Many authors consider their book to be their business card. For example, when they go to a conference, they hand out their book in place of a business card. But, maybe that isn’t the best use of your book…
And certainly, a book is far more impressive than a business card. After all, what do we do with business cards a few weeks (or days) after we get them? We look at it, try to recall where we got it or why we have it, and then throw it out.
With a book, people are likely to feel warm and fuzzy when you hand it to them (“Oh wow, a free book!”) but then they get home, throw it on a pile of unread books and forget about it.
Yes, that’s right. Maybe using your book as your calling card isn’t your best option.
“But wait, I don’t hand mine out, I sell them on Amazon.”
This is a better alternative for a couple of reasons.
First, you are making some sort of profit on each sale.
Second, inside the book you are asking the reader to join your list (you are doing this, right??)
And third, having a book on Amazon gives you a slightly higher dose of credibility than simply keeping a box of them in your garage. This is especially true if you have lots of good reviews for your book.
But still, there are better options for what to do with YOUR book.
One caveat: If you haven’t yet written a book, you might want to consider it, especially once you’ve learned the techniques for monetizing a book that I’m about to share with you.
So, you have a great book and you want to put it to work to build your book into a Speaking and Coaching Empires.
Here’s turn your book into 13 different income streams…
#1: Audio Books
Audio is the fastest growing publishing platform on earth, because everyone has a cell phone with them nearly all day long, and they can listen to your book on their phone.
People can listen to your book while doing a variety of things, like running, cycling, doing the dishes or cleaning the house.
Audio books are being consumed at an unprecedented level. And you can make a ton of money with audio books right now – here’s how:
Have you ever seen the “Audible, Free 30-Day Trial?” Let’s say you send out an email to your list, or your post on social media, letting your readers know that you’ve just released your audio book.
If they click your ‘bounty link’ that leads them to sign up for the free 30-day trial, and if they stay an Audible subscriber for 61 days, you will make $75.
That’s right. Maybe your audiobook sells for $20, but you will be paid $75 because they continued as an Audible subscriber.
And don’t forget to make an offer on your audio book to get people onto your list. For example, “If you enjoyed this book, head over to URL.com/free to get another audio book (or video, or whatever) for free.”
Send them to a squeeze page to get their email address, or send them to the content, but hold back the second half of the content to get their email address. Test to see which method converts the best for you.
Amazon is the third largest search engine in the world (you can guess the other two – Google and YouTube.) People on Google are searching for free information. People on YouTube are hunting for ‘how to do’ something. And very important – people on Amazon are looking to spend money now.
Amazon will pay you 70% royalties for your book. If 70% doesn’t sound like a lot, keep in mind that traditional publishers pay 10-14%, max.
Convert your eBook into Mobi and ePub formats. Mobi is for Amazon Kindle, and ePub is for iTunes, via iBooks, as well as Nook readers.
#3: Hardcover books
For the maximum boost to your credibility, and to appear as the ultimate authority, publish your book in hardcover.
If you place two books side by side – one softcover and one hardcover – the hardcover is simply more impressive. It looks more impressive, sounds more impressive if you thump it, feels more impressive and has an actual dust jacket. And yes, I know this might sound silly.
After all, the only difference is the format, softcover versus hardcover. But a hardcover is simply more impressive all around, so why fight it?
Publishers give paperback deals to unproven authors because it’s easier and less risk for them.
If you do any speaking at all, or plan to, you must have a hardcover book. It will win you speaking gigs over other speakers who have no book, or even just a softcover. Crazy but true. Hardcovers influence and wow people, regardless of the contents.
#4: Softcover books
After everything we just said about hardcovers, you might think we’re opposed to softcovers. Not at all. Many people want to purchase the lower cost version of your book and that’s fine.
Just remember when you’re using your book to get a speaking engagement, land a big client or otherwise impress someone, always go with hardcover.
If you have a non-fiction book, there’s a good chance you can do a mastermind around your book. Create a private Facebook Group. If your book has 12 chapters, do a 12-month deep dive into your book.
