One of the more challenging aspects of publishing a book is managing your writing as a business. Here are a few things to
think about, and links to help you get organized.
There’s no such thing as “only being a writer.”
While many might not want to handle the business side of things, to give ourselves and our books the best chance of success, we must. Where do we start? How do we manage all the many tasks needing to be done? It’s important to view our writing as a business, so an important step is actually creating a business plan, which doesn’t need to be complex to be effective.
It’s really about understanding what areas of focus will benefit you the most in the coming year, setting achievable milestones, and creating a plan to accomplish each goal. This 7-Step Business Plan for Writers is easy to understand, comes with a template, and helps you stay organized as you accomplish what you set out to do.
Money Talk: Revenue, Expenses & Considerations
As an author, you’ll want to keep track of sales records, create a budget for your spending, and track those expenses, which you can then submit at tax time. Here are some articles to read. If you wish to speak to a tax account who specializes in writers and authors, we recommend Sandra Fitzpatrick.
Taxes & Estate Planning for Authors
Taxes are never fun, but they are necessary.
You want to make sure you are organizing your receipts for your business so they can benefit you at tax time. What can you write off, and what can’t you? While we can’t offer legal or tax advice, we’ve pulled together some articles to help point you to others who might be able to answer some of your questions.
Have you thought about what happens to your books and IP after you move on to your next Great Adventure? What happens to your social medial accounts, website, email, etc?
Because your copyright outlives you, a bit of planning now can make things much easier on your loved ones or estate later. Here are some helpful articles to read, so you’ll be able to take next steps.
Understanding Your Intellectual Property
Intellectual property is any intangible creation that is the product of human intellect. Intellectual property rights are laws that protect the use and replication of these works from unauthorized sources. There are four main mechanisms in place for safeguarding intellectual property: copyrights, patents, trademarks and trade secrets. (WixEncyclopedia) Here are some references that might be helpful.