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How to Start a Publishing Company: 2024 Guide

You can start your own publishing company with these simple steps:

• Develop a business structure (usually an LLC)
• Choose the name and location for your company
• Register your business
• Obtain your EIN and set up a business banking account

Want more detail? Keep reading. This article is detailed, informative, and easy to comprehend — even for someone who was as legally inept as I used to be.

• If you should set up a publishing company
• The benefits of setting up a publishing company
• How to set up a publishing company

Table of contents

• What does a publishing company do?
• Should you start a publishing company?
• Benefits of Starting Your Own Publishing Company
• When should you start a publishing company? 
• 6 Steps for Starting a Book Publishing Company
• Setting up a Publishing Company with MyCompanyWorks
• WCU’s Publishing MA Program
• And don’t forget to check out my podcast where I spoke with my lawyer about publishing business structure.

A publishing company sells and distributes books (and magazines, newspapers, digital content, etc.) They may contribute to the editing process to ensure their published content is up to snuff. The publishing company decides what kind of marketing (and where to advertise) will best help sell their books.

Starting your own book publishing company is a crucial step in boosting your author brand, selling other people's books, or protecting yourself and your assets.

For many people, establishing your own company can be confusing, tedious, and downright painful. To be honest, it’s a lot of work.

Thankfully, this step-by-step guide will help you determine if you should start a publishing company and show you how to achieve such a daunting task.

Let me make 2 disclaimers:

• Although I have a lot of experience setting up LLCs, including my own book publishing company, I am by no means a lawyer or CPA and cannot speak on their behalf. If you have any questions, it is best to seek legal advice before moving on. This article does not constitute legal advice and should not substitute for the advice of an attorney.
• Some of the paperwork and legal steps listed in this article are pertinent to the US only. Each country will have its own laws for setting up such things. Many of the steps and recommendations below will be relevant to your startup, no matter which country you’re in.

There are 3 primary reasons to start a publishing company:

• Financial protection

Of course, there are many reasons to start a publishing company, but these are the big three. For example, if you want to publish other people’s books, you can do that without an LLC. But if you do establish an LLC, you are protected and legitimate.

With today’s publishing platforms, you don’t have to start a publishing business to publish your own work or even other people’s stories.

However, starting a publishing company has several advantages. Here’s a more detailed list of reasons you may want to establish your own publishing business:

• Conveys professionalism and expertise
• Protects yourself, your work, and your personal assets in case of a lawsuit
• Manages of your intellectual property
• Allows for certain tax write-offs
• Maintains control over your work
• Gives you access to more than one Amazon KDP account
• Shifts your mindset from a hobby writer to a business owner
• Fulfills your dream of being The Boss/CEO/Founder of your own publishing company
• Establishes a legal entity to contract co-writing and licensing properly
• Facilitates future opportunities to publish books by other authors

How do publishing companies make money? Publishing companies make money by taking in book sales, minus the royalties they pay out to authors and other artists. Royalties are 100% negotiable.

There are 6 excellent benefits to starting your own publishing company:

• Tax benefits, write-offs, and more
• Liability protection
• Increased credibility
• Ability to expand your brand
• Double the number of KDP accounts
• Co-writing and licensing

Of course, I could go on and on about the benefits — like being your own boss. But I’ll just take you through the main benefits, then along to the step-by-step process.

1. Tax Benefits, Write-Offs, & Wealth Building

Yes, there are tax benefits to having your own book publishing company. When April 15th approaches, you can write off a surprising number of business expenses.

A company helps you differentiate between your personal income and business income. All those business write-offs may save you a lot of money during tax season.

If you have your own company, I recommend getting a tax accountant (the fee for whom is a tax-deductible expense) to help prepare your taxes. During the year, an accountant can help you make the best choice in certain situations to take full advantage of the tax code.

The most common tax-deductible business expenses:

• Salaries, wages, and contract labor
• Most insurance policies
• Vehicle expenses
• Office internet
• Supplies and office expenses
• Business meals
• Advertising and marketing
• Accounting fees
• Interest on the business-related debt
• Conferences
• Rented office space
• Home office
• Property purchased for business use
• Depreciation on that property

Saving money on taxes isn’t just about short-term gain. The benefits of establishing a publishing company allow you to see this business as an opportunity to build wealth and plan for retirement.

2. Liability Protection

Starting your own publishing company gives you a certain level of liability protection. If someone sues you for writing-related reasons and you have an LLC, they cannot attack your personal assets — only the company’s assets. There are some cases of copyright infringement though, where the author would be held liable for their actions, but in total there is much more protection for such things.

If you don’t have a company and your book, product, or service gets sued, then your personal finances and a public record will be absolute fair game.

Although it’s rare, lawsuits happen.

Vocabulary time: LLC stands for Limited Liability Company.

Ask me about my own experience getting sued. It was a false claim from a competitor looking to knock my book off the shelf. The world is full of jerks who are willing to lie and cheat the system (shocking, I know).

Starting a company gives you legal liability protection and distinguishes between the business’s finances and your personal finances. The courts, or collection agencies, would not be allowed to come after you — only your company’s assets.

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3. Increased Credibility

When you start your own publishing company, it gives you increased credibility. Even though self-published authors are legitimate, having your own LLC sounds more legit and offers you and collaborators more legal protection.

Sharing that you’re a self-published author can be intimidating — you might have a fear that others will hear that you self publish and assume you couldn’t get published by a “real agency.” 

But sharing that you have your own publishing company, through which you publish your books, gives you a sense of legitimacy.

Credibility isn’t just important for your sense of accomplishment, though. Collaborators, authors, and business partners may also be more likely to work with an established publishing company.

4. Ability to Expand Your Brand

Starting your own publishing business improves your ability to expand your author brand .

Author branding is convincing someone to read your book over anyone else’s. This involves establishing credibility, proving your creativity, and maintaining a professional image that doesn’t distract from those books you worked so hard on.

This process is related to book positioning: convincing someone that your book is right for them. Good author branding makes book positioning easier and vice-versa.

Also, having a publishing company can make it easier to collaborate with other authors . Each author has access to each other’s audiences, expanding both author brands.

Having a publishing company not only adds legitimacy to your career but also allows you to maintain control over your book marketing and lets you expand your author brand in so many other little ways.

5. Double the Number of KDP Accounts

Another added benefit to starting a publishing company is that you’ll be able to create another Amazon KDP account and remain within your rights.

Amazon's Terms Of Service (TOS) state that an author can only have one KDP account.

However, the cool part of owning your own publishing company is that your company would have its own EIN and bank account, which allows it to open its own KDP account within the TOS of Amazon.

So the first account is your personal account, and the second one is the company’s publishing account. Two accounts come with the added benefit of increased author pages through Author Central, and therefore more exposure and the use of more pen names .

6. Co-writing & Licensing

Starting your own publishing company lets you co-write with another person or license another individual’s work while maintaining legal protection, liability protection, and legitimacy.

Going through a publishing company is the preferred method of contracting with others to bind with legitimate operating agreements legally. So it’s good to have your own company.

Having a publishing business becomes your platform for licensing and contracting future opportunities, such as co-writing or publishing someone else’s work.

Keep this in mind for later when we discuss naming your company .

You should start a publishing company if you have over $2,000 in book sales, want to protect your personal assets, want to publish other people’s books, and/or want to take full advantage of the US tax code.

I'll be real with you — not everyone should do this.

If you're just starting off or still see writing as a side gig or a hobby, then don't add the extra steps of starting a company to your already-busy schedule. Instead, focus on writing your book and nailing your marketing.

If you meet any one of the below requirements, I recommend you create a publishing company:

• You make more than $2,000 a month in book sales.
• You write in technical areas or health areas that could put you at risk of legal action.
• You want to publish other people's books.
• You're selling more than just books, such as courses, physical products, etc.
• You're an American citizen, but you live outside of the US and want a base of operations.

If you don’t meet any of these requirements, I recommend not starting your own publishing company.

So you've decided this is what you want to do. Now it’s time to actually start your own business!

Here is a step-by-step guide for starting a book publishing company:

• Evaluate your business goals.
• Develop a business structure.
• Choose a name for your business.
• Choose a location.
• Make it official.
• Grow your team.

That gives you a good idea of what to expect, but let’s dive into the nitty-gritty. I’ll detail each of these 6 steps below.

Step 1 : Evaluate Your Business Goals

The first step in starting your own publishing company is to evaluate your business goals. You need to figure out what your business’s point is — a business plan, of sorts.

A lot of you reading this want to publish your own books through your own publishing company. That’s great. You evaluated your business goals. But go beyond that. Write down a list of goals you can reach for.

For many of us, the goal is to provide extra legal protection and tax breaks.

For some, the goal is to encourage author collaboration or co-author ventures.

It’s smart to estimate what kind of income you plan on bringing in. This helps you plan ahead and lets you compare end-of-year income to expected income.

Ultimately, where do you see your publishing company headed in the next 5-10 years? It’s nice to have business goals set in place so you can aim for specific goals.

Step 2 : Develop a Business Structure 

Before you can start creating your own ebook or book company, you need to decide which type of business structure you would like to make.

There are many different types of businesses. Each has its own pros and cons.

• Corporation : A corporation is a group authorized to manage the company as a single entity. This includes stockholders, a board of directors, officers, company bylaws, etc. Establishing a corporation (S-Corp or C-Corp) requires a great deal more formalities and paperwork than the other items on this list.
• Sole proprietorship : This is a business owned and operated by a single person under their personal Social Security number rather than an EIN (Employer Identification Number). This is the simplest business form, though not the safest. The individual is personally liable in lawsuits. It’s wiser to get the liability protection of an LLC.
• Partnership : This is when multiple people (or entities) officially agree to manage/operate a business together. 
• Limited Liability Company : A Limited Liability Company (LLC) protects assets like a corporation, but with the pass-through tax benefits of a partnership or sole proprietorship.

Most self-publishers end up creating a Sole Proprietorship or an LLC. Here’s a great article that discusses in more depth the difference between a Sole Proprietorship vs. LLC .

In the end, the Limited Liability Company (LLC) is the best one for most book publishers.

An LLC is more flexible in how profit distribution and ownership are organized. It combines the features of a corporation and a sole proprietorship.

A corporation is a lot more rigid in its rules of operation than an LLC.

The controlling document in an LLC is called the “operating agreement.” You may write up this agreement in a myriad of different ways to suit your needs.

For example, your operating agreement may be where you create rules for how money comes in and goes out or for “successor members” (anyone who takes over after you).

An LLC has another benefit: It allows you to tax it as a Sole Proprietorship, Partnership, or S-Corporation. Basically, an LLC is the best of all worlds and fits nicely in the self-publishing business structure.

Chances are, your favorite authors or bloggers often use an LLC to protect their brand and business.

Before you decide which is best for you, do some additional research on each.

To find out more about each type, you can check out the IRS’s resource page on business structure .

Should I set up an S corporation?

Yes, you should set up an S corporation. In other words, you should charter an LLC, then file paperwork that tells the IRS to treat your LLC as an S corporation.

• Business charter — A corporation and a Limited Liability Company (LLC) are business charters issued by state governments and may have state income tax implications.
• Tax election — Subchapter S or an S Corp tax election is paperwork you file with the IRS for the unique tax treatment of a corporation or an LLC.

A business charter and tax election are tools to protect and preserve the wealth you create from your writing. The takeaway is that the S-Corp election would be something you do after you charter your company.

Authors should elect to have their LLC treated as an S Corporation. This is part of a broader tax optimization strategy and wealth creation. Instead of your company paying income tax, the company’s net income passes on to its shareholders to claim it on their personal taxes.

Yet you are still provided with liability protection.

Step 3 : Choose a Name for Your Business

It’s critical to choose a good name for your business that clearly says what you’re about, doesn’t potentially confuse your audience, and isn’t already trademarked or used in your area.

You may consider using your name or your genre, like “Chesson Publications” or “Space Pants Press.” It is a good idea to have backup names ready in case your first choice is not available.

There are 3 things to consider before choosing your business name:

• Make sure it’s not trademarked by anyone.
• Check that it’s not already used by someone in your state if you’re in the U.S.
• Do not use the words “corporation” or “inc.” unless you set up your business as a corporation.

If you’re setting up a Sole Proprietorship, you’ll likely file a DBA (doing business as), also called a “trade name registration” or “fictitious name.”

The good news is that the name availability is state-specific. This means that even though a company called “Intergalactic Press” is registered in New York, you can still use the name if it hasn’t been registered in the state you use to file.

How do you check if your company name is taken? Check to see if your company name is taken by going to your respective state’s name search, by typing “Secretary of State business name search (Name of the selected state)” into Google.

The desired website is often the first result. Start hunting to see if your potential business name is available.

Step 4 : Choose A Location

In setting up the business, you're going to need to choose the State you set up the company in and the actual place of business.

The State of the Business

States issue articles of organization for LLCs (articles of incorporation in the case of a corporation). The first step in location selection is the state of the organization.

For those thrifty business people looking for tax breaks or lower annual registration costs, you may have heard about incorporating in states like Wyoming and Nevada .

A word of caution: The state where you reside and do most of your work expects to be paid income tax . If you live and work in California, setting up an LLC in Nevada doesn’t get you out of California’s income tax.

In fact, doing an out-of-state charter can cost you more money as most states need you to register “foreign entities” to legally do business in the state. Some states are more lenient than others.

Remember, the primary purpose of setting up an LLC is to have the legal separation and protections that come with it. Don’t blow that by not having the appropriate registrations in the state you actually live/work in.

Place of Business

Now that you know your business state, you need a physical place of business where work actually happens.

When setting up an LLC, many self-publishers will make their personal home their place of business since they need a physical place of business. However, this may cause problems down the road.

The address of your business has to be a physical location where legal documents can be served. If you list your home as your place of business, your private information will become public.

In some states, while the owner’s name will be confidential, there must be a registered agent on the public record. You can be your own registered agent in most states, but your own name will be on public record along with your address.

Don’t list your personal home address as your place of business. Do the following instead:

• Rent a Physical Location: Renting a physical location may be nice if you actually need to go somewhere to do your work — for example, if your personal home is a distraction. I don't need to explain that renting is very costly and not a viable option for most of us.
• Get a UPS Mailbox: Most states do not allow you to put a P.O. Box number on the application. Luckily, you can get a UPS mailbox number that looks like a regular address. By choosing this option, you will need to show up in person to set up the mailbox. Once you set up your mailbox, you can have them forward your mail to your real address.
• Use A Registered Agent: Just about every state has registered agents that will act as your office for you. There is a fee associated with this, but it usually includes setting up your LLC as part of the service. This will eliminate your name as the registered agent being on the public record.
• Set up a Virtual Office: Personally, virtual offices are my favorite option. They’re professional offices that give you a specific mailing address, collect your mail, forward it to you, and can be your Registered Agent (an extra level of personal protection). Furthermore, most virtual offices will give you a 1-800 number and record and send your voicemail to you electronically. This option is excellent for those who travel or reside in a state with extraordinarily high business tax rates. You can set it up from your home in a different state or from a foreign country — such as Sri Lanka, as I did.

Step 5 : Make It Official 

Now that you’ve identified your business goals, business structure, business name, and business location, it’s time to make this official!

Below are 7 quick steps to making your new business official:

• Register your business.
• Obtain your Employer Identification Number (EIN).
• Set up a business bank account.
• Set up an accounting system.
• Register your domain name.
• Create a publisher's KDP account on Amazon.
• Schedule an annual business meeting and take minutes.

1. Register your business.

You have 2 main options on how to register your business:

• Do all the required registration and paperwork yourself . Each state has different requirements, so I can’t walk you through those specific steps.
• Or keep it simple and use the services like My Company Works or GovDocFiling to get your publishing company started fast and make sure it’s done right.

And just like that, you could be a President/Owner/Founder of your very own small business!

How much does it cost to start a publishing company? Costs to start a publishing company vary from state to state. Generally speaking, the lowest fees are $50, and the highest is $800. There are usually annual fees due each year. If you plan to use a registered agent, then expect additional fees for those services. Most authors see somewhere from $200-$500 a year in fees.

Some authors need to maintain extra levels of confidentiality — perhaps because of the genre they write in or their personal preference.

Certain states like Wyoming keep member information confidential. Only the registered agent is public, so you could set up a company there and use a registered agent.

In some cases, you may need to create two LLCs to form a legal barrier between you and the public. This doubles the cost of starting a business, but it might be necessary to give you the confidentiality you desire.

Now that you've become an official business in the eyes of the government, it's time to take specific actions to ensure you're a legitimate business. You need to do certain things to get the most out of your publishing company and ensure its legitimacy.

2. Obtain your EIN.

An Employee Identification Number (EIN) is used to identify a business entity. Also known as a Federal Tax Identification Number, an EIN is a 9-digit number that the IRS uses during tax season.

Upon registering your business, you'll get an EIN — like a Social Security number for businesses. When you have an EIN, ensure the documentation for any accounts that you've set up are associated with this number.

3. Set up a business bank account.

To keep your personal income and the business’s financials separate, you need to have a business bank account. Separation of personal funds from business funds is essential.

You may set up an account with a traditional brick and mortar bank or an alternative online banking service like PayPal.

4. Set up an accounting system.

Whether you hired a professional accountant or are keeping detailed Google Sheets, you have to keep track of your financials from the very beginning. And it has to be perfect. All those I’s dotted and those T’s crossed.

Two popular options for accounting software include Quickbooks and Wave Financial . 

