Preparing for 2017: Business Plan

At the end of every year, I write a business plan for the following year. (I also usually update it six months later—sometimes even earlier, depending on how things go.) I’m no expert on writing business plans, but after five years I’ve got a system that works really well for me.

Usually, my business plan consists of eight parts: goals, marketing, platform building, 2016 year-end inventory, monthly sales goals, budget, and schedule. This year I also included a section for Booktrope, the small press I was with that closed.

A few days after I wrote my business plan, I also updated my quality control checklist for production.

I’ll break down each section with a little overview.

Goals

I work much better when I properly write down my goals. There’s loads of information out there on how to set goals. I have a system that works really well for me. Basically, I make them actionable and set a deadline.

In the past, my yearly business goal was “Make a full-time living.” While that is my end game, it’s not a very good goal because it’s pretty ambiguous. This year I focused on smaller goals that will actually get me there.

  • Re-launch and refresh existing series and titles in catalog by February 28th, 2017. Basically, this just means inventory: updating covers, doing more Amazon SEO research, updating keywords, and re-formatting all ebooks in Vellum.
  • Get all paperbacks back in stock by March 31st, 2017. Not having paperbacks has hampered me so much more than I thought it would! I’m formatting them myself, which is slow going but I’m excited to be working on this.
  • Pay all Booktrope team members and remaining royalties per agreement by June 1st, 2017. Long story short, when the small press I was with closed, they left it to authors to settle up with creative team members*. My team members have been really cool about the whole thing, but I still haven’t been able to pay them. In 2017, my plan is to pay one member every month.
  • Finish writing and publishing all currently open series by August 31st, 2017. All this means is finishing any series currently unfinished, that way in the second half of the year, I can write a new series!

I broke down each of these goals into action steps in the schedule section.

I also set five- and ten-year goals. Those I won’t share, but suffice it to say this summer I had a major epiphany of the direction I want my business to go in. Both of these goals are also actionable and clear.

Marketing

In the marketing section, I outlined a general marketing plan for my business. I won’t get into details to spare my wrists, but I strongly recommend you read Let’s Get Digital by David Gaughran and Write to Market by Chris Fox. I’ve also started reading How to Market a Book by Joanna Penn.

The gist is, I’ve figured out where I’ve been wasting time and money, and focused my marketing plan on tasks with better return on investment (ROI).

Platform Building

Speaking of paring down, I recently realized that I needed to take a break from social media in order to better focus on my health and business. Not surprisingly, going dark on Facebook and Twitter has worked wonders! That’s a whole other blog post, though.

Right now I’m not using much social media at all—just Instagram and Pinterest, very sparingly. I’m scheduling posts in HootSuite when I have something important to share, and blogging only when I have time. I’m not checking notifications on Facebook and Twitter at all, and only checking Instagram comments every few days. If that!

My main focus is on my email list. I’ve started creating funnels by setting up individual lists for each standalone or series. For example, when I released Just One More Minute, I created a list just for those readers to join. They’ll get exclusive goodies, and a heads up when the companion novel is available. I’ll also send them emails about other books they might enjoy.

I’ll revisit the idea of regular social media use in the new year, after I’ve got my health a bit more under control and I no longer have to limit computer time to save my wrists.

2016 Year-End Inventory

In a nutshell, I made a list of all the things I need to do to tighten up my catalog.

  • update front and back matter for all ebooks, and format in Vellum
  • use Kobayashi Technique to guide readers into appropriate email list funnel
  • update series and standalone covers to better convey genre and story
  • increase full-length titles’ pricing from $2.99 to $3.99
  • research and update Amazon keywords for all ebooks
  • enroll South of Forever series in KDP Select

A note on pricing: I started with Just One More Minute, which released at $0.99. It sold really well at that price, but flatlined as soon as I raised it to $3.99. I’m now reconsidering. $3.99 may just be too high for my books right now.

I broke it all down even further in the schedule section.

