Small Business Blog

Posts Tagged ‘Book’

The internet has added a whole new dimension for many industries to explore, expand into and monetise, including the audio book download market. These days anyone with an internet connection and a computer or laptop has easy access to a wide selection of MP3 audio books. An increase in sales and popularity for this niche ensures it will be here for many years to com. This type of online service has been especially useful for business people who travel frequently, commuters and families looking for something to occupy the children on long trips.

The audio book market has something to suit the needs of any book lover. With the vast selection available online, the audio book download market is sure to have something that will suit just about anyones needs or taste. Business books make up a significant part of the audio book market. You can find a vast array of business categories with a large number of titles in each category just by surfing the internet. When you find one you like, all you have to do is download the mp3 or wma digital file and your ready to go. Other interesting and helpful resources like motivational materials and expert authors writing on such topics as, “establishing a successful business,” are readily available.

Audio book downloads are made available to the consumer through hundreds of online stores and websites. An increasingly popular online store to obtain your MP3 audio books is Simply Listen Audiobooks. Consumers can download digital recordings of their favorite topic or author at prices that are less than purchasing the actual paper book itself. Apart from saving money the more eco-conscious amongst us will be happy in the knowledge that they are also helping the planet by not contributing to the mass tree felling programs that are going on in many parts of the world.

These online digital libraries usually stock thousands of titles with the vast majority of the best authors and subjects readily available. As a result users are certain to find something that fits their preferences while providing the opportunity to expand their horizons. If this is something that you think you may find interesting or useful but want to try the free option before laying down your hard cash, then try some of the free audio book downloads first.

Most of the first generation online audio book stores are still subscription based or membership based services. But these days you can get access to a huge number of top quality audio books without the imposition of having to join a club or pay a monthly membership fee. Most of the new wave of online audio book stores offer the same advantages and do so without the customer being tied down to purchasing from one place because of a recurring membership fee.

Some of the advantages include: being able to pick and choose the stores you download from; choosing to buy when you want; choosing to buy as many or as few titles you want; no postage costs; no late fees; instant downloads providing instant access 24 hrs a day 365 days a year. Which of course means you no longer have to depend on the postal service for delivery.

With the frantic lifestyles we we lead in today’s society, the audio book market provides a valuable service for book lovers and the busy professional alike. MP3 players, ipods and compact discs along with the convenience of the internet make it possible to listen to just about any book you want at almost any time.

In my opinion this is a fantastic marriage of new technology and services that everyone from the youngest to the oldest can definitely benefit from in some way, shape or form.

When you’re working on a book or ebook—any writing project you intend to sell—the question, “Will people actually want to buy this?” inevitably comes up. Although in most cases this is your inner critic trying to sideswipe your creative efforts, the question is valid. Will people actually see the value in the information you’re providing? Will they want to spend their money on your book?

The answer to these questions often lies more in packaging the material than the material itself. You can add value to your book or ebook, and enhance its marketability at the same time, by adding features that can’t easily be found anywhere else, and then using them to appeal to your audience. In most cases, these added features aren’t hard to find and create. You probably have the information ready to go; you just need to know how to work it into your book.

To make your informational product more marketable, consider the following seven ways to add value to your book or ebook.

1. Add a list of online resources

Compiling a list of online resources that pertain to your topic and supplement the information you present in some way will give your readers a place to go to find more. For example, if you’re writing a book about dieting, add a list of Web sites that post healthy recipes. This strategy is simple enough to do because you probably know of several resourceful sites that relate to your topic, and it adds value to your manuscript because it saves your readers the time of searching recipe sites online.

2. Add a list of books that supplement your information

This strategy works in the same way listing online resources does; it adds value by saving your readers time and guesswork, and it’s easy enough for you to do because you probably read all the books on your topic while you were researching your material.

Even creating a bibliography of all the sources you used in your research increases the perceived value of your book because readers can see where you formulated your ideas and concepts. It makes you and your expertise more trustworthy. And a bibliography or list of additional books makes your book more resourceful.

3. Add diagrams

Not all people learn and retain information in the same way. Some people can read and understand new information, but some learn best through visual aids and representations. You can add value to your book and make it easier to use for a broader audience by incorporating graphs, charts, diagrams, and other visual aids that clarify and reinforce your main ideas. If you want to include visual elements in your book, talk to a graphic designer about how to create them and incorporate them into your material.

4. Add profiles

People add color and character to every story, therefore adding profiles of people who either work in your industry or have successfully implemented your strategies to your book is a great way to make the information come alive for your readers.

If your book is about running an online business, then profile successful online entrepreneurs. Ask about their inspirations, successes, failures, and advice for your readers. To find anecdotes for your book, search your client database first—satisfied clients will be happy to help. Then you can advertise online for more stories by posting an inquiry on your Web site for viewers to submit their personal experiences.

