How to Open Your Own Publishing Company

How to Open Your Own Publishing           Company

 by Ester Lopez 

I Start with Small Business Administration (SBA)

  http://www.sba.gov/ Starting and managing a business

  A. Ten Steps to Start Your Business

     1.  Conduct market research

     2.  Write your business plan

     3.  Fund your business

     4.  Pick your business location

     5.  Choose business structure

     6.  Choose a business name

     7.  Register your business

     8.  Get federal and state tax IDs

     9.  Apply for licenses & permits

    10.  Open a business bank account

  B. Business Plan

     1.  Executive Summary

     2.  Introduction

     3.  Marketing Plan

     4.  Management Team

     5.  Financial Projections

         a. list money spent

         b. include funds raised

         c. source of those funds

         d. how funds will be used

         e. common documents: operating expense report, cash

            flow statement, balance sheet, income statement

         ** Most common mistake in starting a business is

            underestimating startup costs and the time required

            to generate positive cash flow

      6. Personal Financials

  C.  Taxes and Insurance

      1. Local, Federal, Franchise and Excise taxes, and Sales

         and Use taxes

      2. Register business with the Tennessee Department of

         Revenue online at:  apps.tn.gov/bizreg

      3. Business License tax

       4. Legal Structure determines what Federal Taxes are due

       5. Four kinds of Federal Business Tax: Federal Income

          Tax, Self-Employment Tax, Employment Tax, and Excise

          Tax

       ** IRS publications found online at: irs.gov

       ** The Tennessee Department of Revenue start-up guide

          online at:  tn.gov/revenue

       6. Franchise and Excise Tax

       7. Sales and Use Tax

     D. SBA Blog for up to date industry information

II   "The Self-Publishing Manual" by Dan Poynter (must read!)

    

     A. Resources

        1. Subscribe to Publishers Weekly

        2. Purchase a copy of Literary Market Place

        3. SCORE - Service Corps of Retired Executives, SBA's

           volunteer network - check for nearest chapter

        4. Join IBPA-Independent Book Publishers Association

        5. Join BookWorks (The Self-Publishers Association)

        6. Join APSS (Association of Publishers for Special

           Sales)

        7. Consider SIBA - Southern Independent BookSellers

           Association

     B. Steps to Publishing

        1. Write a great book

        2. Hire an Editor

        3. Hire a formatter (ebook & print book)

        4. Consider an 'interior designer' for print book

        5. Hire a book cover designer

        6. Hire a proofreader

        7. RR Bowker for ISBN and bar code

        8. Apply for Copyright at:

           http://www.copyright.gov/help/index.html - general

        9. Library of Congress Cataloging in Publication (CIP)

           PCN (Pre-assigned Control Number)

           http://www.loc.gov/publish/pcn/

       10. List book - Small Press Record of Books in Print

           under Dustbooks - apply online

       11. Book Pricing - selling through bookstores and mail

           order should be priced at eight times "unit

           production costs" compare to other similar books

    C.  Promoting Your Book

        1. Takes time

        2. Pre-publication reviews

        3. Notify friends

        4. Author tours/Blog tours

       

    D.  Distribution

        1. E-Book vs Print Book

        2. Amazon/Smashwords

        3. Small Independent Book Stores vs Chains

        4. Discounts, returns, printing charges

        5. Book Fairs

    E.  Advertising

        1. Direct Mail

        2. Online/website

        3. Co-Op Advertising

        4. Facebook Ads

        5. Amazon KDP & other programs

        6. Networking

        7. Cross promotions

      

    F.  Fulfillment