Writing is not a business

I recently read Rich Dad, Poor Dad by Robert Kiyosaki. It’s a fantastic book, not only because it gives you a basic education on financial literacy, but because it gives you a solid foundation for making money in general. It’s one of those books that really deserves its bestseller status.

About midway through reading it, I realized that I’ve been thinking all wrong about my writing. Everyone always says that if you want to write professionally, you should treat your writing as a business. But that’s not entirely correct.

Writing is not a business, it is an investment. Publishing is a business.

The basic argument of Rich Dad, Poor Dad goes like this: if you want to be wealthy, don’t work for money—make your money work for you. How? By owning more assets than liabilities. An asset is something that puts money in your pocket. A liability is something that takes it away.

When you write a book, you are creating an asset. A book is an intellectual property that generates money. Dean Wesley Smith compares it to a piece of pie in a magical bakery, where you can cut infinite pieces for your customers. With online publishing through ebooks and print-on-demand, that’s not a bad analogy.

If I were to cease all of my publishing activities right now, including all marketing and promotion whatsoever, my books would still generate income. It probably wouldn’t be a lot, but it would still be something. Even starting from zero, with a single book on Amazon under a totally unknown name, over time it will generate a small trickle of income.

A book is an asset. Writing is how you create that asset. Publishing is how you service that asset to make it more profitable.

As an indie writer, I am my own publisher. The business that I own is a publishing business, not a writing business. It’s a subtle but important distinction. I could still create books if I weren’t my own publisher, but at that point I’d be a contractor, not a small business owner.

Writers are not paid by the hour. As an indie, I’m still earning money on work I did ten years ago, and I fully expect to continue earning income on that work for the rest of my life. That’s because writing is an investment. Not a job. Not even a business. An investment.

Which is not to say that the publishing aspect—or in other words, the business aspect—is less important. Quite the contrary. A rental property is an asset, but it won’t make any money unless you find renters and take care of the upkeep. Similarly, a prime plot of farmland is an asset, but it won’t make any money unless you work it.

So how do you “work” your books? By publishing them, of course. Publishing is your business. This includes marketing, promotion, branding, and the like. Publishing is the business that makes your assets—your investments—profitable.

 

The implications of this are really interesting. For example, suppose you have a book that doesn’t sell very well, or that gets a bunch of negative reviews. Does that make you a failed writer? Does it spell doom for your career? It’s easy to think so if you think of writing as your business.

But when you think of writing as an investment, everyone changes. Got a book that tanked? That’s okay, it’s just that book. Every investor gets it wrong every once in a while. Learn from the mistake and pick a better investment next time.

If all your books are tanking, is that a sign that you’re just not cut out for this writing thing? Possibly… or it could just be that you need to work on your publishing. Even the richest farmland needs to be tilled, and fertilized, and watered properly. Perhaps you just need to learn how to market better, or brand your books better, or do a better job of finding and connecting with your readers.

On the flipside, suppose you have a book that used to do well, but now it isn’t selling as well as you would like. You’ve clearly done a good job of marketing it in the past, but what can you do now? Market it even harder? Or recognize that this is just a normal part of the investment cycle and go out to develop a new asset?

If writing is your business, then the success or failure of your books is a direct reflection of yourself as a writer. With that kind of mindset, it’s easy to fall into some traps. On the one extreme are those who believe that publishing well is secondary to writing a good book, and that therefore they should devote the bulk of their time and energy to writing. On the other extreme are those who seek validation so hard that they put all of their effort into the publishing aspect and neglect the writing. The truth is NOT somewhere in the middle, because both extremes grow out of a faulty premise: that writing is your business.

This is the Fugio cent. It was commissioned by the Continental Congress before the ratification of the Constitution, and designed by Benjamin Franklin. Fugio means “I fly,” referring to the sundial, which represents time. Taken with the inscription below, it is a reminder that we can all leave the world a better place by doing our best in whatever line of work we choose to pursue.

For many of us, writing is more than just a hobby, or a job, or even a career. It is a vocation. It is our calling. And yet, we live in a commercial world, where the price of a thing is often conflated with its value. How, then, can we best fulfill our calling as writers? By ignoring the demands of the market? By fancying that our books are simply unappreciated by those of inferior tastes? Or by losing sight of our calling for that lucre that will perish with us?

Benjamin Franklin’s message is that we can best fulfill our calling by pursuing excellence in every aspect of it. That includes the commercial aspect as well as the artistic, the practical as well as the spiritual. When we truly learn how to excel, we will see that there is no contradiction between the two sides.