Monthly Sales Goals

Setting sales goals was probably the hardest part of writing my business plan. I really want to get back to a part-time living—ideally, being able to pay my rent with my royalties. That would be sweet, but I struggle with setting monthly sales goals because if I fall short, I take it very badly. I try to be realistic, too, which makes it even harder when I don’t make it.

For that reason, I left this section for dead last. I also needed to finish putting together my schedule first; I needed to take into account that months with new releases should have higher goals, and the “summer slump” months should have lower goals.

I’m not going to share my numbers here because I’m nervous about meeting them, to be totally honest.

Budget

I did this section after creating my production and marketing schedule for the year, that way I knew exactly what I had to factor in: cover designs, editing, formatting (Vellum), marketing (NetGalley, giveaways, advertising), print on demand, etc.

I created a table with a column for each 2017 release—six!—and calculated each release’s total expenses. I also added at-a-glance rates for the services I’ll be using, factoring the highest possible for each item. And I left myself a note to remember to get in touch with a designer I’ve been dying to work with.

I tried not to focus too much on the totals; I created a schedule specifically so I could plan ahead, and also built in other options in case certain elements don’t fit my budget (*cough* Bookbub *cough*).

Schedule

This was my favorite part. I’m so excited about all of the projects I’m going to write and release in 2017!

Basically, I created four tables—one for each quarter. Each month got its own column in its quarter table. Something like this:

January February March
Write 1st draft of SOF4 by _____. SOF1 promo. (Bookbub?) Release SOF4 on _____.
Submit SOF1 to NetGalley for February by _____. Submit JOMM to NetGalley for March by _____. Get all paperbacks back in stock by 03/31/2017.

I started off by slotting releases. To keep momentum going, I’ve been trying to release something new every 2-3 months. More would be better, but then my wrists might unhinge and my own hands might just pull an Ash and try to strangle me.

Once I got my new releases situated in their general months, I started counting back. I figured in deadlines for writing, editing, and cover designs. And, knowing what I’ll be doing for marketing, I included promotions and deadlines for submitting to advertisers and other services. Of course I had to do some wiggling around to make everything fit well, without overburdening myself. I didn’t schedule exact dates for everything, either, that way I’ll have a bit more flexibility than I have in the past, and won’t have to keep updating the sheet every time something gets thrown off.

I’ll still revise my business plan—probably in the spring or summer, depending on how things go—but I’m really satisfied with my schedule.

I also color coded a bit. New releases are highlighted in yellow, advertising promos are highlighted in gray, and I made NetGalley promos red. This way, I can see the super important things at a glance.

Booktrope Team Royalties

Finally, I added a section for my Booktrope creative team agreements (CTAs). All I did was list each team member, the payment we agreed upon, their contact information, and their preferred payment method. I also totaled up the entire payout.

My goal is to pay one team member every month starting in January—starting with the smallest amount and progressing to the largest. I was inspired by a savings plan I saw on Pinterest; breaking things down into more manageable chunks is much less overwhelming, and to be honest, I’m still quite stressed about how things went with Booktrope. But I’m trying. I’m perhaps stubbornly determined to do right by my team.


My business plan was pretty simple to write, but I’m really proud of it. It’s meant to be a road map to keep me on track so I won’t get distracted by shiny project ideas or my own doubts and frustrations. It’s 11 pages long, including a table of contents. I printed it out and I can’t stop looking at it with excitement, haha.

2017 is going to rock!


*Whether authors were actually legally required to continue the CTAs is debatable; I just wanted to compensate my colleagues for their work, since the publisher basically left us all high and dry. Unfortunately, because I have a chronic illness and can’t work a full-time job, I haven’t been able to make any payments. Booktrope’s collapse was stressful, to say the least—even six months later.

Preparing for 2017: South of Forever Series

In my last post, I mentioned that I was re-designing the South of Forever series covers, starting my annual year-end inventory, and getting ready to write my 2017 business plan. Since all of these things kind of tie into my “Preparing for 2017” plan, I thought I’d split them up into three posts. Today I’d like to talk about my South of Forever series.

The Problem

Plain and simple, the series just hasn’t been selling like it should. With three books out, it should be moving—especially when the first in the series was permafree. Even with ads, that free first-in-series just wasn’t moving like it should.

