Judith Marshall

The minute you write a book, you’re in business. And if you want to have a successful business, you must think like a business person. What does that mean? First you need to establish a budget. If your goal is to publish yourself, you’ll need to decide how much you are willing to spend (assuming you want a print book) to achieve the end result.  Ask yourself if you’ll need to hire a book designer.  A professional editor?  Do some online research on typical costs for these services.

Next, how much will you allot for marketing the book once it’s published?  Will you do it all yourself, or hire people to do it for you? Will you want a publicist or just someone to write and distribute a press release?  Obviously, your budget won’t be hard and fast in the beginning, but at least you’ll have some ballpark figures.  Once you begin to spend money, these expenditures can be set off against your budget in a simple Excel spreadsheet.

I’m always amazed at how many authors don’t project or monitor their costs.  If getting your book to market takes several years, the expense can really mount up.  And most importantly, how will you know when you’ve made a profit if you don’t know how much you’ve spent? 

Remember, writing is a business and should be treated as such.