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.
Think at the Business Level
If you want a prolific and successful publishing business of any genre, it takes thinking at the business level, rather than the writer level.
From my own life, when I thought at a ‘creator/book writer’ level, I focussed mainly on the quality of my book writing and the satisfaction it gave me. Great, but it’s no fun to be the world’s most awesome and best kept secret.
When I started to work on my Personal Development and business skills (attending University on Applied Business)… it became clear that I should be thinking larger. I should be thinking of finding an audience, capturing that audience, and building a brand.
A Brand is not Just Pictures and it’s Worth Gold
Many authors have built a ‘brand’ and cult-like following almost by accident. Take Hal Enrod of “The Miracle Morning”, who enthusiastically shared his life tips. It mushroomed, as he was standing for something many people could grasp. That verve for working on yourself in the morning that he discovered and then shared, was what OTHER people really wanted.
It was understandable.
It was something they could do.
And TMM was built on community. (The community even has its own website).
Some successful writer-publishers only need one book (regularly revised) to be successful for a decade. Others, like James Altucher, need or want a dozen or more. They enjoy the process of writing and delivering a great new book to their fan base.
Coming back to brand, I feel it is more that most top-level authors package a feeling and inspiration in their publishing brand. This visually could be displayed in two colours, an icon, like a butterfly, or a scripted gold font… but it also has brand values instilled.
Think about your brand values and what would appeal to your reader market. Creativity and making money seem to clash in people’s minds, as if the two are mutually exclusive, so I brought them together in my book title, ‘Creative Ways with Money’.
My book’s brand values are honesty, independence, and creative enterprise.
What Did I Learn from Writing My Book?
It was a learning experience writing the book, as I had to delve into the mind that got me into these financial messes and what others also fall into and why. I know that this will resonate with a good portion of the population: the vulnerable, mature adults who work hard and have already been bitten at least once by financial spruikers.
On the marketing side, I learnt that for a solo entrepreneur/author, it takes a lot of energy to keep doing new angles and content for marketing a book. Many side-shoots are taken, technical tools learnt, and often nothing back for all the work.
But then, occasionally a small light shines… a podcast entrepreneur recommends me to a podcast host on finance, a post I made on LinkedIn resonates, and friends rope me into talking on my book at a local business network.
SMALL THINGS Matter
When writing and launching a book, see every single action you take as a win. You might not see the results for some months, or in some cases not at all, but rest assured, the work and effort you put in today will one day grow your author brand into a burgeoning book publishing business.
It’s much like writing a blog like this one. I have done it before, so I know it takes a lot of time and effort to make a blog fairly popular (unless you really are James Altucher).
As an author-publisher, you need the faith of the deeply religious to just keep on, keeping on.
Now, to keep on writing and publishing to our audience!