Author Caution: Be careful putting all your eggs in one Basket

 
After experiencing multiple problems with Facebook the other day, amazon admitting to accidentally sharing people’s personal information, and reading Derek Murphy’s email about hacks, author websites and updating passwords, I think it’s time to publish a post that has been sitting in my drafts (and in my heart) for some time. It has also been a while since I’ve dedicated significant time to this blog and as we come upon the end of the year; I think it’s a good way to get us thinking about potential changes in 2019.
 
Be careful putting all your eggs in one basket.
 
 
When the stock market crashed in 1929, it shocked people. They couldn’t believe they couldn’t get their money out of the banks. It was like in the movies when there’s a natural disaster or alien invasion. Right before it all comes crashing down, life is perfect. A family is sitting at the table eating breakfast. Soccer moms are dropping their children off to school and dads are hoping for that corporate promotion. And then it happens, right there. You are at the breakfast table eating a bowl of cereal and your kitchen floor splits in half with your toddler on the other side of that half.
 

This is how quickly things change.

Life before the crash was great. People were doing well. People bought stocks with easy credit. During the 1920s there was a rapid growth in bank credit and easily acquired loans. People encouraged by the market’s stability were unafraid of debt. People were comfortable. So comfortable that they weren’t prepared when it all came crashing down. Not everyone was as affected though. The great depression didn’t affect poor people as much as those who had wealth because poor people were used to having nothing. Many of them were also already growing their own food, and already self-sufficient. They had to be innovative and entrepreneurial to survive.

There is a bitter and yet wry statement which was made by blacks about the depression. They said in the south that the depression had been going on for ten years before black people even know about (laughs)… knew it existed.”  – Maya Angelou
 
 

Social Media has made it possible to make millions with online-only businesses. No longer do you need a college degree or fancy training to start a business online. Social media and e-courses changed that. Writers can now publish their own books without a traditional publisher. Independent Publishing has been around for a long time, but Print on Demand took it to another level. Print on Demand services are platforms where authors can upload manuscripts easily and quickly online and order print copies of their books. Platforms such as Lulu, Kindle Direct Publishing and Bookbaby are examples. Not only is it easier than ever to publish books, but it‘s easier to make millions from social media alone. Professional Instagrammer or YouTuber are legit business titles now. College kids are dropping out to become YouTube stars and Insta-celebrities. Because of advanced technology you don’t need to understand code to build a website yourself or need a fancy camera to shoot a movie anymore. With a basic understanding of video editing you can do this with your iPhone.

Life is good.

But remember how quickly things change.

Social Media is changing. People are more outspoken about privacy and data use. Facebook is being more strict about limitations so it’s difficult to do any promotion without buying ads (and although we do it anyway, we’re not supposed to use our personal pages as business pages). Algorithms don’t show everyone‘s post and Facebook is losing readers because of problems like the one I faced the other day (where I couldn’t log in). Facebook is constantly down and Google+ and Createspace have already closed down. Although Social Media looks good now, I wouldn’t be surprised if it, like the stock market, drastically changed so that users have to either pay for accounts or it unexpectedly closed down completely. Poof. Gone. Tragedies often happen suddenly.

gold

“By the mid-1800s, most countries wanted to standardize transactions in the booming world trade market. They adopted the gold standard. It guaranteed that the government would redeem any amount of paper money for its value in gold. That meant transactions no longer had to be done with heavy gold bullion or coins. It also increased the trust needed for successful global trade. Paper currency now had guaranteed value tied to something real.” (Amadeo, K. 2018, 17 April. History of the Gold Standard.)

The history of paper money is worth the research and is too extensive to go in depth here but in short, the dollar began its decline on being backed by gold when the Gold Standard was suspended and even more after the Stock Market Crash of 1929. Paper money was only receipts that represented a certain amount of gold. When the Gold Standard was suspended more receipts were printed, printing receipts caused hyperinflation and money hasn’t been the same sense.

What does this mean / have to do with authors?