Writing is our calling. Publishing is our business. Our books are investments, many of which may very well outlive us. By understanding this, I firmly believe that we can mind our business as well as Franklin admonished us, and truly fulfill our calling.

New short story!

Hey guys! Just a quick post today to let you know that I have a new short story out! It’s a fantasy short this time, set in the same universe as The Sword Keeper. With this latest one, I’m still on track to publish something new every month. Check it out!

My Name Is For My Friends

My Name Is For My Friends

When fellowship draws the line between life and death, trust must be proven.

Two men, both strangers, hardened by blood and steel. Both are poised to kill. Neither knows whom to trust. Only one thing is certain: any mistake will result in death.
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About the Book

When fellowship draws the line between life and death, trust must be proven.

Two men, both strangers, hardened by blood and steel. Both are poised to kill. Neither knows whom to trust. Only one thing is certain: any mistake will result in death.

This book is rated T! according to the AO3 content rating system.

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Author:
Genres: Fantasy, Heroic Fantasy, Short Stories, Sword & Sorcery
Tag: 2017 Release
Publication Year: March 2017
Length: Short Story
List Price: .99
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About the Author
Joe Vasicek

Joe Vasicek fell in love with science fiction with Star Wars as a child and hasn't looked back since. He is the author of more than twenty books, including Genesis Earth, Bringing Stella Home, Heart of the Nebula, and the Star Wanderers and Sons of the Starfarers series. As a young man, he studied Arabic at Brigham Young University and traveled across the Middle East and the Caucasus. He currently lives in Utah, which he claims as his home.

Disclosure of Material Connection: Some of the links in the page above are "affiliate links." This means if you click on the link and purchase the item, I will receive an affiliate commission. You will not receive any additional charge.

First impressions of Iowa

It’s flat, but not as flat as I was expecting.

There are lots and lots of pickup trucks. The ratio of pickup trucks to other vehicles is probably higher here than it is in Utah.

There’s definitely a lot of aggressive drivers, but they all tend to be aggressive in the same ways, so it’s not that bad. Very different from Utah Valley, which has some of the worst driving I’ve ever seen (and I’ve been around!)

Why don’t the roads have suicide lanes or shoulders? Seriously, it would make the driving so much better!

Okay, enough about driving…

The weather can get really windy. On the highway, I’m almost always fighting a headwind or riding a tailwind (so much for no more driving).

Twilight lasts FOREVER. This is definitely big sky country.

The people seem friendly enough. A little self-depreciating, but not overly so. One of the things I hear from them is how “uncultured” or “stuck in the old ways” Iowa is, but I see little free libraries all over the place here.

People tend to have rounder faces or more Irish complexions. Most everyone is white, though there are a fair number of Asians and Hispanics.

I’ll probably get in trouble for saying this, but the young women in Iowa aren’t quite as attractive as the young women in Utah. That’s a very high bar to hurdle, though, and of course there are exceptions.

I’m genuinely surprised how much Mormon stuff there is out here. I thought it was mostly just in Utah. There’s Winter Quarters, Nebraska, which of course has a large historical site, but there’s also a bunch of smaller historical sites in Iowa proper, connected with the Mormon trail. Haven’t even made it out to the east either, which is right next to Nauvoo.

That’s pretty much it for first impressions. I’m looking for part-time work, but haven’t found anything yet, though I have landed a couple of interviews. Hopefully something works out. In the meantime, I’m working hard to build my writing career, especially the publishing side of the equation. I’m not that far off from writing full-time again; I just need to build things up into a sustainable business. More on that some other time.

 

GUNSLINGER TO THE STARS now up for pre-order!

Hi guys! Sorry to be out of the loop for a while. I have just made the pioneer trek of my ancestors, except in the wrong direction (from Utah to Iowa). Still getting settled in, but I should be more active from now on.

That said, I’m happy to report that Gunslinger to the Stars is now available for pre-order! It’s scheduled to release on May 19th, across all ebook platforms. For Kindle, Nook, Kobo, iBooks, and Smashwords, you can pre-order your copy now!

I’m super excited about this book. It’s my first novel since May 2016, and if it does well enough, I’d like to expand it into a trilogy. Either way, it’s definitely taken my writing in a new direction, and I think you’re really going to enjoy it. If I had to pitch it in one sentence, I’d say that it’s Monster Hunter International meets Guardians of the Galaxy.

Just a short post for now, but I’ll be sure to let you guys know what I’m up to as I get back into the swing of things. Thanks for reading!