Without getting too mushy, I’m damn proud of this series. These books were where I really found my writing voice. I know with every book I write I’m getting better and better, but this series for me is a hallmark in my career. It survived my small press publisher going under. Its small but loyal tribe of readers love it. I couldn’t just let it die a slow death.

I sat down and thought really hard about this series.

The Covers

Ultimately, I realized my lack of sales is probably because of the covers. The original covers weren’t bad. They were stunning! But they didn’t appropriately reflect the series genre—rockstar romance (RR). They also looked like a YA series. My husband Mike, a mixed media artist, pointed all of these things out and I couldn’t agree more. I want to stress that I really loved the original designs and think the cover designer who did them is rad, but business is business. I had to try something new.

But… I couldn’t afford to hire anyone to redesign the covers. There was a new designer I was eyeing, who was offering super low prices to build up her portfolio, but just as I was ready to purchase, her prices went up. Just as I was about to give up, Mike asked me if I was really going to let a little thing like a book cover get in my way. I was annoyed at the time—and also super sleep-deprived—but his words sunk in. He was right.

A week or so later, I forced asked him to sit down with me and look at stock photos for the new covers. I’d redesigned the cover for Just One More Minute; with his help, there was no reason I couldn’t do the same for the SOF series. (I would not recommend the average indie do this; I have an A.S. in Multimedia/Web Authoring and years of graphic design experience. Even still, I much more prefer hiring a designer to handle covers.) I stressed to him that I really needed him to be 100% honest—no worrying about hurting my feelings. This is business, and there’s no room for artist’s ego. 😉 Together we selected some photos, then I spent hours studying RR covers on Amazon. Using the watermarked comps, I made some mockups that I then made asked him to critique. After we discussed them and I made some tweaks, I slept on the designs.

After about another week, I purchased the stock photos I needed for about $10 each, fired up my dinosaur Gateway, and got to work. Even after re-doing the JOMM cover, I was still rusty on my Photoshop skills. Plus I only have CS4, which is so not what I’m used to. (For about a year, I had CC on my Mac, which is the monthly subscription with the latest updates. I got spoiled.) Still, as the Celine Dion song goes, “It’s all coming back to me now.” Mostly.

I spent hours looking at typography and trying to find fonts that most suited the series. The ones I chose weren’t exactly what I had in mind, and I still kind of want to change them, but I had to “be done with it,” as artist Skye Taylor advises in his videos. Once I finished, I forced asked Mike to critique them. I also begged sent them to my photographer friend. The consensus is that SOF2 is the least strong of the three. While Mike chose that stock photo for her moody expression and kick-ass dark lipstick, my photographer thought that cover looks more like a suspense novel. She’s right, but finding a stock photo to represent my Boricua/Mexican-American Savannah and express the mood of the story was really difficult. SOF2 is the most suspenseful of the three in the series, so the new cover will do for now.

Check out the new covers! What do you think? Let me know in the comments.

Update, 12/11/2016: Since I hit publish on this post, I’ve actually tweaked the covers again. (Yup—I changed the series title typography. Couldn’t help myself! I also changed the stock photo for SOF2. Much better!) See the updated versions below!

Getting More Eyeballs

New covers alone wouldn’t refresh the series, though. I needed a fast way to get it back on track—and I needed it to be at little or no cost.

Enter Kindle Unlimited.

I’ve long avoided Kindle exclusivity. Oh, I’ve played with it a little—with mixed results—but never for long. I have a strong aversion to putting all my eggs in one basket (especially since I do well at other retailers like Kobo).

But the consensus among indies seems to be that KU is a fantastic short-term business plan for new or new-ish authors. The key word being “short-term.” It’s not smart to rely entirely on Amazon for your business’s long-term income. I won’t get into details here on why exactly KU is good for authors; you can find plenty of information about KU pros/cons on the Kboards Writers’ Cafe and Google.

I’m using KU as a tool to refresh the SOF series and give it a boost. All three books in the series are now enrolled in KU for the next 90 days—until March 8th, 2017, to be precise. When that term is up, I’ll make them wide again. Then I’ll release the last book in the series at all retailers.

