Can a Book Boost Your Income?
Last week, I got the opportunity to hear an inspiring YouTuber and journalist share amazing content. It was information that I really needed to implement in order to make my business better. He fed me bite-sized pieces of information, and after that appetizer, I wanted to move on to the first course. After his presentation, I decided to further dive into his content by visiting his website. His content was invaluable, and I wanted more from him. As I visited his blog and read through his articles, I decided I would visit the site every day because the information was so helpful. I was just about to exit when something caught my eye. In the top corner of the page was an eye-catching promotion for his book that promised a desired solution for a problem I was facing. Instantly, I searched my Kindle and hit the ‘Buy-with-1-click’ button. Yay! I thought to myself. I absolutely love when a solution-oriented protocol is placed within a space I can access at any time.
The $12 was a small amount to pay, but the turnover as a result of the knowledge gained would be massive. It was more than a short article. It was less than 100 pages of detailed information I needed to excel in something I wanted to master. I needed this. I bought it. I’m beyond happy with the results gained. It was a fit for me, and I’m glad the author wrote it. Many don’t realize that gaining a client is a lot like a dinner date. In this case, the entrepreneur’s book was the first course, and I wanted more of what he had to offer. His book was highly effective, and I loved the results. Therefore, I decided that I’d be moving on to the second course. I’ll be purchasing one of his packages in order to gain even better results during my next project.
Is a book a fit for you and your business? Most entrepreneurs struggle with ways that they can expand their business and bring in more revenue. Whether your business is doing well or poorly, one might ask, “Can a book boost my income?” This is a question many clients have asked me in the past, and my answer is always the same: Absolutely! A book is an asset and a tool that can be used to bring in even more revenue. How much revenue your book brings in depends on, well, you. It is important to have a vision for your book even before it has been written. Mapping out a strategy that would enable your book to bring in more revenue is crucial. Place it on paper. You need to see your plan in order to work your plan.
Educate those looking for answers.
If you’re an authoritative leader in your industry, a book is a way you can educate others. Maybe you’re in the marketing industry and you’re an expert in gaining clients via LinkedIn. Perhaps a short guide that teaches this concept would be beneficial to your following. Not everyone likes to read, but the good news is that everyone loves results. If I’m provided with a short guide that shows me exactly how I can achieve the results that I anticipate, then I’m open to reading my way through it. Why? Because it will be worth it. If my $12 book investment will bring me a million-dollar return, then heck, I’m open to being guided through my dilemma with a book. If the market exists for your knowledge, place it in a book, and by all means, sell it to those who need it.
A book is a great licensing opportunity. I once met a lady whose skill was proposal writing. She wrote an excellent and well-communicated guide aimed at those who wanted to learn this skill. She taught proposal writing at her local university and made it a requirement that students purchase the book as a part of the course. She was able to negotiate her book as a part of the university’s and other colleges’ curriculum. Can corporations, schools, and churches use your book as a part of their system? Maybe you’re an expert on marriage and relationships. Perhaps you wrote a book that teaches startups how they can do their own accounting. Can this be negotiated as a part of a local community college’s business program? Is it possible that an expert in backyard farming can negotiate a book as a part of an agriculture course? What about a book on aquaponics or hydroponics? Can you find an institution who would be interested in teaching your material to their students?
Couple your book with coaching or other courses.
A book can also be paired with a course or coaching program to increase revenue and expand your platform. If you pair your book with a course, you’ll get an even higher return. If there is a market for it, go for it. Why not pair your book with a course or coaching program? A book justifies a higher price for your program. Whether you are going after one-on-one sales or corporate sales, you’ll find this strategy valuable. A famous YouTuber and an expert in budgeting created her own budgeting journal. Instead of purchasing another person’s budgeting and finance planner, her fans purchase the planner that she created. Because of this, she’ll get a higher return and full profit rather than the small percentage that affiliate marketing offers. I’m not attacking affiliate marketing because it is a great option, but wouldn’t the ideal option be to have your own products or services to sell?
Boost your portfolio.
A book is a great option to add to your portfolio and increase your bookings. It can be used as a tool to assist in landing more speaking engagements, workshops, and seminars. If you’re a best-selling author on a particular topic, it is likely you’ll be seriously considered when trying to land a booking to speak on that topic. Even beyond this, you’ll be able to sell your books after your engagements. Having a book can assist in gaining the booking for the event as well as in gaining book sales at those events. A book serves its purpose well when paired with a speaker or expert, especially when it can deliver on its promises.
So, can a book boost your income as an expert in your field? Will it give you another stream of income as it has for so many others? How far can you go with your book? How far can your business go using your book? A book is another stream of income, and it’s always comforting to have a form of passive income. I encourage you to command your craft and consider a book as an extension of that space. If you want to land more jobs, make more revenue, and do the work to gain licensing deals and corporate contracts, consider these four options.