Last updated on August 7, 2023
When I decided to start my own business, I took a course, just one, and learned a lot. When I started the writing business, I said, “Eh, I’m good.” Boy, was I wrong. I have learned so many lessons and spent a lot more time on the business end of creativity than ever I wanted to. But, you, my lovelies, will get to have the benefit of my very curvy path, to hopefully keep you on the straight and narrow to making millions!
All I ask is that you remember me when you are big-time, and, well, TAKE ME WITH YOU!
I haven’t even looked at the poll. You probably wanted to hear about my cats, or some other goofy shit I put in that poll. Alas, I felt this information would be more useful, and well, get me a gold star for the day.
We’re going to talk about business steps necessary to protect you as a writer, and maybe, live shows, but I’m wordy, so we’ll see.
The very first thing you should do to protect yourself if you want to have a secret identity in writing is purchase a mailbox at the post office.
The second, and more important, is to create an LLC to hide behind.
The third is to pick a pen name nowhere near your own name.
Four… PROFIT. 😉
Why are these three steps so important?
I’m glad you asked. You didn’t, but hey, it’s MY blog! It’s important because the LLC protects you from losing all your things to legal action. They can only get what the business has, and if that’s nothing, well, nothing x nothing = nothing.
The second reason to use an LLC is for filing your copyright. If you head over to copyright.gov/public-records/ and put in the title of your favorite book. Below are all the data points it provides. In Rights & Permissions it will list your full legal name, address, phone numbers associated with you, and your email address. All open for public consumption. So, having an LLC with specific information protects your privacy. This is often how teachers are found with their naughty pen names.
· Type or Work
· Registration Number/Date
· Application Title
· Title
· Description
· Copyright Claimant
· Date of Creation
· Date of Publication
· Authorship of Application
· Rights and Permissions
· Copyright Note
· Names
My blog post is becoming an essay. Curse you technical writing class! Okay. Now that I have frightened half you, take a deep breath.
Let’s talk about fun stuff. I’m lying, this is all business too, but it’s more fun for me.
I do in-person events. I haven’t done a book signing event yet, but I have done comic cons, anime cons, craft fairs, and book expos. All have been a blast and I sell books (and swag) at them. Well, I was happily going along and doing events, not fully aware of how much money I am making/losing. I know, bad business J.R., no gold star.
Mr. F made me start a workbook of DOOOOOOOOOOM. You have to read it how I spelled it or you can’t continue. 😉
I created a show specific page in the workbook. This allows me to see the cost of the show, how much I sold at the show, and if I profited or lost. Spoiler alert! I’m losing about 150 as of today. Now, let me clarify this as it also showed me I have made about $4000 in book/swag/craft sales since 1/1 and am on par to make close to $15K on the in-person sales. All this happens if I smartly plan my trips, keep my food costs down, and be thrifty on the hotels. For example, I am in a show in Columbus, OH next month. I -could- drive back and forth each day. It’s about two hours and thirty minutes from my house. But that makes for a LONG day. So, I will get up at 5 AM on the first day, drive over to get there in time for setup, stay the night at a hotel, and come home after the show ends on the following day.
Hold onto your emotional support readers, we’re doing math.
The table cost me $150.00.
Hotel costs $109.35. Yes, I know there are cheaper rooms, but my booth buddy (which you should have at every show) is not Mr. F and while MomLady would share a bed with me, I’ll be more comfortable on my own! Also, I’m kind of picky about my hotels. MomLady and I tried a La Quinta one time… IT WAS BAD. We have digressed.
It will cost about a tank and a half on gas to get there and back, plus driving to/from hotel. Based on my previous trips that long that’s $65.00.
Mr. F and I agreed that until the business is stronger we will not count food as a show cost unless I use cash from the drawer, or my business card to pay for it. So, for now it’s $0.00.
So, $150.00 + $109.35 + $65.00 = $324.35 just to break even. I average about $200.00 per day at an eight-hour show. If this remains true, then I will make $75.65. That may not seem like much, but it’s profit.
Other columns that fall in the show spreadsheet are Tolls & Parking, and Other. We do not count inventory costs/supplies cost as part of show cost. They are counted in the business expenses because they are not show specific. This includes, books, yarn, kit supplies, signage, and freebie swag.
I recently did a show in Peoria, IL. I was very excited for that kind of show so close to home. Indiana is like the blackhole of the universe when it comes to book specific shows. Anyway, Peoria had 29 authors and 1 audiobook narrator. It ran from 10-3 on a Saturday at their convention center. We had maybe 50 people attend in total. I sold $81.00 worth of merchandise to ninety-five percent of the attendees and to some other vendors. I traded one Mistress Giselle for two other paperbacks, and I gave one eBook set to the vendor who helped me get my wagon across the street. I should have driven up the day of the show but was nervous. It’s three hours from home, and I didn’t want to get caught in traffic. So, I spent $100.00 on a hotel and had an easy morning. Had I driven I would have still been in the hole by $70.00 with gas and food costs. Anyway, it was a good lesson to learn, and a positive experience still.
Sometimes success isn’t all about profit.
Networking is as key as sales, and I made a friend in the audio narration business who clued me into the rates others were offering me were beyond outrageous without any credentials to back them. I also am going to do interviews with another vendor there who has a pretty big network, so that’s exciting.
I’m already looking forward to Fanboy Expo in Knoxville. My very first show was Fanboy Expo in Indianapolis. I wish it had been better for them, and that they would come back to Indy, but Knoxville is only five or so hours from us, and it’s their home base, so I’m hoping to make some decent money.
Gen Con is also on the horizon and all of my classes have sold out. If all of those people attend I will make close to $2000.00.
So, it’s a learning curve. You have to find the shows you will excel at. I happen to write in enough different genres that I hit all the nerd categories, and their mothers (who bring them to the conventions).
Oh, so I guess I should add, making a spreadsheet of DOOOOOOOOOM is critical as well.
You track your inventory, costs, sales, and anything you need to track to find your gold star. It has been really helpful to me to see where to focus my energy on crafting, along with writing. For example, the Space Opera I had slated for NEXT YEAR is now getting bumped into the 2023 rotation. Stop panicking, Three Glass Coffins is still next! I just won’t revisit Savannah Nights or Wolfe Legacy until after the Space Opera. It also pushes back the other stories in priority too. But, since I’m writing full-time, hopefully I’ll get my butt in gear and start cranking them out like hotcakes!