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Month: November 2018

And when I die…

Posted in Business, and Just for Writers

Image of steps for business succession planningAnd when I die,
and when I'm dead, dead and gone,
There'll be one child born in this
world to carry on,
There'll be one child born
to carry on.

–Laura Nyro

Let's talk about estate planning for independent-author/publishers. Not a fun topic, I know, but there's no point shoving our heads into the sand in the enthusiasm of the young indie-author revolution and pretending that we're going to live forever.

Business succession planning

All businesses face succession issues — who will take over for key managers and employees. In larger firms, this is just a normal plan, part of the annual review of the business's readiness to handle change.

Family businesses have additional challenges — what will be the role of the family members in the business once the founder dies or retires? Will they run the business, or will they just own it and let others run it? Will they sell it, and how?

A business is an engine for making money. Without the right people in place to make it work, or someone to sell it to, it falls apart.

We indie-authors/publishers are typically one-man businesses. We don't think in terms of key employees, since we haven't got any, but we are ourselves the key employee, and we need to make plans for what will happen when we are no longer able to run our business. And if we've managed to grow large enough to have actual employees, we have the same issues as any other small business. We need a business succession plan.

Broadening your business

Posted in Business, and Just for Writers

Chart of men building a business from the ground upResting on your laurels

You've climbed that first hill. Congratulations!

You've written a book or several, you've presented the world with a few well-written, well-formatted, well-edited stories, and you're settling into a world of writing, pleased that you've come some distance up the path from your initial indie panic at all the different skills you need (not least your writing skills).

Your pencils are sharpened and you're ready to really bear down on the writing process, now that you have a handle on it and know how your books will actually make it into the book retail trade, and who you can call upon for extra help when you need it for covers, etc.

STOP. WAKE UP.

What is it we find backward about traditional authors and author-wannabes? The notion that all they need to do is write, and someone else will take care of all that stinky stuff like marketing and all the business issues.

Is that what you want to do?

Don't forget — you're not an indie AUTHOR, you're an indie AUTHOR-PUBLISHER. You don't get to just disappear into your writing and hope that everything else can just follow the initial methods you've chopped out of your research for how-to-publish, as though that were something static and unchanging.

No, that's just the FIRST step.