Not a reluctant tip: Loath vs. loathe
Editing client publishes debut zombie novel

Do self-published writers need a business plan?

If self-publishing Calculator-385506_1920 a book, do you need a business plan? The answer depends on your goals and objectives.

A business plan lays out your financial goals and a detailed action plan for achieving them. For the most part, a business plan is created to obtain a loan from a bank or other financial institution. Even if not seeking a loan, such a plan can be useful in guiding your strategy to grow a business.

Generally, creating a business plan is unnecessary for self-published writers, even then they establish their own “publishing company” that owns the ISBN to their books. Such businesses generally are a self-proprietorship, and any royalties coming to the author is considered personal income.

Given this, rather than a business plan, self-published writers ought to be more concerned about creating a simple budget to keep their publishing expenses (for editing, cover design, etc.) in check and about developing a marketing strategy for boosting their sales. Perhaps a timeline for writing and publishing books also would be helpful, though this has less to do with the business than with maintaining good writing habits.

A business plan becomes necessary when you publish enough books with large enough sales that you can quit your day job. By that point, you have a serious small business going, and the writing effort no longer can be viewed as just a hobby or a side job. In addition, a business plan is necessary if the writing leads to the creation of another business, such as consulting, speaking, editing writers’ books, designing book covers, or self-publishing titles the writer didn’t pen. In this case, though, the business plan is geared less for the self-publishing of your books than for the small business you’re running.

Professional Book Editor: Having your novel, short story or nonfiction manuscript proofread or edited before submitting it can prove invaluable. In an economic climate where you face heavy competition, your writing needs a second eye to give you the edge. I can provide that second eye.


Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)