As an author, you create a piece of art. But you also create an intellectual property asset that you can license in multiple ways to provide you with a long-term income. In today's show, I discuss the concept of the magic bakery with Dean Wesley Smith.
In the intro, I discuss how the traditional publishing industry is increasingly split between high earners and debuts, and then a mid-list who are struggling and what this means for how intellectual property rights can help provide new income streams.
In global news, Luis Fonsi's Despacito has become the most-streamed song of all time, evidence of the growth of internet-driven income streams for creatives. “Streaming has allowed a song with a different beat, from a different culture, in a different language, to become this juggernaut of success and pleasure … Anything and everywhere is up for grabs.” [BBC article]. Plus, Amazon launches the Pen to Publish competition for those authors publishing on Amazon.IN, clear evidence that they are trying to grow readership and author-publishers in India. Interesting times … 
Today's show is sponsored by my own How to Write a Novel course, which I created while writing End of Days, so you get a behind the scenes look at how the book came together. One course member, Leigh Anderson said, “This course is exactly what I was looking for. I now feel well on my way to writing and completing my first draft. It has been a real breakthrough for me.” Check it out at www.TheCreativePenn.com/writenovel
Dean Wesley Smith has published hundreds of novels and short stories, including books in the Star Trek, Men in Black, and X-Men worlds, as well as many written under different pen names, plus his own science fiction, fantasy, thriller and other books. He has his own monthly magazine, Smith's Monthly, and writes a daily blog on his writing journey.
You can listen above or on iTunes or Stitcher or watch the video here, read the notes and links below. Here are the highlights and full transcript below.
Show Notes

* What has changed for publishing and authors in the last 7 years

* The Magic Bakery metaphor and why it matters for authors

* Why Dean thinks authors don't need agents

* Dealing with comparison-itis

* Reconciling the two hats authors need to wear – business person and artist

* Why no writing is ever wasted

You can find Dean Wesley Smith at DeanWesleySmith.com and on Twitter @DeanWesleySmith

Transcript of Interview with Dean Wesley Smith
Joanna: Hi, everyone. I'm Joanna Penn from thecreativepenn.com, and today I'm here with Dean Wesley Smith. Hi, Dean.
Dean: Hi, how you doing?