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).
For the base of all this, a visual model is recommended in order for people to understand easily what your system stands for. Sometimes it’s not a visual tool; it could be a set of acronyms that are steps. (Renee Hasseldine says the ideal is 3 to 7 steps for an educate model.)
A worthy goal is both rewarding spiritually and will eventually repay your time and investment into learning and creating.
Rule 1: Any products added must make a gross profit of 30%
Look at your business model and see if you already have a gross profit. Any new product or package you offer must have this profit margin built in. It’s just good business!
Rule 2: Employ better branding and positioning, make 1-to-1 rare and lucrative, and add bonuses for packages or online programs.
Laser-focussed branding and positioning will help you attract higher-level people, so you can increase your value. Ensure all your content marketing material is speaking the same message to your niche segments (or one niche).
Rule 3: Add online systems that solve problems for selected people, rather than working more consulting hours
You can set up a sales system that starts from a low-cost buy (e.g. a book) and offer various up-sell products for more in-depth needs. You can do this with Samcart (link below).
Group training might be more effective profit-wise than even one-on-one coaching and you can still add the ‘personal touch’. Denise Duffield-Thomas does this very well, with her Money Mastery group events.
Rule 4: Break down the steps and make better Intellectual Property
Communicating of your key message — your IP that has the highest value — is often hard for the professional. So much to offer! Begin by breaking it down into simple steps or a visual model. This can really help to write the book / training program.
1. Create authority and credibility with a well-produced book and a clear message, thus attracting clients to you.
2. Add to that with an online course and an audiobook
3. Getting some friendly sales but not enough income? Add to that with a membership site or an upsell system. Try Samcart Basic to help sell, online. It’s $19US a month instead of the $99 a month mentioned on their website pricing page. I am not an affiliate.
Remembering your Purpose for Writing a Book
Along with this, it’s important to remember your purpose all the way through the process of book publishing. It’s no good spending all your time on your book and nothing on promoting it on your blog, in media interviews, in podcast guest spots, or other ways. Remember the 5 marketing things every day that Jack Canfield & M V Hansen did when promoting Chicken Soup for the Soul.
If you keep in mind the purpose of reaching your audience with your impassioned message… no doubt you will succeed.