5. Add checklists at the close of each chapter

If you really want your information and ideas to stick with your readers, then adding a checklist of main points at the close of each chapter, or even at the close of each subsection, is a great way to accomplish that goal and add value at the same time. To create a checklist, just identify your main points and assemble them in a list using bullet points or numbers to designate each item. Aim for three to five items for each chapter.

Checklists are easy to create and work into your manuscript. Plus, they are a marketable feature in a book because people like to receive new information in an easy-to-swallow format. Checklists that summarize your main ideas also make it easy for readers to refer back to your book later.

6. Add exercises or worksheets

If your material warrants doing so, you can take the checklist idea a step further by closing each chapter with a quick list of questions or activities for your readers. These can be activities you use in your own work, strategies you teach your students, or exercises that you create especially for your book. Readers will like the ability to apply and practice your information and concepts immediately after reading it. Then, you can compile the entire list of exercises into a bonus download that drives traffic to your Web site, or expand it into a workbook later.

7. Add an index

How many times have you been relieved to find an index at the back of a reference or how-to book? An index is a very user-friendly characteristic for a how-to, educational, or business book to have – it makes your information easier to find and apply quickly and without a long search. If you want your book to be perceived as a resource, then an index is a worthwhile addition. Some computer programs can create indexes, or you can hire an indexer to do it. The extra step will pay off for your readers and for you.

Your Book’s Value

If your goal is to create a valuable resource that your readers can easily use, then these seven strategies will help you accomplish that goal. Although they may not all be appropriate for your material, you can choose the strategies that best suit your and your readers’ needs.

When your information is easy to find and apply, readers will refer back to it time and time again. Incorporating one or more of these seven features contributes to your book’s perceived value and marketability. And when readers see value in your informational product, they willingly open their wallets and buy.

The six-figure book advance, like the New York Times bestseller, is the object of many a writer’s fantasy. Whether it’s also a realistic goal is something else again.

*Can you really get a six-figure book advance?*

When Susan Page wrote *The Shortest Distance Between You and a Published Book* in 1997, she included the following list of the qualities that you and your book have to have if you’re going to get a six-figure advance.

1. Your book is on a topic of wide general interest that could excite a large number of readers.

2. Your book has a distinctive angle and makes an original contribution to its field.

3. You have substantial credentials to write on this topic OR you have a co-author who does, OR you can get an extremely famous, well-credentialed person to write a foreword for you.

4. You have prepared an extraordinary proposal and are working with a competent editor already.

5. You have a show-stopping title.

6. You secure the services of a well-known, experienced agent who believes the book can earn such an advance.

7. You are both willing and able to promote your book on radio and TV and in print.

This is not a mix-and-match list. You have to have *all* of those things to get the big advance, unless you are an international celebrity or a best-selling author.

Page’s aim was to deflate unrealistic expectations. Her book aims to get you into print, not necessarily to get you rich. Most authors do not get rich from their books. Most publishers don’t get rich either. Book publishing is an industry in which there is very little profit. If authors get rich, it’s usually because having a book lets them sell expensive services and book high-paying speaking gigs.

*You can get a six-figure advance, but it will cost you.*

And I don’t mean the $197 price tag on Susan Harrow’s new e-book, Get a Six-Figure Book Advance. A $200 investment is nothing if it gets you a $200,000 return. Using the proposal template/software included with her $197 e-book, you’ll be able to produce the kind of proposal that will have publishers in hot pursuit—but getting the advance requires a whole lot more than just buying the book or even having all the right elements in your proposal.

*If you want a six-figure book advance, you’re going to have to work for it.*

Susan Harrow, jokingly known as a “de-motivational coach,” doesn’t try to pretend otherwise. In her August 4th teleclass, co-hosted by ghostwriter Mahesh Grossman of the Authors Team, she made it clear just how much work goes into getting a six-figure advance, and how long and hard you have to keep working *after* you get the money.

*How advances work*

In order to persuade publishers to pay you $100,000 or more before your book is published, you have to convince them that your book will sell at least 100,000 copies. (Your royalty will be about $1/book for a trade paperback, possibly as much as $3/book for a hardcover, so you do the math.) And since books don’t sell themselves, what you’re really saying to the publisher is that *you* can sell those 100,000 copies.

Yes, a publisher that invests that much money in you will also invest more in the production and marketing of your book than in someone who gets a smaller advance, but when you get right down to it, no one really buys a book because of its publisher. And your book won’t sell just because it’s a good book. People rarely buy non-fiction books for the quality of the writing. They buy for the quality of the information—and in the mind of the public, that depends on the expertise and reputation of the author. It all comes back to you.

