Wondering if you should have gotten the “find my phone” app after you’ve lost your smart phone is sort of like wondering if you should have had a business plan after you’ve completed your book. The answer to both questions is yes, and figuring it out too late can be a costly lesson. Here are five things authors need to know about business plans.
1. Marketability.
It is ideal to write a business plan for your book before you begin writing your manuscript. You may have a great story idea, but you want to ensure that you have a substantial market for that idea, and that it will cater to your target audience. If you think about it – why would you write a book that wouldn’t sell? Do your research to identify readers looking for your type of book and where they are. The bigger the market for your book, the more salable your book is, and the more profitable it will be.
2. Essentiality.
In creating your story idea, think about why you’re writing your book and why it should be published. Is there a need for your book? Are there other books similar in category or genre to yours? Why is your book different? What will make readers choose your book over others already in the marketplace? Do your research and compare your story idea to what is already out there. This ensures that you produce a unique, but necessary book for your target audience.
3. Book structure.
Arranging your book via its content (chapter structure/table of contents, summaries, and book synopsis) help you to streamline all the information you wish to present to readers. It allows you to see if there are any gaps in your story, how your book compares to others in the market, and if what you’re presenting meets the market’s demand.
4. Advertising.
So you know you want to write a book and have the perfect story idea. Have you thought of how you will promote it to your intended audience? Advertising is something you need to carefully think about, as well as develop a strategic and effective approach to build your readership – before writing your book. Waiting until you’ve finished writing your book will have you scurrying to find readers interested in what you have to say. Start brainstorming ideas on how you will get the word out about your upcoming book (blog audience, email lists, social media, and so on), and begin building your author platform now. The more people know about your book, the larger the audience awaiting your book, and the more visible your book will be when it’s released.
5. Future books.
So you know you have a great book idea and have developed your plan on how to make it a success. Have you thought about what other stories you will write? Maybe a sequel or a book series. Is your current book a way to attract publishers to more upcoming books? Is your book part of a strategy to grow your business? Think about your goals surrounding the writing of your book. Writing one book is the start to getting your name out to the masses. However, writing more books will help you to become more discoverable, visible, and profitable.
A business plan is your GPS to success.
Keep Writing!
Multi-media personality, Social Media and Personal Branding Coach, Motivational Speaker and Voice-over artist, NIKKI WOODS is the senior producer of the Tom Joyner Morning Show, the most successful syndicated urban radio show in history reaching more than 8 million people on a daily basis.
www.nikkiwoodsmedia.com
