There’s never just one way to make money from your book. I know you spend time and energy carefully writing your book, getting it edited and ultimately published. But no matter how well edited, how nice, or how great the cover looks, if your topic doesn’t appeal to many people, you’ll likely have poor sales. If you’re going to be a published author, I want you to go above and beyond thinking about selling the book. The book is the base tool. There are so many other things you can do to maximize your book.

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What prompted this post? I was on another group and the response I gave to a young lady prompted me to come in here and give some advice to you about things you can do as an author. With all of the democratization of publishing and DIY tools out there, the bar to entry into self-publishing has lowered…dramatically. Hell, even I look back at some of my earlier books and kick myself for jumping on the DIY bandwagon. But since you’re Mogul Chix, that means I require you to dig deeper and do better. 

Every time someone gives advice to an author or publisher to “post on your blog and promote to all your friends on social media” I cringe. I mean it’s a start, but it’s not as simple as just promoting your books on social media, your blog, etc. It’s a business. No, really, publishing a book is a business and it doesn’t end when you hit the submit button on Amazon. I wrote an entire course on The Business of Self Publishing. It’s based on everything I learned during the process to make my book stand out. Would you like to know the big secret to why my last book continues to make me money? I treated it as a business and not just something I can sell.

If your books are on a topic that hits a pain point for your audience, you’ll be able to spin that book into a few different things that will make money. If people feel your book is no different than anyone else’s, or that your book is boring or poorly written, or it doesn’t answer a question or problem for them, they won’t buy it. You have to make sure there’s interest. Especially because it’s so easy for ANYONE to write a book these days, whether they’re good or not (have you seen some of those Amazon books?). I’m all for making it easier for authors to get their work out there. But come on. You’ve got to put the effort into it.

 
I’ll share my own examples of a few things I have done in the past. And listen, it does take some money. Don’t let anyone tell you you can publish your own book for free or next to nothing and make lots of sales. I mean, if you are a talented writer, meticulous editor and a fabulous graphic designer, sure! But the majority of writers are experts in their fields who have something to say and are concerned with getting their words out to the world. The real work comes AFTER the book is done. So if you don’t have a publisher who will actually WORK on your behalf, or a budget set aside, you need to find the money and stop trying to solely rely on “free”. I won’t get into tools and resources, just a few strategies.
 
No You Can't Pick My Brain | Adrienne Graham | Mogul ChixI wrote an article (No, You Can’t Pick My Brain) for Forbes a few years ago. It was not meant to be a book, but it was a topic that hit people straight in the heart. Truthfully, I was feeling some kind of way and went on a rant and submitted the article, then went about my business. It became a hit (actually hit is an understatement because I wrote that article in 2011 & it STILL makes the rounds on the internet). So I wrote a book based on that article. I put the book on sale. I got sales. The article was the lightening rod & got the most attention. So I update the article to include info about the book and also put a copy of that article on my own website. I added the book to Amazon, Barnes & Noble and a few other sites in addition to my own. I did not make a lot of money. I got a healthy amount of sales, but it hasn’t made me J.K. Rowlings rich. And chances are, neither will your book.
 
I took a step back and thought about how I could maximize this opportunity. I began studying what other authors were doing, and at that time Bethenny Frankel had a book out. I have to admit, I took a few lines from her playbook and set out on getting my book out there. I did a mini tour where I had small groups where I did Q&A from the book…I charged for that. I did a web based Q&A for those who couldn’t come out…I charged for that. I created a course based on the book…I charged for that. I created merchandise with key phrases from the book…I charged for those. I created a community (it was only up for one year)…I charged for that. I capped it off with offering private, specialized training for sales professionals & consultants based on the book…I charge A LOT for that.
 
There were other things I did to extend the life of my book and I learned a lot of other things that I still have not implemented, but will eventually. I now have my own blueprint on how to maximize revenue from my books as I continue to write. The crazy thing about it is writing isn’t my full time gig. I have a few companies and writing is something  I do when it moves me. So you see, writing a book is more than just sales. It’s a business strategy…for me. I get a check every month from book sales. But I’ve never sold enough books to rival what I made from spin off products/projects. There are so many other things to do, but these are the steps I took with that particular book.
If you’re going to use your books to make some seed money for your business, you’ve got work to do. Plus the books better be something people want and demand since there is so much competition out there. Hope this helps. Good luck to you. If you’re interested in extending the life of your book, check out The Business of Self-Publishing. It includes the workbook, templates and audio. Keep in mind, the course was written in 2012 so many of the tools and resources have changed. Plus there are a few new strategies that can be used and new video content. The updated version will be released in October 2017, and the revised edition will come with a price increase. So you can purchase it now at the current price and get the revised edition upgrade free, or you can simply pre-order the new edition and get it in October.

Til next time,
Adrienne Graham
Founder, Mogul Chix, LLC

 

Make My Book Make Me Money #MogulChixChat #WomenEntrepreneurs #FemaleFounders

 

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Adrienne Graham is the Founder of Mogul Chix, LLC (www.mogulchix.com), a global company and community for female founders and women entrepreneurs. She works with female-founded companies to grow, scale & making them investment ready. She is CEO of Empower Me! Corporation, a growth strategies consultancy for high growth companies. She provides Strategic Business Growth advisory services to companies with high growth potential to assist clients in creating processes and strategies to effectively scale, run, grow and position their business for success. Adrienne is an author, serial entrepreneur and avid techie dedicated to promoting inclusive diversity in the tech, VC and startup community. She is steadily building her empire one company at a time. She is also a Mentor for the Straight Shot Accelerator in Omaha, NE, which helps guide startups into successfully launched ventures.

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