*How do you get readers to think of you as an expert?*

First, they have to know you exist. If you’re not already a celebrity, you’re going to have to become one, or at least put up a convincing show. If you don’t have legions of fans, you should at least have thousands of subscribers to your e-zine or blog, or a syndicated column in a newspaper. If you haven’t been on Oprah or The Today Show yet, radio interviews and local TV news programs are a good start.

*Getting into the public eye*

To get visible enough fast enough, you probably need a publicist, which means shelling out several thousand dollars. In order for media attention to do you any good, you have to look good and sound good every time you appear. That means getting professional media coaching before you start lining up interviews to make up for not being a celebrity. You need to arm yourself with a repertoire of sound bites for all occasions and rehearse until you can spout them in your sleep.

That doesn’t just take money, it takes time. It takes *work*. And no one can do it for you, either, because you, as the author, have to be the one in the limelight.

*Editing is essential for a killer proposal.*

Media coaches and publicists aren’t the only team members you’ll have to enlist if you want a six-figure advance and a book that justifies it. The services of a professional editor are essential for both your proposal and your finished book. In fact, you might just want to hire a ghostwriter and get it over with, because you’re probably going to be too busy marketing to write.

That’s more money spent in advance of getting your advance.

*Post-publication publicity*

You’re not through yet, either. Now that you’ve gotten enough media attention for yourself to impress a publisher, you have to do it over again for your book. You’re going to have to shell out a good-sized chunk of that advance on your own publicity efforts. More and more publishing houses assume that your advance *is* the marketing budget for the book, so they expect you to spend your own money on getting the book sold. (Tip: when mentioning this in your proposal, always make the offer contingent on the publisher matching the amount.) This expectation actually holds true regardless of the size of your advance, but the more money you want to get, the more money you have to spend.

*Six-figure advances are not for the faint of heart*

Writing a good book is the least of the challenges facing you when you set out to get a six-figure advance. Moreover, if you *don’t* earn out your advance by actually selling 100,000+ books, your chance of getting such a large advance again are nil. To succeed when the stakes are this high, you need to become an Olympic athlete of a book marketer. That can be hard to do if you have a day job or a family, never mind both. And it’s almost impossible if you don’t have a substantial chunk of starting capital.

*Do you really need a six-figure book advance?*

For many authors, five figures are plenty, especially for a first book. Even if it loses money, that book will create the leverage the author needs to succeed in other aspects of her business. (That’s one reason self-publishing can be such a good option for business book authors.) Getting a smaller advance still takes work and costs money, but it’s a much more manageable goal for a first time author without fifty grand to invest in getting into the bookstores.

Setting the right price for your book is crucial to its success. If you do not set the right price, you may do more harm than good to your sales. When pricing your book, you need to take into consideration many factors.

There are generally two methods that you can use to arrive at the price tag of your book. The first is the traditional or the bottom up method. It is called bottom up because you start your calculations from the bottom and gradually go upward to get the best price for the book.

In this method, you first take the production cost of your book, add the trucking costs and multiply the sum by eight to arrive at the magic figure. The reason to use this high multiple factor is to cover the commissions/profits of distributors, wholesalers, and stores, all of which demand a heavy cut of the list price of the book. Without the support of this distribution channel, you will be unable to deliver your book to the reader/buyer.

Usually a distributor’s cut is about 66%, wholesalers take up to 55%, and stores take 40% of the list price. Then the costs involved in promoting your book have to also be taken care of. Promotion is an expensive business and you will need to shovel back nearly 25 to 30% of the gross amount.

The least expensive way of promoting your book is to seek reviews. They are one of the most effective means that also costs the least. However, they involve sending review copies of your book to various newsletters, magazines, newspaper columns, and other opinion molders.

Remember that these review copies are books that are not sold, and therefore you do not get paid for them. They are sent free and the cost involved is considered promotional advertising expense. Depending on your subject and target audience size, you may have to send out hundreds of copies. One important factor that has overriding priority over the cost of production, while considering the final price, is the genre/category of the book.

Another method is the top down method. The principle here is to price your book according to the price of similar books in the market. The price that is given on the back page of the book should be in line with other books in the market, because retail prices are established not by the cost of production, but by the marketplace.

To find out market prices, visit bookstores that stock similar books and check the prices. You also need to note other points like the shape, quality and type of paper, and binding to determine what your reader/buyer is prepared to spend.

You must also keep in mind the target buyer segment when determining the price of your book. If it is targeted at teenagers, you need to make it low priced with a soft cover. Books for professionals like lawyers, doctors, accountants, technical experts etc. should be hardcover editions with dust jackets and can be priced higher, say around $80 to $100. Business books should be priced at around $35.

