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Budgeting Your Book

2014-0925-130405785Most people don’t get paid to write books. Most people who are writing books haven’t received an advance for them. Writing a book involves a serious commitment in time in the hope of creating something that will expand your business, spread your message and make you a go-to expert. You will have to pay to make sure your book is as good as it can be.

If you’re an entrepreneur or thought leader who’s writing a book, and who may also be self-publishing this book, you should create a budget for your work – time and expense.

First, for your time.

  • Make a deadline for yourself. Even if you are just starting out and don’t know where the book will take you, in terms of your business, you’ll be that much more efficient if you give yourself a deadline for finishing your first draft. Working toward a deadline helps you manage your time – and you’re mentally attuned to that date, even if it’s you who created it.
  • Set a daily schedule. Stick to it. You won’t be as efficient if you simply get to your book when you can. Build time into your schedule. If you’re a morning person, try to get up earlier. Do your writing before you leave for work, or for the gym, or before you head to your office. If you’re an evening person, do it before you go to bed or before you dine, or before you relax before turning in. Whatever works for you, but make sure you set time aside to work.
  • Give yourself milestones. You may have a deadline date, but give yourself a date to organize and read over what you’ve done – every month, perhaps. This gives you something within sight to work toward, and helps your sense of accomplishment.

Financial budget.

  • Hire an editor to go over your book. Even if you’ve got a good chance of scoring a contract with a traditional publisher, or if you’re working with an agent who offers great editorial suggestions, working with an editor can help you tremendously as you put your book together. That perspective of someone else other than you can give you insights that will improve your book. An editor can cost from $500 to $1,500 or more, and may work on an hourly or project basis.
  • Hire a copyeditor. This is different from the editor, who looks at the overall shape of the book, your arguments and your approach. A copyeditor will look for inconsistencies, try to correct for grammar, spelling and sentences that don’t hang together. This is invaluable in making you come off as smart as you should.  Copyeditors work hourly or by project. Costs can be a few hundred dollars. Well worth the outlay.

These expenses can add up to a few thousands dollars, but they’re well worth it in ensuring that your book at every stage represents you professionally. This will pay off in shaping your image and building your business.

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