You have written the book that has been in your head all these years, good for you. If the purpose of your initial literary adventure was to craft a book that you could put on your bookshelf or place on a coffee table in your home, then you have done your job. Your initial research into self-publishing showed you how to go out and get your book produced.
If your goal is to have your book read by millions, to live the lavish lifestyle of a famous author than your job is just beginning. Choosing to go the self-published route means that you will have to do many of the jobs yourself or farm them out to other people to help you along the way.
If you want to be successful, remember that you are putting out a product. Your book does not differ from a set of tires or dinner out at a mid-level steakhouse. You’re now running a business and have to think like a business.
One thing you likely noted that is different going the self-publishing route versus the traditional route is that you have to bear all the costs to publish your book yourself. When it came time to find an editor for your manuscript, you needed to cover that expense as was the case when you hired an artist to create the cover that would capture people’s attention from the first time they saw it.
Now you have to look at two other areas to help propel your book writing business forward:
- Marketing
- Financial
There are other things you will need to consider including legal, i.e. will you be a sole proprietor or do you plan to set up a corporation? These are questions that you should consider and consult with an attorney to help you through the process.
Marketing – Self-Publishing
One thing that you will need to do is to market your book. Through a series of articles focused on authors who are self-publishing, we will share with you some things we have learned and continue to learn as we market both fiction and non-fiction books. In upcoming posts we will discuss the benefits of a mailing list and why you need one, social media as it relates to getting your word out there and various advertising platforms that you may want to consider making people better aware of your book.
Financial Considerations
If you are running a business, you need to understand your numbers. If you borrow money to help your business, your lender may require you to provide financial statements. You also have a responsibility to the tax authorities in your country and you need to ensure you charge tax on sales where appropriate. Those taxes you charge will need to be collected and remitted to the various authorities. We will also talk a little about accounting packages that you may want to consider if you plan on doing the record keeping yourself or if not the need for obtaining an accountant to do this work for you.
I hope our blog will give you some resources that will help you get yourself established and start the writing career of your dreams.