So many writers love the creative process but hate the business end. Yet they must go hand in hand in order to achieve the best success. This blog from M.K. Tod offers excellent advice in planning a career as a professional writer.
As an author you invest in your business with money, time, effort, and connections. Now imagine approaching a bank or other investors (literary agents and publishers could be considered investors) to ask for financing. Smart investors will want to know you have a plan before taking a risk – a business plan. Indeed, those who advise on business planning often say, “if you fail to plan, you plan to fail.”
In the past, writers were asked for book proposals, more often for non-fiction but increasingly also for fiction. These proposals usually cover one book. In contrast, a business plan covers the breadth of your writing business and hence must be more comprehensive.
Let’s borrow from the domain and language of small business to explore the contents of such a plan tailored for writers. Your plan will cover your writing focus, qualifications and skills required, the market for what you produce, an…
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