Can You Make Money Writing A Book? Top Full Guide 2022 - PDFDrive - PDF Drive is search and download PDF files free!

With the advent of self-publishing and e-books, it has never been easier to write and sell a book. But Can You Make Money Writing A Book? Yes, but it takes more than just writing a great book. You need to market your book effectively and get it into the hands of readers who will buy it. If you can do that, you can make money writing a book. Keep reading this article to know what things you can do to make money from writing a book.

Is Writing a Book Worth It?

Traditional publishing is where the author receives royalties and an advance. An advance is a money that a publisher promises to an author in return for a book.

He usually receives half of the passage and the remainder when the book is finished. An advance is a money a publisher gives to an author before a book is released.

Authors who are bestsellers or have a high likelihood of being a bestseller usually receive advances. If you’re writing your first business book, you can expect to get an advance of $ 4,000-$ 10,000.

How To Make Money With Books

1. Consulting Services

Scribe’s most considerable client base consists of consultants. A book is the only way to help them reach their goals. A book makes a consultant more authoritative and increases their visibility in the marketplace.

This was the predicament of Ashley Welch and Justin Jones. Their sales consulting company, Somersault Innovations, had reached a high level, but they weren’t standing out until they published their book. They were invited to speak at Dreamforce and signed AT&T as their client.

Kirk Drake was the founder of a successful consulting company that helped credit unions market and sold more effectively.

Although he was doing well, it was only after his book was published that he could command six-figure fees to help credit unions market and sell better.

Joe Mechlinkski used two of his bestselling books, Shift the Work and Grow Regardless, to sign large Fortune 500 clients and was named the EY Entrepreneur Of The Year.

A book is the best marketing a consultant can do.

2. Paid Speaking

Speaking engagements are one of the best ways to make money with a book.

It isn’t easy to be a paid professional speaker without a book. Although some people have begun speaking careers without books, most experienced speakers eventually publish books. The fee they can charge for a book is usually three times that of a book.

John Ruhlin is an excellent example. Although he was a highly successful corporate gifting expert, he could only charge $5K per engagement. He wrote Giftology and regularly books keynotes at $30K or more.

Because a book is a credential that a speaker can use, it is a fundamental necessity. It is how people can be sure that you are qualified to address their group about your topic.

Kevin Kruse is another example. His blog, “An Authorpreneur’s First $100K”, details how he made his first year as a writer. He made $170K from speaking fees, while he sold $70K books.

3. Professional Service (Medical and Financial)

A book can be used to build your authority in your area of service and then attract new clients.

Most people don’t know how to choose a doctor, a financial advisor, or another professional service. They don’t know what skills to use, what to avoid and how to approach the service.

A book can help you establish your authority and show others what it would be like working with you. It is a great way to educate your clients about what to expect and makes your job much easier.

Dr. Michael Lewis is a specialist in traumatic brain injuries. His book, When Brains Collide, is a beautiful introduction to traumatic brain injuries and how to treat them. His practice has increased by more than 30 percent since then.

Sam Marrella witnessed something very similar happen at his financial planning company. He received a slew of speaking requests and media attention after writing his book.

His assets under management increased by two-thirds. Financial planners are used to this as it is a common occurrence.

4. Coaching Services

People have trouble identifying you from other coaches if you’re a coach. Find out what makes you an expert and why you should be working with them.

A book is a great way to show your expertise and describe your relationship with them.

Ben Bergeron is a great example. Ben Bergeron is a great Crossfit coach, but he was not well-known. He wrote a book on coaching the best Crossfitters, but he was not famous.

This isn’t just for athletes and coaches. Cameron Herold is an example. Cameron Herold is a world-renowned CEO coach and has clients such as Sprint’s CEO. He put everything he knew about running and scaling companies into four books.

5. Your Agency Needs Clients

Agency owners know how difficult it can be to acquire clients. Although a book won’t solve the problem for you, it can make finding and closing new clients easier.

Deb Gabor faced this problem with her branding agency. She used a book to solve the problem and propel her agency to new heights. Her agency is now a partner with companies such as Dell, NBC, and Microsoft.

Melissa Gonzalez did the same thing with her pop-up retail agency. Her book contained all she knew about pop-up retail, and her business grew by two-thirds in just two years. It was also why Melissa was hired by major retailers, including Macy’s and Chanel.

6. Sell a Physical Product

Amazon searches for books about “lose weight” and “eat paleo”. You’ll find thousands of readers. Many of these books are buyers’ guides to physical products, such as supplements, food companies, or one-off items.

Mark Sisson is a great name in this field. He founded Primal Blueprint and has published almost a dozen books on his paleo diet. These books are great. They are available on Amazon, and he gives them away many times.

They not only help people eat well, but Mark also offers a complete line of Primal Blueprint food and supplements that can be purchased.

