Saturday, February 29, 2020

How to Start a Successful Publishing Company

Did You Write Multiple Books? Why Not Register as Publisher?

With advancements in technology and resources, many people can publish a book, but it takes a bit extra to start your own book publishing business and a successful one at that. 

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. Just to name a few important topics to consider:
  • What are the startup and ongoing costs?
  • Who is your target market?
  • How long it will take you to break even?
  • What will you name your business? 
  • Do you want to incorporate?

Register your publishing business

To be found by other authors and potential customers, add your company to these publishing directories:

Find Your Niche and Stick to it

Fans of particular genres are likelier to be loyal to publishers putting out content that they like. Engaging with those customers on every level is the best way to retain who you have. This can range from social media engagement to simply meeting them at book signings and readings or lectures and presentations you give.

Non-Fiction: Business and “How-to” Books

Entrepreneurs and Craftsmen as Authors: You might have read craftsman Mike Holmes’ expert book ‘MAKE IT RIGHT’ - it became a bestseller! Books in all forms (print, audio or ebooks) are becoming popular marketing tools for the self-employed. IT service providers, health professionals, artists, NGO assistants, technicians, designers, photographers, illustrators, travel and tourism providers, accountants and craftspeople, and certainly, industry producers and retailers - they all can provide valuable advice in book form.

An estimated one Million titles written by entrepreneurs and other non-traditional authors have been published alone in the United States. The electronic-book market and the Internet, in general, have eased the distribution process for authors. Within minutes you can now upload a file and have a book. Author Adam Witty is the author of ’21 Ways to Build Your Business with a Book’ - it Is Your New Business Card’. Writing books about the topics of your business will encourage customers to order your products or services. It also might offer speaking engagements by industry organizations. Give copies to prospects when you meet them and include copies when you issue proposals.

Entrepreneurs are not necessarily writing to produce best-sellers. Instead, they are taking advantage of new forms of publishing, such as audiobooks, electronic publishing, and print-on-demand, to generate a marketing tool and additional income at the same time. That income stems from speaking, consulting, press, and new customers. It’s not only about selling copies. The National Speakers Association, a trade group in Tempe, Arizona, reports that over 60% of speakers earn $100,000 a year on average, just from giving presentations.

Your book will add legitimacy to training courses and workshops. It will help to establish you as a subject matter expert and encourage people to register for classes. Consequently, it will help you build your prospect and customer list. Selling your book on your website enables you also to capture important contact information. To realize these benefits, you must produce books that are skilfully written and designed.

What You Can Deduct

Congratulations to every author who accomplishes this.  You really have earned your revenues. For sure, the “Taxman” is as happy as you are. But you also had expenses and should be able to deduct them from taxes that you pay for royalties. For sure you will write more books, so it would be coherent to register as publisher and deduct even more expenses:

  • Rent / Mortgage / Heating / Electricity etc. for the space you work in (and storage for your books if you go the “paper route”)
  • Furniture, carpet, blinds, cleaning material, the cost for a maid, etc.
  • Computer, printer, fax, scanner, copier, and other office equipment 
  • Telephone, cell, wireless, cable 
  • Insurances, banking fees
  • Software and computer training
  • Travel cost such as hotel, car, taxi
  • Car payments, car insurance, gas, repairs
  • Webhosting, Domain name, web designer
  • e-Book conversions, cover design, editing, copy editing, layout. and desktop publishing
  • Writers and publisher conferences 
Starting a publishing company doesn’t happen in a day or a week. Spending the time to plan your vision and build a framework that’s aligned with your goals will not only enable you to enjoy all the advantages of being a business owner - but also set the foundation for publishing success.

Learn more about the process to become a small publisher from these web sites:


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