Gunslinger to the Stars

Gunslinger to the Stars

Not long from now, in our own Milky Way…

Sam Kletchka here, freelance gunslinger and interstellar privateer. This, my friends, is how I went from being stranded in the armpit of the galaxy to becoming the luckiest human being in the universe.
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About the Book

The name’s Sam Kletchka. Perhaps you’ve heard of me: captain of the Star Runner, military contractor for Earthfleet, and interstellar privateer. But before all that, I was a hired gun, freelancing across the galaxy one gunslinging job at a time.

This, my friends, is how I went from being stranded in the armpit of the galaxy to becoming the luckiest human being in the universe. Not that it was easy, of course. I’ve looked death in the face so often, he’s practically an old buddy of mine. But when all your worst enemies are immortal, that’s a buddy you want on your side.

Stay frosty, my friends. You never know what you’ll find at the next star.

This book is rated T! according to the AO3 content rating system.

Details
Author:
Genres: Action & Adventure, Science Fiction, Space Opera
Tag: 2017 Release
Publication Year: May 2017
Length: Novel
List Price: 3.99
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Buy from Amazon Kindle
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Buy from GoodReads
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About the Author
Joe Vasicek

Joe Vasicek fell in love with science fiction with Star Wars as a child and hasn't looked back since. He is the author of more than twenty books, including Genesis Earth, Bringing Stella Home, Heart of the Nebula, and the Star Wanderers and Sons of the Starfarers series. As a young man, he studied Arabic at Brigham Young University and traveled across the Middle East and the Caucasus. He currently lives in Utah, which he claims as his home.

Disclosure of Material Connection: Some of the links in the page above are "affiliate links." This means if you click on the link and purchase the item, I will receive an affiliate commission. You will not receive any additional charge.

A fascinating journey of discovery

I had a really fascinating experience last year that has turned into something of a journey of discovery. It’s still ongoing, and I’m sure it will affect my writing in years to come.

It started with family history. Long time readers of this blog will know that I’ve been interested in family history for some time. My sister is a professional genealogist who specializes in Czech records (she keeps a blog here), and I got started by helping her.

In the United States, the census records are only useful to about 1850. Before that, you have to get into land records, probates and wills, and local courthouse type stuff to really go anywhere. But in the Czech lands, the Catholic Church has kept meticulous parish records going back to the 15th and 16th centuries. They’re handwritten in old German and totally unindexed, but the books are all digitized and available online.

As I worked on this research with my sister, I started to wonder: how far back can we push these lines? What are the limits?

The Czech lands were part of the Holy Roman Empire, under the Austrian Habsbugs. In the 15th century, the Hussite Wars shook things up quite a bit, and that’s about as far back as the Catholic parish records go. But the noble genealogies were very well kept, and go back quite a bit further. If one of your lines connects to the nobility (which is very possible, given how many bastard children were running around), you can push back really far.

But past the 8th century, things start to get sketchy. Most of the nobility in Europe are descended from the barbarian tribes who invaded the Roman Empire: the Goths, the Franks, the Vandals, etc. Same thing with the Slavs and the Byzantine Empire, though the Byzantines held out much better than the Western Roman Empire (it was the Turks, not the barbarians, who eventually did them in).

The trouble is that when these barbarians took over, they tried to establish their legitimacy by fabricating genealogies. Plenty of royal European lines go back all the way to Adam and Eve, but how reliable is that really? As rulers of Christian lands, of course they would try to connect themselves to famous characters from the Bible.

The Dark Ages might not be as dark as we think they are, but in terms of records and record-keeping, they certainly are. The largest and most civilized empire in the world had just collapsed, with barbarians running amok in the countryside and the Persians threatening the last vestiges of the empire in the east. Very few historians have documented this era, and it was a huge dark spot in my own understanding of the world.

So I set out to study it. I scoured Wikipedia, subscribed to the Western Civ podcast, and listened to the entire History of Rome by Mike Duncan (excellent podcast, by the way). The Roman Empire had dominated Europe right up to the early middle ages, and I wanted to learn why it had fallen.

That led to a journey of discovery all in itself. Roman history is a fascinating subject in its own right, and the four or five centuries from the Punic Wars through the reign of Marcus Aurelius are very well documented. Rome faced a lot of challenges, and even a few existential threats, but for more than a thousand years they dominated the known world.

So why did they fall?

The more I studied about the Romans, the heavier this question weighed on me. I learned about Diocletian and the Tetrarchy, the crisis of the third century, and Constantine the Great—a period of Roman history that was much less familiar to me. And then things started to click.

My Czech ancestors were serfs. They emmigrated to Texas shortly after the last vestiges of serfdom were abolished in 1848. Under serfdom, they were little better than slaves. The land they lived and worked on was owned by the Hukvaldy Estate, and they were bound to it by feudal law.

