Books Are A Business (tm) PREVIEW by Stephanie Harper

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By Stephanie C. Harper Books Are A Business™ Books are a Business Copyright 2007, Stephanie C. Harper. Published by STEP Enterprises Inc. All rights reserved. No part of this workshop may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of Stephanie C. Harper and STEP Enterprises, Inc. This kit may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published without written consent of Stephanie C. Harper. Books Are A Business™ 2010 Copyright By Stephanie C. Harper All Rights Reserved

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Table of Contents About the Books Are A Business Kit............................................................................................................6 About the Author........................................................................................................................................7 ABC’s of Authorship....................................................................................................................................8 FAQ.............................................................................................................................................................9 Let’s Talk Stats............................................................................................................................................10 80% of the population feels the have a book on the inside of them..........................................................11 Let’s talk lingo.............................................................................................................................................13 Commonly used terms in publishing..........................................................................................................14 Let’s talk terms...........................................................................................................................................24 20 terms you must know............................................................................................................................25 Top 5 categories for U.S. book production.................................................................................................26 Who are you destined to become? ...........................................................................................................32 Are you an author or writer? .....................................................................................................................33 7 common mistakes for 1st time authors..................................................................................................35 6 major steps in the book process.............................................................................................................36 4 ways to become a published author.......................................................................................................46 Publishing Pros/Cons.................................................................................................................................47 Self promotion with a purpose..................................................................................................................50 Let’s talk brands.........................................................................................................................................52 Building a global storefront........................................................................................................................55 How your website can work for you..........................................................................................................58 5 secrets first time authors need to know.................................................................................................60

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TABLE OF CONTENTS Rich author vs. Poor author.......................................................................................................................61 Are you an Entrepreneur?..........................................................................................................................63 No such thing as a best selling author.......................................................................................................65 The business - legal structure.....................................................................................................................72 Whatâ&#x20AC;&#x2122;s in your pocket? ..............................................................................................................................86 Cashflow Analysis.......................................................................................................................................87 When will you see the profit? ....................................................................................................................89 Supporting documents..............................................................................................................................90 Contract clauses.........................................................................................................................................91 Putting the Plan together...........................................................................................................................94 Implementing Change.................................................................................................................................95 Entrepreneur Glossary................................................................................................................................97

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About the “Books Are A Business™” Kit At the request of my 10th grade English teacher my writing career began with Hallmark cards, but I never envisioned myself as a published author of many books. I did not start with a goal to become a published author, so I did not know what to expect when my career path sent me down a road called Authorship. I wrote this workshop because while traveling down the road of Authorship, I discovered writing a book is truly a business and every business needs a plan. In the traditional sense building a business plan is about results. As an author, you should be writing your book with results in mind. Most business experts will tell you do not proceed in business without a business plan, but who's telling you that BOOKS ARE A BUSINESS™? When you wrote your book, you did not write it with the intent of keeping it to yourself. Your book was written because you felt you had a story or message to share with others. The bottom line is when you decided to write a book, you took on a new business venture. Take a look at some of the most successful companies, who are billion dollar entities such as: Coca-cola, UPS, and McDonald's, who are still promoting their businesses, even with success. Books are a Business™ and you have to plan a promotion strategy with purpose. Anyone venturing into the world of publishing needs to understand the business side of books. Publishing a book is a business...PERIOD! If you're not ready to have a business, then you are not ready to write a book! However, if you are going to be a successful author, you might as well plan for it. This kit will give you tools to make the most of your new business venture. This workshop will cover line items in a traditional business plan and show you how to tailor it to the success of your book by providing a clear understanding of the following as it relates to your book which is also your new business. ü ü ü ü ü ü

Executive Summary: Highlights of your book and the purpose for it Company Description: Legal establishment, history, start-up plans, etc. Product or Service: Describe what you're selling. Focus on customer benefits. Market Analysis: Your target market, customer needs, where they are, how to reach them, etc. Strategy and Implementation: Management responsibilities with dates and budget. Management Team: Include backgrounds of key members of the team, personnel strategy, and details. ü Financial Plan: Include profit and loss, cash flow, balance sheet, break-even analysis, assumptions, business ratios, etc.