Schedule one 90-minute Zoom call per month, with three segments. The first segment is all about the first chapter in the book. The next 30 minutes is taking a hot seat with one of the members and how the material relates to what he’s doing right now. The entire group coaches him. The last 30 minutes is when everyone in the group says what they will accomplish in the next 30 days. Then you meet once, in person. Everyone comes to your city, and you can charge $1,000 for this, or even a lot more.
Some people will just want to do the Facebook Group, and a subset of those will also want to meet in person. Or you could make it mandatory that everyone does both. It’s up to you.
People are paying for access to you, as well as access to the other people in the group. This means that while you need to plan out what you’re doing and give tremendous value, it also means that it’s not just about you. It’s about everyone in the group networking with each other, too.
#6: Self-Study Online Programs
This can be priced low or high, and sold either for a one-time price or for a monthly subscription.
You can record everything on your cell phone or invest some money for a camera and lights.
Use your book as your outline, and go through it chapter by chapter, adding information not in the book, giving examples, handing out assignments to implement the information, and add anything else you want.
And just like your book, you create it once and you get paid for it over and over again.
You can put your course on a site like Teachable if you don’t want to place it on your own site, making it even easier.
You can have a self-study course on almost anything. And if you add a community to your course, where students can interact with each other and you come on from time to time to answer questions, the value (and the corresponding price) increases.
#7: Live Coaching Programs
If you’re making an online course, why not do a live one and record it? People will pay more for a live coaching program. Be sure to highlight your students’ progress in the course, too.
It isn’t necessary to be an expert like Tony Robbins. You are the guide who tells people that you struggled, too, but you found a way to accomplish this thing that you are teaching.
Or you can even be in the struggling stage, where you are at an equal level with the reader, but you are reporting on the methods that are working for others.
#8. Certification Program
Certify others to teach your program. Do you want to be well-known? Allow other speakers, coaches and trainers to teach your content.
They pay you for all your information, slides, handouts, knowledge and so forth, and then they are certified to go out and teach your course themselves. It is still done under your name, and you are still selling your books and other products to these students.
Your trainers are bringing your name and information to people all over the world who you otherwise would never have reached in your lifetime.
And you can charge them a fee ($1,000, perhaps?) for each course that you have created. They can be certified to teach multiple courses.
#9. Paid Masterclass
You can charge a small fee, like $97 or less, to teach your techniques live on a webinar. This works amazingly well if people want the information you have.
Be sure to give them lifetime access in case they can’t make it to the live version or want to watch it again.
#10. Speaking Gigs
You can do a talk based on your book and get paid for it. Some authors are getting $15,000 per speech. The better known your book is, or the better known you are, the more you can charge.
You can also make money doing free speaking gigs if you are allowed to promote your courses and products.
#11. Live Events
This is the old hotel room seminar, where you either charge people or talk for free and then sell your course. Remember, when you give away free stuff, the people think, “Wow, if this is the free stuff, how good is the paid stuff?”
If you’re doing this alone, it’s a seminar. If you’re one of several speakers, then it’s a conference, but they work the same way. You get in front of people, give out great content, and upsell them to your paid versions. Or you charge a good price for the seminar or conference, and then include your course or product for that one price.
As an author, if your topic is a good fit, you can get hired to consult with companies and entrepreneurs. You’ve probably seen an offer in the back of business books, made by the author, to do consulting.
Once you’ve built up a name and have a large following, you can make money podcasting without even promoting your own products.
How? By selling sponsorships. If you have a large, attentive audience, sponsors will line up to be featured on your podcast. And of course, getting your name out with the podcasts can also increase the sales of your own products as well.
For example, when you interview expert John Smith, and he tells his readers that he’s on your podcast, he is now sending you traffic and potentially new subscribers and customers. In addition, if you interview experts who have their own products to sell, you can act as their affiliate and give out your affiliate link on the show.
You can see why podcasting is a win-win-win all the way around.
And don’t forget, you can be the guest, too. You can go on someone else’s podcast and promote your book or course.
What is your favorite income stream?
My favorite one is 1-1 coaching and group coaching with a Mastermind component. That way I can spend 1-1 time with my clients and also offer the value only a group can offer.
I’d love to hear how your use your book to boost your business!
It may seem illogical but your busiest time is the best time to improve your business. When your business is too busy, you are often at your breaking point. Things start to go wrong. You have shipping errors, order errors, billing errors, power outages, computer failures, and missed calls. You lose customers and vendors; everything seems to go wrong.