Putting your eggs in one basket is a phrase which means that one should not concentrate all efforts and resources in one area as one could lose everything. For Authors, putting your eggs in one basket could mean many things.
 

❌Using Social Media to build your business without a website

Investing in a business website is one of the most basic ways of running a successful business. Instead of just create a Facebook page or IG account, consider creating a website. It’s not expensive and can even be a one page website but it’s good to have. You can also use your blog as your website as we discussed before (because it doesn’t make much sense to spend money on a full website if you have one or no books out). Using social media without a website is putting your eggs in one basket because social media is not stable. Likes does not mean sales unless you have somewhere to direct people to purchase your books. Social media is not the final destination or at least it shouldn’t be. Social media is a doorway that must lead to a place. Your website is that place.

❌Only marketing and promoting your books online

“Social media is an important part of your business but it shouldn’t be the ONLY part of your business.” (The Six Figure Chick) The Six Figure Chick IG account is one of much value and she’s right. By only focusing on promoting and marketing and selling books online you are leaving money on the table. Although people talk about the death of print, radio and traditional media is still a big deal. There are still many people who aren’t tech savvy, still many people who prefer to visit libraries and bookstores, still many who prefer print books, and still many who want to see you in person or hear you speak. If you are already outspoken, this is an extra good thing for you. You’ll have no problem networking at events and meeting new readers. If you’re an introvert (like me), events help you to come out of your shell and meet new readers who can follow you online. My social media pages don’t have many followers but my numbers go up after every event. While I don’t think requiring your presence to make you money is wise (because I mean, the technology is here), scheduling at least one public appearance (such as a book signing) every now and again is a good way to meet your readers face to face.

❌Only publishing books. (Neglecting other ways of making long-term sustainable income as an author)

I recently attended the inaugural We Buy Black Convention in Atlanta where hundreds of black-owned businesses convened to support one another. There, I met Real Estate Super Agent Lisa Puerto, one of the featured speakers during one of the business talks (Jay Morrison was another speaker and Dr. Boyce Watkins was another speaker but I missed them). Long story short, my husband and I loved her passion so much that although we aren’t into real estate, we were ready to buy her book when she finished and got to chat with her after the segment.

Here’s the thing that surprised me though: her table was basic. Black table cloth, books and business cards. It looked similar to my table at the signing at Nubian books earlier this year! (see pic) There weren’t any fancy fixings but her line stretched down the hall and her business cards were getting picked up like candy. She had wowed us with her passion alone and her voice was big enough to outdo any banner. I say all of this to say I’ve learned that public speaking is how we as authors get the message out about our books. Instead of promoting the book, we could promote the message of the book and help people to understand why it’s worth their time to read our stories. It’s why celebrity authors go on book tours where they get to speak to the audience and despite how we feel about her, Omarosa sold the mess out her book just by talking about it!

The book is important, but it is not the only way of making money as an author. Once you’ve established yourself as an author and have started making waves with your books (please do this first), you can expand into other things such as teaching, coaching, and public speaking, as additional income sources. Only writing books is another form of putting your eggs in one basket because you’re limited to just one income stream. If you write full-time (no day job, no side hustle, e.g.) this is especially important. In striving to make a living from writing alone (once you’ve been established for awhile), it’s a good idea to expand your brand beyond just writing books.

❌Not building an email list

Email lists aren’t for everyone but in the event there is no more social media (blogs included), the email list becomes of great value alongside your website. It becomes another way for you to connect to your audience on a personal level. While I don’t have many subscribers I can say with the integrity I have more subscribes than unsubscribes and I am learning more and more how to better manage my team. Every business has an email marketing to accompany their business. I don’t know why writing has to be any different. Do you want to know why people don’t take Indie writers seriously? Because we assume the basic rules of running a business doesn’t apply to us. Yes, you can opt not to do certain things as there are no rules, technically. However, there are basics and you can‘t opt out until you fully understand the basics. A website, email list, social media, and a payment method are among the foundational basis of an online business. Your website is your home, your email list is your connection, your social media pages (includes blog) is your traffic and interaction, and your payment method/shopping cart is how you get paid. These are the basics. 
 
