For Lesson 123, Mr. Emmons gave a worksheet with questions to answer about our chosen business. My chosen business is to self-publish my fictional novels on Amazon Kindle.
- Value Proposition
[I write Young Adult romance books for teens/young adults.]
- Market Need
[My goal is for my book(s) to be a stress reliever, for those who need a break from reality. Or a source of entertainment for those who want a break from electronics.]
- The Competition
[Well known authors charge $9.99-$12.99 for their books. Less known authors charge $8.99 and lower, but charge $9.99 for books that are more popular. My books will be from the range of $4.99-$7.99.]
- Target Market
[Teenagers (aged 13-18), preferably female or those who can relate to a female mindset.]
- Financials: Budgeting & Forecasting
[Each book will be priced at $4.99, but I will only get $1.50. For the first year, I want to sell 100 books in the first year. When I finish a series, I will expand into physical books and sell them in a set. Each physical book will be $15.00, I will get $12.75. I will sell a three book set for $30.00, and I will get $25.50 from each set bought.]
- Marketing Activities
[I will use Tiktok as a way to get my book known and get people interested.]
- Sales Channels
[I will regularly post excerpts, scenarios, and aesthetics on Tiktok.]
[Start writing novel by the beginning of 2023. Have Amazon account set up by June 2023 and Tiktok account active and set up by September 2023.]
- Your Team
[I am the author of the book, therefore I am the best person to start the marketing procedures for the first few months. A book cover designer will be hired in month 9 or 10. A marketer will be hired in month 13 or 14.]
- Funding Needs and Use of Funds
[$100 to cover book designer and marketer with some to spare.]
4 thoughts on “Business 10, Lesson 123 – My Business Plan”
You are not in one of the countries allowed to have the 70% royalty option, me too, I’m sad…..
I also chose the publishing business as my business in the business 2 course.
I did my book cover myself for cheap (and I’m proud of it LOL), who are you planning to pay to make yours?
Marketing ughh…. I haven’t thought about that, besides TikTok do you have any other places?
Sadly romance books are not my thing at all…..LOL
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Oh no! I didn’t realize my country isn’t allowed the 70% royalty plan. I’ll have to figure that out 🤔
That’s really awesome that you made your own cover. I plan to hire a graphic designer from Fiverr to create one for me. I think in my case, it’ll be better to let someone else do it 😅
At the moment, I do not have any other platforms besides Tiktok. When I get further into the writing process, I will take more time to research other ways to market.
Romance books aren’t for everyone! I just have an unhealthy obsession 😆
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Sorry I read the amazon ebook royalty page wrong, I thought it says that only the publishers in these countries can get the 70% royalty rate, but it really says that you only get the 70% rate from people who bought in a certain list of countries. Sigh of relief……….
Here is the link to the ebook royalty rate: https://kdp.amazon.com/en_US/help/topic/G200644210
I mean I made a book for a theological book named “Out of Egypt” so do you know what is my book cover……………..Moses Parting the Red Sea, it’s cool…….it looks more like a fiction book cover than a theological book cover LOL
I really need to start thinking about marketing, I am planning to publish the book in December hopefully……
I am not publishing my own books, never finished one to tell you the truth LOL
I am REALLY SORRY…..for giving you false information and unnecessary sadnesss