you publish, you have to pay attention to marketing, and you have to connect with readers. You should certainly care about how your books are distributed and how the finances work.
Business is perhaps the ultimate creativity. You are potentially creating something huge in the world from nothing more than the human mind. Wow! So if you want to be an author-entrepreneur running a viable business, then it will help to reframe all aspects as creative.
Business as an author is about writing, of course, but it’s also production and distribution, customer service, sales and marketing, technology, financial accounting, strategy, and planning. If you think of those things as negative, then you will never be a happy or successful author-entrepreneur. You can hire experts to help you, but you need to understand how the business as a whole hangs together. If you love creating and you love to learn, then reframing your business activities as creative will transform the way you work!
(2) Create products that customers want to buy
Most authors start off by writing a book, and then think about how to market it when they’re done. Conferences are full of authors trying to identify their target market, and attempting to fathom their genre—after the book has been written. Of course, you should write the book of your heart if you wish, but that is more about you than your customer. If you want writing books to be your business, then you need to consider your reader. For example, consider the question of genre.
Customers shop in categories (genres) on the online bookstores, or on particular shelves in physical bookstores. Your book needs to fit into the existing categories somewhere, and if it doesn’t, then nobody will find it. If you self-publish, you can generally choose two categories, but you can also get into others through the use of keywords. If a category exists for a type of book, there is likely to be an audience for it, and doing that research before you write the next book might help you identify your target audience and create books that people actually want to buy.
(3) Work with professionals to create quality products
Traditional publishing (generally) does an excellent job of editing and book design. So we’re incredibly lucky that many of those editors and designers now work as freelancers for the growing indie community, and you can use them to make your books stand out. Ensuring your product is first class is also the best way to counter the “tsunami of crap” argument that is so often wheeled out about self-published books.
Collaboration and working with other creative professionals can also be incredibly rewarding, and the barriers are coming down in respect to what indies in all fields can do together. I’m now working with six different translators, all in joint venture deals, where we split the royalties from sale 50:50%. I’m also doing royalty split deals with two audiobook narrators. This means my books are available to many more customers with no financial outlay and minimal risk—all without a publisher.
(4) Think globally and long term
The market for ebooks, online print and audiobooks in the US is not representative of the rest of the world. For most people, the digital revolution is only just beginning and it’s an incredibly exciting time as the news spreads. Frankfurt Book Fair has a significant focus on self-publishing for the first time this year, and German authors are just discovering the joys of going indie. I spoke in Stockholm recently and was amazed to find that many authors had never heard of print-on-demand services, or had even considered a global market for their books in English. Their eyes widened as I told them what is possible now.
My own books have sold in 58 countries, in 4 languages, in ebook, print, and audiobook formats. One of my books was part of a collaborative box set that hit the New York Times and USA Today bestseller lists in early 2014, and the opportunities for what independent creatives can do together expands every day.
Consider that a single manuscript can be turned into multiple products for sale in every market and many languages, for the rest of your life, and 70 years after you die. That’s the magic of exploiting publishing rights, and that’s the beauty of the long-term view. It might only be a trickle of income per book and per market now, but lots of trickles build up over time and if you do your sums, you may end up rejecting 6 figure deals because going indie is the better route.
If you sign your rights away now, how will you be able to take advantage of what’s coming tomorrow?
(5) Don’t wait for permission
The power differential between agents, publishers, and authors has been skewed for a long time. The mere act of query and rejection makes the author increasingly desperate and then grateful to sign any kind of contract, even one that isn’t in their best interests long term. Authors act as if the agent and publisher are doing them a favor by publishing them. But publishers are not charities. They are in business to make money, and that’s why they want your book. 
If you have your own business, you are empowered. You don’t have to ask permission. You don’t have to compromise to fit with anyone else’s vision for your creative work. You can write what you want, when you want, and publish at your own pace. You can reach customers directly. You have freedom of creative expression. You can make decisions about your business without consulting anyone else. If you want to, you can work with agents and publishers who can expand the licensing of your rights, or you can do it yourself. You can design your life around writing books for happy readers.
This is a long-term career and it is possible to make a good living as a writer. So, take charge of your author business today!
Have you used any of these methods, and if so, how did they change your business? Any other tips you’d like to share? Let us know below!
Many thanks to today’s guest.
You can read more WU guest posts by visiting this link.
Great stuff as usual, Joanna. If I were to emphasize one thing for enterprising authors it would be that word quality. Make that your up-front commitment now, in everything from your concepts to your writing all the way through production and distribution. Pay for quality when you must and keep checking your “system” for places that can be improved.
Thanks Jim, and I hope that quality is something that all serious (author) business people focus on. There’s no point marketing a terrible product!