One of the many criticisms of the email list is that people don’t like to be emailed often. I have found this to be only a half-truth. Yes, people don’t like being emailed often but that is dependent on the kind of emails they are getting. I sit back and watch people send emails almost daily and I am not talking about struggling writers. I am talking about authors and business people with millions of dollars, people who have proven their value who send emails out very frequently. Dr. Boyce Watkins himself sends emails out it seems like every day and I open every last one. It’s not about how many emails you send, it’s about the quality of the emails you send. Spam is junk mail. Don’t send your readers junk. Your readers want to hear from you, they just don’t want to be spammed with useless information that means nothing to them and offers nothing.
 

❌Publishing on Amazon exclusively while neglecting other retailers

I think relying too heavily on Amazon is a mistake. I think a smart person would definitely have their books on Amazon but that they will also explore other retailers. It‘s about balance. Say what you want about them but having books on Amazon is just good business sense (you have to look at it the way readers do…they will search for your book on Amazon first before anything), but that doesn’t mean we have to only have books on amazon. One of the most valuable ways to sell your books is through your own author website! The reason Amazon is winning is that mostly we are promoting it. Our books may be present on other sites but if we aren’t promoting those links alongside Amazon, we cannot expect to see sales through those channels. How many times do you promote links to your book on Kobo? Barnes and Noble? Smashwords? Your own author website? If you’re honest with yourself your answer would be like mine, very little. If something were to happen to Amazon, do you know of any alternative ways of publishing? Have you educated yourself or are you only sticking with the zon? Publishing only on Amazon is putting your eggs in one basket because if amazon suddenly crashed it will take your eggs with it.

❌Wasting time arguing about whether Self-Publishing or Traditional Publishing is better.

These debates are a waste of time (this is coming from the person who doesn’t think anything is a waste of time) and forces authors into putting their eggs in one basket. Publishing Independently works for me but I won’t sit here and say that I will never traditionally publish a book if it came time for it. There’s a time and place for everything and I am at a place where Independent Publishing works well for me. I cannot say this won’t change because I cannot predict the future. There’s nothing wrong if you suddenly decided to go the traditional route or if you decided to self-publish because the value doesn’t change. You are still worthy no matter how you choose to publish. By making this out to be some type of competition we lose sight of what really matters and create self-imposed limitations. This bullet point is different from the others and may seem out of place but that’s why I must mention it. It’s a low-key way of putting your eggs in one basket. Self-Publishing is one basket and Traditional Publishing is another basket. You are not limited to just using one. It’s okay to keep your options open.

This post will be too long if we covered every single area of how we leave money on the table by putting all our eggs into one basket but here are some additional areas:

Neglecting audiobooks

Not developing a business plan for your writing business / not legalizing your writing business

Not listing your books on Goodreads or creating an Amazon Author Central Page

❌Discounting your books / products so much that it undermines your business

Consider not relying on one way of doing things. People say that you don’t own social media but that is true for everything online. You don’t own that blog no more than you own that email list, no more than you own those social media pages.

I have to say, when Facebook tripped, as it often does, I was so happy that I at least have a website and email list to direct people to. If I had to rely on my Facebook page only, it would have caused me to panic as Facebook not working would mean losing all my contacts. Social media is an excellent tool as I can sit here and write to people all over the world from my computer. But traditional media still holds weight and that face-to-face “old stuff” still works as an option to connect you to your readers. People thought farming was old too until it was the poor black farmers whose homegrown food fed them during the depression.

The eleven sons of Jacob survived and flourished because their brother Joseph, who had become second in command to Pharaoh through his gift of properly interpreting the Pharaoh‘s dream, had created storehouses throughout Egypt where the people could come and buy food. When his brothers left Canaan for Egypt, they could find refuge. Could we learn from this? Could we be the Joseph’s of our day? Or will we wait until the famine wipes out all we have?

