Per author and editor Troy Lambert, when you step back and look at an author business from a big picture perspective, it's the same as any other consumer business. There are 3 key elements that must be integrated for the business to be successful: 1) production, 2) product, and 3) promotion. Production includes not only the writing of the book, but all of the design aspects as well. Authors must then choose how they are going to produce their book, and there are many publishing paths available to authors today. Authors must also consider how to get their books into the hands of readers which involves decisions on distribution channels. Once the plan to get a book to readers is mapped out, authors must strategize the marketing and promotion - how are readers going to know about the book?
Lambert believes that authors should be heavily involved in every aspect of their business because they know their books best. If you are truly interested in turning your author business into a full-time career, Lambert says to be prepared to take on a tremendous amount of responsibility, and to discuss your plan with those around you so they are on board.