5. Register your domain name.

People need to be able to Google your business. You don’t want those leads to go to waste. That’s the main reason you need to register your domain name — a URL.

A professional author website is the best way to tell people about your business and your books.

Official social media accounts also help like Instagram , LinkedIn, Facebook , etc.

6. Create a publisher's KDP account on Amazon.

If you've published books before on your own personal account and you want them to be in the business' account, then you need to do one of two things:

• Change your personal account to the business' by changing the necessary information in your settings to reflect the company (address, EIN, etc.).
• Make a new KDP account and move your books to it.

As per Amazon's TOS, a person is not allowed to have 2 accounts. But don't worry. You have an account, and your business has an account. Those are 2 accounts you control, which is still in compliance with Amazon’s TOS.

7. Schedule an annual business meeting and take minutes.

If you're an LLC or Corporation, you must have at least 1 annual business meeting a year and ensure you document it and place it as your minutes.

Without this, your legitimacy as a company wanes.

For example, my wife and I will schedule a dinner once a year on the company's dime, have a business meeting, and take detailed minutes.

8. Publish a book.

This is the whole reason for a publishing company! Imagine how sweet it will be when you publish that first book.

Whether it’s a children’s book , a biography , a mystery , a short story , an ebook only, or print-on-demand, you’re now a part of the publishing industry.

You need to purchase an ISBN (International Standard Book Number) for each work to sell books. An ISBN is an internationally-recognized 13-digit number that is supposed to simplify sales and distribution. Bowker is the official ISBN agency for the US and Australia.

Step 6 : Grow Your Team

You're now a full-fledged publishing company! With your business made official, it's time to grow your team. (If you intend to be the sole employee of the company or the only author represented by the company, then you’ve already finished the last step.)

Who do you need on your team? Here are some possibilities for expanding your publishing company beyond just yourself:

• A dedicated accountant
• Other authors you can now publish
• Freelancers for cover art , formatting, editing , web design, etc.
• Marketing or social media specialists to maintain your online presence

Look for authors whose works you’re interested in publishing. You can even split royalty through your new, legitimate publishing house.

If your newly minted publishing company manages co-authored projects, you'll have an extra challenge ahead of you.

Calculating royalties and dividends owed can be a hassle — especially if those need to be split up in any way. However, the good folks over at Draft2Digital have created a solution for that exact situation.

While PublishDrive led this charge with PublishDrive Abacus , Draft2Digital is our choice for book distributors, and they also have this revolutionary program in the publishing world. You can read their announcement here .

This program allows the authors to:

• Calculate royalties between co-authors
• Provide each contributor with detailed reports
• And streamline the entire accounting process

This program is geared entirely towards publishing groups that publish on Amazon and Kindle Unlimited.

In order to be part of the royalty split program, your books do have to be enrolled on Draft2Digital, even for platforms like Amazon. But the headache it saves you could easily be worth the cost of the commission D2D takes.

See also our review of Draft2Digital .

If going through all the steps above to form your publishing company sounds like a lot of work, you can significantly simplify the process (for an added fee, of course) with a company like MyCompanyWorks , which is a business that helps you set up your own business.

While MyCompanyWorks doesn't take all the work out of the process (you'll still have to do things like visit your bank to set up a business bank account), it does make the process a lot easier.

Here is a brief walkthrough to get started:

From the homepage, you can hover over Order Now then select Form an LLC .

Then you select the state the you want to register under, as well as the desired package.

MyCompanyWorks also has a lot of additional services, some of which are useful (like “Prepare S-Corporation Election”).

Next, you begin inputting your information. I won't screenshot everything here (because it's a lot), but it includes your contact info, your name for the LLC, the list of people that manage the company, and the information needed to get your Federal Employer Identification Number.

MyCompanyWorks walks you through the entire process easily, and before you know it, you'll have a business ready to go!

Resources For Setting Up a Publishing Company

Check out these fantastic resources for setting up your own publishing company. I personally use or have used most of these.

Setting up an LLC, Corporation, or Sole Proprietorship can feel daunting. If you're like me, then you probably conduct plenty of research before carrying out such a monumental task.

Before I jumped into setting up my LLCs, I did a bunch of research.

Get a Master’s degree in Publishing with this Publishing MA program.

If you're looking to create a legitimate company publishing many books and want to take yours to the next level, then perhaps a formal education in publishing is right for you.

Western Colorado University offers a full-fledged Publishing MA program , one of the only such programs to embrace indie publishing.

It is a 1-year program (from July to July) and only requires you to spend two weeks in the gorgeous Colorado mountains while the rest of the course is taught online.

It is equally balanced between traditional publishing and indie.

Students will engage in innovative projects, such as:

• Developing the concept for an anthology (which pays pro rates)
• Soliciting submissions
• Reading the slush pile and choosing the stories
• Issuing contracts
• Editing pieces
• Designing and producing a book and its cover
• Publishing that book
• Making a marketing plan

As the final project, students will select a public-domain classic, acquire the text, and work through every stage of producing and releasing the book via a mid-sized publisher (WordFire Press), which will list their name on the copyright page.

The program is run by the award-winning and legendary science fiction author, Kevin J. Anderson, who personally teaches all the courses. Kevin has 56 national or international bestsellers and 23 million copies in print in 30 languages.

His publishing company, WordFire Press, has released nearly 350 titles from 95 authors in ebook, trade paperback, hardcover, and audio. He is a highly qualified publishing professor.

If you are interested in taking this program, you need to act fast. The program fills up quickly every year, so don't delay!

More Info on Starting a Publishing Company

Need more info? Here are a few articles I found useful when I was doing my original research on starting my own publishing company:

• List of Resources for Setting Up a Publishing Company : This quick guide is great for the terminology and list of resources in each of the steps.
• How to Form an LLC by WSJ : Who better to give you more information than the Wall Street Journal in setting up your own company?
• 6 Mistakes to Avoid When Setting Up Your Corporation or LLC : What more can I say from that title than make sure you don't make any of these mistakes.
• Pat Flynn's Personal Details on Setting Up His LLC : Pat Flynn of SmartPassiveIncome.com does an excellent job explaining why and how he did his LLC setup.
• Nuts and Bolts: Nitty-Gritty Details, Incorporating, and Taxes : This one is my favorite.

Are you ready to start a publishing company?

With a few hundred dollars and some spare time, you are ready to start your own publishing company and establish legitimacy, legal liability protection, and valuable tax breaks.

Thanks to services on the Internet, it is easier than ever to set up your own book publishing LLC or Corporation.

Although annual costs persist each year, the benefits of starting your very own publishing company will quickly outweigh this.

Better taxes, increased personal security, and more publishing capabilities were the main reasons I started 3 different LLCs to support my entrepreneurial habits.

Now that you know how to start your very own publishing company , get started and become a book publisher today!

If you have any questions along the way, don’t hesitate to ask me. Leave a comment below to tell me what you found most helpful.

But do remember that I am not a lawyer — just an experienced entrepreneur.

Dave Chesson

When I’m not sipping tea with princesses or lightsaber dueling with little Jedi, I’m a book marketing nut. Having consulted multiple publishing companies and NYT best-selling authors, I created Kindlepreneur to help authors sell more books. I’ve even been called “The Kindlepreneur” by Amazon publicly, and I’m here to help you with your author journey.

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155 thoughts on “ How to Start a Publishing Company: 2024 Guide ”

Publishing companies often have a symbol for their company. Since they offer a service, this begs for trademarking the images used by the company.

Do you have suggested links or a blog piece on trademarking?

BTW: Good, solid content and suggested strategies on starting a publishing company. I appreciated your work; you are my “pathfinder!” =rds

Thank you for this information. I created an LLC for my coaching business and plan on publishing under the same LLC vs having two companies. That being said, my business isn’t structured as a publishing house. Will that be an issue?

It shouldn’t be.

I appreciate the wealth of knowledge in this article. I do have one question though.

If someone creates a new llc for their publishing company does that mean when creating the new kdp account we can avoid using our own name and instead only use the business name?

Dave, how do you move your books to a new KDP account? Wouldn’t you have to republish?

I’ve changed everything in my personal account to my business tax and business info, in the meantime, both on KDP, Smashwords, and D2D.

Is there a legal way to transfer ownership of books from ME to my business?

Yup – unpublish and republish. Although a cleaner way is to switch the current account info to the new account, keeping all your books there, like it sounds like you did. As for legal, I made mark in my LLC book that the ‘assets’ were transferred over to the company. (Again, not legal advice nor am I a lawyer).

Fantastic and valuable article. Thank you so much. I will definitely have to go to the LLC route. Thankfully, I have a bit of reading to do before I have to get busy with that.

I already have my company name, domain name, website, and logo, I just need to handle all the legalities of it.

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Publishing Company Business Plan

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How to Write A Publishing Company Business Plan?

Writing a publishing company business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Products and services:.

Highlight the publishing services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information

Describe what kind of publishing company you run and the name of it. You may specialize in one of the following publishing company businesses:

Trade Publishing

Educational and academic publishing, boutique publishing, digital publishing.

• Describe the legal structure of your publishing company, whether it is a sole proprietorship, LLC, partnership, or others.Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established publishing company service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Competitive analysis:, market trends:.

Analyze emerging trends in the industry, such as digitization, interactive media like AR and VR, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your publishing company business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your products:

Mention all the products that will be provided by your publishing company. This list may include products like,

• Books, academic papers, magazines, etc.
• Video games

Describe your services:

Mention the publishing services your business will offer. This list may include services like,

• Reviewing and Editing
• Printing and Production
• Marketing and Promotion
• Consultation

Quality measures:

This section should explain how you maintain quality standards and consistently provide the highest quality service.

Additional Services:

In short, this section of your publishing company plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Describe your pricing strategy. A publishing company adapts one of the following or a mix of pricing strategies to stay competitive and profitable.

• Retail pricing
• Dynamic pricing
• Subscription models
• Freemium pricing
• Tiered pricing

Marketing Strategies:

Sales strategies:, customer retention:.

Overall, this section of your publishing company business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your publishing company business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Mention your publishing business’s staffing requirements, including the number of employees needed. Include their qualifications, the training required, and the duties they will perform.

Operational Process:

Equipment & machinery:.

Include the list of equipment and machinery required for the publishing company, such as printing machinery, scanners and digital imaging equipment, storage systems, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your publishing company business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key team members, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your publishing company services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the publishing company industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your publishing house business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample publishing company business plan will provide an idea for writing a successful publishing company plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our publishing company business plan pdf .

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Importance of Business Plan Location

Frequently asked questions, why do you need a publishing company business plan.

A business plan is an essential tool for anyone looking to start or run a successful publishing company business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your publishing company.

How to get funding for your publishing company business?

There are several ways to get funding for your publishing company business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your publishing company business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your publishing company business plan and outline your vision as you have in your mind.

What is the easiest way to write your publishing company business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any publishing company business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a publishing company business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

What's the importance of a marketing strategy in a publishing company business plan?

Marketing strategy is a key component of your publishing company business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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How to write a business plan for a book publishing house?

Putting together a business plan for a book publishing house can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.

We will explore why writing one is so important in both starting up and growing an existing book publishing house, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.

Without further ado, let us begin!

In this guide:

Why write a business plan for a book publishing house?

• What information is needed to create a business plan for a book publishing house?
• How do I build a financial forecast for a book publishing house?

The written part of a book publishing house business plan

• What tool should I use to write my book publishing house business plan?

Having a clear understanding of why you want to write a business plan for your book publishing house will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a book publishing house business plan.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your book publishing house. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your book publishing house to be in the next three to five years.

Once you have a clear destination for your book publishing house, you'll focus on three key areas:

• Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
• Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
• Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To anticipate future cash flows

Regularly comparing your actual financial performance to the projections in the financial forecast of your book publishing house's business plan gives you the ability to monitor your business's financial health and make necessary adjustments as needed.

This practice allows you to detect potential financial issues, such as unexpected cash shortfalls before they escalate into major problems. Giving you time to find additional financing or put in place corrective measures.

Additionally, it helps you identify growth opportunities, like excess cash flow that could be allocated to launch new products and services or expand into new markets.

Staying on track with these regular comparisons enables you to make well-informed decisions about the amount of financing your business might require, or the excess cash flow you can expect to generate from your main business activities.

To secure financing

Crafting a comprehensive business plan for your book publishing house, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your book publishing house has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your book publishing house, let's delve into the necessary information needed to craft an effective plan.

Information needed to create a business plan for a book publishing house

You need the right data in order to project sales, investments and costs accurately in the financial forecast of your book publishing house business plan.

Below, we'll cover three key pieces of information you should gather before drafting your business plan.

Carrying out market research for a book publishing house

As you consider writing your business plan for a book publishing house, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your book publishing house.

Your market research could reveal that readers may be looking for books with diverse characters, or books that address current social issues. Additionally, readers might be more likely to purchase books from authors they recognize, so it could be beneficial to focus on promoting existing authors and their works.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your book publishing house.

Developing the marketing plan for a book publishing house

Before delving into your book publishing house business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a book publishing house

Whether you are starting or expanding a book publishing house, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

A book publishing house might incur staffing costs such as wages for editors, designers, marketers, and other personnel, as well as benefits such as health insurance. Additionally, the publishing house might incur costs for equipment, such as computers, printers, and software programs.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your book publishing house, it is time to start creating your financial forecast.

What goes into your book publishing house's financial forecast?

The financial forecast of your book publishing house's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a book publishing house are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a book publishing house shows how much revenue and profits your business is expected to generate in the future.

Ideally, your book publishing house's P&L statement should show:

• Healthy growth - above inflation level
• Improving or stable profit margins
• Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established book publishing house. And similarly, an established company should showcase a higher level of profitability than a new venture.

The forecasted balance sheet of your book publishing house

The projected balance sheet of your book publishing house will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

• Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
• Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

Analysing your book publishing house projected balance sheet provides an understanding of your book publishing house's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your book publishing house's liquidity and solvency:

• A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
• A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

A projected cash flow statement for a book publishing house is used to show how much cash the business is generating or consuming.

The cash flow forecast is usually organized by nature to show three key metrics:

• The operating cash flow: do the core business activities generate or consume cash?
• The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
• The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?

As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your book publishing house business plan to pay close attention to your cash flow forecast.

Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the book publishing house is appropriately funded.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your book publishing house as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

Having this table helps show what costs are involved in setting up your book publishing house, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your book publishing house business plan, let's shift our focus to the written part of the plan.

The written part of a book publishing house business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

The first section of your book publishing house's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your book publishing house, current trends, and potential growth opportunities.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

In your book publishing house business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your book publishing house, you could emphasize its potential for a loyal customer base of book lovers. It may be situated in an area with a growing population, suggesting that more people could be exposed to your books. Additionally, it could be close to transportation hubs, such as airports and major highways, which could provide easy access for customers and business partners. Furthermore, the area may have a thriving cultural and creative scene, which could make it an attractive location for potential employees. All of these factors could be key in convincing a third party financier of the potential of your book publishing house.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your book publishing house business plan should include a detailed description of what your company sells to its customers. 

For example, your book publishing house might offer editorial services such as copy editing and proofreading to ensure books are high-quality and error-free. It could also provide cover design services to help authors create an attractive and eye-catching product. Lastly, it could offer marketing services to help authors promote their book and get it in front of readers. These services are important because they help authors create a professional product that is more likely to be successful in the marketplace.

The reader will want to understand what makes your book publishing house unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your book publishing house business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your book publishing house, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your book publishing house aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include avid readers who are interested in the latest book releases. They are likely to be well-educated, and appreciate the value of literature and the written word. They are also likely to purchase books from a variety of genres and formats, such as hardcover, paperback, and eBooks.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your book publishing house.

5. The strategy section

When writing the strategy section of a business plan for your book publishing house, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your book publishing house might face a risk from changes in the market. For example, if another company introduces a new product that is more attractive to readers, your business may suffer. Alternatively, the publishing house may also face a risk from changes in technology. For example, if new technologies emerge that allow readers to access books more easily, the publishing house could struggle to maintain its market share.

6. The operations section

The operations of your book publishing house must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your book publishing house - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You could have key assets such as the rights to certain books or the ability to publish them. This could be a valuable asset to the book publishing house as it allows them to create and distribute content. Additionally, they might have intellectual property related to the books that they have published and the artwork associated with them. This intellectual property could be a key asset to the publishing house as it could be used for publicity and marketing to help promote the books that they have published.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will present the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of what goes in your book publishing house business plan, let's look at the solutions you can use to draft yours.

What tool should I use to write my book publishing house's business plan?

There are two main ways of creating your book publishing house business plan:

• Using specialized business planning software,
• Hiring a business plan writer.

Using an online business plan software for your book publishing house's business plan

The modern and most efficient way to write a book publishing house business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your book publishing house's business plan

Outsourcing your book publishing house business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the book publishing house business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your book publishing house's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your book publishing house business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your book publishing house business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

• A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
• Having an up-to-date business plan is the only way to keep visibility on your book publishing house's future cash flows.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your book publishing house. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

• In-depth business plan structure
• Key steps to write a business plan?
• Free business plan template

Know someone who owns or wants to start a book publishing house? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Business Plan Template for Book Publishers

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Are you a book publisher looking to take your business to new heights? Whether you're a seasoned professional or just starting out, having a solid business plan is the key to success in the publishing industry. And ClickUp's Business Plan Template for Book Publishers is here to help you every step of the way!

