Excerpt

Introduction to the Updated Second Edition of The Writer's Business Plan.

The Writer's Business Plan was first published in 2016. Over the years, links became outdated, and technology changed. After nine years, it was time to update the book.

In the intervening years, I have given talks to writer associations and conferences on how writers can create personalized writing careers and business plans. Attendee comments and questions have provided important insights and sparked new ideas, which I have incorporated into this second edition.

The latest edition includes new chapters covering every aspect of a writer's business plan. There are also new Worksheets, recommendations on setting up a writer's business plan review schedule and ideas regarding how to use your new plan to achieve your writing business goals. As with the original version of The Writer's Business Plan, the reader does not need to know anything about business to understand the book. Written without jargon, all the information you need to create a business plan is explained clearly and concisely.

This book is most helpful to writers who do not have a business plan or who created a plan previously but have never updated or used their plan. (If you are making six figures or more with your writing business, you will probably find one of the more advanced author business plan books more helpful.) You can find a list of additional books to read at

www.BusinessBooksForWriters.com/Resources/)

This revised second edition of The Writer's Business Plan provides the reader with a simple, basic plan that you then develop as you have more time and gain more business experience.

Benjamin Franklin wrote in his autobiography, "Fail to Plan, Plan to Fail." In other words, you will fail to achieve your goals if you don't have a plan.

Many writers say they want to approach their writing as a business but don't know where to start. As Franklin wrote, the best place to start is with a plan.

Few people or businesses succeed without a plan because you will have difficulty getting there if you don't know where you are going.

This book guides you through creating a personal writer's business plan customized for your needs. It doesn't try to tell you how to self-publish or improve your prose. Many excellent books exist to help you with those topics.

The Writer's Business Plan teaches you how to create the strategy, goals, and plans you will need to achieve your career and writing business goals. This guide contains what you need to know to write your first Business Plan (or update an old plan sitting in a drawer) and how to use and maintain that plan to grow your business and career.

Write Your Writer's Business Plan in a Weekend

Many writers skip creating a business plan because they fear they can't spare the time required for extensive research and analysis. Others are afraid that the business plan will take time from their writing. Unlike other business plan authors, I believe having a plan you use is better than starting a plan but never finishing it. Create your first plan based on your personal and business goals and what you know about your readers, business finances, and sales.

Then, as you get used to using your business plan, add more details. Do more research about your readers and the market. Are you intimidated by the financial information? Start with the basics. Pursue more ambitious goals as you gain more ideas from other writers and learn more about the publishing industry. This approach ensures you saves you time and ensures you continue growing your business while having time to write. A writer's business plan is a dynamic document that evolves as you and your business grow. The Second Edition of the Writer's Business Plan is designed to show you how you can reach those writing goals you dream of achieving.

How This Book is Organized

You will find one or more worksheets at the end of most of the first nine chapters. After you complete the worksheets, paste your responses into the Business Plan Template in Chapter 7 (Worksheet 13). Most people can complete the Business Template in a week, part-time, or over a weekend, working full-time.

In seven chapters, you will have completed a personalized writer's business plan that lists your company's goals and provides a tool for judging your progress.

You will learn how to set up a simple review schedule to keep your plan updated with new goals as conditions change, you pursue new opportunities, or you experience setbacks. You set your review plan, but most writers review and update their business plan once or twice a year, except when they have a major business decision to make. That is when the plan is the most valuable.

You can't reach a goal you haven't set.

This book discusses the different types of goals you need to set: business goals, marketing goals, and financial goals. Helpful tips and warnings provide information on handling obstacles and opportunities that will arise as you pursue your writing goals.

Once you have completed your business plan, you can discuss what is unique to your company, what value you provide readers, and how you will reach your fans. You will have determined how much money is available to spend on your business. You will have goals to explain to professionals who work on your books, such as your cover designer, copy editor, accountant, or interviewers!

You'll come across plenty of books offering general business advice for writers. While those are worth reading alongside this one, the most valuable business books for writers will emphasize one thing from the start: you need a business plan.

The Writer's Business Plan walks you through each step of crafting that essential plan and demonstrates how to leverage it throughout the entire lifespan of your business.

A Glimpse Ahead

In Chapter 1, you will learn how to write a vision, value, and mission statement. You will also learn how to achieve success by using S.M.A.R.T. goals.

Tip:

Do the worksheets at the end of the chapters.

Enter the information into the Business Plan template in Chapter 7 (Worksheet 13).

By Chapter 10, you will have a completed personalized business plan that covers your business for the next three years.