There are several problems with taking your expertise to market. The largest one is not dedicating time to it. While writing a book or program is unwieldy and time-consuming up front, if you've got a big PURPOSE for writing a book for business, boom, motivation problem solved. This could be helping a charity close to your heart or shining the light on a problem that's been a past source of agony for you. Problem: One Offer, Low Revenue Base Independent consultants and coaches need to grow income from more than just services, to diversify some away from their TIME. When someone is sick, their billings stop—and so does their income. Also, it's really hard to sell the business or spin-off assets left and right with one-to-one services. To create more streams of income, you must offer books, audiobooks, an online training course/s, keynotes or group work, presentation, and if you're game, online memberships or apps. (I don't recommend creating an app). …
This is the question I really want to see on Quora and which I will attempt to answer. But what I really see are questions from a smaller mindset, like:
- If I get my book edited, how do I prevent it being leaked or stolen? (paranoia)
- How long does it take to get a book deal?
- How do I write a book and publish it?
It seems nobody asks the real question: what’s the key to making wealth from publishing? When, if they started from that place, I think it would work out better. But why?
We all seem to be conditioned to think of wealth as a grand place for celebrities who ride around in their fast cars, drink champagne from super-yachts, and laze by the pool in their mansions.
The truth for most millionaire publishers couldn’t be more different. Most high net worth individuals become that way by being disciplined, working on a core activity, and smartly investing their savings (their gap). Any old fool can spend more than they earn; it takes grit to say “no” or “maybe later” to yourself when you do have the money to spend.
When we apply this theory to publishing, it still works. Dale Beaumont (Australian) some years ago built a prolific, successful book publishing business by not writing a word. Instead, he and his team compiled interviews from different groups of entrepreneurs or business owners, in a 16-book series: “Secrets of Success Exposed”.
Each book has the same model of questions but with all different insights. The interviewee tells their stories and the business book publisher masterminds the whole production and marketing system.
Dale had three million-dollar businesses by 30, and now 39, is worth $38 million (while living a balanced lifestyle). He told the Daily Mail UK: “One of those is a publishing company which saw me write and publish 15 books within the space of three years and which helped me to make my first $1 million.” (He also ran 1,260 events for business people and sold business coaching).
So, being prolific and taking massive action without fear lies at the heart of his success. But you can tell from these tips on dealing with rejection, that he has overcome the mental demons we all face, with grace.(more…)
Recently I noticed that successful people all seem to get up early and work on personal development. This includes knowing their body’s needs and exercising. I realised that just reading the news and gossip online or admiring others was never going to get me anywhere near my own goals.
What are my goals, anyway? Then, while at Kmart (of all places), I saw a book that could start my 2020 off to a bang. I reveal this soon. But first, here is a productivity system you could use.
Learn the 1000% Improvement Method
This is ‘incremental improvement’—getting a little better every day—otherwise known as ‘the Kaizen principle’.
Brian Tracy asks: “Is it possible for you to make a 1/10th of 1% improvement in productivity per day?”
(Doing it weekdays, your actions would be 0.5% more improved within a week and 13% in a month).
This translates to you working on a more important task or doing a task slightly better. (Perhaps a new system occasionally as well, I presume).
Your overall output can become amazing, posits Tracy… in fact, 26% more productive in a year.
Your income would likely go up 26% per year too. This building on improvements is called the Momentum Principle.
You start early, set good priorities, and work a little harder. If you do this improvement as a habit, so every year over the course of ten years, the compounding effect means you will be working at around 1,400% better, according to Tracy. This then would be reflected in the quality of projects you do and the amount of money you earn.
Here is Brian Tracy’s famous 1000% Improvement list but with my own interpretation. Watch the video afterwards, if you like.
1. Spend your First Hour of the Day on Personal Development
I am spending nearly an hour most mornings on personal development, and then I write out some more on my goals. I do a few stretches. Then if it’s a weekday, I move to writing out my task list.
My present book reading is: Your Dream Life Starts Here by Kristina Karlsson. This is a good book for setting all your goals and taking action.
My audio reading at the moment is: Booked Solid (Michael Port) and The Power of Vulnerability (Brene Brown).
2. Make a Task List
Then I make a Task List of everything I need to do that day, but not too many.
3. Prioritise that List
Then I look at the tasks and find the most important to move my business or life forward. I put the two most important things an call it A.
(This I learned from Eat That Frog, also by Brian Tracy).(more…)
Jack Kerouac I know it’s common to think of book writing as some kind of artisan thing, a Jack Kerouac at his writing desk, typing away his creative best. But that just ain’t reality, kid. In the real world, we must find a rising trend and a unique angle for our book. Not only for it to be looked at in the first place, but because if you don’t, you’re really only writing books for you. That’s nice, but it doesn’t pay any bills, even the ones for your book. As a past copywriter, I’m familiar with having to get my commercial brain into gear and research like mad. But I understand that’s not all that common. I sent a K-lytics report on hot niches to a writer friend and he was both awed and confused. Although there is nothing wrong with that. It is extremely difficult to deduce which hot cell or hot niche would match up with your…
Our inner psychology tells us to be obedient to authority figures, even when obeying leads to our own downfall. Ignore them, be creative, and find new, high-value markets where you can tap into the new gold rush.
