Do you have a book inside you? Getting it onto the page could help you to grow your business and even build new revenue streams. According to a recent survey by RainToday.com, publishing a book helps professional service providers attract more clients, charge higher fees and get more speaking engagements.
The 200 professionals surveyed reported a wide range of results from publishing, but one thing is clear: The indirect revenues from publishing outdistanced the direct revenues. The median revenue from book sales was $34,000; however, the indirect revenue (including new business, speaking engagements, etc.) was $100,000.
Think you can not write a book because you are not an expert? Think again. Writing a book makes you an expert. You have specialized information about your industry that would benefit others. That is what goes into your book and shows you are an expert.
You can seek a traditional publisher, who will pay you a royalty based on sales. You may need an agent, and you will have little control over how your book looks and when it is published. However, if you are published by a major publisher, you also get the prestige of being associated with them.
If you choose to self-publish, you are responsible for all aspects of publishing, including design, printing and distribution. That does not mean that you do all of those things, but you have to make sure they get done, and pay for them. Of course, that also means that you have complete control of the process and can usually have the finished book much sooner than through traditional publishing.
Although you take a financial risk with self-publishing, the rewards may be greater. And if you wish to use your book as a promotional tool, your unit cost will be less than if you have to buy from a publisher. In fact, a book can cost about the same amount as you currently spend on a flashy brochure. And which do you think the client is most likely to keep: A sales brochure, or a personally autographed book?
There is another method of publishing. Subsidy publishing means paying a publisher to publish your book. It is a poor choice for a book you hope to sell profitably or use as a promotional tool. Costs are high and quality is often low.
No matter how you publish, you are responsible for marketing. In fact, many publishing houses look for authors who already have a “platform,” such as a newspaper column, regular speaking engagements or a large e-mail list they can use to promote the book. If you want your book to sell, expect to spend some time and money on marketing.
Your book has marketing benefits that go beyond any profit you may make from sales of the book itself. A book is a credential you can use to market yourself. Use it to get speaking engagements and publicity. Send a book to a potential client and it will open doors for you.
If you want to enhance your reputation and take your business to the next level, a book could be just the ticket.
Copyright Cathy Stucker. As the Idea Lady, Cathy Stucker helps entrepreneurs and professionals attract customers and make themselves famous. Sign up for her free marketing tips at http://www.IdeaLady.com/