With this template, you can:

• Outline your publishing goals, vision, and strategies
• Create detailed financial projections and budgets
• Identify target markets and develop effective marketing strategies
• Plan for distribution, sales, and author acquisitions
• Track progress and make adjustments to ensure success

Don't leave your publishing dreams to chance. Get the ClickUp Business Plan Template for Book Publishers today and turn your passion into a thriving business!

Business Plan Template for Book Publishers Benefits

A Business Plan Template for Book Publishers offers a range of benefits to help publishers successfully navigate the industry:

• Provides a clear roadmap for launching or expanding a publishing business, outlining the vision and goals.
• Assists in identifying target audiences, understanding market trends, and developing effective marketing strategies.
• Helps publishers analyze competition and differentiate themselves in the market.
• Allows for comprehensive financial projections, including revenue streams, expenses, and potential funding sources.
• Ensures a structured approach to managing operations, distribution channels, and author relationships.
• Facilitates strategic decision-making and adjustments based on market dynamics and industry shifts.
• Provides a professional document that can be shared with investors, partners, and stakeholders to secure funding and support.
• Enables publishers to demonstrate a deep understanding of their industry and the viability of their business concept.

Main Elements of Book Publishers Business Plan Template

When it comes to creating a business plan for your book publishing venture, ClickUp has you covered with a template tailored specifically for the industry. Here are the key elements of ClickUp's Business Plan Template for Book Publishers:

• Custom Statuses: Keep track of your progress with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring your business plan stays on track.
• Custom Fields: Use custom fields such as Reference, Approved, and Section to add important details and track the status of each section of your business plan.
• Custom Views: Take advantage of five different views, including Topics, Status, Timeline, Business Plan, and Getting Started Guide, to organize and visualize your business plan in the most effective way possible.
• Document Collaboration: Collaborate with your team members and stakeholders using ClickUp's Docs feature, allowing you to work together seamlessly on your business plan.
• Task Management: Break down your business plan into actionable tasks using ClickUp's tasks feature, assigning responsibilities, setting due dates, and tracking progress every step of the way.

How To Use Business Plan Template for Book Publishers

Creating a business plan for a book publishing company can be a daunting task, but with the help of ClickUp's Business Plan Template, you can break it down into five simple steps:

1. Define your vision and mission

Start by clearly defining your vision and mission for your book publishing business. What is your ultimate goal? What do you want to achieve? This will help guide your decision-making process and set the tone for your business.

Use the Docs feature in ClickUp to write down your vision and mission statements for easy reference.

2. Identify your target audience

Next, identify your target audience for the books you plan to publish. Who are the readers you want to reach? What are their preferences and interests? Understanding your target audience will help you tailor your publishing strategies and marketing efforts accordingly.

Create custom fields in ClickUp to track important information about your target audience, such as demographics and reading preferences.

3. Develop your publishing strategy

Now it's time to develop a comprehensive publishing strategy. This includes deciding what genres and types of books you will focus on, establishing relationships with authors and agents, and determining your distribution channels.

Use the Gantt chart feature in ClickUp to create a timeline and visually plan out each step of your publishing strategy.

4. Create a financial plan

A solid financial plan is crucial for any business, including book publishing. Determine your startup costs, projected revenue, and expenses. Consider factors such as printing costs, marketing expenses, and royalties for authors. This will help you understand the financial feasibility of your business and make necessary adjustments.

Utilize the Table view in ClickUp to create a spreadsheet and track your financial projections and expenses.

5. Set goals and milestones

Lastly, set specific goals and milestones for your book publishing business. These can include targets for the number of books published, revenue generated, or market share gained. Break these goals down into smaller milestones to track your progress and keep yourself motivated.

Use the Milestones feature in ClickUp to set and track your goals and milestones, ensuring that you stay on track and celebrate your achievements.

By following these five steps and utilizing ClickUp's Business Plan Template, you'll have a comprehensive and well-structured business plan for your book publishing company.

Get Started with ClickUp’s Business Plan Template for Book Publishers

Book publishers can use the Business Plan Template for Book Publishers to create a comprehensive plan for their publishing endeavors.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a successful business plan:

• Use the Topics View to organize your plan into different sections such as market analysis, marketing strategies, and financial projections
• The Status View will help you track the progress of each section, whether it's complete, in progress, needs revision, or to do
• Utilize the Timeline View to set deadlines and milestones for each section of your plan
• The Business Plan View will give you an overview of your entire plan, allowing you to easily navigate and make updates
• Use the Getting Started Guide View to access helpful resources and tips on how to create a successful business plan
• Add custom fields like Reference, Approved, and Section to provide additional information and track important details
• Update statuses and custom fields as you work through your plan to keep stakeholders informed of progress
• Monitor and analyze your plan to ensure it aligns with your goals and objectives
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How To Write a Business Plan for Book Publishing Company in 9 Steps: Checklist

By alex ryzhkov, resources on book publishing company.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan

Welcome to our blog post on How To Write a Business Plan for a Book Publishing Company in 9 Steps: Checklist . The book publishing industry in the US is thriving, with a growing demand for new and diverse stories. In fact, according to the latest statistics, the industry has shown a steady growth of 3.2% over the past year, with total revenue exceeding $26 billion . This presents a great opportunity for aspiring publishers to enter the market and establish a successful business.

Before diving into the intricacies of starting a book publishing company, it's essential to conduct thorough research on the industry. Gain an understanding of the current trends, market dynamics, and emerging opportunities. This will help you make informed decisions and carve out a unique position for your company in the market.

To effectively reach your target market, it's crucial to identify the specific audience for your published books. Is it children, young adults, or adults? Fiction or non-fiction readers? Understanding your target market will enable you to tailor your content and marketing strategies accordingly, increasing the chances of success.

A competitive analysis is a vital step in understanding the existing players in the book publishing industry. Identify their strengths, weaknesses, and unique selling points. This analysis will guide you in differentiating your publishing company from the competition and developing a compelling value proposition that attracts both authors and readers.

Next, define your unique selling proposition (USP) – what sets your book publishing company apart from others? This could be a specific genre focus, a commitment to diverse voices, or a particular approach to marketing and promotion. Your USP will be instrumental in attracting authors and building a loyal reader base.

When starting a business, it's important to determine the most suitable business structure and fulfill all legal requirements. Consult a legal professional to identify whether a sole proprietorship, partnership, or limited liability company (LLC) is best for your book publishing company. Additionally, research and comply with any necessary licenses, permits, or certifications.

A detailed financial plan is crucial to the success of your publishing company. Consider all potential expenses, such as editing services, cover design, printing, marketing, and distribution costs. Outline your projected revenues and profits to ensure viability and sustainability. This financial plan will also be valuable when approaching potential investors or lenders for funding.

Speaking of funding, it's essential to identify potential sources for financing your book publishing company. These could include personal savings, loans from banks or credit unions, crowdfunding, or seeking investment from angel investors or venture capitalists. Research each option thoroughly and determine which aligns best with your business goals.

Once you have your books ready to hit the market, it's time to develop a pricing and distribution strategy. Determine the ideal price range for your books based on market standards, production costs, and target audience affordability. Additionally, explore various distribution channels, such as selling through traditional brick-and-mortar bookstores, online retailers, or even direct-to-consumer sales channels.

To effectively promote your books, it's essential to outline a comprehensive marketing and promotional strategy. Identify the most effective marketing channels, such as social media, author events, book fairs, or collaborations with influencers. Utilize these channels to build brand awareness, attract readers, and establish long-term relationships.

By following these nine steps, you'll be well on your way to writing a robust business plan for your book publishing company. Stay tuned for more informative articles as we delve deeper into each step, providing you with the guidance and tools you need to launch a successful venture in the exciting world of book publishing.

Research The Book Publishing Industry

Researching the book publishing industry is a critical first step in creating a business plan for your book publishing company. This step will provide you with valuable insights into the current state of the industry, emerging trends, and opportunities for growth. Here are some key points to consider during your research:

• Industry Overview: Familiarize yourself with the overall landscape of the book publishing industry. Understand the different sectors within the industry, such as trade publishing, educational publishing, and self-publishing. This will help you identify potential niches or areas of focus for your publishing company.
• Market Analysis: Analyze the market demand for books within your target genre or category. Identify key demographics and consumer preferences to better tailor your publishing strategy. Look for opportunities in underserved markets or untapped genres.
• Technology and Digital Publishing: Stay abreast of technological advancements and their impact on the publishing industry. Explore the rise of e-books, audiobooks, and digital platforms. Consider the potential benefits and challenges of incorporating digital publishing into your business model.
• Industry Trends: Keep track of the latest industry trends and shifts in consumer behavior. Determine if there is a growing demand for specific types of books or if certain genres are declining in popularity. This information will support your decision-making process when selecting authors and titles for publication.
• Attend industry conferences and conventions to network with other professionals and stay updated on the latest industry developments.
• Subscribe to industry publications and blogs to access relevant news, analysis, and expert insights.
• Join online communities or forums dedicated to the publishing industry to engage in discussions and learn from experienced professionals.

By conducting thorough research on the book publishing industry, you will gain a comprehensive understanding of the market dynamics and be better equipped to design a successful business plan for your publishing company.

Identify Your Target Market

Before starting a book publishing company, it is crucial to identify your target market . Understanding your target audience will help you tailor your publishing efforts, marketing strategies, and book selections to meet their specific needs and preferences.

Here are some important steps to help you identify your target market:

• Research and analyze the demographics of potential readers. Consider factors such as age, gender, location, and interests. This information will assist you in creating books that cater to your target audience's tastes.
• Define your niche. Determine the specific genre or subject area your publishing company will focus on. By narrowing down your target market, you can position yourself as an expert in that particular field and attract readers who are passionate about those topics.
• Conduct surveys and gather feedback from potential readers to understand their preferences and expectations. This will help you gauge their interest in different book genres, formats, and themes.

Tips for Identifying Your Target Market:

• Stay updated with current market trends and reader preferences to predict future demands.
• Observe and analyze successful books in your niche to identify their target audience and understand what makes those books appealing to them.
• Engage in social media platforms and online book communities to interact with potential readers and gain insights into their reading habits.

Identifying your target market is an ongoing process as reader preferences and market trends evolve. Continuously monitoring and adapting your strategies will ensure that your book publishing company remains relevant and successful.

Conduct A Competitive Analysis

As a book publishing company, it is essential to conduct a competitive analysis to understand the landscape you are entering and identify opportunities for your business. This analysis will provide insights into your competitors' strengths and weaknesses, allowing you to position your company more effectively in the market.

When conducting a competitive analysis, consider the following:

• Identify your direct competitors: Research and identify companies that publish books in the same genre or target the same audience as your company.
• Examine their publishing portfolios: Study your competitors' books to understand the type of content they publish, the quality of their editing, design, and overall production value.
• Evaluate their marketing strategies: Analyze how your competitors promote their books and engage with readers. Look at their online presence, social media activity, and advertising efforts.
• Assess their distribution channels: Understand where your competitors sell their books and how they reach their target audience. This information will help you identify potential gaps or opportunities.
• Consider pricing and royalty structures: Analyze the pricing strategies of your competitors, including the price points for different formats of books. Additionally, understand the royalty rates they offer to authors.
• Stay up-to-date with industry trends: Keep track of emerging trends and new developments in the book publishing industry. This will help you differentiate your business and stay competitive.
• Identify gaps in the market: Look for areas where your competitors might be lacking or overlooking opportunities. This could be in terms of genres, distribution channels, or marketing strategies.
• Learn from successful publishers: Study successful book publishing companies and learn from their strategies. Understand how they have positioned themselves in the market and what sets them apart.

By conducting a thorough competitive analysis, you will have a clearer understanding of your market and be better equipped to develop strategies that will help your book publishing company thrive.

Define Your Unique Selling Proposition

Defining your unique selling proposition (USP) is a crucial step in creating a business plan for your book publishing company. Your USP is what differentiates your company from others in the industry and helps you stand out to potential authors and readers. It is a clear and concise statement that communicates the unique value and benefits you offer.

When defining your USP, consider the following:

• Identify your niche: Determine the specific genre or market segment you specialize in. This could be a particular genre like romance novels or a niche within a genre, such as eco-friendly children's books. By focusing on a niche, you can target a specific audience and establish yourself as an expert in that area.
• Highlight your expertise: Showcase your experience and knowledge in the publishing industry. Share any relevant qualifications, previous successes, or connections that set you apart from your competitors. This will build trust and confidence in your ability to effectively publish and promote books.
• Emphasize your unique approach: What innovative strategies or services do you offer to authors? This could include personalized marketing plans, strong distribution channels, or a robust author support system. Highlighting these unique aspects will attract authors who are seeking a publisher that goes above and beyond traditional practices.

Tips for Defining Your USP:

• Research the market trends and demands to identify gaps or opportunities that align with your strengths.
• Consider conducting surveys or focus groups with authors to gather insights and better understand their needs and expectations.
• Stay up-to-date with the latest industry developments and technology advancements to incorporate them into your USP.
• Regularly review and refine your USP to stay relevant and competitive in the ever-changing publishing landscape.

Defining your USP will not only help you attract talented authors but also resonate with readers who are searching for unique and high-quality books. It is an essential aspect of your business plan that sets the foundation for your company's success in the book publishing industry.

Determine Your Business Structure and Legal Requirements

When starting a book publishing company, it is crucial to determine the business structure and legal requirements that will govern your operations. This step will help you establish the legal framework and ensure compliance with the necessary regulations.

First, you need to decide on the business structure that best suits your organization. The most common options for a book publishing company are sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has its own advantages and disadvantages, so it is vital to consider factors such as liability, tax implications, and management before making a decision.

Once you have determined the business structure, you must fulfill the legal requirements for operating a book publishing company. This typically involves registering your business with the appropriate authorities, such as the Secretary of State or local government agencies. You may also need to obtain licenses or permits specific to the publishing industry, depending on your location.

Tips for determining your business structure and legal requirements:

• Consult with a business attorney or accountant to understand the legal implications and tax benefits of different business structures.
• Research the licensing and permit requirements in your state or country to ensure compliance with all necessary regulations.
• Consider the long-term goals and growth prospects of your publishing company when determining the most suitable business structure.
• Keep thorough records of all legal documents and registrations for future reference and compliance.

By carefully considering your business structure and fulfilling the legal requirements, you can establish a solid foundation for your book publishing company. This step is crucial to ensure that your operations are conducted legally and efficiently, providing a strong platform for growth and success in the industry.

Create A Detailed Financial Plan

A detailed financial plan is crucial for the success of your book publishing company. It serves as a roadmap to help you navigate the financial aspects of your business and ensure you are making sound financial decisions. Here are the key steps to create a detailed financial plan:

Determine all the costs involved in starting your book publishing company. This includes expenses such as office space, equipment, software, licenses, and initial inventory. Make a comprehensive list and research the market to get accurate estimates.

Forecast your cash flow by estimating your revenue and expenses on a monthly or quarterly basis. This will help you understand your cash needs and plan accordingly. Consider factors such as book sales, royalties, marketing expenses, printing costs, and overhead expenses.

Decide on your financial goals and how you plan to achieve them. This could include targets for sales revenue, profit margins, and return on investment. Set achievable milestones and regularly review your progress.

Estimate your book sales based on market research and industry trends. Consider factors such as the genre of books you will publish, target market demand, and competitive analysis. Use this information to project your revenue and adjust your marketing and distribution strategies accordingly.

Create a detailed budget that outlines your anticipated expenses for each area of your business, such as editorial services, design and layout, marketing and promotions, printing, distribution, and administrative costs. Regularly monitor and update your budget to stay on track.

Consider working with a financial advisor or accountant who has experience in the publishing industry. They can provide valuable insights, help you identify potential financial risks, and assist in creating a solid financial plan.

• Include a contingency fund in your financial plan to account for unexpected expenses or changes in market conditions.
• Regularly review and update your financial plan as your business grows and market conditions evolve.
• Research and compare different pricing models for your books to ensure optimal profitability.
• Explore potential collaborations or partnerships with other publishers, authors, or distributors to leverage resources and reduce costs.

By creating a detailed financial plan, you will be well-equipped to make informed financial decisions and set your book publishing company up for success. Remember to regularly monitor and update your financial plan as your business grows and adapts to the ever-changing publishing industry.

Identify Potential Funding Sources

One of the crucial aspects of starting a book publishing company is securing the necessary funding to support your operations and investments. Below are some potential funding sources that you can explore:

• Personal Savings: Utilize your own savings or personal funds to kickstart your publishing venture. This can give you greater control and flexibility over your finances.
• Family and Friends: Consider reaching out to your network of family and friends who may be interested in supporting your business. Remember to approach them professionally and outline the potential returns and risks involved.
• Angel Investors: Look for angel investors who are interested in the publishing industry. These individuals typically provide funding in exchange for ownership equity or a stake in your company.
• Bank Loans: Approach banks or financial institutions to explore options for business loans or lines of credit. Prepare a well-thought-out business plan and financial projections to increase your chances of securing funding.
• Crowdfunding: Consider running a crowdfunding campaign on platforms like Kickstarter or Indiegogo to gather financial support from a larger audience. Provide compelling incentives such as limited-edition books or exclusive perks to attract backers.
• Grants and Scholarships: Research grants and scholarships offered by organizations or institutions that support the publishing industry. Make sure to carefully review the eligibility criteria and application deadlines.
• Industry Partnerships: Explore potential partnerships with established publishers or literary organizations that may be willing to invest in your company. They could offer financial support, resources, or expertise in exchange for collaboration opportunities.
• Present a clear and compelling business plan when approaching potential funding sources to demonstrate your understanding of the publishing industry and your company's growth potential.
• Consider seeking the advice of a professional financial advisor or consultant to help identify the most suitable funding sources and guide you through the funding process.
• Explore alternative financing methods, such as revenue-sharing agreements with authors or strategic partnerships with other businesses in the publishing ecosystem.
• Regularly review and update your financial projections to ensure they align with the current market conditions and publishing trends.

