Income Stream #8
Write and sell a book and create a passive stream of revenue and increase your credibility and visibility.

 

from coachville.com

 


Introduction
Writing and selling a book can bring in passive revenue as well as build credibility and visibility. An initial amount of effort is required to write the book and to create and implement the marketing strategy (if you're going the self publishing route). Books can be marketed on your website, or at local or national book stores and their websites.

Books may be published through a traditional publishing company, self published, or even printed on demand. Traditional publishers typically require a book proposal and take care of editing, marketing and promotion but also get a bigger percentage of the revenue generated. Self publishing allows greater control of the content and marketing campaign by the author, which the author also needs to subsidize. Print on demand has a smaller upfront charge than the printing of a self published book.

Real World Examples

Jim Donovan
jimdonovan.com | jim@jimdonovan.com

Hi, I'm Jim Donovan. I started out as an author and learned about coaching working with my first coach, back in 1995, when I was spinning my wheels trying (unsuccessfully) to sell my first book. Working with my coach gave me the focus I needed to go out and sell a lot of books. Over time, this led me further into coaching and I learned it was something I was doing without knowing it had a name. In addition to working with growing businesses, one of my coaching niches is helping aspiring authors and publishers who want to get their book into the marketplace and succeed with it. My belief is that any coach who does not have a book is not only leaving money on the table but limiting their opportunities to grow their coaching business. And missing out on a lot of fun too.

Having your name on a book does several things for you. For starters, you gain instant credibility as an authority in your field. After all, you "wrote the book." Perhaps more importantly, are the opportunities that come your way and the fun you have as an author. From my beginning as a self published author, I've had the pleasure of touching the lives of hundreds of thousands of people, seeing my books translated into several languages and being read throughout the world. I regularly receive thank you letters from people who are changing their lives because of something they've read in one of my books, and I enjoy a substantial passive income stream from books sales. I've been interviewed in print, on radio and television and have delivered seminars to people from every walk of life.

My books initially brought me in contact with the coaching profession and I've had the good fortune to have worked with some of the most incredible people in the world. My small publishing business has published several books by other coaches in addition to my own and continues to bring me exciting new experiences daily.

Do I feel your business will benefit by writing a book? You bet! It will open more doors than you ever imagined. If I call a radio show and say, "I'm the author of 'Reclaim Your Life' and feel your audience will be interested in hearing me," I get the booking. Without a book, you're just another person looking to get publicity. Is it difficult? Not at all, IF you know the process. That's how I got to be "The Book Coach."

Gina Harris - author of a life coaching book
www.accesscoaching.co.uk | info@accesscoaching.co.uk

Hi, I'm Gina Harris and I've written a book called 'Life Coaching: Connecting you to your inner wisdom'. I saw a need for a basic guide to life coaching for the UK market. There was no book available that explained simply what life coaching is, how it works and what benefits people gain from it. The book is aimed at potential clients rather than at coaches, though coaches will find it invaluable for explaining what they do and as a means of ensuring that their clients get the most from the coaching services offered to them. It makes an ideal client gift.

Nearly two years ago, I was contacted by a freelance journalist to answer some questions about life coaching. As a result, I was featured in an article which appeared in one of the major British Sunday newspapers and my details were included. Soon afterwards, I got a call from a publisher who asked me if I'd thought about writing a book about coaching. I had always wanted to write and had in fact already co-authored a motivational book for women called 'Springing Forward'. This experience helped a great deal in giving me the confidence to take on the task of researching, organising and writing up 'Life Coaching'. The result was that he commissioned me to produce the book, and some time later (a lot later than either of us expected!) the book has been published.

The research for the book involved a great deal of reading - which I love doing anyway - and talking to other coaches. Some of them were able to give me case studies of their own clients (in confidence, and with all personal details changed) to use in the book. As a result, the names and contact information of the contributing coaches have been included and I hope they'll get more clients as a result.

The publisher of my book is only a small business and doesn't have much budget for a marketing campaign. I knew it would be up to me to get out there and make sure the book sold. On amazon.com I found an immensely helpful book called '1001 Ways to Market Your Books' by John Kremer - I'm working through the advice and the interest in the book is building up. The royalty payment I get from each copy is quite small so I certainly don't expect to make millions by selling the book - unless of course I can get it featured by Oprah! Its main benefit is as a passport to give me credibility in the world of training and coaching.

J. Slava Thaler: Achieve Your Dreams
beagreat.com/dreamachiever | sthaler@reachapex.com

Writing a book has become a revenue stream for me, as well as the best way for me to market and promote my business and build my own credibility.

Besides making revenue from selling my newly-published book, "Achieving Your Dreams in 2003!" (official website, http://www.beagreat.com/dreamachiever), I offer a free coaching session in 2003 to anyone that purchases my book which helps promote my coaching as well).

Publishing this book may also open another revenue stream of coaching individuals on writing and getting their books published ... the beautiful thing about coaching is that the possibilities are almost infinite!

Barbara Walker: Write a Book on Demand
bmwalker.com | barbara@bmwalker.com

Hello, my name is Barbara Walker and I am publishing my first book in September 2002. Why? because writing fulfills a lifelong passion of mine, and this book fits into my Business Plan. When I began coaching two years ago, my plan was to increase my revenue by adding products of value that also served to raise my profile. I want to be known as an expert in the field of working with people to create a fulfilling retirement, and my plan is to publish my book, conduct teleclasses, write e-courses and e-books on this subject, and to be known as a speaker on this topic. Down the road I will create a foundation to embrace people world-wide and inspire them to make a difference for mankind, but back to writing the book!

The best thing I did when I was clear about what I wanted to write about was to take a teleclass with C. J. Hayden at (www.GetClientsNow.com). I learned about the different methods of publishing and how they compare, and I realize that publishing is a big, complex world of its own!

When I was ready to write, I followed Dan Poynter's The Self-Publishing Manual (http://ParaPublishing.com). This was invaluable because he recommends a system where I laid out the sections of my whole book in a binder. I could see and feel that I was organized and this made the actual writing possible. Each day I could see my progress, and if one day I didn't feel like writing part of the main book, I could do another section, the Introduction, for instance.

As I went along, I kept hearing, "Plan your promotion and marketing." In fact, my own coach, Irene Leonard at (www.CoachingForChange.com) was very helpful in keeping me accountable here. But it was Gordon Burgett's book, Publishing to Niche Markets and John Kremer's 1001 Ways to Market your Books that provoked me to consider who and where my readers were, and provided me with solid ideas about where and why my readers will buy my book. They both encouraged me to prepare my marketing materials before my book is off the press!

And this is the really exciting part! My book is being printed on demand. It will have its own website a www.Trafford.com from where it will be shipped. I am buying their package that assists me with media listings and distribution. It has been a great experience, and I think the most fun is still to come! So, watch for it online or at the big booksellers and have yourself a read, and then pass it on to your mother-in-law. It's called: Create Your Retirement: 55 Valuable Ways to Empower the Rest of Your Life!

Suggestions Related to Writing and Selling a Book
Pick a topic you're passionate about.

You don't have to create the content by yourself or all at once. Compile articles or issues of your ezine into a book. Gather articles or chapters submitted by other people on your topic and create a book (with their permission of course.)

Decide whether you want to publish or self-publish and determine the steps you need to take.

Decide if you need guidance in the process. There are many great books, classes and coaches who can help.

Related resources
Full Practice Lesson 90 on Writing Your First Book.
RealAudio/Transcription for 3 Step Training on Writing Promotional Copy for your book.


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