Difference Between Author Platform and Business Plan

 

Transcript:

Hi! This is James Livingood and I am want to just take a moment and build this video and show you what’s required in order to build your writing platform. A few things need to be mentioned before we get into the mechanics of building your platform.

First off a writer platform is not the same as a business plan. A business plan is going to be how your books earn out and then continue to make you money after that. A writer’s platform is simply your own marketing funnels, your own ideas and how you find new readers. That’s a little bit different than your business plan.

One important distinction when it comes to a lot of this is that you can build a book in your business plan that makes you no money but is at the top of your marketing funnel as a freebie to collect different emails. This is one marketing strategy that I’ve heard a lot of writers use and it really depends on how you want to do it in your own book market.

That’s another thing that needs to be through through and in consideration is your particular book’s market. If you’re market is for non-fiction you will have an easier time breaking in with specific keywords, where as if your book is in fiction there’s a lot of fiction out there and it’s really hard to give away the key idea or key flavor of your book without giving away the whole reason why they buy it. You almost have to tease them into it, but there’s a huge difference.

A niche book most people are going to buy an “everything” manual. There going to buy one manual and that’s going to be that. Where as in a fiction series there going to buy over and over and over and over again. So while the acquisition to bring a new person is much more difficult in fiction, because it’s harder to separate yourself from the market if you don’t have keywords, or as many keywords, it’s much easier to sell larger quantities once you have an engaged audience.

So building a new platform for a fiction author is going to be much more crucial, than a non-fiction author who can simply exploit a keyword and exploit a small niche and their good. So again, the strategy needs to determine how best to approach that. Furthermore, your business strategy needs to look at how much of each particular asset your going to have in your portfolio. And I don’t say back catalog, I say portfolio because ultimately each one of these different products is an investment. It’s an investment in time, it’s an investment in energy, and a fiscal investment.

You have to pay for cover costs or marketing or social media, everything. So you’re portfolio of different products should enter into your business plan overall. That’s one of the key differences behind building a platform and building you’re marketing strategy, or you’re business plan. So, this is my first video, I don’t know how well it will work, but we will see. And then I will hopefully know what to expect from this process. So, James out!

Difference Between Author Platform and Business Plan