Yes, writing a book requires you to know and understand all of the above. Why? Because Books are a Business™. Congratulations on deciding to become an author and taking the steps to be successful. The choice to become an author is one of the most fulfilling choices one could make, but don’t forget at the end of the day....it’s all about the money, honey! Enjoy the journey!

Entrepreneurially yours,

Stephanie C. Harper, PHR, CCP, CHRM Author, Career Expert, Speaker & Radio Host Entrepreneur & Publisher, CAREER Magazine Books Are A Business™ 2010 Copyright By Stephanie C. Harper All Rights Reserved

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About the Author - Stephanie C. Harper Affectionately called the “Queen of Careers”, Stephanie C. Harper is a respected subject matter expert in the career services field. A certified human resources professional approaching 20 years working “in the trenches of Corporate human resources”, Stephanie has earned industry certifications as a Professional in Human Resources (PHR), Certified Compensation Professional (CCP) and Certified Human Resources Manager (CHRM). A graduate of MTI Western Business College and Columbia Southern University, Stephanie holds professional memberships with several organizations, is an Executive Board Member for Influential Women About Biz, Board Member for Youth United International and volunteers as a mentor for (former) Atlanta Mayor Shirley Franklin’s Youth Career Program. An industry resource, Stephanie has made a global impact in the careers of many with her message of career education and has been quoted in publications such as the Wall Street Journal, Atlanta Journal Constitution, the Denver Post, Greater Diversity News and various publications from Atlanta to Australia. Stephanie has been featured on radio, TV, print and even the Internet empowering employees, employers and entrepreneurs with career and human resource strategies. Her commitment to the industry is evidenced by her contributions as an author, speaker, radio host and career expert who continuously couples her profession with her passion to enrich the careers of others. Gifted with a unique Careers and Christ message, Stephanie also provides faith-based career education and empowerment workshops. Creator and Publisher of CAREER Magazine, Stephanie is also the bestselling author of Why Should I Hire You? and A Kingdom Built Career (foreword by Bishop Noel Jones). Stephanie has also penned Career Tips, Business Basics from the Bible, Books are a Business and the Youth Entrepreneur Camp manual. CoAuthor of Life Manual for the 21st Century Woman, Smart Start to Business and Jump Start to Business, she also writes career articles and columns for numerous publications including LIVE Magazine, WOW Magazine, Speak Life, Streaming Faith, The Success Academy, and Beauty and Lace. Creator of the CAREER Minute, Stephanie hosts the talk radio show CAREER Conversations and is an employment expert for various radio stations throughout the Nation, where millions tune in for career advice and insight. A much sought after speaker, Stephanie has made career presentations for organizations such as Women for Hire, United Way, Association of Job Search Trainers, National Resume Writers Association, Federal Aviation Administration and the Department of Labor (partial listing). CEO of STEP Enterprises, Inc. Stephanie provides career coaching to individuals and human resources consulting to small businesses who may not need an entire human resources department, but certainly need HR EXPERTISE! With much to her credit, her biggest accomplishments include being the wife of her high school sweetheart and mother to her two daughters.