As CIO for a $53 million logistics company, it was critical that our system be available 24/7/365 days a year. One of the system administrators accidentally overwrote a segment of a file system while investigating a slow file backup process. Within a few hours, database corruption brought a critical service in our business to a grinding halt!
The failure crippled our business for three-days until we finally found a good backup and restored the database to operation. It was a hairy, embarrassing situation. When the crisis was over, we reviewed our notes and made plans to avoid this kind of failure in the future. Because we were paying attention and made note of failures as they occurred we identified problems with our processes that we would have never discovered if we did a mental walk-through.
I know what you are probably thinking, as a small business owner you are working 50, 60, 70, 80 hours a week. You family hardly knows you and you haven’t seen the light of day for weeks. It seems impossible to fit another task into your overflowing task list. However, your busiest times are also the best times to identify and make plans to correct the gaps in your services and capabilities often caused by…
Common Causes of Service Failures in Small Business
- Lack of resources
- Inefficient processes
- Lack of standard policies and procedures
- Poor training and poor planning
- Lack of essential automated systems
Three Ways to Improve Your Business During Your Busy Season
- Stop, drop and roll. Do not panic! Every business goes through growing pains, take time to pause and calm your nerves, take a step back and let go of the panic.
- Be observant. Pay attention to what is going wrong and take notes.
- Make a list of what breaks during peak times.
- What suffers most in times of peak activity in your business; Billing, sales, customer service, order processing, shipping, receiving, purchasing?
- What are possible solutions
- Resolve to make corrections. Again, every small business has growing pains. If you ever want to become a large business, you MUST resolve to improve your business operations and create repeatable and automated systems to handle increases in business. if you don’t do this you will never get past that peak season and you WILL lose clients and possibly, in the event of a critical failure, you will go out of business.
Three Ways to Put These Ideas into Action
- Pay attention to broken process, service failures, overtime, and customer complaints.
- Document what happened and note possible solutions WHILE THEY OCCUR or at least immediately after you put out the fire
- Resolve to solve the problem when things slow down and set aside time every week or month to review your list and prioritize the problem to work on next. Set business improvement goals as part of your regular goal setting and planning.
- BONUS: Start today!
What breaks when your business is stressed out and what have you done to avoid the problem in the future? I’d love to hear from you.
Keeping faithful and focused on your goals for growing your business is hard work. With the demands of owning and running a business day-to-day, eating right, getting the kids to soccer practice plus all the distractions of life; you get discouraged and you are tempted to put your goals on the back burner.
Setting smaller goals and milestones and celebrating their attainment can help turn your humungous goals into little victories that help you gain the momentum and develop a thirst for hitting the next goal. Let me explain how I learned this concept.
Lessons in Goals from the Cub Scouts
When my oldest son Jacob was young, he wanted to join the Cub Scouts. I was thrilled! I had been a cubby too when I was a boy but never got very far. All of those activities you had to do seem so overwhelming; I never got past Wolf Cub. It’s no wonder kids give up like I did. With Jacob, it was going to be different!
I got involved as a Den Leader for Jacob’s den and helped him through each step. The Cub Scouts have a wonderful program. Each meeting and activity is clearly laid out in a structure that makes it easy for leaders help move the scout along the path to achievement. My favorite part of the program is the concept of Progress Towards Ranks. The scouts recognize that boys need frequent recognition to keep them going, so they award them soon after each accomplishment.
Each month, during our Pack Meetings, we would recognize the small achievements made during the month. The attainment of each Rank was broken down into small, attainable chunks. We would award the scout with a small, colored bead that he could affix to his Cub Scout Totem, which he wore on his shirt as a badge of honor! Leaders and parents make a big deal out it and even do an award ceremony at each Pack meeting to recognize the boys.
I Never Got Past Wolf Cub But…
Jacob got through the entire Cub Scout program and attained the Arrow of Light! This award is the highest award a Cub Scout can achieve and is the only award one can carry on to the Boy Scouts. The Arrow of Light is the Cub Scout equivalent to the Eagle Scout in Boy Scouts! I am very proud of Jacob! So what was the difference between my success as a Cub Scout and Jacob’s?