In the Atlanta area? Join me for a book signing / poetry recital celebration in honor of the one-year anniversary of I am Soul! The event also features other authors as part of a Co-Advertising Campaign and takes place at the Medubookstore at the Greenbriar Mall from 2-5:00p EST on December 22nd.

Advertisements

IMPORTANT: Possible Changes Coming to Createspace

CreateSpace DVD / CD production is shutting down and it is possible that Createspace is being faded out, moving from CreateSpace to Amazon Media on Demand.

“Bit by bit, Amazon has been shutting down different parts of Createspace. First they launch KDP Print, a competing/replacement POD service, then they shut down Createspace’s publishing services unit, and now they have shifted the DVD and CD production to another part of Amazon. As a result, there isn’t much left in Createspace besides the book POD service.” https://the-digital-reader.com/2018/07/25/createspace-dvd-cd-production-is-shutting-down-with-accounts-moving-to-amazon-media-on-demand/

This is important if you use Createspace for paperback copies of your book. It is possible CreateSpace POD is going next. I am still reading into it but it is advised that if you have paperback books published through Createspace that you move them over to KDP Print before CreateSpace is officially out and you have to rush to move. Below are some articles you may want to read (in addition to the article link above.)

(1) It Looks Like The End of the Line for Createspace

 

And here’s an article on how to move your titles:

 

(2) Moving From Createspace To Amazon KDP Paperback Publishing

KDP Print Just Got A Whole Lot More Attractive

Nicholas gives us the scoop on some hot new upgrades to KDP for Print.

Nicholas C. Rossis

CreateSpace-Amazon logos | From the blog of Nicholas C. Rossis, author of science fiction, the Pearseus epic fantasy series and children's booksI’m sure most of you have heard the news by now, but if you haven’t, Amazon has announced some major changes to its KDP Print program. Only two days after I was telling people in this blog’s comments that I wouldn’t even consider moving to KDP Print from CreateSpace until Amazon addressed its two most glaring issues, the company announced it had. On top of that, it addressed my major problem with CreateSpace, thus making it a whole lot more likely that I will soon be moving over.

Problem #1: No Physical Proofs (Solved)

The first problem with KDP Print concerned its means of proofing your manuscript. Well, you can now order printed proofs from KDP. Proofs allow you to review a physical copy of your draft paperback prior to publication.

Note, however, that the process is a bit more cumbersome than the one CreateSpace uses. Specifically, here’s how you…

View original post 884 more words

Unplug: Balance and Technology

balance

I have a motto in life: Balance is everything.
That said I try to maintain a proper balance in my life of all that I do because stability is foundational. If I like a particular desert I try not to overindulge. If I have a certain opinion, I try not to make that opinion law unless it is law. I enjoy exercising for example, and in so doing I try to maintain a certain body weight, but I do not believe fitness and diet itself makes one healthy entirely. I’m not going to turn exercise into some kind of religion and depend solely on salads to keep me healthy. I believe spiritual health is the key to physical fitness. If someone is weak minded it doesn’t matter how much they work out they will not survive hard times. I can store up as much water is necessary for a drought, but if I don’t possess a strong mind I will go thirsty still. That doesn’t mean however, that physical exercise is not important. It’s not always about losing weight but, as Jillian Michael’s puts it: “It’s about being strong physically so that you’re strong in every aspect of your life.” I don’t know much, but what I do know is that proper balance is everything, the lack of which can throw something off. An improper balance of one thing can cause too much or too little of something else. If you don’t drink enough water, you won’t be able to properly nourish your kidney’s. If you drink too much water, you can die (it has happened).

sales-via-mobile-local-linx-marketing

Today’s technology is wonderful. Because of which I am able to reach people all over the world from this blog alone. Fifty years ago we could not have fathomed what technology has become today. It has changed everything. People can attend schools online. People can shop online. People can even publish books online. The increase in technology and the way it is used today is a great tool for the visionary. People who have a vision to share and understand how to properly use technology to make manifest that vision have greatly benefited from the blessings technology has to offer. Entrepreneurs and small business owners can take advantage of today’s technology to make their businesses more efficient and effective. No longer am I sitting at a desk hand writing this article out with the intent to mail it to every single one of you, but technology has instead given me the freedom to expedite that process by way of typing into a computer. I can then copy and paste this article into my blog post without having to re-type it. Technology has done this. Needless to say I am a big fan of technology.

