A Hobby Vs A Business

When I tell people
I’m closing the Romance Novel Business
in two years,
they look at me stunned
and usually say something like
“You won’t be writing anymore?”

Oh. I’ll be writing.
Writing is pure joy for me.

I simply won’t be publishing
that writing.

I won’t be worrying about typoes
or rounds of edits
or covers
or marketing
or any of that stuff.

I won’t be spending
all that extra time
on each story
and I won’t be incurring
all that expense.

(For reference,
it costs me about
$1,000 US
to publish a story
and MUCH more than that
to promote it.)

I will be writing
for me alone.

The writing will be a hobby.
It will no longer be
a business.

There’s a HUGE difference
between these two statuses.

Remember that
when you’re thinking about
creating a business
based on one of your hobbies.

Knowing When To Close A Business

I plan to close
my romance novel writing business
when
the pre-order sales
for my stories
no longer cover their production expenses.

Based on the current
downward sales trajectory,
that will happen
in roughly three years.

I’m planning for that closure.

I’m writing the books
readers have requested.
I’m wrapping up series.
I’m setting up income streams
so they continue
without much involvement
from me.

If something unexpected happens
and my sales recover,
of course,
I’ll continue the business.

But, as of today,
I am planning to close it

Knowing I’m ending this stage
of my life
is sad
but it is also powerful.
I’m in control
of my business’ closure,
of the process.
It will be a good end
to a great business life cycle.

Decide now
when you’ll close/sell your business.

Build toward that closure.
And embrace
the fresh new start
that will follow it.