what to do next

about a year ago, i tought myself a few chords on my friends guitar. i picked the chords up pretty quickley, and can still transition between the chords fairly quickley. i also have a decent understanding of music theory- i can play quite a few instruments (drums, different saxaphones and clarinets combined for 7 years, and bagpipes)
for a few years, i have been writing. recently i have started writing a lot more lyrics that i would like to start putting music to. i also have a friend that will let me borrow his acoustic guitar while he is off at college.
what should i do or start working on?

Work on your soloing. Chords are nice and are your best tools for songwriting, but if you ever want to start doing gigs it's pretty hard to get a good fan base without doing solos or three-chord semipop covers (being able to jam being the preferable option).

i think it depends on the music you are looking to play. but whatever it is, you should keep working on your chords. try picking it up to a rather brisk pace. and work on playing them cleanly. be tough on yourself. if you hear a buzzing string, play it over again.
if you are playing harder rock, work on palm-muting your chords. do all downstrokes for better chunk though.
if you are wondering what to do next, dont worry about soloing. because judging by that question, you are a long ways from playing for an audience. work on everything else, then focus on solos.