By identifying and pursuing suitable funding sources, you can secure the necessary resources to launch and grow your book publishing company. Remember to research each option thoroughly, weigh the pros and cons, and choose the funding strategy that aligns with your long-term goals and vision.

Develop a Pricing and Distribution Strategy

When it comes to running a book publishing company, developing a solid pricing and distribution strategy is essential . This step involves determining how to price your books and how to effectively get them into the hands of readers.

Here are some key considerations to keep in mind:

• Assess production costs: Before setting a price for your books, it's important to calculate the cost of production. Consider expenses such as editing, designing, printing, and distribution. Take into account both fixed and variable costs to ensure you cover all expenses and make a profit.
• Research market trends and competition: Analyze the prices of similar books in the market to gain insights on what readers are willing to pay. Additionally, take note of any pricing strategies employed by your competitors. This will help you determine if you want to price your books higher or lower, based on factors such as author reputation, book quality, and target audience expectations.
• Create pricing tiers: Consider offering different price points for your books. This can include options such as hardcover, paperback, and e-book editions. By providing a range of choices, you cater to different reader preferences and budgets .
• Establish distribution channels: Decide on the best channels to distribute your books. This can include partnerships with bookstores, online retailers, libraries, or even direct-to-consumer sales. Consider utilizing both physical and digital platforms to reach a wider audience.
• Negotiate distribution deals: If you choose to work with bookstores or online retailers, be prepared to negotiate terms with potential partners. This may involve discussions on discounts, consignment arrangements, or exclusive distribution rights . Look for partners who align with your goals and have a strong presence in your target market.

Tips for Developing a Pricing and Distribution Strategy:

• Regularly evaluate and adjust your pricing strategy to stay competitive and profitable.
• Consider offering special discounts or promotions during book launches or seasonal events to attract more readers.
• Maximize the potential of online platforms by utilizing digital marketing tools, such as email newsletters and social media campaigns, to promote your books.
• Explore alternative distribution methods, such as partnering with local book clubs or organizing author events in your community, to create additional buzz and sales opportunities.

By taking the time to carefully develop your pricing and distribution strategy , you can ensure that your books are priced competitively and reach the hands of your target audience efficiently. This will set your book publishing company up for success in the dynamic and ever-evolving publishing industry.

Outline Your Marketing and Promotional Strategies

Effective marketing and promotion strategies are crucial for the success of your book publishing company. By creating a comprehensive plan, you can ensure that your books reach your target audience and generate maximum exposure. Here are some key steps to outline your marketing and promotional strategies:

• Identify your target audience: Conduct thorough research and determine the demographic, interests, and preferences of your target readers. This will help you tailor your marketing efforts to effectively reach and engage with them.
• Create a compelling brand: Develop a strong and unique brand that resonates with your target audience. This includes creating a visually appealing logo, designing an attractive website, and establishing a consistent brand message across all marketing materials.
• Build an online presence: In today's digital age, having a strong online presence is essential. Build a professional and user-friendly website, create social media accounts, and engage with your audience through regular blog posts and updates.
• Utilize social media: Social media platforms offer a powerful marketing tool for reaching and engaging with your target audience. Create a content calendar and regularly share relevant and engaging posts, promotions, and updates. Interact with your followers and respond to their comments and messages.
• Establish author platforms: If your publishing company works with authors, help them establish their own author platforms. This includes creating professional author websites, setting up social media profiles, and organizing book signings and speaking engagements.

Tips for Successful Marketing and Promotion:

• Collaborate with influencers in the book industry to promote your books.
• Offer free advanced copies of your books to influential reviewers or bloggers for their honest reviews.
• Organize book launch events, signings, and readings to create buzz and attract potential readers.
• Participate in book fairs, industry conferences, and local events to network and showcase your books.

Create a marketing budget: Allocate a budget for marketing and promotions, considering costs for advertising, online campaigns, book trailers, email marketing, and other promotional activities. Ensure that your budget aligns with your business objectives and estimated sales projections.

Monitor and analyze: Regularly evaluate the effectiveness of your marketing and promotional strategies. Use analytics tools to measure website traffic, social media engagement, and book sales. Adapt and iterate your strategies based on the data and feedback received.

By outlining and implementing a comprehensive marketing and promotional plan, you can maximize the visibility and success of your book publishing company. Remember to stay proactive, adapt to industry trends, and constantly seek innovative ways to reach your target audience.

In conclusion, starting a book publishing company requires careful planning and consideration of various factors. By conducting thorough research, identifying your target market, analyzing the competition, and creating a solid financial plan, you can set a strong foundation for your business. Additionally, defining your unique selling proposition, determining the legal requirements, and exploring potential funding sources are crucial steps to success. Developing a pricing and distribution strategy, as well as outlining effective marketing and promotional strategies, will help you establish your presence in the competitive book publishing industry. With dedication and strategic execution, your book publishing company can thrive and contribute to the literary world.

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How to create a business plan for writers

Business plans for writers are valuable documents for setting, tracking and learning from goals and strategies for selling books. Read 9 steps for developing a thorough plan.

• Post author By Jordan
• 9 Comments on How to create a business plan for writers

The business of writing has as many moving parts as writing craft. This brief guide on how to create a business plan for writers will help you take steps to plan and adhere to SMART writing goals while keeping the business of writing (selling books and marketing your novels or non-fiction) firmly in mind.

What is a business plan for writers?

If you’ve ever watched a reality show about business investment such as the UK show Dragon’s Den (aired as Shark Tank in the US), you’ll know that start-ups that win big backing have one thing in common: a clear plan .

A classic business plan is:

• A comprehensive document stating future business objectives plus strategies for achieving them
• A guide to each stage of starting and/or managing a business over a future term used to record goals (and stay on track or rein in scope)
• A reference document to use towards measuring outcomes (for example, whether or not the goals in the plan were met, the strategies used, and how effective they were)

A good business plan goes hand in hand with other essentials: Knowing your niche, your value, and your target market . Make forming one an integral part of your story planning process .

Standard business plans vs business plans for writers

A business plan for writers differs from the type of plan a start-up would use to pitch investors:

• If you are an indie author (or hoping to become one), there will be less emphasis on proving your business case (its commercial viability). Your plan won’t need to convince investors to part with their cash in exchange for specific forecast returns (ROI)
• Your plan will feature aspects that are highly specific to the business of writing (such as book cover design and costs, editing, and other professional writing overheads)

Let’s explore 9 steps for building a business plan for a book or series:

9 steps to create a kickass writing plan for your business:

• Begin building your platform and audience.
• Brainstorm business-phase-specific writing goals.
• Prioritize goals by need, not wish.
• Create a living writing business plan.
• Itemize your planned expenses.
• Calculate what you need to sell to break even.
• Explore and choose strategies for selling.
• Create a compelling showcase for your brand.
• Measure results and adjust as you go.

Begin building your platform and audience

Why does building a platform/audience come first? Because it’s never too early to start connecting with others who may value, enjoy, and be willing to pay to further enjoy your voice.

Ways to build your writing platform:

• Create an author site that will be home to your future publications. To keep costs down you can use an all-in-one website design and hosting service such as Wix . Keep in mind that using designers and developers provides even more customization potential and design/functionality freedom, but may cost more.
• Blog about topics relevant to potential readers in your target audience.
• Create author pages on social media for sharing writing snippets, promo and news.
• Build a newsletter for your author site and offer giveaways (such as short stories or guides).
• Host or co-host webinars or lives on social media with other writers.

These are just some ideas.

Indie publishing expert Joanna Penn raises an important platform – building caveat . If you are in the early stages of writing a book, the types of platform available to you (and what is most popular with netizens) may have changed a lot by the time your book is out . (TikTok, for example, now hugely popular, was only started in 2016.)

Penn’s advice is to at least have a simple website with some form of email-gathering function. Email remains an effective way to spread the word about your newest and existing releases.

Brainstorm business-phase-specific writing goals

The first, proper step of creating a business plan for writers is to brainstorm goals specific to the phase of writing you’re in .

For example, if you’re working on your debut novel and are not yet published (traditionally or independently), your goals will likely look substantially different to a so-called ‘Midlist Author’ (an author who publishes consistently profitable books, but is not yet a publishing sensation landing seven-figure deals).

For midlist to top-tier authors, goals often focus on expansion oriented tasks such as speaking engagements or tapping new audiences by branching out into other genres or subgenres (for example, the way She-Who-Must-Not-Be-Named moved into writing thrillers as Robert Galbraith after her fantasy success). Now Novel writing coach Romy Sommer discusses tailoring strategy to your professional phase in our writing webinar on building a writing career.

Examples of goals specific to the current phase of your professional writing life might be:

• Finding and hiring a fiction editor for a recently completed draft
• Shortlisting agents open for queries who are interested in your genre and/or subject matter niche
• Creating a website that will provide a showcase and selling tool for your future publications

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Prioritize goals by need, not wish

Once you’ve brainstormed a list of specific goals that may be relevant to your writing business plan, it’s time to finesse these down to the most important, SMART goals.

SMART goals are goals that are specific, measurable, attainable, realistic, and time-based.

Prioritize goals by their relevance to tangible objectives. For example, formatting your book for X platform by Y date.

These are more practical than ‘nice to haves’ that have hard-to-predict impact on finances. For example, ‘becoming a bestseller’ – a ‘bestseller’ after all may mean radically different sales numbers in different countries or genres.

Examples of SMART business plan goals for writers

‘Research and write a list of ten agents currently open to queries in my genre/subject matter and start querying next Monday’ is a SMART goal.

It’s relevant to a specific business phase (having a manuscript to publish, in this example, traditionally). It’s attainable, actionable, and time-based .

‘Become a bestselling author’ is not (there are too many variables and moving parts; it lacks specificity). This is not to say that big dreams are invalid or not worth holding! But … they’re the driving, desiring force behind a good business plan, not the main content.

What do you need to do most urgently to get to a point where you have books to sell to an audience that’s dying to read them?

Angela Ackerman, in a helpful article for Jane Friedman’s publishing blog on the first steps in creating a writing business plans, says:

Sometimes desire (wanting to be published right now, for example) can get in the way of what we actually need (to hone our craft further). To be objective, set emotion aside. Ask yourself hard questions about what your career really needs. Angela Ackerman, in ‘The 7-Step Business Plan for Writers’, via Jane Friedman’s blog.

Create a living writing business plan

So you’ve prioritized goals for the next six months to a year ahead. You’ve made sure they’re SMART and tailored to where you’re at now. The next step is to create a living business plan for your writing.

Why a ‘living’ plan? There are times in any strategic process such as selling your work where you may want to reflect on how things are going, what’s working, and what isn’t, and regroup.

Begin your plan with a mission statement. Try to keep this to a sentence or two at most. For example:

‘Hire a cover designer, editors and formatting professional for my urban fantasy debut, create author profiles on Goodreads, Amazon and Wattpad, and self-publish my book by next June.’

Create a checklist of action items or ‘jobs to be done’ for your plan, prioritized by urgency. The satisfaction of ticking off checklist items is great motivation.

Itemize your planned expenses

Whether you want to sell enough books in a year’s trade to quit your day job or just see how many copies you can sell if you are systematic, it’s important to tracks costs vs returns.

For example, for a typical 80,000 word genre fiction debut, you might create a table in your business plan that looks something like this:

Cover design and editing are essential if you want your book to stand out, and to do the utmost to win over first-time readers.

As in the table above, you may have expenses such as website hosting and design requiring further research, because there are just so many options. The same goes for turning your manuscript into an audiobook .

The promo spend of $150 above is based on the minimum daily spend for Instagram ads being $5 (assuming, for this example, that you wanted to pay to promote your indie book to a niche reader audience matching your genre on Instagram for 30 days).

The above example of costs is a rough example, of course. You may well find cover designers whose services cost less than a lower- mid-priced professional who has more experience. Ditto for editing (remember the caveat though: ‘You get what you pay for’). Having a good estimate of costs for your business plan (and replacing these with hard figures as quotes come in and you choose which to accept) will help you budget and work out what you need to sell to break even:

Calculate what you need to sell to break even

Going off the above table (which does only include copy-editing, and not a manuscript evaluation , developmental editing or proofreading, and leaves out other costs such as print copies), you would need to sell 2182 digital copies of your book at a promo price of $0.99 to earn back your (known) expenses, or 1086 copies at a launch/promo price of $1.99 per copy ($2160 of known expenses divided by your selling price and rounded up).

Having this figure is vital as it gives you an exact target for sales, as well as an idea of the sweet spot for promo pricing to at least recoup your expenses in the first push.

Will you sell your book cheaply to start for the sake of a lower barrier to entry for potential readers with whom you have not yet proven your entertainment value?

This is a particularly helpful strategy for selling a new series, as you can up your pricing for sequels.

As part of working out selling price and launch strategies, read publishing experts’ blogs and thoughts on the matter. Joanna Penn has a helpful article on the benefits of selling with platform exclusivity versus ‘going wide’ (selling on multiple platforms), for example.

Explore and choose strategies for selling

There are many platforms, models and strategies for selling your stories.

Long gone are the days of book chains, indie stores and physical libraries being the main way to find your favorite stories.

The mix of in-store and digital gives you many ways to promote your writing and find an audience that may be hungry for the exact themes, topics, and experiences your work explores.

Some selling strategies to explore and choose from to add to your growing business plan include:

• Platform-specific promo services (such as KDP Select , Amazon’s promotional program for authors willing to sign over exclusive publishing rights to their platform for 90 days)
• Book blog tours and giveaways (partnering with writing sites that have blogs to talk about your book – for example, we interview members who have new releases to share here on Now Novel)

If your marketing knowledge and experience is scant, it may be worth taking a book marketing course (remember to add this to the expenses portion of your writing business plan). Coursera is a fantastic resource for university-run short learning courses, and may help you grasp marketing fundamentals or how to use tools for understanding how to convert website visitors into customers/readers.

Create a compelling showcase for your brand

Many artists and writers are allergic to marketing terms such as ‘brand’. They tend to sound clinical, the kind of buzzwords that people throw out a mile a minute at conferences.

Yet branding is a helpful concept to think about as you create your writing business plan.

What is an author’s brand?

If you look at a major brand such as Nike’s advertising, a specific ‘brand persona’ becomes clear. Nike is all about the ‘mentor/coach’ archetype (from their slogan ‘Just Do It’ to their visual choices such as the tick-like swoosh logo), their brand is all about helping the customer reach their own potential.

An author brand differs in several ways (authors don’t have catchphrases or slogans, of course). Yet having a clear author brand can (like Nike) differentiate what is unique and wonderful about your work in a crowded bookshelf or marketplace. From cover design choices to titling, how you represent your work infers a certain tone and persona. In the podcast with Joanna Penn mentioned above, Penn shares that she’s interested in the spooky and how she shares pictures of eerie environs because she knows these appeal to a certain type of reader who would fall within her target audience – that’s a branding decision.

Ways to build showcasing your brand into your writing business plan

• Plan the language and tone of your newsletter and social media posts. If you write cozy mysteries, for example, what cozy language or mystery can you carry over into what you share?
• Plan how you’ll incorporate the emotion your writing intends to stir in readers into your visual design language , on your author site and social media. If you write bloodcurdling, violent fantasy, what color, typographical and other design choices will communicate what your writing is all about?
• Think about what types of promotions you could run that are on-brand . An author who writes ‘choose-your-own-adventure’ books like Goosebumps titles in this format could run a book giveaway contest where readers combine given elements to create their own flash fiction, for example, for a book giveaway.
• Create a calendar of images, quotes and videos to share that m atch the tone, mood, spirit and/or subjects of your stories.

Measure results and adjust as you go

In any business, it helps to be agile, able to pivot fast to let go of strategies not working or embrace newer methods or platforms that are well-aligned to your goals.

Make your business plan a living document that you review regularly and adjust as needed so that you factor in assessing, learning what worked and what didn’t, and coming back stronger.

Looking for professional fiction editing services or a writing coach to guide you through each stage of writing and querying? Now Novel offers companionship and a supportive network, every step of the way.

Further resources

Rick Lite has a helpful guide for IngramSpark for creating a book promo timeline.

Zara Altair at ProWritingAid provides helpful questions to ask in deciding your book’s value and price .

Are you making regular earnings on your books? What’s the one tip you’d give another writer on going pro? Let us know down below.

Related Posts:

• 10 useful apps for writers to help you create
• How to plan a story in scenes: 5 steps
• What is a plot point? Find and plan clear story events
• Tags book marketing , writing business , writing process

Jordan is a writer, editor, community manager and product developer. He received his BA Honours in English Literature and his undergraduate in English Literature and Music from the University of Cape Town.

9 replies on “How to create a business plan for writers”

Extremely helpful! Thank you, Jordan.

Hi Allorianna, thank you! I’m glad you found this helpful. See you in the next webinar 🙂

Jordan! Thanks a million! What a detailed and helpful post! I’ve bookmarked this!

