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What’s the Secret to Making Wealth from Book Publishing?

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.

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How to Create a Publishing Business!

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). Traditional magazines need two things to happen:  good workers (staff/freelance writers) and high-paying advertisers (the…

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