entreauthor

Tools for entrepreneurial authors.

Rule Three: Follow a Business Model.

Rule One   |   Rule Two   |   Rule Three

“There is nothing quite so useless, as doing with great efficiency, something that should not be done at all.”

― Peter F. Drucker

Authors can run in a million different directions trying to make a little money to sustain their work. They throw up affiliate links and try to sell information products. They sign up for free book giveaways or offer their books for free at random times throughout the year. They dabble with public speaking or set up an online course. They are constantly trying to “recreate the wheel” when the wheels are already created for them.

There are already a set of commonly used business model frameworks or types of models that most authors fall into. These business model frameworks include:

  • The Prolific
  • The Freelancer
  • The Speaker
  • The Consultant
  • The Advertiser
  • The Producer
  • The Organizer
  • The Teacher

Want to know more about each one of these business model frameworks? Send in an email for more information.

What is a business model? According to Josh Kaufmann, author of the Personal MBA, a business is a repeatable process that makes money. A business model, therefore, is a description of those repeatable processes within an organized system of actions.

What is a system? According to Michael Gerber, a system is “How we do it here, documented.”

It is absolutely crucial that, as authors, we organize and commit to a certain number of high performing, repeatable actions that will help us reach and audience and sustain our work as artists.

Without Rule Three

Blogging, social media, launches, KDP Select, Bookpub, giveaways, webinars, podcasting, guest posting, landing pages, email lists . . . the list goes on and on. There are so many things you could be doing to grow your audience and develop your author-business, but which things should you focus on the most? And when?

Without following a business model, you will find yourself chasing the latest and supposedly greatest new strategy that is going catapult your books into bestsellers. Then, when the activity doesn’t seem to work, you’ll move on to the next big thing. All the while your time is gone and you have little to show for it–other than stress and increased self-doubt.

With Rule Three

Focusing on a business model helps you think strategically and systematically about how you should be spending your time outside of writing. Following a business model allows you to concentrate on the process and not the results. If something doesn’t work the first time, rather than freaking out and abandoning the tactic, you trust in the model and continue pushing ahead. If things still don’t work for you, maybe it is time to pick another business model.

When you focus on a business model and not tactics and strategies alone, you commit yourself to the long-term. You are working on a system without getting too far attached to just one way of doing things. Your focus is on the reader and providing the best value possible in the most efficient and effect way you can.

At the end of the day, you don’t have to worry about what you are not doing. You trust in the system and experiment on what works. If you fail, you work on the system rather than take it personally.

Why It Works

“We don’t make movies to make money, we make money to make more movies.”

― Walt Disney

 

Rule One makes Rule Three a necessity.

Focusing on a model rather than money, frees up creative energy.

Following in the footsteps of others, making it as a writing goes from dream to reality.

 

How to Make It Happen

“Efficiency is doing the thing right. Effectiveness is doing the right thing.”

― Peter F. Drucker

Whether you use a business model focused on writing lots of books or connecting with your audience in other ways through products, services, or speaking and teaching, every business model can be simplified into a few common steps. I like to use an acronym “KLBSS” to help remember the most essential goals. What is KLBSS?

You want people to . . .

  1. KNOW who you are.
  2. LIKE what you do.
  3. BUY what you offer.
  4. STAY fans for life.
  5. SHARE you with others.

Every single activity you do–whether it is writing another book, writing a blog post, accepting an invitation to speak, setting up a landing page, or setting up your Twitter profile–everything should be directed toward achieving one of these five goals. Your goal in following a business model is creating a system that enables you to reach each goal: KLBSS.

That means, you will spend a lot of your time outside of writing testing out ideas and activities that you think will help people know you, like you, buy what you offer, become fans, and share you and your work with others. Find what works and stick to it.

Most of all, develop your own system or playbook in order to achieve each one of these goals.

Books that Will Maximize Your Time with Systematic Success