Hi Michi, it’s a pleasure. Thanks for reading this and for sharing your feedback 🙂

Excellent follow-up to the webinar! Great tips. I will be printing out the 9 Steps graphic. Thanks for all your expertise.

Hi Billy, thank you for sharing your feedback – I’m glad you found this a helpful supplement to the webinar. It’s a pleasure, happy writing!

Thanks a lot for your work. Great article. Everything is very clear and understandable.

excellent writing and every thing is understandable

Dear Asif, I’m so pleased you found this useful! Thanks for writing in. All the best with your writing.

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Blog • Understanding Publishing

Last updated on Feb 07, 2023

How to Start a Publishing Company in 2024

If you’ve ever watched the reality show Shark Tank , you may have found yourself daydreaming about starting your own business. And if you’re an indie author who’s learning the self-publishing ropes, you might be wondering if you should start your own publishing business — as opposed to just doing everything under your own name.

So before we get to the details of how to start a publishing company, let’s start by addressing that question first: should you start a publishing company? The answer might be yes if you: 

• Are publishing one or more series of books (the hassle of starting a company might not be worth it if you’re looking to publish just one title)
• Are working in an area with a higher risk of liability (such as health-related or technical books) — or are simply looking for added protection of your personal assets
• Are looking to operate as a “professional” writer (as opposed to a “hobbyist” writer)
• Have a concrete brand that you would like to expand to include similar books by other authors

If these criteria don’t apply to you, you’re likely better off publishing your books under your own name. But if they ring a bell, then this guide to starting a publishing company is a great place to start.

Note: this advice is not coming from legal professionals, and any business ventures should be taken after consideration of local laws and consulting with professionals. What follows mainly applies to starting a company in the United States.

Disclaimer withstanding, let’s get started!

The benefits of starting your own publishing company

To help you better understand whether this is the right time for you to start your own publishing company, let’s look at the benefits a little closer.

Air of professionalism

While self-publishing is a major accomplishment that should be viewed with pride, many bookstores and libraries will not stock their shelves with books clearly published by authors. In addition, readers are often less likely to purchase an obviously self-published title as they’d prefer to go with books that have been vetted by publishers — which of course means they’re missing out on some great reads!

One of the most obvious markers of a self-published title is that the author’s name is listed as the publisher. However, if you start your own publishing company — say, Reedsy LLC or Reedsy Publishing — you can use that name as the imprint, which might give your book a more “professional” air.

Tax benefits

What is the difference between the IRS seeing your publishing endeavors as a hobby versus a business? Well, if it’s a hobby, then those expenses can only be deducted from your writing income. If they consider those activities as a business, on the other hand, you might be able to deduct writing and publishing-related expenses from your non-writing income.

The IRS encourages entrepreneurs by assuming new businesses will lose money from the outset, and allowing them to offset those losses with tax breaks. If you want to enjoy the tax benefits the IRS affords, then it’s key to operate as a business — and and to show that you are running that business with the aim of making a profit.

Protection from liability

You don’t hear about independently published authors getting sued every day. However, writers who want added protection against any crumbling cookies will find assurance in that fact that when you incorporate or start a business such as an LLC, your personal income and assets are protected.

The ability to grow your brand

Indie authors unite? If you've already set up the infrastructure (a mailing list, traction with sales on Amazon, etc.), then looking beyond your own repertoire of titles and publishing more books that appeal to similar readers is a good idea. You can leverage all your hard work establishing your business and learning marketing to expand your brand and sell more books without having to do all the writing yourself. Of course, this comes with the added responsibility of royalty payments.

How to start a publishing company

Before you can fire up the presses and take the publishing world by storm, there are a few T’s to cross and I’s to dot to give your business the best chance for success. Here is a simple process for starting a publishing company in seven steps:

1. Set goals for your publishing company

Starting a publishing company requires authors to fully become an entrepreneur in their own right and is not an endeavor to be taken lightly. If you’re toying with the idea, here are a few questions to ask yourself:

• Why do you want to start a publishing company?
• What kind of books do you want to publish?
• Will you publish your books only, or titles from other authors, too?
• What income range are you expecting this business to yield?
• How do you see your business growing in the next year? Five years? Ten years?

These are questions you should readily and passionately be able to answer before you get started, as they will affect your business decisions.

2. Choose a business structure

We know, we know, can’t we just skip ahead to the fun part, like choosing a company name? Not just yet, there’s some important groundwork to be laid first, like deciding exactly what type of company you are looking to start.

Businesses come in many shapes and forms. When it comes to publishing in most territories, the main choices are:

• Sole proprietorship: a business operated and owned by one person. The simplest business form, but not the most risk-free (keep reading).
• Corporation: a group of people or an organization authorized to manage the company as a single entity. A more complex business form.
• Partnership: two or more parties contractually agree to manage and operate a business
• LLC: provides the protection of assets that a corporation receives with versatility and pass-through tax benefits of a partnership or sole proprietorship (meaning a business taxes can be paid through someone’s personal tax return).

Most authors will decide to start their own publishing companies as an LLC or sole proprietorship, as these are the most flexible and simple business forms of the bunch. However, our personal suggestion is that you set up as an LLC . As mentioned before, LLCs offer the most liability protection , meaning your personal assets are protected from any debts incurred by the business.

For more information on what structure best suits your goals , check out the Small Business Administration .

3. Pick a business name

After all that business talk it’s time to have some fun: it’s time to christen your publishing company! Here’s a couple of things to keep in mind when deciding on a name :

• Branding. What market or niche are you targeting? In which genre does your company publish? These questions will help you refine your company’s brand — and its name should be a reflection of that. If you’re planning to publish middle-grade fiction primarily, choose a name that reflects that. Take a look at other publishing companies to get a sense of how their name reflects their brand.
• Relatability. We live in a fast-paced world and your allotted time frame to capture someone’s attention is slim to none. So it pays to be strategic when coming up with a name, and to use words that readers will already be familiar with. If there’s a made-up word you really want to use, ask yourself what it will communicate — if anything — to people at first glance.
• Keep it short and to the point. Superkalifragilistikexpialigetisch Press isn’t a smart move.
• Don’t use the word “Inc.” unless you are actually planning to incorporate your business

Finally, make sure whatever name you choose hasn’t already been taken! Check if the name is already trademarked and then search for the availability of the URL-version on a domain registrar site like GoDaddy.

Obtain your Employer Identification Number (EIN)

Once you have a business name, you have to register it with the government. This is a nine-digit number provided by the IRS that includes information about the state the business is registered in. Think of it a bit like your company’s social insurance number. Learn more here .

4. Open a business bank account

After you’ve received an EIN, you can register for a business bank account which will allow you to keep your business and personal finances separate. This will ensure your personal assets are protected should a lawsuit ever arise (knock on wood, this is just a precaution!) and it will make it easier for you come tax season.

Also, consider setting up a PayPal account for online transactions.

5. Set up an accounting process

Stifle that yawn, because this is an important, can’t-be-overlooked step! Whether you’re using a free resource like Google Sheets, a paid tool like Quickbooks, or outsourcing accounting work to a professional, nailing your bookkeeping practices down from the start is essential. It will help you track which of your efforts are paying off and ensure you have a record of all expenses which will be handy for tax write-offs.

Here are a few pieces of accounting software that might come in handy:

• Quickbooks. With over 4.8 million users worldwide, it’s one of the most popular accounting applications. While it has a vast number of tools for all kinds of business (brick and mortar, e-commerce , home-based, etc.), it caters especially to small businesses.
• Freshbooks. A great option for invoicing needs , it allows users to easily add billable time and expenses, customize the look of the invoice, and set up recurring invoices, automatic payment reminders, and late fees.
• Zoho Books. This is a good option for very small businesses looking for a simple solution. It offers basic accounting features, with the option to integrate and access advanced tools as your business grows.
• Wave Financial. If you’re looking for a free option , this might be your best bet. It doesn’t have any bells and whistles, but it does offer no-charge, cloud-based accounting functions designed specifically for small businesses.

6. Create a company website

When people want to know more about your company, it’s likely their natural response will be to Google it. A website is the best way to capture those interested leads and to tell people more about your business. 

You may be tempted to add a page to your author website, but that would be a mistake. Ideally, your publishing company should have its own public identity and branding, even if it starts out only publishing your work. If you want to gain an air of professionalism, this is the way to go. 

Again, we recommend GoDaddy for registering your domain name. A free domain like yourcompany.wordpress.com just won’t do. 

7. Grow your team of publishing professionals

Trust us, your publishing company will only get by with a little help from some friends. Professional ones, hopefully, with lots of experience in publishing. Growing your team is especially necessary if you want to become one of the big players in publishing .

Launching successful titles comes with a lot of specialized work, such as editing, cover design, interior formatting, web design, marketing, etc. Luckily you can turn to online marketplaces (such as Reedsy !) to hire those services — and you don’t need to break the bank at the same time. One of the benefits of starting a publishing company these days is that you can keep things pretty lean by building a network of freelancers you trust, without getting tied down to a head-count.

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And you won’t be alone: more and more traditional publishers are looking to freelancers to help develop books .

We hope this information helps you decide whether starting a company is the right path for you, and, if so, how to start a publishing company that hits the ground running.

Continue reading

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According to estimates published by the United States Census Bureau, retail book sales exceeded $16 billion per year in 2009. If you want a piece of the book-selling pie, start your own book publishing company. Whether you plan to sell printed or online e-books, the overall process of starting up a book publishing company is about the same.

Choose a book genre and market segment to target. Decide if you want to publish fiction or non-fiction titles. Narrow the genre and segment as much as possible — for instance, romance novels for women ages 35 to 45 — and use this information when you are formulating your overall book-publishing plan.

Select a name to represent your book publishing company. Register your new company with the state if you plan to accept sales directly from readers, since you may have to collect sales tax depending on your state requirements.

Create a marketing plan as well as a general business plan to guide the operation of your book publishing company. Include information regarding how many titles you plan to publish each year, your budget and advertising plan.

Compose a listing of libraries and bookstores both locally and nationwide where your authors can visit at each book release to promote and publicize their books. Compiling a database of possible book signing locations allows you to put together book tours more efficiently.

Commission writers from your chosen genre to publish with your company. Draw up a book-publishing contract outlining each arrangement, including royalty rates, payment frequency, rights, options and manuscript delivery requirements for each book.

Hire a reliable and professional book editor, typesetter, designer and printing company to handle the formatting and production of your manuscripts. If you plan to publish e-books, you don't need a printer.

Establish arrangements with book distributors and wholesalers to carry your books. They will likely want to see your marketing plan to see how you plan to get the word out about your titles.

Establish a book publishing website to attract readers and new potential authors as well as interested parties, such as reviewers.

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Louise Balle has been writing Web articles since 2004, covering everything from business promotion to topics on beauty. Her work can be found on various websites. She has a small-business background and experience as a layout and graphics designer for Web and book projects.

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The Publishing Business Plan ; 7 Essential Elements

If you are like most aspiring authors, the idea of becoming a published author probably excites you. Even if you are planning to produce an ebook to boost your business, adding “author” to your credentials could represent the fulfillment of a dream you’ve had your whole life or might catapult you into the ranks of the other authorities and thought leaders in your industry.

It’s important to realize that you are not just becoming an author. You are also becoming a publisher. And with that new title comes a new start-up business.

Author vs. Entrepreneur

If you are like most aspiring authors, you may just want to write. You may have no desire to become an entrepreneur. Most writers don’t realize that when they decide to self-publish their work they are making a decision to go into business.

In fact, when you choose to self-publish a book—any type of book— you go into business for yourself. You actually become a publisher and open a publishing company.

You go into the business of writing, producing, and publishing your own books. To a certain extent, you also are responsible for distributing those books, or for finding a way to do so.

If you are writing ebooks to support your existing business, you now have a new business venture to support. As with any other business, it takes time, effort…and money.

How to Create a Business Plan for Your Indie Publishing Company

Besides your good, marketable ebook ideas, you need a variety of things to get your publishing business up and running. First, you need a business plan.

Any seasoned entrepreneur will tell you a plan is necessary to start a company.

A book proposal serves as a great template for such a plan since initially you are creating a plan that revolves around one book. You don’t need to traditionally publish to use it as your business plan; a book proposal serves as an excellent business plan for an indie publisher as well.

This template can be expanded to serve as a business plan for your whole publishing company. I write about this extensively in my new book, The Author Training Manual .

A book proposal is used to prove to a publisher the marketability of a book idea. You want to prove to yourself , since you are the publisher, that your book idea is viable—that it will sell and make you money. And you want to make sure it will enhance, not detract from, your current business.

Seven Essential Publishing Business Plan Elements

There are seven essential elements that should be in every publishing entrepreneur’s business plan:

• A “Resources Necessary to Complete the Book” Calculation

Before you begin any business, or any project, be sure you can afford it. For example, aspiring authors are often shocked at the cost of editing a manuscript, which can prove much more costly than design. Determine what resources you need to complete your book. At the minimum, these can include:

• ISBN numbers
• Ebook conversion
• Permissions
• Review copies
• A Break-Even Analysis

It’s extremely difficult to achieve success if you haven’t defined it. The publishing industry defines success in terms of book sales, and as a publisher, sales must become part of your definition. Must you sell 500, 1000 or even more copies per year to earn back your investment and start making money?

A “break-even analysis” will help you determine this. This entails knowing what it cost to produce your book. Beyond this, how much money do you want to make?

Most companies have monthly, quarterly, semi-annual, and annual goals to meet. This helps them continuously move toward their vision of success—their long-term goal. As the publisher, it’s up to you to create the goals for your company.

• A Promotion Plan

Be sure you create a sound promotion plan for your book. Promotion helps sell books, so this is an important aspect of the book publishing business.

• A Profit and Loss Statement

To keep track of how your company fares financially, you need a profit and loss statement. This allows you to determine if your start up is getting out of the red and into the black. You need to know if your company is actually making money—or if you are losing it. If you publish more than one book, you’ll need to track each.

• Contractor Lists, License Information and Legal Plans

Create a list of contractors you will use to help you run your business—editors, designers, virtual assistants, accountants, etc. Then make a list of the licenses you will need, such as to set up your business in the county where you live, with the tax office, etc.

Then make a list of additional business-related things you need to do, such as set up bank accounts and possibly incorporate your business to reduce personal liability.

• Branding Plans

Make sure you have plans for a website, logo and how you might develop your brand with more books and related products and services. A good publisher always thinks beyond one book.

In fact, you’ll sell more books if you write more books. And you’ll earn more money as an author if you brainstorm additional ways to build a business around your book.

[pullquote position=”right”]The most successful start-up companies are based on sound business plans.[/pullquote] If you are already a business person, you know this. Now apply it to your desire to become an author and self-publish an ebook (or more than one) — to become a successful publisher.

If you are writing an ebook to start a business venture, then treat your desire to get published like an entrepreneurial venture from day one. If you see yourself as a publisher, you’ll be more successful if you do!

This article was originally published on The Future of Ink and is reprinted here in its entirety for our Magnolia Media Network readers.

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For a self-published author, a business plan begins with a mission statement that will help direct your decision making at every stage of the book writing, book promotion, and book selling processes.

As a self-published author, your business plan, even a short one, will help set expectations and reach your goals. Creating a business plan requires that you study the marketplace, research a competitive analysis, and make financial projections.

If you are a one-book author, your business plan might consist of one simple document. If you are planning many books, or your book is tied to a product or service, it will necessarily be more complicated. There are many business plan templates on the web and in books that help.

Your mission and goals

Possibly the most valuable thing a business plan can do is to help you articulate your mission. Whenever you have to make a decision, you can return to your mission statement to help determine if the action you are about to take serves it. You may be tempted to skip this step and just blindly jump into publishing your book, but think it out, write it down and modify it as you become more aware of the challenges of becoming an author.

Authors have told me again and again that this step has helped give them a reality check and eased their mind about writing and publishing.

For example, why are you writing this book? Is your mission to change the world, to make money, to support your business, to leave a family legacy? Your goal may be to entertain or inform a small audience‚ a family or community‚ or a larger audience in a geographic area, profession, lifestyle, or interest group. Maybe you are writing to establish yourself as an expert in your field or to promote other products and services you offer. (Do you envision spinoff DVDs, workshops, a line of gourmet cookware?) Perhaps you are shooting for an international bestseller? It has been known to happen!

Perhaps you are among the many traditionally published authors disillusioned with the industry who are turning to self-publishing and creating your own small press. Will you use your book as part of a book proposal to try to attract an agent and publisher?

Raising funds

While it may be difficult to make a living as an author, it’s actually not all that hard to raise enough funds to create, produce, and publish your book. You may self-fund with your day job, or perhaps you’re retired with a small income. There are other ways to raise funds, too. Pre-selling is an option and crowdfunding has enabled lots of authors to finish their books and spread their message. Pre-selling is rather easier than crowdfunding, which requires lots of thought, planning, and marketing.

If you have a store on your website, you can begin pre-selling whenever you like, and you keep the profits (minus shipping and any store merchant account fees you may incur). Gumroad, Sellfy, and Selz are great storefronts with widgets that you can embed on your site to sell beta and final versions of your eBook and print book. They’re easier to use than PayPal, eJunkie, Amazon’s solutions.

