Picture this: You write and publish your dream book, and you develop a  fanbase of readers who are excited about you and your work. For some months after the book’s release, your book rides on the coattails of this popularity surge. You see your sales grow, and you think, “This is it! I’ve made it!”

As the weeks pass by, your book sales dwindle. You aren’t receiving as many event invitations, and your social media engagement drops. You find yourself wishing you had other services or products to offer and criticizing your outdated website or social media profiles. 

Somehow, your latest title was incapable of performing the heavy lifting required to launch and sustain your successful author career.

What went wrong? Other than writing and publishing books, what else is there to being an author? Could this have been prevented? 

The answer is yes, it could have!

When an author relies solely on their published work to spur their career on, they are woefully unprepared for all that comes with a profession in writing. By organizing their brand into a small business, they will avoid nightmarish yet all-too-common tales of unrealized dreams and financial burdens.

But what does it mean to run your small business? After all, you’re a writer, not an entrepreneur… right? Wrong! The two roles are more similar than you might think.

How Authorship Translates to Running a Small Business

Whether you self-publish or opt for the traditional path, it is crucial to run your small author business to the best of your ability. Even if you have a fabulous agent who champions your book far and wide, you are the irreplaceable key advocate for your work. Founding a genuine entity through which you can share your titles and expand your network is just smart business.

So, don’t underestimate your ability to step into business ownership–your book sales will thank you! Additionally, don’t underestimate the amount of work that goes into this undertaking. As CEO of your author small business, a lot is expected of you.

The Job Description

By simply publishing a book, you’ve already created an unofficial small business. To certify this milestone, it’s time to get busy as a self-appointed CEO! In anticipation of your new role, here are some fundamental parts of the job:

• Define & Expand Your Goods. In addition to your book(s), how else can you make money within this industry? What products or services can you offer that expands your reach and income? If you’re a nonfiction author, are you offering courses or workshops? If you’re a fiction author, do you have fan art merchandise available? Today, it is important to define and expand your goods as much as possible so you aren’t relying solely on book sales.
• Maintain a Consistent, Appealing Author Brand. Develop your brand based on both your personal aesthetic and audience research. Your website, socials, and general online presence should consistently appeal to your audience and keep them coming back for more. Your values, credibility, and personality should shine through your copy’s voice on all profiles–even the brand art across the platforms and products should not only look consistent but also speak to you as an author and your subject matter.
• Capitalize on Online Opportunities. Nowadays, digital book sales aren’t the only thing making money for authors. From ads to creator funds, the Internet is abundant with opportunities to expand your reach and make money in ways you’ve never even considered before.
• Keep Your Books Organized. No, not those books! We’re talking about your accounting records. By keeping these up to date and organized, everything from entrepreneur taxes to budgeting feels easier.
• Know & Serve Your Customers. As your customers follow trends or dabble in new content related to your subject matter, keep abreast of these changes. Even after you research them thoroughly, you need to keep up with them in order to market to them effectively.
• Create an LLC or Sole Proprietorship. To truly take control of the professional foundation of a sustainable author career, create an actual business structure, whether an LLC or a Sole Proprietorship. This will line up ways to protect your personal assets, and properly manage your finances, as well as handle earnings, taxes, and legal responsibilities.

As the owner and manager of your own business, you have exclusive and invaluable insight into the nuances of your author career that will translate to all areas that contribute to your success, including marketing aspects 

Long-Term Benefits of Creating Your Author Small Business

There are countless advantages to operating as a small business. Once you establish yours, your readers can enjoy an organized collection of your written work, author brand products, and other services. Achieve more sales and personal fulfillment through long-term success, such as:

• Personal and professional fulfillment
• Notable credibility in the publishing and writing industries
• Established platforms to which readers can return again and again
• Maximized sales and other revenue streams
• Easier logistical processes, such as taxes
• Optimally effective marketing strategies
• Financial stability