These products are not required to be bought, but they are available and easy to find. The books and products also work well together.

Consider this: Would you answer an advertisement about supplements? Most likely not.

How about a book that tells you which supplements to take and when. You will trust the book and the supplement recommendations if you trust them.

Mark is an excellent authority on food and has excellent books that you can trust. This gives his recommendations for supplements more credibility.

7. Paid Community/Mastermind Groups

Many people have joined mastermind groups that they paid for. Many of their clients are interested in joining because they have written books that share their knowledge and the benefits they offer.

James Maskell is the founder of the Evolution of Medicine Summit, a mastermind group that brings together tens of thousands of professionals in health to discuss and debate topics. His book, The Evolution of Medicine, has helped him find new members and recruit them.

Ari Meisel is the leader of Less Doing Mastermind Group. His books are a popular way for clients to learn more about him and his group.

8. Freelance Clients

Writing a book is easy for freelancers. The problem is that once you start writing a book, your schedule becomes so full that you don’t have the time to do it all.

David Kadavy was precisely like this. Design for Hackers was his book. It was written for a niche audience and ended up crushing him.

He was overwhelmed with design work. He was overwhelmed with design work and had to start an agency. He also hired someone to manage it.

Writing a book about your skills and being a freelancer can indefinitely help you get clients.

Consider: If I am looking for freelancers, I don’t know how to choose one, what to look for, or how to make a decision.

9. Workshops and Group Teaching

Many speakers and consultants also speak. A company brings them in to train their employees over a single day or several days. It is possible to get larger companies to pay you to train their employees in a 1-day workshop.

Employers know that employees won’t read books if they give out books. They can still teach the material if the author comes in and gives a presentation.

Mona Patel, who wrote Reframe and holds workshops based on the principles she outlines in her book, now has workshops.

Both the workshops and the book sell out quickly and complement each other. She leads people to her workshop and sells copies to those who attend.

10. Raise Money from Investors

It is challenging to raise funds for projects from investors. They want to get to know you because they trust you with their assets. They will be much more inclined to give you their hard-earned money if they get to know you.

This was a revelation for Jorge Newbery. After a real estate investor career, he had to overcome his difficulties and then regain his success. But he could not get investors to see this. He wrote Burn Zones, a book that chronicled his experiences.

Jorge is now facing the challenge of raising too much money after it was so successful. This is a problem that all entrepreneurs wish they could solve.

11. Recruit People to Work for Your Company

This is only for business owners or high-ranking executives. However, for them, there is no better way to get people to work with your company than to write a book detailing your vision.

Stephan Aarstol used The Five-Hour Workday, his book, to outline his vision for a new way for companies to work. His idea resonated with people, and he received a lot of attention.

He received an overwhelming number of applications. He received thousands of applications to work with him.

Jeff Kavanaugh’s book Consulting Essentials is another excellent example. Jeff Kavanaugh is a partner in Infosys, a large consulting company, and an adjunct professor at the University of Texas.

Jeff wrote this book to help his students understand the role of consultants and how they do it. It has attracted hundreds of highly qualified applicants to his company.

12. Promote “Done for You” Services

Bob Glazer runs a great company that assists big brands with affiliate marketing. However, this cannot be easy to communicate.

He decided to write a book about his ideas. In less than one year, he had signed up for dozens of major brands and increased his company’s size to more than 100 employees.

Phillip Stutts was the same. Phillip Stutts runs a digital marketing agency that assists politicians in their digital marketing. His strategies work well for businesses.

He wrote a book on how marketing companies fail their clients and how companies can audit them to improve results. What happened? His corporate business grew more than twice in one year.

13. Sell a Video Course/Information Product

If you have a book that teaches something with a high return on investment, you can make a video course. You will charge more for it and sell the book to promote that course.

One of the most significant benefits of this is that, while people won’t pay more than $25 for a book, they can often pay $500 for a video course with the same material.

This is logical, as many people can learn more from audio and video materials than from books.

Connect by Josh Turner was a bestseller in Wall Street Journal. His book is about using LinkedIn to drive sales for your company. Many people can access his advanced video course because it’s very well written.

Jason Fladlien also did the same. He offers the best webinar training and video courses online. He also used his book to generate leads that would lead to millions of dollars for his studies.

14. Selling a SaaS/Software Product

A book can be a great way to market software, especially SaaS software.

HubSpot is the best example of inbound marketing, invented by this company. How did they promote it? They also wrote Inbound Marketing, a book.

HubSpot is not heavily promoted in the book. Instead, it is a massive advertisement for their marketing method (inbound marketing).

Their software makes it easy to do inbound marketing. The book provides real value to the reader and converts many readers into customers.