Author crowdfunding

Many authors are choosing to crowdfund their work, and there are now many platforms to choose from. The most well known are Kickstarter, IndieGoGo, and PubLaunch. To explore the pros and cons of each platform, I interviewed successful authors from each of them to find out why they chose it and to get tips for you from their success. Publisher-crowdfunded platforms have also cropped up and below I describe Inkshares and Unbound. The information here is adapted from my in-depth PBS MediaShift series on author crowdfunding. [Ed. note: we also profiled Publishizer in a previous blog post.]

Kickstarter

Since Kickstarter ’s launch in 2009, more than 5.2 million people have pledged more than $900 million, funding nearly 53,000 creative projects like films, games, books, music, art, design and technology. Project creators set a funding goal and deadline. If people like a project, they can pledge money to make it happen. Funding on Kickstarter is all-or-nothing. Projects must reach their funding goals to receive any money. To date, nearly 44% of projects have reached their funding goals. Kickstarter takes 5% of the funds raised. Funders pay via Amazon Payments (only), which then will apply credit card processing fees (between 3% and 5%).

PubLaunch acquired PubSlush this year and will officially relaunch in February 2016. I don’t know how much of PubSlush’s business model they will keep, but it’s clear that their crowdfunding platform will remain focused on authors, so stay tuned. So far they promise a crowdfunding service and a vetted industry marketplace where you can find the right publishing professionals for your book.

IndieGoGo was founded in 2007 as a place where people who want to raise money can create fundraising campaigns to tell their story and get the word out. It charges 4% of the money you raise if you meet your goal or 9% if you do not.

Other good crowdfunding programs are Inkshares (San Francisco) and Unbound (in the UK). The Leanpub iterative publishing platform allows you to sell as you write your book, or to serialize your book.

Your sales strategy

Your bookselling journey may be a short one, or it might be a long, fluid, and creative process. It can sometimes take years for a book to take off, so set up good channels, good relationships, and good communities. Never stop marketing. There are many ways to sell.

POD sales. By printing and distributing with a POD service, your print book is mailed to customers on-demand when they order from online retailers in their expanded distribution program.

eBook sales. Create and sell eBooks in many formats for many eBook readers, for sales and distribution in the widest possible array of online markets.

Direct. Use your website for direct sales in your own on-line store for both print and digital books. You can sell using PayPal , eJunkie , Gumroad , Selz , Sellfy or by using any number of integrated payment systems.

Mailing physical books. Books fit nicely in a free USPS Priority Mail envelope, and a stamp costs about $5. (You can charge the customer for shipping.) Customers will receive the book in two days, which makes them very happy, especially during the holidays, and especially if it’s autographed. Do send your books priority or first-class mail. The drastically lower cost of media mail might be tempting, but it can take a very long time to deliver, and sometimes (especially during the holidays) your book is likely to arrive to the customer later than they want. It also may be damaged, as media mail bangs around at the bottom of the pile.

Retail sales. Sell to brick-and-mortar booksellers and retailers in your niche. When you sell direct to retailers, you can negotiate their discount. 40 to 50% is standard. You will probably be asked to sell on consignment, which means you won’t be paid until the books are sold.

Back-of-room sales. Take advantage of back-of-room sales at personal appearances to earn 100% of profits. At some events, you may be asked to pay a small percentage to the organization or tip a cashier.

Specialty distribution. It’s also possible to sell through specialty distributors‚ for example, someone who travels to conferences and sells books for you. Expect to discount your book 50 to 55%.

Exclusive distribution

If you’ve written a book to boost your business you may want to offload sales and distribution to a company who specializes in these tasks. These kinds of companies only take on books they think they can sell, so you’ll need to pitch them. They also take a lot of your profits, 65% and up. The most popular solution for indie authors with commercially viable projects is IPG’s Small Press United (SPU). SPU was formed as a branch of IPG’s distribution service for traditional publishers to serve self-publishers. All the authors I know who have used them like them a lot. You may also choose a specialty small press to serve as your distributor. The sooner in the book creation process you can contact them, the better. They may have valuable insights and advice on editing, design, and production.

Pricing your book

You may be tempted to calculate the price of your book based on what it cost to produce it. That doesn’t work; you really need to price your book to compete in the marketplace. eBook prices are all over the place, but are becoming standardized at 20% to 25% less than the least expensive print edition. $9.99 also seems to be a consumer-accepted price for eBooks.

Image vis ShutterStock.com .

This post was excerpted and adapted from Carla King’s Self Publishing Boot Camp guide for authors. Published with permission.

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Build your platform. engage your fans. sell more books., 6-month business planning guide for authors.

by Kimberley Grabas

As an author, you know that publishing a book is just the beginning of your journey. In order to turn your book into a successful writing career, you need to have a clear plan in place. This 6-month business planning guide for authors will help you lay the foundation for long-term success.

Step 1: Define Your Goals

Before you can create a plan, you need to know what you’re working towards. Take some time to think about your goals as an author.

• Do you want to make a full-time living from your writing?
• Do you want to build a platform to help you land a traditional publishing deal?
• Do you simply want to share your message with as many people as possible?

Your goals will shape every decision you make, so it’s important to be clear about what you want to achieve.

Write down your goals and keep them in a place where you can refer to them often. This will help you stay focused and motivated as you work towards your objectives.

Step 2: Evaluate Your Resources

Next, take stock of the resources you have at your disposal. This includes things like your time, your skills, and your network. Make a list of all the resources you have and consider how you can use them to achieve your goals .

For example, if you want to make a full-time living from your writing, you’ll need to be able to devote a significant amount of time to your author business.

If you have other commitments that will eat into your time, you’ll need to figure out how to manage your schedule or delegate some of your tasks.

If you have a particular skill set, such as marketing or graphic design, you can leverage those skills to help promote your book and build your brand .

And if you have a large network of people who can help you get your book in front of more readers, that can be a valuable resource as well.

Step 3: Identify Your Target Audience

In order to sell your book, you need to know who you’re selling it to . Take some time to research your target audience and figure out what they’re looking for in a book.

Identify the specific group of people you’re trying to reach with your marketing efforts. Consider their interests, values, and needs, and tailor your marketing message accordingly.

This will help you modify your marketing efforts and make sure you’re reaching the right people.

Start by thinking about the genre of your book.

• Who are the typical readers of books in your genre?
• What do they like to read?
• What do they value?

Next, consider the themes and topics covered in your book. Who might be interested in these ideas? Are there any specific groups or communities that might be particularly interested in your message?

Will you be targeting a more general audience or a niche group?

Finally, think about the format of your book and additional offerings:

• Are you writing a physical book or an ebook? Are you creating a series? Will there be an audio version?
• Will you offer companion courses, workshops, downloadables (like workbooks, coloring books, or other materials), or perhaps a community hub?

All of these factors will help you identify your target audience and figure out how to reach them.

Step 4: Create a Marketing Plan

Now that you know who you’re targeting, it’s time to start thinking about how you’re going to reach them.

A good marketing plan should include a mix of tactics that will help you spread the word about your book.

Create a presence on platforms like Twitter, Instagram, TikTok (or wherever your ideal audience spends time), and start sharing updates about your book. Share excerpts, behind-the-scenes glimpses, and other interesting content that will help you connect with your audience.

While some authors are starting to pull away from social media , you still may want to have a presence on at least one social platform to aid in your outreach or to leverage paid ads.

You should also consider reaching out to book reviewers and book bloggers who might be interested in reviewing your book. This can be a great way to get some early buzz and help you reach new readers.

You might consider hosting events or joining author panels at conferences or book festivals. This can be a great way to connect with readers in person and build your brand.

Another tactic to consider is paid advertising. This can be a more advanced (and often expensive) option, but it can also be very effective in reaching a large number of people in a short amount of time. Platforms like Amazon Ads and Facebook Ads allow you to target specific groups of people and track the success of your campaigns.

Here are some additional elements to include in your marketing plan:

• Marketing channels : Determine the best channels for reaching your target audience. This might include social media, email marketing, paid advertising, or podcasting.
• Marketing messages : Develop a consistent message that resonates with your target audience and reflects your author brand.
• Marketing and content calendar : Create a schedule for your marketing efforts, including the specific content you’ll create, actions you’ll take, and deadlines for completing them.
• Book blurbs or reviews : Gather quotes from reviewers or influencers that can be used in your marketing efforts. These can be powerful tools for convincing potential readers to pick up your book.
• Marketing materials : Develop marketing materials such as downloadables, a book trailer, or promotional graphics that can be used to promote your book.
• Marketing partnerships : Look for opportunities to collaborate with other authors or companies to promote your book. This might involve guest blogging, cross-promotion, or co-hosting an event.
• Marketing automation : Consider using marketing automation tools (like Convertkit ) to help you manage and execute your marketing efforts more efficiently.
• Measurement and evaluation : Set specific metrics to measure the effectiveness of your marketing efforts (e.g. sales, email subs, post/podcast engagement) and regularly evaluate your progress. This will help you identify what’s working and what’s not, so you can make adjustments as needed.

Here’s a simple example of how a marketing plan might look for an author promoting their new book:

Target audience : Book lovers in the mystery/thriller genre, ages 25-45

Marketing channels : Social media (TikTok, Twitter, Instagram), email marketing, paid advertising (Amazon Ads)

Marketing budget : $200/month

Marketing messages : “Get ready for the thrill ride of your life with our new mystery/thriller novel. Follow us on social media for exclusive content and behind-the-scenes looks at the book.”

Marketing calendar :

• Week 1: Launch a social media campaign and set up an email newsletter sequence to subscribers announcing a price promotion
• Week 2: Run Amazon Ads targeting mystery/thriller readers
• Week 3: Host a Q&A on Instagram with the author
• Week 4: Run a contest to win a signed copy of the book
• Week 5: Reveal your writing space on TikTok and post a YouTube Short of you signing copies of the book to send to fans
• Week 6: Collaborate with other authors in the genre on a blog tour to promote the book

By creating a marketing plan, you’ll be able to focus your efforts and make the most of your marketing budget. It’s also a good idea to review and adjust your plan regularly to make sure it’s still aligned with your goals and effective in reaching your target audience.

Step 5: Develop a Sales and Distribution Plan

Now that you’ve got a plan in place for marketing your book, it’s time to start thinking about how you’ll actually sell it.

There are several options available to self-published authors, and the right one for you will depend on your goals and resources.

One option is to sell your book through online retailers like Amazon, Barnes and Noble, and Apple Books. These platforms make it easy for readers to discover and purchase your book, and they also offer tools like Kindle Direct Publishing (Amazon) that allow you to manage your sales and royalties.

Another option is to sell your book directly to readers through your own website . This can be a great way to build a relationship with your readers and keep a larger portion of the profits from your sales. To sell your book directly, you’ll need to set up a payment system and create a way for readers to download your book.

If you’re interested in reaching a wider audience, you may also want to consider distribution through traditional channels like bookstores and libraries . This can be a more complex process, but it can also be very rewarding if you’re able to get your book into these outlets.

Step 6: Create a Financial Plan

Finally, it’s important to have a financial plan in place to help you manage your income and expenses.

Start by setting a budget for your marketing and promotion efforts . Determine how much you can afford to spend on advertising and other marketing tactics, and stick to your budget as closely as possible.

You should also create a system for tracking your income and expenses. This will help you understand where your money is coming from and where it’s going, and it will also give you a better sense of how your business is performing.

In addition to tracking your income and expenses, you should also set financial goals for yourself . This could be as simple as earning a certain amount of money from your book sales each month, or it could be more ambitious, like saving a certain amount of money for a down payment on a house.

Whatever your goals, having a clear financial plan will help you stay on track and achieve your objectives.

Creating a successful business as an author requires a lot of hard work and planning. But, by following this 6-month business planning guide for authors, you’ll be well on your way to building a foundation for long-term success.

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Ebook Business Plan: How to start and run a successful ebook publishing and distribution company

Starting and running a successful ebook publishing and distribution company requires a combination of strategic planning, marketing, and ongoing efforts to create high-quality ebooks and engage readers. Here is a step-by-step plan for starting and running a successful ebook publishing and distribution company:

Develop a clear business model: Identify the target audience for your ebooks and determine how to monetize the business, whether through ebook sales, sponsorships, or advertising.

Conduct market research: Research the ebook market, including the competition and the latest trends, to inform your business decisions.

Source authors: Identify and sign authors with a strong following and subject matter expertise, or create ebooks in-house.

Create high-quality ebooks: Invest in professional editing, design, and formatting to ensure that your ebooks are of the highest quality.

Build an author platform: Create a website and social media presence for the author(s) associated with the ebooks. This allows readers to connect with the author and stay updated on new releases.

Utilize online marketplaces: List ebooks on popular online marketplaces such as Amazon Kindle Direct Publishing, Barnes & Noble Press, and Kobo Writing Life.

Develop a marketing strategy: Create a plan for promoting and marketing ebooks, including utilizing social media, online advertising, and email marketing.

Build relationships with bloggers and reviewers: Connect with book bloggers and reviewers to increase visibility and credibility for the ebooks.

Create a community: Build a community around the ebooks by creating an online forum or group or by hosting events or webinars related to the ebooks' topic.

Continuously evaluate and adjust: Regularly evaluate the performance of the ebooks and the marketing strategy, and make adjustments as needed.

Diversify income streams: Diversify income streams by creating additional products like audiobooks, print books, and merchandise.

Leverage technology: Utilize technology to automate and streamline various aspects of the business, such as email marketing, social media posting, and financial tracking.

Hire a team: As the business grows, consider hiring a team to help with tasks such as editing, design, marketing, and customer service.

Overall, starting and running a successful ebook publishing and distribution company requires a clear business model, market research, sourcing authors, creating high-quality ebooks, and implementing a comprehensive marketing strategy. Additionally, it's crucial to continuously evaluate and adjust the business plan, diversify income streams, leverage technology and hire a team as the business grows.

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Understanding the Financials of a Book Publishing Company Business Plan

A crucial aspect of a business plan for a book publishing company is the financial section, which includes projected income statements, balance sheets, and cash flow statements. This section provides an overview of the company's financial performance and is used to make informed decisions about the company's operations and budgeting.

The income statement, also known as the profit and loss statement, shows the company's revenue and expenses over a specific period of time. It is used to determine the company's net income or loss and is an important indicator of the company's overall financial performance. The income statement should include projected revenue from book sales, as well as any other sources of income such as grants, subsidies, or investments.

The balance sheet is a snapshot of the company's financial position at a specific point in time. It shows the company's assets, liabilities, and equity. The balance sheet is used to determine the company's net worth and is an important indicator of the company's solvency. The balance sheet should include projections for the company's cash, accounts receivable, inventory, and fixed assets.

The cash flow statement shows the company's cash inflows and outflows over a specific period of time. It is used to determine the company's net cash flow and is an important indicator of the company's liquidity. The cash flow statement should include projections for cash from operations, investing, and financing activities.

The financial section of a business plan for a book publishing company should also include an overview of the company's funding requirements and the sources of funding that will be used to support the business. This includes information on any loans, grants, or investments that will be used to start and maintain the business.

Overall, the financial section of a business plan is a critical aspect of a book publishing company, as it provides a clear and detailed overview of the company's financial performance, position, and funding requirements. It is used to make informed decisions about the company's operations, budgeting, and growth.

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The CEO’s secret to successful leadership: CEO Excellence revisited

In March 2022, McKinsey senior partners Carolyn Dewar, Scott Keller, and Vikram Malhotra launched CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest (Scribner/Simon & Schuster, March 2022), a New York Times and a Wall Street Journal  best-selling book that revealed the characteristics of the world’s most successful leaders. The authors studied nearly 8,000 CEOs across the globe and across various sectors to determine what set these leaders apart from the rest. Through detailed interviews with 67 successful CEOs, they uncovered the mindsets, approaches, and practices that informed their leadership styles and delivered powerful results.

Since 2022, CEO Excellence has gone on to sell more than 161,000 copies and is being translated into 14 languages. To commemorate the second anniversary of this international business bestseller, McKinsey Global Publishing leader Raju Narisetti sat down with Dewar, Keller, and Malhotra once again. In this retrospective, the authors revisit their journey of writing the book and reflect on its global impact. They also offer more practical insights for CEOs and aspiring leaders who are eager to excel in an increasingly challenging operating environment. An edited version of the first installment of this three-part conversation follows. Be sure to check back next week for the second part of the discussion, which will focus on the authors’ personal reflections and on their latest research.

Defining successful leadership

Remind our audience: Why did the three of you set out to write this book?

Scott Keller: We tell a little story at the beginning of the book about when it dawned on us that we should write it. But beneath that story are three things that we recognized. One is that this is a very important role. All the research conducted by some of our colleagues for a book called Strategy Beyond the Hockey Stick , which came before ours, suggested that high-performing CEOs and the high-performing companies they led  dramatically outperformed the others.

If you are a company that has stayed in the top quintile of performance for more than ten years, you have 30 times the value creation for your stakeholders than the next three quintiles combined. They call it “the power curve.” That’s a lot of extra value created.

Second, there’s a lot of research on the CEO effect. The CEO effect essentially looks at, “How much do the actions a CEO takes affect company performance?” The research suggests that, over the past 50 years, the importance of what the CEO does for a company’s performance has increased twofold.

There are 70 million people who work for the top 2,000 companies in the world. It touches an incredible amount of souls and lives. When you think about the ethical, social, and environmental impact of big companies, you start to say, “That’s really important.” That’s a big deal. Then, you say, “Well, how are we doing as leaders in the role of the CEO?” And then you get to the statistics that say, “Two in five CEOs within 18 months of taking the role are struggling. One in three, after three years, are asked to leave.”

