Suw Charman-Anderson talks about trying to treat your writing more like a business (hint: that’s what we’re hoping to help you do when Literarium launches):
One of the biggest problems for small businesses is keeping a steady stream of income trickling into your bank account. Often, when you are deep in a project, you’re too busy to set up the next bit of work, which means that when your busy phase ends you find yourself with nothing to do. That gives you a chance to do some marketing, but it takes time to set up new gigs and even longer for them to start actually paying. It’s only too easy to end up in a famine-feast cycle, lurching from project to project and never really settling into a comfortable rhythm.
Suw brainstorms a long list of possible sources of income (from limited editions through to character name sales and exclusive previews), then adds:
Every opportunity comes with a cost: Whilst I am translating my book, I can’t also be recording an audiobook, so I have to decide which is the best use of my time. My second language is Welsh, but much as I would love to translate Argleton, the Welsh language market is fairly small and the cost of a Welsh editor would be more than I would be likely to make from sales. So it makes more sense for me to record an audiobook instead.
It’s long and really helpful, so do read it here: http://www.forbes.com/sites/suwcharmananderson/2012/11/21/the-business-of-writing-turn-your-income-stream-into-a-river/