Q&A: Is it necessary for an author to have a business plan?

May 28th, 2012 → 8:00 am @ Carol

It is time for ZLS Publishing to provide us with another answer to a common question authors have about their writing business. Let’s see what they have to say about the necessity of a business plan for authors. Is it useful?

“As a writer, soon to be a published author, do you think it’s necessary I have a business plan? If yes, why? If no, why not?

Yes! Yes! Yes! Publishing is a business, regardless of how the author or writer may feel about it. It is a business, and without a business plan, you will be lost in figuring out the best way to market your book, who will be your target audience, the cost of everything regarding your publishing journey, etc. If you have any doubts that publishing is a business, just ask the IRS, who will tell you that you have to pay taxes on the money you make from your book sales. While your business plan won’t get you a loan, it will get you a better understanding of how the business of book publishing works.”

There you have it. Publishing your book is a business, and plans are so important to any business. Take ZLS Publishing’s advice: Draft a business plan today! For guidelines and tips, pick up a copy of my book, Business Tips and Taxes for Writers. Chapter 7 introduces the concept of a business plan in a clear, easy to understand format!