My First Book Income Report and Lessons Learned

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  • 1. I wrote the Digital Marketing Handbook to help other entrepreneurs learn a step by step process for how to attract clients using digital marketing. And while I know a lot about digital marketing, at the beginning I knew very little about creating and marketing a book. Here's what I learned.
  • 2. Why I wrote my book How I wrote my book How I promoted my book Why I self published How tiered pricing played a huge role How much money has the book made for me so far?
  • 3. Why I wrote my book
  • 4. I learned from Nathan Barry that self-publishing a book, if done correctly, can actually be quite profitable
  • 5. Launching a new product can be very rewarding, both in terms of list building and cash flow
  • 6. I wanted to see if I could create a high quality product that would actually help people to have more success with their online marketing
  • 7. Makes for a pretty nice business card for potential consulting clients
  • 8. Accomplished something that I’d always talked about doing
  • 9. How I wrote my book
  • 10. Before I started to write, I did a brain dump and just listed out the bullet points of everything that I thought I needed to cover in the book.
  • 11. Once I had this list of raw ideas, I then went through them again and tried to organize them into chapters. Once that was done, it was time to write.
  • 12. I use a slick program called Dragon Naturally Speaking and rather than type out the entire book, I used Dragon to dictate a large portion of it.
  • 13. To manage all the text, I used an application called Scrivener
  • 14. Once I had the first draft of the manuscript (about 50,000 words), the project was handed over to an editor that we hired. Her job was to take my raw ideas and polish them into something that would be enjoyable to read. This cost us about $1,250.
  • 15. How I promoted my book
  • 16. Internal Promotion - blog posts and emails to our list
  • 17. External Promotion - recruiting other people to help us spread the word about the book
  • 18. Why I self published
  • 19. First: -based upon Nathan’s success with self publishing, I was pretty sure that I could achieve a similar result and reap the financial rewards for doing so.
  • 20. Second: -I didn’t want to wait for a year for my book to be published, as is usually the case with the traditional publisher route.
  • 21. Third: -I wanted to be able to give away as many free copies as I wanted, whenever I wanted, as doing so was going to play a huge role in my promotional strategy.
  • 22. How tiered pricing played a huge role
  • 23. Why does tiered pricing work so well? While I’m no psychologist, my guess is that there are plenty of people who, if given a premium offering, will choose that offering. If you don’t use tiered pricing, these folks can’t choose the premium offering and you will end up leaving plenty of money on the table.
  • 24. How much money has the book made me so far?
  • 25. In first 10 days that the book was on sale, we generated $17,321 in gross revenue. Included in this time frame was one additional webinar with an affiliate partner and that webinar contributed about $5,200 of the $17,321 so 50% of that (or, $2,600) was paid to him in commissions. We paid our designer $125 to create a book cover, and traded services with our website guru for the book sales page (which otherwise would have been $1000). Other than those costs and the $1,250 we spent on editing, it was all profit (so that’s $13,346 in profit).
  • 26. Lessons learned…
  • 27. Writing a book isn’t as hard as I thought – the key is to get started, develop a writing plan, and stick with it
  • 28. Using Dragon’s Naturally Speaking software and Scrivener will save you a lot of time
  • 29. If you want to publish a book in a short period of time and make good money doing it, self publish and use tiered pricing
  • 30. Editing the book will take longer than writing it
  • 31. Be sure your promotional plan includes both internal and external promotion
  • 32. External promotion accounted for 55% of our sales (this was a surprise)
  • 33. Be sure that even if your book doesn’t sell a lot of copies, that you can still realize a benefit from writing it
  • 34. Creating products high quality products is key to increasing passive income
  • 35. To check out a free chapter of my book, visit http://brightideas.co/book