There’s some data that suggests that 60 percent of CEOs feel like they’re making it up as they go, because the role is one you can’t really prepare for. It’s one you’ve never had before. The third realization is this: “What is out there to help CEOs excel in this really important role?”

Sure, there are biographies from CEOs, and they’re well written. But they’re typically exciting because of a combination of personality, business context, and unique situation. They’re hard to generalize.

Then there’s work done by academics, which tends to be very descriptive. There’s work done by headhunters, which tends to be very trait-based: What traits do you need to have to become a CEO? But there are very few handbooks that ask, “How do I do the role well?” Those were the things that made us say, “Look, it’s an important role. It’s really hard. There’s not a lot of help out there. Why not McKinsey, and why not us to help fill that void?” To fill that void, we said, “We’re going to do two things.” First, we want to really clarify, “What is the role of a CEO?,” because we couldn’t go to a source and get the answer to that. Second, and most importantly, we want to answer, “What is it that separates the best from the rest?”

First, we want to really clarify, ‘What is the role of a CEO?,’ because we couldn’t go to a source and get the answer to that. Second, and most importantly, we want to answer, ‘What is it that separates the best from the rest?’ Scott Keller

To do that, we had to first identify, “Who are the best?” We had our own methodology for that, which was rigorous, and it took into account a number of factors, not just financial performance, but social, ethical, and environmental impact.

We wanted a group that had been tenured—so they had to “eat their own cooking,” so to speak—and that had been in the role for a long time. We wanted those who had won the approval of their shareholders and stakeholders. We also wanted a very diverse group. So our methodology was adjusted to make sure we had geographic, ethnic, racial, and gender diversity.

We ended up with 200 CEOs who we felt represented the best CEOs of this century to date. We then said, “Let’s get a statistically valid sample of them, interview them, and try to understand what separates the best from the rest.”

What did we actually find? Well, if you say to us, “What is the role of a CEO?,” we’re now crystal clear on what that is. We would say the irreducible core of the role consists of six things you will need to do:

• set the direction
• align your organization on that direction
• mobilize your leaders to deliver on that direction
• work with your board
• connect with a group of stakeholders
• manage your personal effectiveness

Whether you’re a great CEO or not, these are the six roles of a CEO. Six feels like a lot, but it’s a big job, and it’s a hard job, as we just described. I think all of our CEOs looked at that list and said, “You know what? That’s a good taxonomy.”

Then we had to answer the question, “What separates the best from the rest?” We started asking a lot of questions about what these CEOs did. There weren’t a lot of patterns that emerged. We then adjusted our approach using a technique called laddering. In operations, the technique is essentially the equivalent of what they call the “five whys.”

In operations, if a machine stops working, you say, “Why?” Well, the engine burnt out. Why? Because it overheated. Why? Because it didn’t get enough ventilation. Why? Because it was too close to the wall. Now we know the root cause, and we don’t just change the motor. We actually move the machine away from the wall. When applied to leadership, the laddering technique takes you from actions and behaviors to just how people think about the world and about their mindsets.

When we began that form of inquiry, we started to see concrete patterns of, “Ah, this is how this group of excellent CEOs thinks about direction setting. This is how they think about aligning the organization.” The power of mindsets is pretty profound.

To articulate the six mindsets that separate the best from the rest, you need to say, “What is it about direction setting? How do these leaders approach it? What do they think about it that causes them to act? What predisposes them to act in a certain way?”

Imagine you get handed the keys to drive an organization that’s worth $30 billion and has 20,000 employees. It would be easy to have a mindset that says, “OK, discretion is the better part of valor here. Do no harm is the first thing that I need to think about,” and to be relatively conservative.

Our CEOs did not have that mindset. They had the opposite mindset, which was, “Be bold. Fortune favors the bold.” They were consistently considering, “How do we take the next step, that change in performance?” We describe a lot of what they did that comes out of that. But “Be bold” was the mindset that really separated the best from the rest.

On the topic of aligning your organization, we often link to the Einstein quote of not everything that counts can be counted. I think people get that. When you think about organization, culture, talent, and more, people often think of that Einstein quote.

It matters, but it’s hard to count. We call it soft. Our CEOs didn’t think about it that way. The CEOs we interviewed said, “We’re going to put the same level of rigor and discipline into the ‘soft’ stuff that we put into all of our financial and operational work.”

They found ways to do that, because they had the mindset that said, “We will put rigor and discipline into the soft stuff.” Very powerful.

As for mobilizing leaders—the team and leaders that are close to you—the CEOs considered dynamics. They thought less about the mechanics of, “What do we meet on, with whom, and when,” and a lot more about, “What is the psychology of our team?” It was about dynamics, not mechanics. Are people showing up as what I would call thermostats, not thermometers?

It’s easy to show up and report what’s going on, in the way a thermometer would. But to actually do things that change the outcome is what you want in your leaders. Are people showing up as “we” versus “me”? They think about the psychology on a number of dimensions and work on that psychology. That’s more about where they put their time rather than the mechanics of how to run the team.

A lot of CEOs see their board as, “My job in relation to my board is to help them do their fiduciary duties.” Our CEOs? “My job as CEO is to help the board help the business.” Regarding stakeholders, it was less about thinking of the actions in relation to stakeholders and more about the motivations.

It begins with the why. Reed Hastings [cofounder and chairman of Netflix] gave a great, simple example of this. He said, “When I talk to the media, I know they want to be truth tellers. That’s why they got into the job. But they also have to be entertainers, because that’s how they get cut-through on their stories.

“So when I talk to the media, I understand their why. I understand what they’re solving for. And I give ‘em a bit of both. And I then get cut-through on what I want, which is the message to get through for Netflix.” So starting with why versus starting with what, who, when, or where is very important when it comes to stakeholders.

Finally, in terms of personal effectiveness, you are accountable for everything. It would be easy to have the mindset that says, “I need to do anything that needs to be done around here.” Our CEOs did not have that mindset toward their role.

They said, “I need to do what only I can do as the CEO and with the capabilities I have.” They were very focused on areas where they would get involved and delve more deeply, rather than letting themselves get spread thin in a way that adds very little value to other leaders and to the company. So that’s the answer as far as the six roles of the CEO and the mindsets that separate the best from the rest.

The book was the first time you put it all together: the audience is CEOs and aspiring CEOs. What was the response?

Carolyn Dewar: The response has been tremendous. It really has. Maybe even surprisingly so to us, to our colleagues, and to others, in terms of people’s openness and willingness to learn and share.

There could be a myth out there that, “Well, they’re CEOs. They must all be perfect already. They already know what they’re doing.” This opened the conversation that these are hard jobs. There’s volatility in the world right now, too.

It’s OK if we don’t all have all the perfect answers. There are some truths based on the data, on some insights, and on some patterns in terms of what mindsets work well. But I found that people were really excited to engage in questions like, “What does that mean for me? How do I learn? What does that look like?” I found this to be true even for—and perhaps less surprisingly so—folks who aspired to the role, who are trying to look ahead and say, “What do I need to do?”

This is the case for new CEOs in the role who are going up a very quick learning curve and trying to juggle all kinds of things. It’s even the case for those who’ve been in the role for a long time. When we played it back to the 67 high performers we interviewed, for example, Satya Nadella [Microsoft CEO and executive chairman] and Jamie Dimon [Chase CEO), all these folks who’ve been in the role for many, many years, they saw something in it, too.

Seeing it written out that way, even the six elements of the role, there was recognition that prompted, “Wow, I’ve never seen it laid out that way. And now that I see it that way, I understand why I’m so tired, why this job is so hard, why it’s so important.”

There was a broad recognition that the insights resonated and that they were true, but then there was a real hunger to engage and have hundreds of one-on-one conversations asking, “What does this mean? How do I think it through? How can I apply this in the day-to-day?”

There was a broad recognition that the insights resonated and that they were true, but then there was a real hunger to engage. Carolyn Dewar

The part that has made me most excited is actually seeing all of the versions that people have created. Tons of folks have shared in real time or have sent us photos of the crib sheets that they’ve created—or the worksheets, or the thing that they’re now using as a bookmark.

The idea that there are these CEOs around the world who are now using this book in their back pocket as a practical tool really makes you realize that you are never too seasoned in the role to learn. That message has really resonated.

I guess there’s a reason why the book shows up in a Netflix documentary.

Vik, you’ve spent a lifetime listening to CEOs and then talking to them. What was the response?

Vik Malhotra: One thing of the many things that surprised me was that I thought we were writing the book for either current or aspiring CEOs. It really has turned out to be a book about leadership.

There are a lot of people in an organization who have the aspiration to be a leader . It may not just be the CEO. It could also be the business unit head or a CXO [chief experience officer]. They’re eager to learn the leadership lessons here, too. They may realize that they may not end up having to do everything these great CEOs do. But there are plenty of learnings in there, particularly if you run through the list of dimensions. This is certainly true when it comes to setting the direction, aligning the organization, mobilizing through leaders, and managing the effectiveness of your own personal operating model.

Those four dimensions resonate with anyone who has an aspiration to be a leader. You get into more CEO-like territory when you start working with the board or begin dealing with a broader range of stakeholders.

I was very inspired by the fact that at least two-thirds of the book resonated with anyone who wanted to be a leader. They were grasping for lessons, frameworks, and ideas. They loved the stories. So when someone like Ajay Banga [president of World Bank Group] says, “You know, I boiled my vision down to two words, which is kill cash,” they say, “Oh, my God. It can be that simple,” right?

Of course, there are lots of cascading elements that come off it. But they understood the boldness. It’s one thing for a consultant to tell leaders, “Be bold.” It’s another thing when they actually see practical examples of people who’ve done it. They see the success play out, market cap, company growth, and societal impact.

There’s a large group of people out there who just want to be leaders, but not necessarily CEOs. Yet they got a lot out of this book. Then there was the next group, who were the aspiring CEOs. It might be a step or two away, sometime in the next three to five years.

It’s one thing for a consultant to tell leaders, ‘Be bold.’ It’s another thing when they actually see practical examples of people who’ve done it. Vik Malhotra

There were brand-new CEOs as well. They were hungry for a framework for thinking about their role. They were hungry to learn actions they might take: “Here are some things I can do about being bolder in my direction tomorrow,” or “Here are things that I can do in terms of shaping one element of my culture better,” or “Here are some actions I can take on talent.”

I’d say the more tenured CEOs were a mixed bag. There were clearly people who got the joke that, “If you’re going to be a CEO for nine years, there are probably three S-curves here.” They were eager to learn in terms of, “OK, if I’m approaching my three-year point, what does it mean to be bold, given what I’ve done relative to the go-forward picture?”

But there were others who were actually quite comfortable in their skin. They felt like they understood the role. That was OK, too. I haven’t quite done the math yet on whether their companies ended up in a better spot than the others. One day, we’ll do that. Once in the role for a while, some CEOs are very inquisitive, but there are others who are less so.

Scott Keller: Could I add two quick things on that topic? There are over 1,000 reviews now on Amazon, and a 4.7 rating, which is more than we could ever dream of. This reinforces the applicability far beyond senior executives.

There are over 1,000 reviews now on Amazon, and a 4.7 rating, which is more than we could ever dream of. This reinforces the applicability far beyond senior executives. Scott Keller

Raju Narisetti: Astonishing.

Scott Keller: But those 1,000 reviews aren’t from CEOs. They’re written by people from all walks of life, all geographies and profiles. We’ve also been asked to be guest lecturers at business schools: at Wharton, Stanford, and Harvard.

Carolyn Dewar: And INSEAD.

Scott Keller: And INSEAD. It has been interesting to see how hungry these students are to learn from this, as well. I would just reinforce that. The second thing I would say is, in my experience, at least, there are a couple of very senior CEOs who received the book from multiple places and were encouraged to reach out to us.

I would then go and talk to them, and say, “You received the book from four different people. You received it from a couple of people on your board and a couple people on your team. What’d you think of it?”

They would say, “Oh, it’s great. Beautiful articulation of the role.” When I asked, “Did you get any insights from it?” they would say, “Well, it just reinforced all that I’m doing.”

The self-serving bias is real. Tenured CEOs have a self-serving bias. We then said, “Well, why do you think four people handed it to you? What was on their mind? What did they think you could learn?”

“Oh, I don’t really think anything.” For a few of those CEOs, we’ve had them participate in the 360° review process. In the back of the book, there’s a way to do that. It was a real eye-opener for them to say, “Wow, actually, I thought I was great on aligning the organization, but you’re telling me I’m far from great.”

That was very helpful when they took that extra step to understand, “Well, I know how I view myself in relation to all this. But how do others view me?” That’s actually part of our ongoing research. One of our next steps is to create a very simple way to get that type of feedback on a regular basis for a CEO. So being a good CEO means understanding how people perceive you vis-à-vis how you perceive yourself on the six elements of the role.

Talk about the global response. Was it different from what you thought it might be?

Vik Malhotra: I would say that, first, there’s been a broad embrace globally. All three of us have been traveling, speaking to our colleagues, speaking to clients, all around the world: Japan, India, Germany, the UK, Latin America.

While these timeless lessons clearly apply, regardless of context, and geography, and the like, there are some important differences in certain countries. I don’t think you change how you think about being a leader, but you have to factor these differences in.

While these timeless lessons apply, regardless of context, and geography, there are some important differences in certain countries. I don’t think you change how you think about being a leader, but you have to factor these differences in. Vik Malhotra

The biggest difference that struck me was, if you go to India or you go to many parts of Latin America, family-owned businesses are at the big level. This is very much written [in the book] from a corporate lens. I have personally had to think through, if I’m talking to you and you’re the CEO of a family-owned business, how I could slightly adjust the narrative around how you can be bold in that context.

What does it take to be bold in that context? How do you shape culture? How do you actually understand that the stakeholders there may not have the same motivation about shareholder return? They may be more worried about dividend flow to the family. So you have to adjust to that. As we went global, being able to adjust the narrative was an interesting learning. The other difference in the US and globally is seen in the way in which start-ups and founder-owned businesses are run.

Carolyn Dewar: I live in the Bay Area. I get this question all the time.

Vik Malhotra: And there’s a version of this for founder-led companies because they have different dynamics that you need to factor in. I don’t think we change the narrative too broadly. But you’ve got to factor in what they’re worried about.

Carolyn Dewar: Yes, and there is potentially a private CEO or portfolio company CEO.

Vik Malhotra: Yes.

Scott Keller: Yes, and I would add government organizations.

Raju Narisetti: That’s right.

Scott Keller: Not-for-profits have their own flavors, as well.

Carolyn Dewar: Yes.

Scott Keller: It all applies, but there’s definitely tailoring in terms of ownership structure and leadership history for founder-led organizations.

Based on the time you spent with CEOs, what’s been different in the last two, three years?

Vik Malhotra: In the grander context of things, there are a few things that are different. Decision making is a whole lot faster than it’s ever been. There is a need for you as a leader, a CEO and a leader, to make decisions, often with imperfect data, in weeks, days, even hours. Relatively speaking, 20 years ago, you didn’t have that same—

Scott Keller:  That speed.

Vik Malhotra: You didn’t have that same pace of decision making. The speed of decision making is very different. The push on important trends that we’re facing didn’t exist—sustainability, DE&I [diversity, equity, and inclusion]. Those are new things that people have to factor in.

The one element that actually feels a little different and maybe less timeless is the engagement of the external stakeholders. I think if you go back 20 years ago, maybe that was 10 percent of their responsibility.

Today, it’s not unusual for it to be 30, 40, 50 percent of some CEOs’ responsibilities, particularly when you factor in the customers, regulators, analysts, trade unions—the world at large. So there are some real changes in today’s world relative to history.

I still think the timeless messages all apply. But as a leader, you likely do have to move more quickly. You have to be cognizant of the many more stakeholders than perhaps there have been historically. And you certainly have to be cognizant of some very important long-term trends that are, in the grander scheme of things, relatively new.

Scott Keller: I’ll pick up on one of the strands there, Vik. When we wrote the book, it was in the peak of the pandemic and everything going on there, the George Floyd murder, the Capitol riots, and there was kind of a strong push saying, “CEOs need to get out there, and talk about all these issues, and be really frontward facing.”

I feel pretty good about when we talked about what we put in the book and said, “Look, there is a time to speak out, absolutely—if it affects your business and your business values, if it’s a place you can make a difference, if you can actually understand where your stakeholders stand and make an informed decision.”

There is a time to speak out, absolutely—if it affects your business and your business values, if it’s a place you can make a difference, if you can actually understand where your stakeholders stand and make an informed decision. Scott Keller

We tried to get a real middle-of-the-line, “You are going to have to speak out. This is going to be important, but you shouldn’t be out there opining on everything under the sun. It’s probably not your role, nor are you well informed enough or able to necessarily do that in the right sort of ways.” I feel good that we got that—right. But it’s been fascinating to see the swings—to witness those varying conversations. The second thing I’d say is, in a world that has gone from a blog-length thing that was considered short to a short Twitter headline and now a TikTok post, there’s now a higher premium on the ability to cut through with elegant simplicity.

Now CEOs have a company direction that they need to convey to 50,000 people around the world. How can they do that in six words or less in a way that’s emotive and powerful and gives all the information someone needs?

For example, having that conversation not just around the vision of the company but answering the question, “What’s the employee value proposition? What’s the proposition for customers, what we’re delivering for shareholders?” It was psychologist George Shultz who said that understanding goes from being simple to complex to elegantly simple.

