Wednesday, Aug 28, 2013

(Business) Return on Investment (ROI)

Rising profitsAll of us want to see results from our efforts. In the business world, those results are called “Return on Investment” or, simply, ROI.

What is your writing ROI? Here are a few questions to ask yourself to determine if your efforts are bearing fruit?

  • Do I have a business plan? A business plan is a written document of your expectations for your business. In order to measure whether or not your efforts are bearing fruit, you must know in advance what fruit you wish to bear?
  • Have I established specific steps to implement my business plan? A business plan without action steps is a lifeless document.
  • Do I have specific ways of measuring my fruit? For example, did you set a goal to write a certain number of stories this year? Did you set a goal to acquire an agent?  You must know what your goals are before you can determine whether or not you have achieved them.

We all have 24 hours in a day.  How much fruit we gather from those hours depends on how well we plan our day. Make sure that your ROI reflects a day well-spent and, in the long run, a writing life well-lived.
Photo Source: Microsoft Clipart

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