Refresh, reset, renew!

Another perk of being in KU is that it gives me a small pool to test those new covers in. Rather than having to tweak and re-upload to half a dozen retailers, I can make changes to the covers—and other meta data—and test again in KU.

The Prequel

Moving copies wasn’t my only problem. The series actually spun off from a series of novelettes I released in 2014: the ESX series. Originally, ESX was supposed to be a comedy about a boy band singer named Koty who desperately wanted to be a rockstar. Then Jett stomped onstage in her boots and stole Koty’s heart—and the show. It wasn’t supposed to be a romance, but those two fell in love, and I fell in love with writing romance. And, once Jett and Koty achieved their personal goals, I realized there was a whole new story arc to write about them: the South of Forever series.

However, ESX didn’t have a happily ever after (HEA) or even happy for now (HFN) ending that is a requirement of romance. It sold well as a series of six in the comedy category, but when I gave it a new title (Playing for You) and made it the official prequel to SOF, it didn’t quite work. Readers expected a HEA/HFN ending for ESX/Playing for You, which they didn’t get, and weren’t thrilled when they found out there was another series—or at least Diving Into Him—to read to get the satisfying ending they wanted.

Even if I made the prequel free and then SOF1 free, most readers didn’t realize there was a prequel. Amazon and the other retailers have no system for prequels in a series; you can mark a book as #0, but it won’t show up on your retailer series page. Their setups just don’t work that way. So most readers were picking up SOF1 and then scratching their heads, because it felt like there was something they were missing.

I thought about changing the ending to the prequel to make it a HEA/HFN, but then I’d have to change the beginning of SOF1 and that still wouldn’t solve my series order problem. The only solution was to get rid of the prequel as a separate novel; I decided to include it in SOF1 as a free bonus right in the file—no jumping through email list hoops.

Now readers who buy SOF1 will get ESX for free. It kills several birds with one stone, and there’s a benefit I hadn’t even considered: SOF1 is now twice as long, which equals more page reads in KU. This totally wasn’t on purpose, but it’s a nice bonus for me. And it’s completely legit. Score!

Pricing

Another difficult decision lay ahead: to change my prices or not? Before my re-launch, my price points were:

  • SOF1: free
  • SOF2: $2.99
  • SOF3: $2.99

Upon some research, I discovered the majority of rockstar romances are $3.99 each or more. Sometimes the first in series is free or $0.99. Sometimes it’s the same price as the rest of the series.

I wrestled with this.

I’d like to keep SOF1 permafree, but KU doesn’t allow permafree titles (at least, as far as I’m aware). KU subscribers can binge-read the entire series at little risk, but non-KU Kindle readers are paying out of pocket. I’m still a relatively new author, which will always make a reader hesitate before one-clicking. The books have good reviews, which helps, but I worried a $3.99 price point for a first in series would make readers hesitate even more and pass over the book.

If I made SOF1 $0.99 though, I risked not getting into Bookbub.

Ah, yes. Bookbub.

The other piece of my plan—assuming December results in lots of SOF sales and KU reads—is applying for a Bookbub in January. Bookbub is more likely to accept deeply discounted books. For example, a book that’s regularly $3.99 but on sale for $0.99 or free will really appeal to Bookbub’s audience of hungry readers. I plan on running a free sale for SOF1 in February to get the series up in the Amazon charts right before I drop SOF4 in March. If I get rejected by Bookbub—which is likely, considering the volume of submissions they receive—I’ll go with another advertiser with good ROI, like ENT.

In the end, I made the choice to raise the price of all three books to $3.99 each. I’ll use my Kindle Countdown days to run my free promo of SOF1 and, when the series comes out of KU in March—provided it does well in the interim—I’ll make SOF1 permafree again.

But I’ve got to try something new. Right now, permafree SOF1 is averaging two downloads a day. That’s pretty poor for a subgenre with a large audience of voracious readers. I just know it’s the cover making people hesitate, because it doesn’t look like rockstar romance. I’m hoping with the new cover, non-KU Kindle readers won’t hesitate—even with the $3.99 price point. And if they do, I’ll try again with them in a couple months with my free promo.

