Hey there, fellow word witches! I'm guessing if you're reading this, you're either already part of the magnificent world of writing, or you're contemplating stepping into it. Now, when we picture an author, we often imagine a solitary figure hunched over a typewriter, lost in a world of their own creation. But times are changing, and today's successful authors are not just creators, but entrepreneurs in their own right.

So, what does it mean to have an entrepreneurial mindset?

Think innovation, risk-taking, adaptability—traits that are as crucial for an author as they are for a startup founder. That's right, my friends, being an author in the 21st century is not unlike launching a startup. In fact, it can take many more years for you to become a successful author than it can for a startup to realize a profit. You're bringing a unique product (your book) into the market and you need to be prepared to take on everything that comes with it.

Why this sudden need for authors to morph into businesspeople?

First of all, it’s my opinion that authors have always had to act like business people. They’ve had to believe in their books to find the determination to keep sharing them with agents and publishers and they’ve had to keep writing in the face of rejection. This is not unlike an entrepreneur who wholeheartedly believes in their business enough to find customers and keep going even when their business isn’t making a profit which is fairly common in the early years of any business.

The surge in self-publishing and digital platforms has democratized the world of publishing. Today, authors can take control of their work like never before—from deciding the cover design to devising marketing strategies. We've seen so many success stories emerge from this shift, including self-published sensations like E.L. James and Hugh Howey, but also traditionally published authors who've skillfully navigated the industry, like Stephen King and J.K. Rowling.

How can you cultivate an entrepreneurial mindset and apply it to your writing?

Do Your Research: Understand the publishing industry and the market trends. Immerse yourself in the business of books. It's mind-boggling and so fascinating!

Connect and Collaborate: Network with fellow authors, join writing groups, attend literary events. The writing journey doesn't have to be a lonely one, but if you prefer to be a lone wolf, you can still find success.

Dare to Experiment: Don't be afraid to try genres that interest you (even if that’s not what you normally write), explore self-publishing, or come up with a wild marketing strategy. Many great success stories had a pinch of risk in their recipes.

Rise, Rise, Rise: Rejection letters and poor reviews? They're part and parcel of the author's journey. Resilience is your superpower. Learn from your failures and use them as stepping stones.

Now, how can you apply this mindset to your writing career?

Treat Your Writing Like a Business: It might feel a bit strange at first, but trust me, seeing your writing as a business can really help. Make a business plan. Set clear goals. Identify your target audience. Draft a marketing strategy.

Build Your Brand: Develop a strong, authentic author brand. Use social media to connect with your readers, start a blog or a newsletter. Make your readers feel like they're part of your journey.

Monetize Your Skills: There are more ways to earn from writing than advances or royalties from book sales. Consider leading writing workshops, conducting speaking engagements, or even selling merchandise related to your books.

As we wind up, I want you to remember that adopting an entrepreneurial mindset doesn't mean you're selling out. It means you're ensuring your creative work gets the recognition it deserves. You're making sure that your stories reach the people they were written for. Isn't that why we write in the first place?

Many creatives have successfully adopted an entrepreneurial mindset to take their passions to higher levels. You can too!

So, fellow authors, are you ready to embrace this entrepreneurial journey? Let's brave this exciting path together. And hey, why not share your own experiences and tips about integrating business and writing in the comments below? Let's learn from each other and grow together.

It’s not about competing with each other for readers but rather lifting each other up to bring readers more great books. Here's to our shared success!