Also, as we know, with many more books in the world, readers have so much choice that they will just delete the sample and move on if it is not their thing. I’m a 3 click reader – I will download a sample, give it 3 clicks (pages) and make a decision whether to continue.
Joanna, thanks so much for sharing your insights. I have been following your blog for a long time and your strong entrepreneurial focus is something every indie write should model. I have tried to follow your advice, but my biggest challenge is lack of time. I have a very busy day job and I just cannot devote the kind of time to the business side of publishing, though, as you point out, this is critical to success. Your willingness to share your sound insights has benefited the indie community. Thanks again!
Hi CG,
I’m so glad you find the blog useful – as you know, I was 3 years in my IT consulting job before I could commit to this fulltime. I got my creative writing done between 5 – 6.30am and then went to work – then in the evenings, I would interview people and blog and do the marketing and learning side.
But even little steps build up – I have a couple of friends who write on their commute – one on a laptop, one on a smart phone while standing and another by voice recorder whilst driving. Think long term and little steps!
All the best!
Joanna–
Your posts are always clear and useful, and today’s is no exception. It lays out an ideal set of attitudes and attributes that marry the writer to the business person. The details you include relative to your own career reveal you to be someone who has mastered all five of the points you raise.
Obviously, though, there is just one Joanna Penn, so questions in the real world remain unanswered.
As an indie writer, I must search out partners to help me deliver a viable product to market. I need to find capable, honest people to edit, and then format, design covers, and package my product.
After that, the writer/entrepreneur is left with the huge challenge of figuring out how to make his product visible. This is made even harder by what you call “the tsunami of crap.”
As an indie writer, I accept my responsibilities. But I have yet to discover a reliable business partner to help me with marketing. A great many marketers promise much, but they aren’t able to demonstrate where and how they’ve succeeded. As well, none of them is willing to apply the model used by literary agents: working on a commission basis. The literary agent must choose wisely. She will be committing time and resources to the authors she takes on. Why shouldn’t this be true of marketers? Let’s assume a modest start-up fee. After that, why shouldn’t the writer expect his business partner to have enough confidence in the product to commit to it in the same way a literary agent does?
If that business model were to come to indie publishing, it would mean that good marketers do what you say writers must do: develop products (books) that people want to buy. They would have to be savvy enough to choose books to market that consumers want, not just take money for cookie-cutter marketing “packages” that they can’t show have worked in the past.
I know it takes money to make money, and I am fully prepared to invest in my work. But all businesses rely on the division of labor. As an indie writer/publisher, I have not yet been able to staff my marketing department.
Hi Barry,
Thanks for your kind words – in reply to your points:
In terms of finding professional partners, there are lists of pro editors and cover designers on my site – reasonably priced – and also lots of indies who share great partners in those areas.
On marketing, I don’t believe you will EVER find a fantastic partner to help you with marketing – I believe the author is the best person to do this – by connecting with customers, building an email list and taking years to do so. I don’t believe there’s a short cut here.
Yes, you can find people to get you on traditional media like TV, newspapers etc – but that doesn’t sell books for indies – that sells books when they are physically in stores so people see them and remember. Social media is for connection, not sales.
And I don’t believe you can outsource or partner with people who can do this type of authentic marketing for you. Maybe that’s just me!
In terms of a business model for marketing/PR professionals, books are just not a good enough return. Why spend all that energy on selling a product priced $3 – $15? If you are a top PR person, you will work with people who have a big budget, who get a good return. This is why I think we won’t see marketing people in the indie space anytime soon.
But this is a long term game, and no one cares as much about your book as you do. No one will work for years on your author business except you. It’s tough – but I think that’s the truth. (I’m keen to hear if people think differently!)
I’ve been thinking about “marketing professionals” for authors — a combination of brand managers and publishing consultants. I think that the more savvy literary agents will morph into this. They’ll understand and appreciate the marketing element, not just the nuts and bolts of promotion, but developing a marketing and production plan around an author’s strengths, including long term brand identity and building a readership. They’ll cultivate a stable of the quality professionals you mentioned, possibly negotiating a discount/bulk rate given how much business they could potentially provide to editors and designers. They’d show authors all the elements of the “funnel” — starting from potential perma-free or bribe to subscribe novellas and then using tracking metrics to actually gauge ROI on marketing efforts. They’d think globally and long term — they should already have foreign rights agents in place, and could add translators to that “professional stable.” Since many agents are hurting in the wake of indie growth, it seems like a logical transition.
Hi Cathy, I agree that logically this is the role agents will morph into, but then the issue still remains that the indies who may most need marketing help can’t get an agent as they are just starting out!