Keywords

The only thing I haven’t changed for the SOF series are the keywords. My last round of keyword research was in September. The series was ranking well in Amazon search results for things like “rockstar romance,” so I decided not to change any keywords at this time. It’s still ranking well, but I think readers are passing it over because, again, the covers don’t look like RR. My experiment is to see how well the new covers perform; I didn’t want to change keywords that are already doing their job.

I’ll revisit keywords again in the new year, once I’m sure the covers are performing well, if sales are still slow.

The Official South of Forever Newsletter

Finally, I updated the SOF series back-matter. This included a more current “also by” list, with the Just One More Minute novel and upcoming Christmas novelette buy links. It also included a dedicated SOF email list, rather than the general email list I’ve been using.

The problem was, with a low budget, I couldn’t afford to set up autoresponders. Ordinarily, I’d create a segment for my email list and lead SOF readers through a chain of emails with exclusive series extras, excerpts from subsequent books in the series, and more. So I had to figure out a workaround.

It’s going to take a bit more time, but I ended up setting up a completely new email list. I did this for Just One More Minute, promising readers I’d send them a free story set six months after JOMM if they signed up. (This is the Christmas novelette I mentioned; it’ll be free just for my email list and $0.99 everywhere else. Perks for my readers!) This is also what Nick Stephenson refers to as a reader magnet. The JOMM list has already generated more signups in a couple weeks than my generic “get updates” list has in the past month.

For SOF1, I promised readers exclusive bonus content. I wasn’t specific, which I need to change. My plan is to send them “Where Are They Now?”-themed stories about the ESX members (Dev, Johnny Z, and Benny), plus some other fun extras that answer burning questions not addressed in SOF1. One of these questions is “Why did Perry leave King Riley?” but since that’s part of the series arc and going to be answered in SOF4, I have to think of something else. This is also known as the Kobayashi Technique.

In the meantime, readers get instant access to the first five chapters of SOF2. My hope is to ensure read-through of the rest of the series. I know read-through rates are never 100%, but I’d like to get as close as possible.

I’ll also send them book recs, promo notifications, and give them first dibs on SOF4 ARCs.

I’ve thought about this whole thing a lot, and though most of it had already been kicking around in my brain, I was able to create a solid marketing plan for the series after reading David Gaughran’s Let’s Get Digital. Basically, this re-launch plan is the culmination of five years of mistakes—mistakes I’m not at all bummed about, because they taught me much.

I’m an arrow shooting forward!

Into the Unknown

As I write this, the SOF series is down from all wide retailers and updates are publishing in my KDP dashboard. Changes are slowly flipping on the books’ pages. SOF2 and SOF3 are advertised as KU books. SOF1 is still permafree.

SOF1 has been averaging two downloads a day on Amazon, with a tiny handful of sell-through on SOF2 and SOF3. My goal is to generate a part-time income of $500 a month; I know I can anticipate this, because authors writing similar series are reporting much higher incomes. Still, I’m not expecting an overnight miracle.

My new covers might not be as genre-appropriate as I think. The women on the covers might throw off RR readers who are used to covers featuring male rockstars with tight abs and electric guitars. Designing for this series is tough, because the main characters are the bad-ass belles of the band—the women who are really the force of nature behind the music.

Jett, the vocalist who doesn’t want to sacrifice the integrity of the band for the feelings she has for guitarist Koty.

Savannah, the artist who gave up her own career so that keyboardist Max could move to Boston and join the band.

Poppy, the band manager who sort of kind of lied about her experience so that she could get the gig—and drummer Griff.

Krista, the music journalist who desperately wants her own column and tortured, distant bassist Perry.

It’s not your typical RR, but the sex is just as steamy and the band plays just as hard.

With a little luck and the elbow grease I’ve applied, I’m hoping readers will find it refreshing, devour it, and tell other RR readers to “dive into this book now,” as one of my reviewers wrote.