Is there a difference between being an author versus running a business as an author? In this interview with Joanna Penn, we discuss some of the important shifts that happen when you begin treating your writing (and/or your art) also as your business.
We also cover:
- The trade-offs that can make full-time writing possible
- The business models that writers are using these days
- The commonalities of authors making over $100,000 per year
- Understanding the profit and loss statement for your book
Joanna offers up our interview in three ways:
- A 45-minute video you can watch
- A transcript at her blog
- An audio-only version (at the top of the page)
I’m grateful to Joanna for inviting me as a guest on her series, and hope you find some useful takeaways in our discussion.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
Two of my favorite writing bloggers together in one place! Thanks for a terrific interview. My favorite part: “When you realize that you have to start saying no, I think that’s a major turning point for a lot of people…” (Jane). I’m right there, at the beginning of the turning point, and it feels just scary enough for me to know it’s right.
Regarding royalties for multi author books:
Since most authors who self-publish probably already have an account set up with their banking information, it seems the retailers could set up a split payment option that would automatically divide payments.
The book could have a special log in screen where everyone contributing to the project could enter their information. The screen would only show that author their account information, but it could allow for a “Do you have the right to publish this material” during the publishing process that all the authors would be able to agree to.
Great conversation. Thank you!
[…] Being an Author vs. Running a Business as an Author — Jane Friedman writes about the important shifts that occur when you begin treating your writing as your business. […]
Excellent stuff!
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