Two Game-Changing Reasons Why I Failed and Jacob Did Not
- Jacob had an accountability partner who was interested in his success
- Jacob celebrated small successes along the way, at critical points along his five-year journey to the Arrow of Light achievement!
Everyone should have an accountability partner or a least an external system that helps him or her stay on track. I’ll save the reasons why it’s smart to have a coach for another day, today let’s focus on…
Seven Reasons to Celebrate Small Successes
- Makes us continually aware of our goals. When you celebrate small successes, you bring to mind the ultimate goal you are trying to achieve.
- Reminds us why we set goals and keeps us focused on their attainment.
- We appreciate what we have accomplished. This exercise in gratitude helps us to focus on what is important.
- Builds momentum and keeps us moving forward. The more small goals we accomplish, the closer we are to our ultimate goal!
- Celebration and ceremony is a great way to unify your team. Each team member rallies around the others as goals are completed. Sometimes healthy competition ensues that strengthens the team.
- Cures burnout and boredom. Let’s face it. All work and no play makes Paulie a dull boy! Celebration is fun! Putting a little fun into our work day makes it interesting and is a welcome interruption from the grind of hard work.
- It feels good. Achieving goals releases endorphins in your brain, which is a chemical reaction that promotes well-being. The well-being becomes addictive with repetition. It naturally makes you want o achieve and set more goals.
Whenever one of my coaching clients reaches a small goal I ask them; “How are you celebrating your success?” Some are surprised and don’t have an answer ready. I encourage them to reward themselves in small but significant ways to reinforce all their hard work. One of my clients recently had his biggest sale ever! Since his job caused him to be away from his growing family, I urged him to reward his family with a nice meal or outing to thank them for their support. His family was indeed grateful for his sacrifice.
How do you celebrate your small successes?
I’d love to hear your favorite way to celebrate you success, enter a comment below and let me know!
Recently a client called and was very frustrated because he was struggling with some web technology he was not familiar. He complained he had spent hours banging his head against the wall trying to figure out the technology. He is a brilliant marketer and implementer but frankly is not as brilliant when it comes to technology. He is stubborn, I have to admit he does the get the job done but he certainly could save himself from a lot of aggravation, simply by asking for help early before getting trapped in the frustration. The question is; “Are you willing to ask for help before you end up in the frustration zone?”
I wrote this article in response to his request and I helped him with the technology. When you are frustrated learning a new skill, struggling with technology, failing at implementing a new feature, goal or system into your business. You need a check-up from the neck-up! A lifeline… a reality check… a checklist to break the cycle. You are trying to get your new thing perfect! Repeatedly you try, fail, swear and repeat the process, getting more and more frustrated… You are about to give up, but you know you cannot. You need to break the ugly cycle, stop the frustration, stop driving your family and your dog crazy; but how? Here are…
Five Quick Tips to Break Free of the Technology Frustration Zone
Stop, drop and roll!
Seriously, chill out! Come back to it, take a break, change your approach, break the pattern of frustration and it will be much easier the next time around.
Phone a Friend!
If you are struggling with technology or learning new method or skill, call out to someone who can help, go to your online mastermind group, or Facebook group, or phone a friend and talk about your problem. Sometimes talking out your problem will present a solution, just by explaining it. The majority of tech support calls I make, the issue is solved just by clearly explaining the problem to the person on the other end.
You’re an entrepreneur for a reason; you want the freedom to live life pursuing your dreams. This should be a lot more fun than working for someone else. Have a little fun, don’t take things so seriously.
Be thankful for your obstacles. In fact, give thanks in all things. Giving thanks not only makes your problem seem smaller, it also puts it into perspective. You issue is likely not life threatening. You are probably way more upset and concerned about your problem than it warrants.
You are probably a little like me. You are a perfectionist. You want everything just so, everything in its place. When it comes to being an entrepreneur, you have to ship. If your video, whitepaper, ad, campaign, email or letter is pretty darn good … Good is good enough! SHIP IT! Get it out there! You can always tweak it later!
There you have some tips you can use the next time you are so wrapped up in a problem that seems bigger than it really is. Use these tips with caution; they just might make you more productive, effective and happy as an entrepreneur!