But like I said, balance is everything.

While technology has made it easier to be in more than one place at a time, and to instantaneously receive and give information, the pacification of technology has taken away our ability to think critically, perform the simplest of tasks without it, and can even take away our desire for self sacrifice. Today, too many of us have become lazy, the smallest of tasks we are now unable or unwilling to perform. From using a broom to hand washing clothes much of the new school generation do not know how to perform these simple chores. We are a generation who grew up on the washing machines. It is (the washing machine), a beautiful invention that I adore. I appreciate having one because I know that many families do not. But if I don’t take the time to understand how to also wash clothes on my hand, this technology has become useless. It has become useless because when my washing machine breaks, and I cannot afford the laundry mat, I cannot wash my clothes. Technology is great, but when it get to the point where we cannot do something as simple as walk down the street without factoring technology into the equation, it has become a waste of valuable time, and an electronic leash in our lives.

social_media-technology-wallpapers

With the increase of Kindle and e-books for example, many book stores have closed because of the decline in print book reading. I’m a bible believer. So it is very much convenient to have a bible application on my smart phone. It gives me the chance to have it at my fingertips without having to carry around my hard copy. But I also need to be able to see the words off screen every now and again. I need to be able to highlight scriptures and run my fingers across these words, flip through pages, etc. But while Kindles, e-books, smart phone screens and PC monitors are great, print book reading is still a valuable skill; enhancing thinking critically, engages the imagination, reflection, and vocabulary. So every now and again I enjoy a good book and try to research outside the internet (which I must say is becoming increasingly more difficult to do).

unplug_yourself_0

But I have an exercise / challenge for each of you: Every now and again (you can choose how more or less frequently), unplug. Step away from whatever form of technology is consuming a large majority of your time to the point it is stopping you from sharpening certain skills . If you don’t know how to wash clothes on your hands, let the washing machine breathe awhile. If you don’t know how to wash dishes without the dish washer, don’t use it for a few days. If you have never swept a floor, put the vacuum cleaner in the closet for a day or two. If you have lost study time because of Facebook or your husband /wife /children hate you because Twitter gets more time than they do, or your cell phone is practically attached to your hand, take a couple days and unplug.

Amazon-Fire-TV-Homescreen-002Studies show, for example, that watching TV, which we can now equate to the computer monitor and smart phone screen, tablet, etc., is equivalent to staring at a blank wall. Among the electrical waves in the brain is something called the alpha wave. It is the wave most active during sleep, creating a sense of relaxation when our eyes are closed. Studies show that this wave is most active while watching television. I like watching TV personally, and I enjoy seeing the symbolic messages embedded in some of my favorite TV shows, but I must maintain a proper balance between my TV time and study time; my TV time and praying time; my TV time and good old fashion conversation. I am not one to advocate for the complete annihilation of television. I understand the whole tel-evil-vision thing, but I think there’s a lot put out before our face that we need to know about. Much truth is revealed in movies and etc., that we often miss. At the same time, I do not think one should spend all of their time in front of the TV either, because there is also important information in books we often miss.

green-family-game-night-best-green-games-for-familyI must say again, I am a fan of technology. But I am also a woman of balance. If you can’t give up your electronic leash for a few days, you are missing out on other things that are non-technical. Technology is good, but family time, engaging with people face to face, print book reading, etch., these are all still very much needed in our lives as each provide a variety of skills and lessons to learn. Likewise (speaking of balancethose of you still living in the stone age need to also realize that technology is present in today’s world; if you are computer illiterate you should probably seek to adjust to the times and plug into a world of which you are absent. But getting back, the need to have things quickly and at our fingertips has limited so many skills on some level or another. Take a few days to step away from the screen for awhile, unplug, and you’ll be amazed at the level of calm and meditation you were able to achieve just by stepping back for awhile.