Joanna, I love so many things about this post! Especially this: “Business is the ultimate creativity.” I know that many people view it as something to tolerate (barely), a side effect or necessary evil. But it doesn’t have to be that way, and I believe that as long as it’s framed that way, an author is trapping himself.
I think that authors should be entrepreneurs, absolutely. Now that the industry is forcing authors to stop handing off the “unpleasant stuff” to agents and publishers, I think we’re more than ready to take it on.
Thanks Cathy, and yes, reframing business as creative makes it an altogether more wonderful process :) I actually find that when I speak (enthusiastically!) about rights exploitation and the myriad possibilities for indies now, many people are just as excited about the business side. I think this is the step that will lift a lot more indies into the pro league.
Cathy,
I loved this point, too! I like to view the business side of things as a way to exercise a different creative part of my brain – the part that actually enjoys copywriting, spreadsheets, and problem solving.
And thanks, Joanna – I’ve been following your blog and podcasts for a while now, and I always walk away feeling so inspired by your enthusiasm for the business side of things.
Cheers!
Jessie
It really is a brave new world for authors. Yes, being an author-entrepreneur is a lot of work, but being an author always was a lot of work, and I like the control I have over my own product. I’m excited for the possibilities that are just around the corner.
Thanks for guesting at WU, Joanna!
Thanks Kathleen :)
Yes, it’s a lot of work – like any career you take seriously – and of course, not all authors want to be a full-time writer/author/entrepreneur – for some, it’s more about prestige or self-expression. I am incredibly ambitious, both creatively and as an entrepreneur, and it sounds like you are too :) See you on the journey!
Inspiring as always, Joanna. I heard you call someone on your podcast your “virtual mentor.” What an apt description of what you are for countless others, myself included.
Regardless of whether a person is traditionally published, indie published or a hibred, they have to take control of their business. I know several traditionally published authors with good books languishing on Amazon.
In most industries people are finding the cradle to grave security that used to come from getting the right contract with a big corporation is gone. Publishing is no different.
Thanks for the kick in the butt.
Thanks so much Greta, and I love to pass on what I learn along the way! The Business book feels like a milestone in my own journey, and the podcast has been a way for me to learn – so it’s brilliant that other people find it useful :)
I agree that we’re in a new phase of working life, as we transition from the ‘old’ securities to new, exciting entrepreneurial existence – and it’s worth reminding people who are scared that this is “back to normal,” that large corporates, steady pay checks and retirement were inventions of the last 150 years – that before that, we were all entrepreneurs. It’s also why I like travelling in India and African countries – where everyone is a ‘business-person.’
I loved this. I love Joanna. I have several of her books and learn something from each of them. I love what you guys said in the beginning:
A writer is someone who writes.
An author is someone who writes a book, however that is defined these days.
An entrepreneur creates value from ideas.
That is some strong stuff and a good thing to keep in mind.
I’m so glad I could bring a new perspective, Logan! Thanks for checking out my books!
I realized something just this past weekend. I have been so caught up in the details of authorship that I forgot the one simple reason that I started exploring creative avenues in the first place – because it is fun.
I’m still at the beginning of my indie career. I’ve got two books published. I just finished the formatting for the large print. I’m embarking on the audiobook journey. Very exciting (and little overwhelming) opportunities going forward. I have other ideas for branching out the intellectual property (IP), but it’s all on my shoulders right now, so it will be a few months before I get to work on the dream projects. Books three and four are very near completion (I wrote them simultaneously over the summer), and the foundation for the IP will be complete.
As others have said, your statement to reframe all parts of business as creative is very timely. As I began this comment, I will end it. I started exploring creativity because it is fun. I’ve got a lot to learn about the creative business side, but it is a great time to learn.
Thanks for bringing fun into it, Tarl!
I agree with you – this should be fun – and it is for me – which is why I laugh when people ask about work/life balance. IMHO, you only need that if you don’t like your day job :)
Try not to get overwhelmed with everything – just focus on building each little bit e.g. most people start with ebooks and then print books, then audiobooks, and then organize their brand and website, and then get clear on a series structure and a strategy, and really only look at translations and foreign rights a bit later – I just get over-excited and want to do everything quickly!
Happy creating!
As usual Joanna, brilliant. It’s so easy to think small because the thinking big appears terrifying – until you realise the bigger you think the more possibilities you can see.
Every business is a long term proposition -they don’t call them get rich quick schemes for nothing. Developing and following a business plan has always been the way to grow your business to prosperity. The good part about being an Indie author is it’s a lot of fun learning how it all works while you’re working on that plan.
Thanks for sharing your insights.
Hi Joanna,
I am a serial entrepreneur and I love your venture. My two cents: you should encourage the innovation in the narrative as well. I believe that digital media enable new ways to tell stories.