Pricing a book is a subjective issue and there cannot be any hard and fast criteria to fix the price. However, what is discussed above can enable you to proceed in the right direction while determining the price of your book.

Is your small business successful? Whether it is or isn’t you and your business can certainly benefit from having a performance strategy. Now, before you roll your eyes and say that you don’t want to look at or hear about one more thing that could improve your business, I want you to think about this.

A performance strategy to promote small business growth and success is very often not about improving your systems or hiring the right consultant. A successful performance strategy to promote small business growth is about you. Think about this. You are the owner, founder or a principal player in a small business. If you don’t grow in your thinking and your disciplines then the business won’t grow.

The secret to small business growth has to do with the five inches between your ears. If you don’t think of it, it won’t happen. If you don’t grow your business won’t grow. As Napoleon Hill said in Think and Grow Rich, “What the mind can conceive and believe, it can achieve.”

One way, to create a successful performance strategy and for your mind to conceive and believe in what can be achieved, is to read books. There are many small business books that can start filling your mind with ideas and actions for growing small business. Is your small business running well? Read a book. Is growing small business challenging you? Read a book.

It may seem simplistic but one of the best ways to open your mind to the success you want and its possibilities, is to read. If you don’t like to read, get an audio book. The key is to keep your mind open and inquiring to “what can be.” Without an open mind, you are destined to struggle because you are focused on “what is.”

Become a possibility thinker. Your mind is a muscle. Without exercise your mind you will never reach your potential. Exercise your mind with reading on a regular basis and you will be pleased with the results for you, your business and your life. Also, be a positive thinker, not a positive wisher. A positive thinker takes the appropriate action and moves forward. A positive wisher, on the other hand, wishes for positive action but does not take it. Be a possibility thinker and a positive thinker. Now there’s a performance strategy for small business growth and growing small business successfully.

It used to cost a fortune to get a book printed and published. Today it can all be done online for considerably less than $1,000…and most of that is going to go to your cover designer.

Instead of ordering 1,000 or 5,000 titles at once, you can order 1 at a time using print-on-demand publishing. So it’s not a question of whether you can publish a book or not. It’s a question of whether you should.

Not everyone should publish a book.

If you have the dream of selling a million copies and getting rich through your book, keep dreaming. It can happen, but it’s a million to one shot.

Books have the lowest margin of any information product. A CD costs $1 to $2 to duplicate and sells for $15 and up. A DVD costs $1.50 to $3 and sells for $20 and up. A multimedia course with manuals, CDs, and DVDs may sell for $100 to $1,000 or more.

A book printed in low numbers costs $3 to $5 and sells for $20 or less in most cases. Can you make money from a book? Yes…but I would never want to be in a position where I had to make money from a book.

They’re an entry product and they’re a tool for generating publicity.

I would never recommend a book for someone’s first information product. Start with a CD, DVD, or even an eBook. If that proves successful, then consider a book.

While not everyone should publish a book…every consultant, coach, and information product developer, and professional speaker should!

Let’s say we’re both consultants or coaches and we’re talking to a business owner. You sit down on the plane beside them and give them your card. When they ask me what I do, I hand them my card and my book.

Who stands out as an expert in the field?

Now let’s say we both contact radio stations and offer to do an interview. You tell them how you coach people about success in business. I tell them the same thing and send them my book. Who stands out as the expert in this case?

The book author does…Face it. You might know more than the author right now, but they will often be perceived as the more knowledgable expert because they put it in a book. Will the radio host read the book? Not likely…There are some pretty crappy books that get major publicity.

That’s enough on that before I get myself into trouble.

If you want to be perceived as an expert in your field…create a book. You don’t even have to write it yourself. Put together the materials and hire a ghostwriter to create it if you want.

Now let’s say you want your book to be a profit center. It can definitely be that, but it requires you to create large scale publicity. If you do an interview on a major radio station, you can sell 300 books or more.

If you were published by a publishing house, you might only get $1 per book. So that appearance was worth $300. Using POD publishing, you might be averaging $10 a book…so you earn $3,000. That’s not bad for the hour interview. Get a major TV appearance…and you can sell tens of thousands.

You can also do book signings and other events to sell more books…but remember this all requires you to do something. If you want a fully automated business, books are not the job for you (although you could have a PR agent making the contacts for you). There are other products where this can be done much easier. The math simply doesn’t work out for paid advertising in most cases.

When I work with a author, I like them to have additional products and services to sell on the backend. Sure…it’s nice to make money selling your book. What else do you have? Do you have a CD set or a DVD showing your techniques in more detail? Do you offer consulting or coaching on the backend? That’s where the real money is in books for the average author.