The Business of Writing: Why Writers Must Think Like Entrepreneurs

Writing Is More Than Just Art—It’s a Business

People are attracted to writing because of numerous things: crafting and exploring great characters, shaping and developing new or familiar worlds freshly visited, and telling stories with compelling plots, subplots, and layered themes. These things are fun and creative. When I write, it serves the same function in my mind as doing a crossword puzzle or, back in my younger days, building model cars and Legos, or when I had time, doing jigsaw puzzles and painting. It’s building something, watching it unfold, and seeing where it goes. But at this point, it is only a hobby. It’s not making money. To make a career in writing, you must make it a business.

Here’s a secret that you probably already know because you may have even said it to yourself some time: the most successful writers are not necessarily the best writers (you may even be better); they are writers who have learned how or to think as entrepreneurs, strategists, and brand builders.

I’ve had a front-row seat to this on numerous occasions. Like all writers, when I started, I wasn’t making enough to work exclusively as a writer; I had to have my day job. I kept my day job until I started changing my thinking, thanks to my observations and the incredible advice of mentors I met along the way. I’ve seen it in the lives of Killer Nashville International Writers’ Conference attendees. When I started the conference in 2006, it wasn’t only about helping writers to write better; it was about helping writers to sell better. It was about creating a network where authors could learn their craft and the business strategies needed to turn writing into a business, not just a hobby. I saw the hundreds of writers I have known from Killer Nashville who have succeeded. They (and me) grew readership, secured deals, and built sustainable careers, not from our talent (though we like to say it), but from our business acumen.

If you’re not having the career you want as a writer, examine how you are looking at it. It’s not crass to say it is a business; it is practical. If you’re still considering it a hobby, try reevaluating what you are doing. Businesses sell, and if you’re going to be in the writing business, that’s what you need to do, as well.

How to Shift from Hobbyist to Professional Writer

I used the word “crass” above, which is how many writers view it when you talk to them about business. Business is not what turns them on, but for practical reasons, it should. Business seems to cheapen the art, but instead, it makes art profitable. Viewing your work as a business does not detract from its specialness, creativity, and artistry. Business sustains it. It’s crucial to understand the industry. It’s vital to brand yourself to set yourself apart. You must monetize what you’re doing to continue doing it. Business gives you freedom. It frees you from that day job, the fear of finances, the feelings of shortage. It opens doors. It gives you more time to write.

All of us need to have a strategic plan for building our readership. We not only need to publish our work, but we need to market it to ensure that it is read. We need to diversify our writing and income streams just as we would shape our stock portfolio to keep our financial lives growing or, at the least, even keel. If you are not doing any of these, it’s time to look at what you could do differently to change your career and life. Let’s look at essential strategies to increase your writing revenue and exposure to create a long-term and profitable writing career.

Build Your Author Brand (Yes, You Have One!)

Your author brand is the way that the industry and readers view you. Your author brand is much more than what you write. It is your unique voice, your expertise, and what you offer to others. As a writer, filmmaker, educator, and speaker, I’ve built my brand around what I’ve called “storytelling that matters.” Whether it is crime fiction or nonfiction, such as this, where I talk about writing and the business of writing, or when I’m teaching others how to succeed, my brand message is the same: “storytelling that matters.” This consistency, this singular mission statement, has helped me expand into multiple industries while still being known in the publishing and entertainment communities as a trusted authority on writing, publishing, and film. It did not happen by accident. The sincere application and learning of business and marketing principles allowed me to get to where I am and have the brand I am known for.

How to Build Your Author Brand:

To build your author brand, think about and identify your niche. Look at what themes define your work. Think about your website. Is it set up to showcase your expertise? If not, re-evaluate the message you want to send and then alter your website to showcase your mission and your expertise. People visiting this new website will have a better idea of your author brand, even sometimes without you telling them! Look at your social media presence. What kind of image or brand are you portraying? Is it consistent with what you want to be known for? If not, take some notes, reflect, and determine how that can be tweaked. The important thing is that you be consistent in your messaging (“storytelling that matters” for me). No matter what you write, let your brand, and even your brand slogan, inform readers, students, or other consumers what they can expect from you. As an exercise, Google your name. What comes up? What do you see? What message is being conveyed? Is it the one you want? If not, start shaping the brand you want to be known for today.

Diversify Your Income Streams (Don’t Just Rely on Book Sales)

The biggest mistake I see writers making is depending solely on book sales. In today’s market, we must diversify yet stay on brand. Authors must create multiple revenue streams to remain independent and support their careers. To do that, I have traditionally published works at various points in my life, and if the audience was contained and I wanted to keep all the profits, I have self-published. I have packaged books and collections I’ve sold to various publishers. I’ve been an editor. I started a publishing company to publish other writers (not me). I expanded into speaking engagements through Killer Nashville, writing workshops, keynote addresses, and educational intensives. I have taught at the university level at several universities. I’ve designed one complete college curriculum. I’ve written articles. I’ve done corporate writing. I’ve ghostwritten bestselling works for others. I’ve been a screenwriter. I’ve adapted other authors’ books into screenplays. I’ve been a filmmaker. I’ve been a TV journalist. I’ve been a print journalist. I’ve done live presentations and online courses teaching writing strategies through webinars and consultations. I’ve done private coaching. All these things expanded who I was and am as a storyteller. It paid the bills. It got me out of my day job. It brought me to where I am today, where I can write full-time. It didn’t happen by accident. It was strategic.