On the far side of complexity is elegant simplicity. It becomes such a big tool for CEOs now to get cut through at scale. I love Piyush Gupta, what he did with DBS [Group], which is a Singapore-based bank that was the worst bank in Singapore when he took over, objectively speaking. And now, in most polls and measures, it’s the best bank in the world.

“We are a technology company that makes banking joyful.” That’s what you need to know about DBS. Six words: technology company that makes banking joyful. “Technology company” tells you a ton about where they’re investing assets, about how they think about product development, about running the place generally, the speed of decision making, and more.

“Making banking joyful” tells you a ton about what their customer experience is meant to be like and all of the investment they’ll put into it, what they expect of their colleagues and employees. There’s just so much richness in those six words that CEOs are able to get to the elegantly simple messaging around the things that matter. It might even be the bold moves.

“Here’s the five bold moves we’re making that are going to make the biggest difference.” They’re all crisp. There’s a real premium on that, and there will continue to be a premium on having more acuteness as we move forward—because the way that media and people digest information has changed. That’s my take on something that I feel has changed.

Carolyn Dewar is a senior partner in McKinsey’s Bay Area office, Scott Keller is a senior partner in the Southern California office, and Vik Malhotra is a senior partner in the New York office. Raju Narisetti is the leader of McKinsey Global Publishing and is based in McKinsey’s New York office.

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Microsoft 365 Life Hacks > Writing > What is independent publishing?

What is independent publishing?

You are a budding author on the brink of finalizing your manuscript. Once you have completed it, the next step is to shop your work around to literary agents and publishing houses. However, this process can be grueling, competitive, and may end in several rejections. Alternatively, if you aren’t inclined toward the traditional publishing route, you have another option—independent publishing. Learn what independent publishing is, how it differs from traditional publishing, and its benefits for you as an author.

How to publish a book independently

To independently publish your book , you have several options. You can partner with an independent publishing company or a small press, or you can create your own publishing company or small press. Independent publishers establish relationships with the necessary parties required to publish your book, such as editors, printers, distributors, and designers. They guide you through each stage of the process while still allowing you to retain the rights to your book. Working with a smaller publication typically results in a quicker timeline, expediting the publication and distribution of your book.

How does independent publishing differ from traditional publishing and self-publishing?

Given the exclusivity and rigor of traditional publishing, independent publishing may be a viable path to get your book published. Before deciding to pursue independent publishing, it’s important to understand the differences between your available options. The other publishing options include:

Traditional publishing

Traditional publishing involves submitting your book to a literary agent affiliated with one of the major publishing houses. Some of these renowned publishing houses include Penguin Random House, Simon & Schuster, HarperCollins, Hachette Group, and MacMillan Publishers. This is the most competitive route for publishing, as these publishing houses receive countless proposals every year. However, it’s typically the most financially rewarding option. Traditional publishing houses offer advances, royalties for your work, and, most importantly, the opportunity to reach a larger audience.

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Self-publishing

If you choose to self-publish a book, you take on the roles of author, distributor, publisher, and marketer all by yourself. However, you lose the distribution network, financial backing, and additional assistance that traditional publishing offers. This is a suitable option if your goal is to make your work available, but it doesn’t provide significant support.

What is the benefit of publishing independently?

Independent publishing strikes a balance between self-publishing and traditional publishing. You can bypass the competitive hurdles of traditional publishers without sacrificing support during the publishing process. Independent publishers understand the publishing world and provide a team of professionals to assist with your work. You can collaborate with editors, designers, and other experts while retaining creative control over your writing. It enables you to enter the publishing arena, get your book on shelves, and do so on your own terms.

Independent publishing is a worthwhile publishing route, whether you’re a nascent or seasoned author. You receive the support of professionals, facilitating the journey of getting your book into your audience’s hands without giving up creative control. For more help with publishing and editing your writing, learn more writing tips .

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Life Magazine Will Come Back to, Well, Life

The investor Josh Kushner and his wife, Karlie Kloss, have struck a deal with Barry Diller’s media company to revive it as a regular print title.

By Andrew Ross Sorkin ,  Ravi Mattu ,  Bernhard Warner ,  Sarah Kessler ,  Michael J. de la Merced ,  Lauren Hirsch and Ephrat Livni

Kushner and Kloss take over Life magazine

Life, the iconic photography-focused chronicler of the 20th century, has taken on many forms, including a weekly magazine, a website and the occasional special issue.

Now, it is set to resume regular print publication, thanks to a deal between Barry Diller’s IAC and Josh Kushner, the venture capitalist whose Thrive Capital is one of the biggest investors in OpenAI, and his wife, the entrepreneur and model Karlie Kloss.

Kushner and Kloss are buying the publication rights to Life from Dotdash Meredith, the print and digital publisher. The deal is being done through Bedford Media, the media start-up that Kloss leads as C.E.O. (The price wasn’t disclosed.)

Life was once a central part of American culture, featuring the work of renowned photographers like Robert Capa and writing by top authors. (Ernest Hemingway’s “The Old Man and the Sea” first appeared in its pages.)

But its popularity plunged after the 1970s, with the magazine largely being reduced to light reading and celebrity news. In 2008, it became an online archive with occasional newsstand editions.

The backstory: Kushner approached Diller about resurrecting Life about eight months ago, DealBook hears. His pitch was that the magazine could be resurrected in print and online — as well as in newer iterations like events and collaborations with brands and major studios.

“Life’s legacy lies in its ability to blend culture, current events and everyday life — highlighting the triumphs, challenges and unique perspectives that define us,” Kushner said in a statement.

Dotdash Meredith will remain involved: It owns the rights to Life’s vast photo and content archive, and will continue to publish special single-topic print editions.

It’s the latest high-profile effort to resurrect a legacy publication during a tough time for the media industry. Old-school publishers like Condé Nast and newer ones like Vox and Vice have struggled amid a downturn in advertising.

But Kushner, who will serve as Life’s publisher, and Kloss are betting that they have a more focused approach that will succeed. “We see Life as an uplifting and unifying voice in a chaotic media landscape,” Kloss said.

The two have already purchased other famous titles. When Bedford was formed last year, it bought the style magazine i-D from Vice. And in 2020, Kloss organized an investor consortium to buy the high-end fashion magazine W .

What’s next: Bedford will begin hiring senior editorial staff for Life, which is tentatively set to resume regular publishing early next year.

HERE’S WHAT’S HAPPENING

Disney ends its legal fight with Ron DeSantis over its Florida special tax district. The entertainment giant and the state’s governor agreed to cooperate on new growth plans for the 25,000-acre area that encompasses Walt Disney World. It was a surprising end to a bitter fight that saw DeSantis and his allies take over the district and Disney fight back with quiet efforts to lock in its own development plans.

Amazon invests $2.75 billion more into Anthropic. The funding brings the tech giant’s total stake in Anthropic, a buzzy artificial intelligence start-up, to $4 billion . It’s the latest sign of tech giants’ eagerness to pour money into promising A.I. technology. Meanwhile, Salesforce reportedly paid more than $20 million to license Albert Einstein’s image to promote its A.I. efforts.

Deal making roars back in the first quarter. About $690.2 billion worth of mergers were announced in the first three months, up 30 percent from the same time last year, according to LSEG. But that growth was driven largely by mega transactions like Capital One’s $35 billion bid for Discover Financial Services: The number of announced deals was down 31 percent year on year.

How much time will Bankman-Fried serve?

Sam Bankman-Fried is set to be sentenced today, with prosecutors requesting that the FTX founder spend decades in prison and defense lawyers arguing for just a few years.

The 32-year-old’s fate will hinge on how Judge Lewis Kaplan of the Southern District of New York weighs how much damage he caused to investors and customers, and how many of them will get their money back.

Prosecutors want Bankman-Fried to serve up to 50 years. The onetime poster child of the crypto industry was found guilty in November of seven counts of fraud and conspiracy after being charged with stealing billions of dollars to fund a lavish lifestyle and his own investments.

In a court filing this month, prosecutors called the fraud “historic,” pointing to the magnitude of losses and the tens of thousands of potential victims, including unsophisticated retail investors.

Bankman-Fried’s lawyers are calling for leniency. They have asked for a sentence of no more than six and a half years and accused the government of pursuing a “medieval” punishment of an “exceptionally brilliant” young man with much to offer society.

They have also pointed to claims by FTX’s lawyers that customers would eventually be repaid. The net harm to customers, lenders and investors, they said, is “zero.”

FTX’s current leader blasted those claims. John Ray told Judge Kaplan this month that recovering the money wasn’t guaranteed and would take work by his team. It was “categorically, callously, and demonstrably false” to say that no harm was caused, he added.

Victim restitution won’t guarantee a lighter sentence . “It’s a crime to defraud people,” Renato Mariotti, a former federal prosecutor, told DealBook. “And the sheer scale of the fraud here was large.” He expects a sentence of 20 to 30 years.

Mark Kornfeld of the law firm Buchanan Ingersoll & Rooney agreed that Bankman-Fried’s role in victims regaining their money may not matter much. “He’s not the one making them whole,” he told The Financial Times .

A cheat sheet for tomorrow’s inflation report

As the S&P 500 heads into the last trading day of the quarter, the index is closing in on a fifth straight monthly gain. Driving that are hopes that the Fed will start cutting interest rates as early as June.

But new inflation data could still derail that momentum. The Commerce Department is scheduled to release the Personal Consumption Expenditures index, which is closely watched in Washington, tomorrow at 8:30 a.m. Eastern.

Economists expect another hot number . The question is, how hot ? Especially strong data could prod the Fed to delay lowering borrowing costs, and affect the number of cuts this year.

Here’s what to watch for:

Headline P.C.E. for February is expected to show a 2.5 percent year-on-year gain, a slight increase from the January report.

Core P.C.E., which excludes volatile food and fuel prices, is forecast to come in at 2.8 percent on an annualized basis, roughly in line with the previous month.

Analysts will watch for signs that services inflation — spending on things like airfare, health care and rent — has begun to ease. Consumer spending in these areas has remained high in recent months.

Fed hawks are weighing in ahead of the report. Christopher Waller , a Fed governor, said in a speech yesterday that the central bank should hold off on cutting rates until he sees “at least a couple months of better inflation data.” (The title of his talk: “There’s Still No Rush.”)

Investors sold off Treasury notes after Waller’s comments. But the futures market this morning is still penciling in three rate cuts this year, more or less in line with the Fed’s most recent forecast .

“If the leadership doesn’t execute a beautiful deleveraging, China will have a Japanese-style lost decade with Marxist characteristics.”

— Ray Dalio , the founder of Bridgewater Associates. In a lengthy post on LinkedIn, the hedge fund billionaire agreed with President Xi Jinping of China about an imminent century of extraordinary change and offered suggestions to help Beijing deal with its economic problems.

The A.I. lobby wants to talk about China

As policymakers try to figure out how to regulate the fast-growing artificial intelligence industry, Silicon Valley has ramped up its lobbying efforts to shape the debate.

Its latest tactic? Tapping into growing worries about China.

The Biden administration is doubling down on China’s tech threat. That’s evident by recent moves, such as signaling its support for legislation that could see TikTok banned in the U.S.

China is producing more top researchers , though the U.S. has a big lead on investments and breakthroughs.

Silicon Valley is trying to capitalize on the mood. On May 1, tech leaders — including Palantir’s Alex Karp, Sequoia Capital’s Roelof Botha and Vinod Khosla of Khosla Ventures — are expected to attend a conference in Washington with dozens of lawmakers, like Speaker Mike Johnson, Republican of Louisiana.

Jacob Helberg, an adviser to Palantir and a member of a congressional commission on China’s threats to national security, is organizing the event.

For tech companies, Washington’s focus on China could be good for business. “The other side of slowing down China is minimal friction and regulation for U.S. companies,” Amba Kak, a former senior adviser on A.I. to the F.T.C., told The Times.

The event comes as the industry is ramping up its lobbying efforts. More than 350 organizations reported lobbying the federal government on A.I. issues during the first nine months of 2023, spending a total of $569 million on the effort, according to OpenSecrets .

But a Facebook co-founder is reportedly making a different case. Dustin Moskovitz , a major Democratic donor, met with President Biden last month to share his own arguments about A.I. safety, according to Puck.

Moskovitz and others have warned that “mitigating the risk of extinction from A.I. should be a global priority.” His nonprofit group, Open Philanthropy, has advocated regulations like software export controls and licensing requirements for certain A.I. models.

THE SPEED READ

The British hedge fund mogul Chris Hohn led Institutional Investor’s latest Rich List with a $2.9 billion haul last year, followed by Millennium’s Izzy Englander and Citadel’s Ken Griffin. (II)

Liberty Media, the owner of Formula One, is reportedly in talks to buy the parent company of MotoGP , the motorcycle racing competition, for more than 4 billion euros (about $4.3 billion). (FT)

Josh Harris and David Blitzer, whose company owns the Philadelphia 76ers, have formed Unrivaled Sports to invest in youth-focused sports, with backing from the Chernin Group. (Unrivaled Sports)

A member of Qatar’s royal family invested roughly $50 million in Newsmax during the Trump administration. Staff at the conservative news publication were reportedly told to soften coverage of the country before and after the deal. (WaPo)

Joe Lieberman , the longtime Democratic senator and vice-presidential nominee who most recently helped lead the independent political group No Labels, died yesterday. He was 82. (NYT)

Best of the rest

The credit rating agency S&P downgraded Paramount Global’s debt to junk, citing declines in its business. (Bloomberg)

A new study by Boston Consulting Group and the nonprofit group Moms First found that child care benefits for employees essentially pay for themselves. (Axios)

“Has the Luxury E-Commerce Bubble Burst ?” (NYT)

Daniel Kahneman , whose pioneering work on behavioral economics earned him a Nobel, died yesterday. He was 90. (NYT)

We’d like your feedback! Please email thoughts and suggestions to [email protected] .

Andrew Ross Sorkin is a columnist and the founder and editor at large of DealBook. He is a co-anchor of CNBC’s "Squawk Box" and the author of “Too Big to Fail.” He is also a co-creator of the Showtime drama series "Billions." More about Andrew Ross Sorkin

Ravi Mattu is the managing editor of DealBook, based in London. He joined The New York Times in 2022 from the Financial Times, where he held a number of senior roles in Hong Kong and London. More about Ravi Mattu

Bernhard Warner is a senior editor for DealBook, a newsletter from The Times, covering business trends, the economy and the markets. More about Bernhard Warner

Sarah Kessler is an editor for the DealBook newsletter and writes features on business and how workplaces are changing. More about Sarah Kessler

Michael de la Merced joined The Times as a reporter in 2006, covering Wall Street and finance. Among his main coverage areas are mergers and acquisitions, bankruptcies and the private equity industry. More about Michael J. de la Merced

Lauren Hirsch joined The Times from CNBC in 2020, covering deals and the biggest stories on Wall Street. More about Lauren Hirsch

Ephrat Livni reports from Washington on the intersection of business and policy for DealBook. Previously, she was a senior reporter at Quartz, covering law and politics, and has practiced law in the public and private sectors.   More about Ephrat Livni

Sports Business

Sports Illustrated lands new publisher as Minute Media obtains rights with plans to continue printing

Sports Illustrated will continue to produce print issues and digital content through a new partnership with publisher Minute Media, a digital media company that is also behind The Players’ Tribune and Fansided.

Minute Media will take on the role previously held by The Arena Group, which acquired the publishing license in 2019 but saw it terminated in January after missing a quarterly payment of about $3.75 million “despite being given a notice of breach and an opportunity to cure the breach,’ per a statement from ABG. Minute Media will have the license for Sports Illustrated for 10 years with the option to extend it to 30, The New York Times reported.

Advertisement

The news comes after The Arena Group, the former publisher of Sports Illustrated, told employees that it planned to lay off numerous people in January after Authentic Brands Group (ABG), the licensing group that owns SI, revoked The Arena Group’s license to publish Sports Illustrated.

Asaf Peled, the chief executive of Minute Media, told The New York Times that the plan is to expand and re-hire some of the former Sports Illustrated employees whom Arena laid off, but that the number of re-hires would not be known until Minute Media started operating the business this week. The Sports Illustrated Union shared a statement to X saying the members “welcome the change and look forward to remaining part of the storied brand’s future.”

“We have said from the start that our top priorities are to keep Sports Illustrated alive, uphold the legacy of the institution and protect our union jobs. We look forward to discussing a future with Minute Media that does that,” union vice president and Sports Illustrated staff writer Emma Baccellieri said.

We look forward to discussing the future of SI with our new operators at Minute Media pic.twitter.com/JZ4SxXuhcU — Sports Illustrated Union (@si_union) March 18, 2024

Sports Illustrated published its first issue on Aug. 16, 1954, and for decades was a massive part of the weekly reading experience of North American sports fans, with a circulation that ballooned to more than three million subscribers.

What’s next?

The devil is always in the details but Authentic Brands Group striking a long-term deal to license Sports Illustrated’s publishing rights to Minute Media feels like welcome news for those who love and care about the editorial aspects of SI. Minute Media management says they will continue the magazine’s print edition and expand the reach of SI globally. One thing to watch is how many Sports Illustrated employees will continue on under Minute Media and whether any of those recently laid off will return. In an endless wave of negative news for the media industry, today’s announcement is one of promise. — Richard Deitsch, media reporter

Required reading

• Sports Illustrated’s fall is a tragedy for staff, readers and an industry in peril

(Photo: Cindy Ord / Getty Images)

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