Numbers Are Part Of Business

I was talking about
read through on a series
on one of the writing loops.

The best selling writers
on the loop
all knew their read through rates.

Many of the other writers
talked about
not being good at math
and finding it too difficult
to calculate.

Too f*cking bad.
If you want your romance writing business
to be a success long term,
you have to know that number.

You don’t have to calculate it
if you’re bad at math.
But you DO have to
know your read through rate
and know what it means.

Numbers are a part of business.

You don’t have to calculate return on investment
or break-even sales
or sell-through rates
or other numbers.

But you do have to know
what they mean
if you want to be financially successful.

Get comfortable
with numbers.

Does Your Model Still Work?

Weather prediction models
are based on a stable jet stream.

The jet stream
is no longer stable.

And the weather prediction models
no longer work
for any predictions longer
than a day out.

I suspect
we are all basing decisions
on models
that no longer work
in today’s world.

I know I am.

In the past,
as one example,
if readers downloaded
one of my free books,
11% of them
would read the entire series.

I built my rate of return on promotions model
around that read-through
(sell-through)
number.

But that read-through number
is no longer applicable.
Very few readers
now read the entire series.

When I modified
my rate of return on promotions models
and applied the new
read-through number
(plus some other factors),
none of the promotions
I was considering
made a return.

Do your models
still work?