Where to Spend, or Not Spend, on Your Author Biz

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At this time of year, I always calculate how much money I’ll need to maintain and expand my writing business. Having grown up relatively poor, budgeting has been a way of life since childhood. The accountants in my family keep me on track, so financial accountability is part of normal life.

I record writing income and expenses on an Excel sheet pretty much once a week, but I don’t create a new spreadsheet of anticipated expenses for the upcoming year, though I probably should. When it comes to annual fees for professional memberships, websites, promotion services, etc. I simply refer to previous years to know what I’ll need.

They say you have to spend money to make money. When it comes to book production, this is quite true unless you’re traditionally published. So, it’s always a challenge to see if anticipated income will be enough to hire the editor and jacket designer I’ll need. As many of you know, production costs can add up, especially if you intend to sell print copies at various events. The question is, how likely will it be to make that money back in a relatively short timeframe, and what is a short timeframe anyway?

To boost sales income, I’ve tried half a dozen promotion (aka book deal) sites with mixed results. Last June was more profitable than the fall, although each event helped get the word out about my books. Still, I’ll be reflecting on how much to spend this coming year. I’ve also pondered Amazon, Facebook, BookBub ads, which can be highly profitable or extremely costly, depending on a number of factors. Based on what I’ve learned so far, you need to know what you’re doing.

A recent post from Writer Beware also got me thinking about money. The piece made it clear that the number of scammers is growing and they’re becoming more clever about targeting authors, both traditionally and self-published. I recommend reading their most recent blog and, as mentioned before, using their site as a resource when you’re approached by someone or a company you’re not sure about. You can find the blog HERE.

To me, financial health is as important as physical and mental health. This year, I’m excited to see if I can build my business while still spending prudently. It should be an interesting experiment.

Author: debrapurdykong

I'm a British Columbia author who's been writing for over 30 years. My volunteer experiences, criminology diploma, and various jobs, inspired me to write mysteries set in BC’s Lower Mainland. Employment as a campus security patrol and communications officer provide the background for my my Casey Holland transit security novels. I'm also a part-time facilitator in Creative Writing Workshops through Port Moody's Recreation program. Feel free to contact me at dpurdykong@gmail.com

10 thoughts on “Where to Spend, or Not Spend, on Your Author Biz”

    1. For me, in-person print sales sell the most books in a normal year, but in 2020 I sold only a fraction of my usual print books. Thanks to the BookBub ad last year, my ebook sales more than doubled my normal annual sales total for all books was more than double, but because the first book was free in BookBub’s ad and subsequent deal sites offere $.99 sales my income was about the same as it was in 2020. I also didn’t have to pay craft fair vendor fees in 2020, which lowered my overall expenses quite a bit.

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