Money for Authors: Income, Profit, And Cashflow

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Today I’m talking about money - and specifically the difference between income, profit and cash flow, which many authors seem to be confused about.
[Disclaimer: I'm not an accountant and this is not financial advice. Just my thoughts after 18 years running my own businesses, and being profitable in my author business since 2011.)

Why the distinctions are important to understand especially when you see authors sharing dashboard screenprints on social media, and when comparisonitis is rife around rankings and number of books sold - which might not represent money in the bank
What is income and what are the different sources?
What is profit and how can an author selling fewer books be more "successful"?
What is cashflow and why is it so important if you want to make a living with your writing?

Do you have any questions about money for authors, specifically around income, expenses, or cash flow? Please leave a comment or question below. I'm interested to know what else you'd like to know about.

For more on running your own author business, check out Business for Authors: How to be an Author Entrepreneur, available in ebook, print and audiobook formats:
https://www.thecreativepenn.com/busin...