The Power of Authority
Our faith in authority figures leads to our falling into money traps. Studies have shown we are strongly inclined to follow the instructions of someone who looks like an expert. We will even substitute our judgement for those with the symbols of authority. Research into obedience to authority shows that we underestimate the extent to which the appearance of authority will influence us. (Social Psychology, 1999).
While the old scientific tests were mainly done with people in doctor’s coats, this influence also applies to political leaders, financial experts, or any authority figure, even celebrities with no financial standing. Do the gurus of internet marketing also come to mind?
So what can we do about it? How do we detach ourselves from this strong influence and work to our own goals? One way, that I mentioned in my book How to Control Your Financial Destiny, is to forget the herd’s sentiment and make your own decisions contrary to the crowd.
Contrary investing means you would invest when people are most fearful of investing (and thus get the lower prices), and withdraw and seek other markets when the herd is caught up in buying frenzy.
Contrary marketing would thus mean you are creating some unusual types of content, or using unusual mediums, that enriches the lives of others. I write about niche marketing for authors on here a lot.(more…)
What is the economic forecast in your household? Gloom or Boom? While the national economy fluctuates, if you have lost your job or top clients, it’s no good to you whether the stockmarket is rising, or interest rates are up, or any of that stuff! You live in the now of needing more income. Better yet, make it residual income so we don’t have to go through this anguish again.
My own family suffered through a household recession in 2008-09. What helped me was this premise: “every adversity brings with it the seed of an equivalent advantage” (Napoleon Hill). Out of this hard time, my copywriting sprouted wings and then I turned to teaching others how to write a book (or editing them).
The Lure of Residual Income
Illness, job losses, income insecurity: all these make us long for a residual (passive) income. Many of us turn to online sources for the new gold of our time.
But within this ‘making money online’ field, there are many pitfalls for the unwary. I found that psychological principles apply on the Internet just as they do in real life.
Consider this – you have been conditioned to search for GAIN without WORK, quick cash, and easy success. You’ve watched Gary Vee or other internet gurus and how well they’ve done and it seems so easy. This is just a mindset trap.
Seth Godin says on ‘instant success’:
“It still takes ten years to become a success, web or no web.”
“The irony of the web is that the tactics work really quickly. You friend someone on Facebook and two minutes later, they friend you back. Bang. But the strategy still takes forever…”Seth Godin
It also spells failure for the thousands of people who see others’ outward signs of success (income, houses, cars), but don’t understand the depth of their powerful drive and action towards their goals.
I’ve banned myself from saying ‘passive income’ because, let’s face it, most good income sources are NOT passive at all and require hours and hours of your precious time up-front. It would be truer to say ‘long-haul income’!
That’s the pessimistic stuff out of the way. If you’ve found a topic that really interests you: that’s the place to start. Whether it’s Feng Shui, colour combining, food specialities, or Writing about Writing, there is a bevy of people hungry for this ‘insider’ information. Just use the keyword search tools, like Ubersuggest, to find the numbers of searches in your country.
Using a book is a great introduction tool for an expert, therapist, coach or chef! And it is even better when you introduce yourself as an author of a thought leader book, via LinkedIn. Once your book is in circulation, you can add ‘author’ to your headline on LinkedIn. I personally recommend you add in the subject keyword too. The other ways to utilise LinkedIn to get the word out is to post in targeted Groups which have members who are similar to your target audience, e.g. Entrepreneurs, CMOs, or Health experts. Boost your credibility by making an 'author' headline on your LinkedIn profileJennifer Lancaster So Many Public Ways to Market Yourself and Your Book You can’t beat national publicity for promoting books without spending any money. There is the obvious plant of a free audio download or calculator inside the book, to capture reader email addresses. In addition to reaching new customers through the book-freebie connection, and possibly…
To make a lot of money in book publishing for a niche market, then you will need to understand how to reach people with online publishing too. If you are a known personality, great—build on that, but if you are building a name-brand business or charity, then your brand is your business. For instance, have you ever heard of a little business called Niche Media? Well, as an Australian niche magazine publisher, their brands include MacWorld, Marketing magazine, Idea, Inside (interior design), Architectural Review (AR), Mezzanine and Desktop. They have 10 million views on their sites and send 100,000 EDMs a week. They are a large publisher, but most of us start as an indie or micro publisher. What is the difference? An indie publisher publishes only their own books, whereas a micro publisher might publish a few different authors. For a while, Power of Words was a micro publisher (as a sole proprietor, so with a dose of risk).…
Before I get into how to write a book proposal, first a little story. When I started writing a very small book back in 2005, I had zero idea of how to mould a book, let alone how to get a publisher to take it on. I got a rejection letter, tout suite. This ignorance led me to self-publishing on Lulu, mainly in eBook form, which proved too easy. Enjoying research, I soon wrote another how-to book, Sack Your Financial Planner. Self-funding, I sold these through a sales page online plus a few sales to interested people. My longwinded point is, there's a possibility your first nonfiction book proposal will get a book deal. That chance is about 1 in 1,000... and sliding. That young man got a deal for Eragon first go, but that was fiction and what a talent! Self-help is such a hunting ground, with fewer sales made traditionally, so most likely as a novice author you have…