A writers business plan

The importance of a Business plan for a writer is paramount. 


Having an internal plan helps you understand the gaps in your business model. It will also help you understand your personal and financial goals. The key to this plan is the “know your customer section” this is the section you should spend the most time on. DO YOUR RESEARCH! Do not think you know it all. Ask yourself questions and then find the answers.

I have listed out the key questions you should have in your plan, you may want to add other questions depending on your business model. For instant, you may also be a public speaker or a life coach; maybe you want to write articles for magazines and newspapers. You can adapt your business plan any way you like. 


And do not forget your business budget plan. You can publish for as low as $1000 and as much as $25,000 this is why a business plan is paramount, it allows you to understand your goals and lets you set a budget so you can achieve them. I personally work out my business budget plan in excel and my business plans in word. 


The Business
 
Type of business
-        Limited Company / sole trader? etc 
 

The Product   
Genre?  
Other services?
Unique Selling Point of my product/services?


Planning
What resources, expertise & equipment will be needed?
 Resource  

Website
-        Hosted etc


Advertisement 
-        Where?

Expertise
-        You, the author 
-        Editor
-        Designers  

Equipment
Computer system
-        What will you need? – Laptop – phone – printer etc
 

Knowing your customer
What are you customer’s needs?
-       Research this
 

How would my typical customer buy my services?
-       Research this
 

Customers will use my services because:?
-       Research this


Would buying my services be a one off purchase? And why.
-       Research this
 

Knowing my market
Is my market in decline or growth?
-       Research this
 

Knowing my local market
Is my local market in decline or growth?
-       Research this
 

Who is your competition?
-       Research this
 

Short-term business goals
-        
Short-term Financial goals – Year One
-        
Long-term Business goals
-        
Long-term financial goals
-         
 

Advertising my business
-       Where? How?

Promoting – special launch offers
-        What? & How?
 

Skill gaps in my business
-       e.g. Graphic designers
-       e.g. Accounts
-       e.g. Editing 
 

How will I fill these skills gaps?
-       e.g. Commission a designer for my book cover and web banners
-       e.g. Find a good accountant
-       e.g. Commission an editor and proof reader ect  
 

Business Budget 
I factor in the following cost:
 
Editing and proof reading
Graphics for book cover designs
Graphics for web banners or face book fan page banners 
Web site costs
All advertising costs eg: 
Business cards 
Headed paper for press release letters
Book fairs 
Flyers for book fairs
Facebook adds
Google add words 
Book convection administrations


Good Luck x