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

Photo from Pexels

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.

The Fun and Challenges of Guest Blogging

KEEP-CALM-BLOG-ON[1]After releasing a new novel, one of my ongoing promotion tasks is to write guest blogs and find bloggers who are willing to host me. I remember asking you all for advice about whether to try a blog tour and the majority of responses advised against it. The reasoning was that the amount of time it takes to write twenty to thirty blogs doesn’t pay off in subsequent sales, especially when you factor in the cost of hiring someone to arrange a tour. Sure, you could organize a big tour yourself, but it takes a great deal of effort to find willing hosts, keep track of posting deadlines, and stay engaged in the process.

So, I’m preparing just a few blogs, at my own pace. I thought it would be challenging, but once I started thinking about topics, ideas began to flow. Some of the blogs are specific to The Blade Man and others are about writing in general. It’s actually been fun to reflect back on my career, the things I’ve learned, and acknowledging the people who inspired me.

To date I have three lined up for June, which I’ll repost when the time comes, and I’ll be searching for more opportunities as we move into July. I’m not planning to appear more than once a week, which is plenty for me.

All in all, I’m off to a good start, but I’m looking for more hosts, so if you’re interesting in hosting me, please let me know at debra_kong@telus.net.

And I’m always open to hosting authors in all genres, as we can all learn something from one another.