This month’s topic might be my favorite of the entire year: the business of writing. Why? Because I’ve long said, as writers, we must treat what we do as a business.

That doesn’t just mean building a writing routine or dedicating time to marketing your work in between releases. Those are great things to do, don’t get me wrong, but treating your author career like a business means looking at the financial side of things too—the true “business” part of the equation.

It means you behave accordingly while managing your business by forming an entity, an employer identification number, and a business bank account, as well as setting up the right support so you can operate like a business owner. 

Creatives can sometimes drag their feet when tackling finances and other administrative work, but this month I want to help you shift your perception and your procedure to give your author career room to grow. And I’ve got another four hundred words to help you get there, so let’s dive into it.

Perception

The perception that business people can’t be artists and vice versa is, to be direct, wrong. Here’s the thing: you might have been told that to be creative is to court the muse. “You must write only when you’re struck with magnificent inspiration,” you might’ve heard. There may have been mention of the dangers of writer’s block for good measure.

In addition, there’s the prevailing belief that we’re either right-brained or left-brained. Honestly, I don’t know which one is supposed to be inclined to be creative or business, and it doesn’t matter. 

The truth is, you’ve got both sides available to you at all times. Now it’s true that you might have sharpened your creativity tools while neglecting your business muscles over the years. Just like getting in shape, the muscles we focus on grow, and the muscles we neglect atrophy. 

If you’re a brilliant creative, chances are this is the side of you that is the strongest and receives the most attention. As an author, your writing, design, and marketing tasks can keep those muscles strong, so you can spare some time to shore up the ones that need attention. Which brings us to…

Procedure

I’ll be honest with you. This part—learning things you don’t know and getting better in areas where you’re weak—can be frustrating and confusing. I know, I’m a ray of sunshine, right? But you want to make a prosperous living as a writer, so you’re going to have to shine a light in those dark places. Not to worry, I’ve intentionally made it sound more ominous than necessary, so what I propose now won’t seem so terrible.

Before you were a boss at writing, you studied the craft, your genre, and read a lot of other books to build your writing skills. How you proceed about the business side of writing is the same, except this time, you can create a shortcut. Instead of doing the studying yourself, engage the services of professionals to help. 

It’s true you’ll want to know a few things, like what EBITDA stands for—earnings before interest, taxes, depreciation, and amortization—or how to draft agreements and contracts for anyone you hire as part of your business. But you don’t need to know everything; you just need to know the right people. Have someone on call who can help you make big decisions. Having a mentor, someone who has real-world experience and results, is also great. Your bookkeeper and CPA can help guide your ship when it comes to tracking earnings and expenses via spreadsheet, and they’ll be worth their weight in gold. As you grow your business over time, you’ll build the connections you need to keep growing. 

Why It’s Important

I would be remiss if I didn’t share why understanding business and how to run your writing career like one is beneficial, so if you’ll indulge me a couple hundred more words, I’ll do just that.

• You’ll attract more business. You’ll carry yourself with confidence, and confidence is magnetic.
• You’ll write more, more efficiently, and more effectively. A business person understands they have to generate product to generate revenue. Once you understand the connection, you’ll write like it’s your job—because it is.
• You’ll make more money. I saved the best for last! Run your business like a business, and your business will pay you like one.

One more important thought before I go: you can do this. You can learn about business and turn your writing into a solid, prosperous, productive career. 

Happy writing!