Mark Organ is another example. Influitive, Mark Organ’s company helps brands and companies harness the power of their fans to create new “advocate advertising” channels.

Although the software they developed to facilitate this is potent, it can often take a while to grasp how advocacy marketing works fully. To explain it, Mark wrote The Messenger is The Message, which has seen remarkable growth.

15. Change Careers

Even if your goal is to start a business or be an entrepreneur, a book can significantly impact your career.

Simon Dudley did the same with his book, The End of Certainty.

Although he was an influential figure in video teleconferencing, technological advances made it difficult for him to believe in the field. He thought they would be disrupted and didn’t believe companies would change.

He wanted to get out of video teleconferencing, so he wrote a book on his theories about technological change and how to adapt without mentioning teleconferencing.

He could then go to other businesses and pitch them by saying, “Listen, my exact understanding of how you are being disrupted.” I can help you.”

He founded Excession Events and is now a successful consultant in technological change. He created a new profession.

The greatest irony is that no one in the teleconferencing industry listened to him before writing the book. He wrote it, and although he didn’t mention teleconferencing in his book, the parallels are apparent: half of his consulting business is made of firms in the teleconferencing industry that wouldn’t hire him.

Jeb White is doing precisely the same thing. He was a successful lawyer, but it didn’t suit him anymore. He wanted to change his profession. He wrote a book about helping underprivileged children get into top schools.

This book helped him earn six figures per year as a college consultant and allowed him to quit his law job.

16. Receive Investing Opportunities and Be Asked to Join Boards

Cliff Lerner’s book Explosive Growth is worth reading. Cliff Lerner was one of the first growth hackers. He transformed his small dating business into the fastest-growing public company a decade earlier.

Although he wanted to coach startups and did so, it was not until his book that people realized how brilliant he was and how much they could benefit from him.

He wrote a book about how he did it. He was soon asked to join companies’ boards or invest in startups. This was precisely what he wanted.

Jonathan Siegel experienced almost the same thing. He was looking to invest after selling and starting nearly a dozen software businesses. He wrote a book that detailed all the evil and wrong information to assist new founders.

He now has his pick of companies and investments to assist him.

17. Promote a Conference or Facility

Kentucky Entrepreneur Hall of Fame founders wanted more attention to their cause, so they wrote Unbridled Spirit. It is a book about the many Kentuckians who have started great businesses.

The book was a success. Contributions doubled and media attention almost 10x increased.

Conferences can use books as a marketing tool. The LDV Summit is a conference about vision technology. It pairs venture capitalists with thought leaders to create a book.

The conference host then does two things.

Evan Nielsen, the conference owner, sends copies to potential entrepreneurs and LPs. He also gets all the benefits of writing a book but doesn’t have to register it.

He includes a copy when he sends out physical applications for each conference. He has seen a threefold increase in his re-up rates.
He spends $5 to mail a book to his past participants and gets them to spend $500+ at a conference that is over six months away. This is a great deal.

18. Attract High Net Worth Clients

You know the struggles of high net worth individuals if you’re in the business selling to them. A great book can make this job more manageable.

Alex Andrawes is an example of a high-end broker who helps people invest in fine wine. Before writing his book about investing in fine wine, he was successful. But after publishing his book on investing with fine wines, he doubled his leads and tripled the net worth of his clients in a matter of a year.

Nik Tarascio is the owner of an airplane brokerage company. He realized that not many people could afford an airplane and used his book to help them both find and close buyers.

19. Write-Offs and Taxes

This is a counterintuitive method to make money from your book, which few business owners utilize. It can be used in addition to any other strategies.

The out-of-pocket costs of producing a book are 100% deductible if you use it as a marketing tool to promote your business. This means that you can deduct all costs associated with creating the book.

book cover design
layout design
All printing costs
Editing and proofreading
It may be created by any professional services that you employ
etc., etc., etc.

All expenses are 100% deductible. A book is the same as website designers and Facebook ads.

20. Book Sales

I mentioned earlier that book sales were not the best way of making money. They can earn you money, but I didn’t say that.

There are many ways to increase book sales once you have a book that appeals specifically to a specific audience.

Many Facebook ads convert to book sales.

You can offer free items as part of bundled promotions to encourage people to purchase books.

Live sales can be made at events if you are a speaker.

Book interest can also be attracted by guest posts highlighting critical lessons from the book.

Because it is not worthwhile for most authors to discuss how to implement these things directly, I won’t be spending much time on that.

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Can You Make Money Writing A Book? Conclusion

While you can make money writing a book, it is not a guarantee. Many factors go into whether or not a book is booming, and it is essential to be realistic about the potential earnings. If you are looking to make a significant amount of money from writing a book, it is necessary to have a plan and a platform to market the book. Pdfdrive hopes that our guide was helpful to you.