For you, list three ways that you can make ancillary money from your writing or your knowledge. We are all different, but if you think about it, there are numerous ways you can increase your income flow through writing while at the same time perfecting your craft.

Master the Art of Book Marketing (Because Books Don’t Sell Themselves)

For everything you do, marketing is the key. Even the most astounding, fresh, and best-written books will amount to nothing if they are not marketed well. Don’t rely on someone else to market your work. An entrepreneur gets the word out. The authors who sell the most books are the ones who are master marketers.

There is much you need to know in this area, and we’ll look at these in future essays, but you need to know all about SEO (Search Engine Optimization) techniques if you are going to market well. You must use it for everything you write, even your book descriptions. You need to learn to use targeted keywords so when people search for a book “like yours,” yours is the one that pops to the top.

You need to know about email marketing. You need to build a newsletter to connect directly with people interested in what you are doing or what you have to offer. If you rely totally on social media, that’s a commonly ineffective marketing strategy. Having people’s emails means that, even if they don’t read what you send every time you send something, you do have access to them and are not dependent upon the algorithms of some social media platform.

Don’t get me wrong; you also need to know about social media. You must interact with readers, share behind-the-scenes content, and orchestrate promotions. Maybe paid advertising is something you need to know about. Amazon ads, Facebook ads, and BookBub campaigns can all bring in new readers. They won’t know about you unless you market and conduct yourself as a business.

Don’t forget speaking engagements. Talk about your books. Encourage others. Let readers know about your writing process. Readers love to look behind the curtain at how you do what you do.

You can do all these things. I’ve seen authors come to Killer Nashville with little or no marketing experience, but after learning how to position their books, network, and optimize their online presence through our sessions, many have walked away with publishing deals and eventually gained thousands of new readers.

What do you need to do? Choose a new marketing strategy you want to employ this week. Don’t go crazy and try to conquer the world with everything. Pick only one new strategy. Maybe that is improving your book description. Perhaps it is starting an email list. Maybe it is posting on social media more regularly and genuinely interacting. Possibly, it is taking a fresh look at your website. Any choice will do. Just pick one and do it. It will make a difference.

4. Set Financial and Career Goals (Yes, Writers Need a Plan!)

Any successful business runs on goals and financial planning. Writing words for the fun of it doesn’t count if you want this to be a business. To make a living from your writing, you must think like a business owner and an entrepreneur. You must set yearly revenue targets from book sales, audio sales, film sales, speaking engagements, freelance work, and anything else. You need to track your income and expenses. Know where your money comes from (and be sure to pay your taxes). Create a long-term plan for what you want to do compared to what you are doing now and work toward that (e.g., expanding into TV, film, or new genres).

My career has been successful because of diversification, and I recommend that to you. I’ve lived through writing, speaking, filmmaking, and education. By having a clear financial and career strategy throughout the years (I still always have a ten-year plan in place), I’ve grown my platform while helping thousands of writers do the same. You can do this as well, but you need to make sure your thinking is strategic with long- and short-term goals.

Write down one financial goal for your writing career this year and list how you will make that happen. Pick something realistic but something that will stretch you, something that will make a difference. Create a plan, then put that plan into action over the next year. At the end of the year, you’ll be amazed at what you’ve accomplished.

Protect Your Intellectual Property (Your Words Are Your Business Assets)

Remember that your work is your work. You must protect it. As part of your business plan, don’t forget to copyright your work to secure your most profitable rights and recourse should someone infringe upon you. Take it upon yourself to understand your publishing contracts so you can ask your agent questions when she negotiates things for you. Don’t sign away rights without knowing the terms. Trust your entertainment or literary attorney and your agent, but verify that the terms are what you can live with. If you’ve never reviewed your rights and the rights you own as a writer, start thinking about that today. They are your rights; keep them. Lease them, but keep them. Protect what you create. That is your inventory.

Final Thoughts: The Writer as an Entrepreneur

If you are serious about your writing career, embrace the mindset of a businessperson and entrepreneur. That’s precisely what you are. Otherwise, no matter how you frame it, it is a hobby if you aren’t making money from it or turning it into a strategic business. If a hobby is what you want, then that is perfectly fine. But if it is the dream life of a full-time writer, you need to change your thinking if you haven’t already done so. The most successful writers don’t just create. They strategize, market, and build. They make plans. They create action steps. They are organized. They follow through. If a writing career is your dream, treat your writing like a business because it is. Build your brand. Create multiple income streams. Master the skill of marketing. Think long-term, not just short-term. These are the keys to your success.

Writing is an art, but you can make a living at it. That happens when you also start viewing it as a business. If you’re ready to take your career to a new level, start thinking like an entrepreneur today. There are resources everywhere to help you. Subscribe to my newsletter, where I weekly guide you to a full-time and profitable profession. Follow me on social media, where I share snippets of advice and opportunities. Attend the Killer Nashville International Writers’ Conference, where you can learn from incredible industry experts. Subscribe to The Balanced Writer streaming service and delve into the considerable material library there.

A career as a full-time writer is not something you dream about. It is something you do. It is something you can do. Take the steps today to make that happen. Inside you and all around you, you have everything you need.