www.StephanieHarper.com

www.TheCareerMag.com

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ABC's of Authorship A - All things are possible (Matthew 19:26) B- Business it's a business, when you write a book, you become a business owner!) C- Create a platform where the world can find you and your product. D- Discipline yourself to write at least one page per day or one hour per day. E - Extra Eyes will come in handy; locate people who will be honest about your work. F - Focus on what's important to you - not mom, dad, or significant other. G - Grammar (if you write like you speak always have a second set of eyes) H - Helping Hands to support your vision and push you forward I - Identify your target market (who are your readers, why will they buy your books?) J - Just when you think the book is finished…there will be fleeting thoughts. K - Keep with it until you get what you desire - - nothing beats a failure, but a try. L - Love what you do and the money will come - don't do it for money. M - Manage your time, tips and talent wisely; you have a new career (life) ahead of you. N - Network with other authors and become a sponge. Soak up all the knowledge you can. O - Originality (many people have similar ideas, set yourself apart in your genre) P - Presentation (this becomes the public's view of who you are and what you do) Q - Questions will save you a lot of time if you get the answers, ask a lot of questions. R - Remember this is your dream…no one can turn it into a nightmare….except you. S - See it before you see it, so you can recognize it when it manifests (when, if, maybe). T - Tape recorders will retain your thoughts when you don't have a pen and paper handy. U - Utilize resources made available to you: it's the difference between failure and success. V - Vehicles to share your experiences, stories, success, failures, comes through writing. X - X - out negativity, professional jealously, false motives, nay-sayers, etc. Y - You are more than an author; speaker, expert, public figure, resource, role model, etc. Z - Zeal is the enthusiasm, passion and eagerness you need to succeed. © 2007 Stephanie C. Harper

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80% of the US Population FEELS THEY HAVE A BOOK INSIDE OF THEM... So you want to write a book? So does about 80 percent of the United States population according to a survey 27% would write fiction 28% would write on personal development 27% would write history, biography, etc. 20% would do a picture book, cookbook, etc. 6 million have ALREADY written a manuscript 6 million manuscripts are making the rounds Out of every 10,000 children’s books, 3 get published Study by Jenkins Group (www.JenkinsGroup.com). Figures released this spring show that a need book of fiction s published in the U.S. EVERY 30 MINUTES. If you exclude titles published through print on demand and other fee-charging, vanity press outfits the total still comes out to about 10,000 books per year or 1 every hour AND THAT IS JUST FICTION. Wall Street Journal July 18, 2004 Self-publishing skyrocketed in 2009. According to the bibliographic company Bowker, 285,394 new books were published by print-on-demand companies last year--a 132 percent increase compared to 2007. In contrast, U.S. publishers put out 275,232 new books and editions in 2008--a 3.2 percent drop compared to the year before. www.Bowker.com The following statistics about book publishing and reading were found on www.parapub.com, the Web site of self-publishing guru Dan Poynter. They'll give you an idea of what you're up against if you want to write books for a living. 1/3 of high school graduates never read another book for the rest of their lives. 42 percent of college graduates never read another book after college. 80 percent of U.S. families did not buy or read a book last year. 70 percent of U.S. adults have not been in a bookstore in the last five years. 57 percent of new books are not read to completion. 70 percent of books published do not earn back their advance. 70 percent of the books published do not make a profit. (Source: Jerold Jenkins, www.JenkinsGroupInc.com) 53 percent read fiction, 43 percent read nonfiction. The favorite fiction category is mystery and suspense, at 19 percent. 55 percent of fiction is bought by women, 45 percent by men. (Source: Publishers Weekly) A successful fiction book sells 5,000 copies. A successful nonfiction book sells 7,500 copies. (Source: Authors Guild, www.authorsguild.org) On average, a bookstore browser spends 8 seconds looking at a book's front cover and 15 seconds looking at the back cover. (Source: Para Publishing, www.parapub.com) This information is not intended to discourage you, but to give a realistic view of the publishing industry. It doesn’t matter if you go with a traditional publisher or self-publisher, one of the keys to publishing success is to understand that it is a business and to know who your customers are. Even if you do get your book published, there's no guarantee anyone will buy it. Books Are A Business™ 2010 Copyright By Stephanie C. Harper All Rights Reserved

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Who are you destined to become because of your book? EXPERT

LEADER

ROLE MODEL

VOLUNTEER

COACH

RADIO HOST

ENTREPRENEUR

EMPLOYER

SPOKESPERSON

SPEAKER

INFLUENCE

CELEBRITY

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What is an Author? § §

(Webster's Dictionary)

One that originates or creates The writer of a literary work

What is Literary Work? § § § § § § § § § §

Plays/ Musical Editorials/ Articles/ Newsletters Books/ Pamphlets Poems Songs Maps Sculptures Paintings Computer programs/ databases Any tangible form of expression

Many authors miss opportunities to become published because they only think of themselves as an author when they write a book. Locate as many opportunities that you can to contribute to your new career as an author.