When Diocletian became Augustus, the Roman Empire was reeling from half a dozen existential crises, including an economic collapse. The money was so worthless, most of the empire had resorted to a barter economy. Diocletian established a system of exchange where people could pay their taxes with trade goods rather than money. However, the only way for that system to work was 1) for everyone to take the profession of their parents, and 2) for no one to move without Imperial permission. Otherwise, you might have too many pig farmers in one province and not enough blacksmiths in another.

In other words, the system of feudal serfdom that my ancestors labored under had its roots in the reforms of Diocletian. But it went much deeper than just one man. Diocletian reforms were necessary because the Roman economy had collapsed, and the economy had collapsed because for more than a hundred years, the Empire had been in massive debt, and had serviced its debts by devaluing its currency.

Sound familiar?

The Roman Empire fell because of deficit spending, government debt, and currency devaluation over the course of several generations. In 1913, the United States established the Federal Reserve, beginning our own process of currency devaluation. Our national debt has doubled every eight years since 2000, when the stock market peaked as measured in gold. Right now, our debt-to-GDP is 104%. One hundred four percent.

And that’s just our sovereign debt. Our household debt is north of $12 trillion, or another 73% of our GDP. The largest portion of that is student loans, which cannot be resolved through bankruptcy.

Seven out of ten Americans have less than $1,000 in savings.

Half of Americans would have to beg, borrow, or steal if slapped with an unexpected $400 expense.

Twenty percent of American households do not have a single person that is working.

Fully one-third of America is in debt collections, meaning that they have an unpaid debt more than 180 days past due.

Is it any wonder that the middle class is shrinking? We’re following the same path that Rome followed, except where they merely walked, we’re running headlong. With our modern communications, the pace of life is so fast that I suspect we’re completing the cycle in a fraction of the time.

And then you realize that what passes for money these days isn’t “money” at all, but government paper backed by government debt. What happens when we default? What happens when the credit markets freeze up and contagion spreads across the global economy? What happens when you wake up one morning, only to find that all the ATMs are down, the banks are all closed, and everyone’s accounts are all frozen?

So what started as an interest in family history took me down a rabbit hole where I learned all about how Rome fell, and how we’re following in the footsteps of Rome. It led to a keen interest in monetary policy and our global monetary system. It also gave me a new hobby: coin hunting.

The Romans devalued their currency by melting down the old gold and silver coins, and minting new ones mixed with copper. Over time, the melt value of the coins went down, and that’s exactly what’s happening to our US currency now.

Before 1965, dimes and quarters were made from 90% silver. After, they were made from copper with a thin nickel coating. Nickels have always been made from a 75/25 copper-nickel alloy, however, and pennies were all 95% copper until 1982. Right now, the melt value of a US penny is actually 1.8¢. At the height of the “jobless recovery” it was closer to 4¢.

Now, it’s illegal to melt down pennies because they are currently legal tender. However, as the currency continues to inflate, the penny will become even more worthless, eventually reaching the point where it doesn’t make sense to make anymore. Right now, the material cost alone of each zinc penny is 70% of the face value. Canada has already discontinued minting pennies, and we aren’t far behind.

I started dabbling in copper hoarding. But as I went through lots of pennies, I started coming across some really old ones. Which got me to wondering if maybe the numismatic value of some of these coins eventually might be more than their melt value. After all, when everyone’s melted down their copper pennies, a complete collection of Lincoln cents is going to be something special.

So I started building a collection of Lincoln cents. Then I got into state quarters, first as a cool Christmas gift for one of my nephews, then for myself. Then I got into Jefferson nickels, and started finding silver.

Right now, I have a complete set of Lincoln Memorial cents. They’re all from circulation, and some of them are pretty beat up, but there are a few really nice ones in there too. My wheat cents collection is much less complete, but the coolest piece is a 1909 VDB in very fine condition, with all the wheat berries still showing. That’s a $10-$15 penny that I found in a normal coin roll.

It’s a fun hobby, and it comes around full circle to what got me started down this rabbit hole in the first place. Each one of these coins is a small piece of history. That 1909 VDB is more than a hundred years old. I’ve got coins that my parents and grandparents would have used, and a penny for every year of my father’s and mother’s lives. With a bit of luck and a lot of patience, I’ll be able to find a penny for every year of my grandparents’ lives as well.

So yeah, it’s been a fascinating journey of discovery, and it’s still ongoing too. I just got started with Roosevelt dimes, and I’m catching up on Mike Duncan’s Revolutions podcast, which is just as interesting as his History of Rome. Turns out that the French Revolution also happened because of deficit spending and a runaway government debt. Surprise, surprise.

Life is a giant rabbit hole when you’re curious about everything!