Writing a book can be one of the more lucrative ventures you absolutely should undertake. You have the opportunity to turn your expertise and experience into substantial income. If you are an entrepreneur, there really is no downside to writing a book about your zone of genius.
Writing
Writing your book doesn’t start with writing your book. First, you need to have an ideal reader in mind. Then, you need to know how your solution is the answer to their problem.
Focus on how your knowledge of your topic resonates with your target audience. By sharing your command of the subject plus personal stories, you create the opportunity to connect with your reader.
Now you can start writing. Begin with a first word, then a sentence, and now a paragraph. Keep going!
Editing
Editing is the most critical and the most expensive step of your publishing journey and for good reason.
Your editor will catch grammatical and punctuation errors, understands sentence structure, and ensure consistency and congruency. Your editor makes sure your book meets industry standards and appeals to readers.
Publishing
After editing concludes, you move into publishing, and you have a choice: traditional or self publishing. There are pros and cons for each.
Should you choose the traditional route, you need an agent who will shop your book to various publishers. There are significant benefits of having a publishing house’s support, such as carrying the cost of printing copies of your book and distribution on your behalf.
Self-publishing, on the other hand, offers more control and higher royalties, but can require a substantial investment up front if you want to host book signing events and/or throw a launch party where attendees can buy copies of your book.
Fun fact: Fewer than 40% of traditionally published authors are women or female-identifying while self-publishing features nearly 70% women or female-identifying authors.
Marketing
No matter if you choose traditional or self publishing, the lion’s share of the marketing sits squarely on your shoulders and is how you’ll sell your book.
As Most of us already have an online presence, and you’ll want to put yours to work like never before. Build a website, leverage social media, use your business’s email list, create collaborations and partnerships with brands in your same lane, and network both in person and online.
You should also collect reviews and testimonials from those who read your book prior to release and customers you’ve helped through your business (as long as the book is in alignment, of course). There is real power in this level of engagement.
Public Relations
Do not dismiss the power of proximity. I’m talking to service-based businesses, especially, who operate primarily online. We may serve clients who live on each coast and every point in between, but our next best client could be just across town.
Reach out to you local TV stations, newspapers, and magazines. Send them a press release about your brand story, offer yourself as a subject matter expert about a current event, and, most importantly, send them a photo and/or a video with your release.
Local reporters and busy and appreciate good content with news their viewers and readers can use.
Monetization
Your book opens the door to unlimited earning potential. In addition to royalties from book sales, you can command larger speaking fees, you can offer coaching and courses, you can leverage it as a business card for your personal and professional brands.
Once you become a published author, you are considered an expert. This enhances your credibility and leads to consulting roles and/or higher-level job opportunities.
Final thoughts
Your well-executed book has the potential to significantly boost your profile and your income. Enrolling in a writing program, paying for an editor, and publishing your book is an investment in your personal and professional brands and a stepping stone to diverse revenue streams.
If you’re ready to write your book, please schedule a call.