So, why do YOU want to write a book? Common Answers: § § § § § §

Tell Your Story Love/Like Writing Want to be famous Info not adequately covered elsewhere Communicate injustice See your voice in print

People write books for a variety of reasons your choice should be closely tied to several factors. Write down your response to the following: What is your personal motivation for writing your work? _________________________________________________________________________________________ _________________________________________________________________________________________ _________________________________________________________________________________________ _________________________________________________________________________________________ _________________________________________________________________________________________ ________________________________________________________________________________________ _________________________________________________________________________________________ Books Are A Business™ 2010 Copyright By Stephanie C. Harper All Rights Reserved

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Step 6 - Making Sales or Selling Your Book A very different process from writing it, but a goal you should have in mind during the writing process. Why? Because many factors affecting the financial success of your book should affect the way it is written and the timing in releasing it. Here are a few avenues to consider when it's time to sell:

Who is your audience?

__________________________________________________________________________________ ·

What books are competing with yours?

___________________________________________________________________________________ ·

How do you position your book (what makes it different)?

___________________________________________________________________________________ ·

What is your writing style?

___________________________________________________________________________________ ·

Can you develop a profile for your readers (to write for them)?

____________________________________________________________________________________ ·

Is your book fiction, non-fiction, self-help, etc.?

____________________________________________________________________________________ ·

How does your book flow with what the media is talking and writing about?

____________________________________________________________________________________ ·

Why should people buy YOUR book?

____________________________________________________________________________________ ·

What is the best time for the release of your book?

____________________________________________________________________________________ ·

Will your book sell well around a major national holiday or event?

____________________________________________________________________________________

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Are you an Entrepreneur? We have determined that most of us in this workshop desire to be a writer or author, but are you ready to be an entrepreneur? q Yes or q No (explain your answer) ________________________________________________________________________________________ ________________________________________________________________________________________ ________________________________________________________________________________________ The Book Business will thrust you in the world of entrepreneurship. Running a home-based business venture requires an investment of time, energy, resources and lots of volunteers. By definition (Webster's) an entrepreneur is one who organizes, manages and assumes the risk of a business or enterprise. As an entrepreneur you become the creator of your work life. When you write a book you are also making the decision to take control of your future. Initially, you may still work the "9 to 5 window", but as your book prospers, you will need flexibility to keep up with the demands of your new business venture. According to Daile Tucker (entrepreneurs.about.com), below lists several character traits and work ethics that are common to successful entrepreneurs. How many do you possess and why? Be honest with yourself about the areas that you need to work on and your plan of action to do better. Entrepreneurs are careful about money. __________________________________________________________________________________________ Entrepreneurs (most) earned money when they were teenagers. __________________________________________________________________________________________ Entrepreneurs are competitive by nature. __________________________________________________________________________________________ Entrepreneurs are risk-takers who trust their hunches and act on them. _________________________________________________________________________________________

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Let's Run a Business! Now that you have decided how your business will be promoted, you must also consider how your business will be operated. Here are several divisions or departments of your business that someone has to manage effectively. § Payments What percentages of the earnings will be paid to the author, and when are earnings paid? Or how much goes into reproduction of the books? § Costs What are the upfront costs for the author to have the work published? Will you have to give up your main source of income? How will you survive as an author? § Promotion options What are the promotional options? How much do they each cost? How do you measure "the investment" before you have spend the money? § Size limitations Is there a minimum and/or maximize length of the work to be published? How many constitute a book? Is it a book or pamphlet? § Editing assistance What resources do you have for editing assistance for the manuscript? Is it in your budget to hire a professional editor? Does the publishing house have a in-house editor? § Writing classes and training Does your desire to write a book give you writing skills? Should you take up training/ writing classes? Does the publisher offer training and/or writing classes? § Distribution Who is responsible for storing and distributing the finished work? What cost are involved? What if a distributor does not accept the book? How will you get the book to the masses? § Sales Who handles the sales function of selling the "business", Who will handle the paying of sales taxes, etc.? NOTES:

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The Business - Legal Structure Books can become a second business and an additional source of income (reported income and you pay taxes). Before you begin the process, decide on some key elements. Will you use your name or a pseudo name? _________________________________________________________________________________________ What qualifies you to write this book? __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ Will you solicit co-authors or ghostwriters? __________________________________________________________________________________________ __________________________________________________________________________________________ Will you need a written agreement with co-author's or ghostwriters? (Write down the terms here) _________________________________________________________________________________________ _________________________________________________________________________________________ _________________________________________________________________________________________ Is this book research based? __________________________________________________________________ Do you need outside permission for any items in your book? (list possible items, quotes, charts, references, etc.) __________________________________________________________________________________________ Don't forget legal protection, such as copyright, trademarks, branding, patents, etc. If you are going to have products (shirts, mugs, pens, etc.) do your research to protect those items as well. To Do: __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

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Marketing vs. Advertising: What's the Difference? §

Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.

Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.

Simply put….Advertising is a single component of the marketing process. Advertising only equals one piece of the pie in the strategy. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer. The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, community involvement and hard work. All of these elements must not only work independently but they also must work together towards the bigger goal. Fill in the ingredients required for your perfect marketing pie:

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cash flow analysis and specific implementation details Is this the most important part of the Plan? It depends on the case, but usually it's the cash flow analysis and specific implementation details. Cash flow is both vital to a company (or book success) and hard to follow. Cash is usually misunderstood as profits, and they are different. Profits don't guarantee cash in the bank. Lots of profitable companies go under because of cash flow problems. It just isn't intuitive. Implementation details are what make things happen. Your brilliant strategies and beautifully formatted planning documents are just theory unless you assign responsibilities, with dates and budgets, follow up with those responsible, and track results. Business plans are really about getting results and improving your company Three-year Income Projection - what can you make, and how will you make it? Most statistics say the average shelve life for a book is 8 months. So what you do the first 8 months is crucial to what will follow. How can you make the most out of your book under the following goals? IMMEDIATE GOALS (within the 8 month period) § § § § § §

Schedule book signings at as many book stores within a 2 hour drive Seek opportunities to become a speaker Send pitch letters to radio, TV, and Internet broadcast Make friends before you need them Attend / Join writers clubs or organizations Sign up for newsletters relating to your genre

SHORT TERM GOALS (1-1.5 years) § § § §

Establish yourself as an Author Build Database to 1500 subscribers Establish yourself as an "viable resource" in your industry or genre Schedule a 10 city book tour

LONG TERM GOALS (1.5 to 3 years) § § § §

Be recognized (locally, nationally, internationally) as an Author Have a public following / fan base / book clubs in anticipation Sell 5,000 books (figures to present to a major publishing house) Have book picked up by a major publishing house.

As an author (entrepreneur), you have to decide what goals fit where in your plan and where. To measure your effectiveness in reaching your goals add benchmarks and completion dates next to your line items. This way you will be able to measure if you have met your goal, by the allotted time frame. To reach your goals, they must be realistic and attainable. It is probably not a realistic goal to establish yourself as an author if you have no media streams for people to find you or your books. The upcoming section provides a place for you to insert immediate, short and long-term goals. You may also want to use a separate notebook to define the plan of action for arriving at your desired destination.

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Order your kit today www.StephanieHarper.com Special Rate for Facebook friends connected to the CAREER Magazine Fan Page Facebook.com/thecareermag Check your inbox More info call 404.604.4511 Books Are A Businessâ&#x201E;˘ 2010 Copyright By Stephanie C. Harper All Rights Reserved

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