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Anonymous

05/29/19 at 7:30PM UTC

Career

Small Business or First Book

So I am currently at a crossroads, I want to raise money for either one of my passion projects but I am not sure which to raise money for. The passion projects are either 1. finally publish and market my novel with full production costing $14,500 or 2. Invest the money into launching my business and paying for startup expenses which is around the same amount. I'm trying to decide which is the best option & cost-effective. Which would you choose?

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Amanda Honigfort

185

Journalist, Entrepreneur & Media Professional

06/05/19 at 8:31PM UTC

I’d consider which realistically has the best long-term payoff and which you’re more passionate about

Anonymous

06/06/19 at 8:34PM UTC

Im passionate about both, however, I've been wanting to publish my book for a long time. So it's tough to make that decision. But being that I've already composed the manuscript I think it would be easier to publish my book first.

Anonymous

05/31/19 at 9:57PM UTC

Well it’s a product-based business & I would not have a physical store. I also would not be employing anyone. So that greatly reduces my expenses.

Anonymous

05/31/19 at 7:23PM UTC

I don't know much about book publishing (but that seems to have been covered by others). But I do know a bit about startups as I've tried (and failed) at a couple in my past life. I find it very unlikely a startup could be launched with only $14,500 unless its a very service-oriented business or full-upon-order product line. Can you share more what type of business you think you can launch that amount?

Anonymous

05/31/19 at 9:58PM UTC

Sorry, my response is below this.

Amy Wasserman

309

Program Coordinator | Writer

05/30/19 at 12:42PM UTC

It might be worth querying your novel to agents first to see if you can get it published without fronting the cost. QueryTracker is a great resource. That will allow you to invest in your business without sacrificing your art.

Anonymous

05/30/19 at 2:49PM UTC

Thank you! I will definitely look into query tracker. I've only proofread and edited the book myself, do you think I should get it professionally edited before I look for agents?

Anonymous

05/31/19 at 3:52PM UTC

Don't bother to have it edited again. If an agent or publisher is interested in your novel, then there's a good chance that you will end up going through additional rewrites and editing before it is published. They will provide professional editing. To get started, they want to know you write well and have a great plot idea. They details they can help you massage to get the best book. Having written a book, I know that we are usually too close to the material to see holes and areas for improvement that a professional can see.

Anonymous

05/31/19 at 3:57PM UTC

Yes, I agree. I'm sure my story needs work and I'm super excited to see what it will manifest as, in the next level. Thank you for your advice. I guess I can start looking for agents now.

Amy Wasserman

309

Program Coordinator | Writer

05/31/19 at 12:40PM UTC

I do recommend having a trusted first reader give you feedback. This can be a friend, family member, fellow writer, etc.

Amy Wasserman

309

Program Coordinator | Writer

05/31/19 at 12:39PM UTC

You probably don't need to do that just yet. Agents want a strong query letter, summary, and first pages. If they request your full manuscript they will let you know if they want to pass, want you to rewrite and resubmit, or if they're interested in representation. Also check out Writers Digest for query letter examples and new agent announcements. Once you have an agent, they will shop your book to editors/publishers. Publishing is a super slow and long process, and it generally involves a lot of rejection. I also recommend checking out some of the mentorship contests depending on your genre. Manuscript Wish List is a good resource as well. Best of luck!

Anonymous

05/31/19 at 3:10PM UTC

You have been so helpful thank you so much. I have researched the process of publishing before and I know it's a pretty long process. But I didn't continue with the process because I figured Agents would want an extremely polished manuscript. But I will check out the websites you have suggested and get started on looking for an agent. I have had a group of friends look at my book and provide criticism and after the criticism I edited my book myself.

Jemia Williams

452

DEI Practitioner | Social Media | Writer

05/29/19 at 8:51PM UTC

Maybe start with the one that could generate the income quickest for you to do option #2 soon after. See if there is a way you can do both within 12 months!

Anonymous

05/29/19 at 9:01PM UTC

So you're saying to choose either, one that will generate the quickest income or find a way to do both at the same time?

Jemia Williams

452

DEI Practitioner | Social Media | Writer

05/30/19 at 11:49AM UTC

My first choice would be to go with what ever can generate the quickest income for you that way you can quickly start the second venture. You might be able to realize that you are doing both of them almost simultaneously

Anonymous

05/30/19 at 2:45PM UTC

Thanks! I thought of doing it like that as well, but wasn't sure if the book would make enough money to be a good source of income or to provide money to allocate to my venture.