Greeting to all!
Welcome to the second lesson from the Book-to-Course Summit Blog Series. If you are just visiting us for the first time, I highly encourage you to read the first lesson in this series so that you have the necessary background information to keep you engaged. For those who have come back to read more, I think you will find this particular lesson interesting as well.
Upon first glance at the title, it would seem counterproductive that I (and especially one of the Summit experts, Tucker Max) would tell you not to focus on book sales in order to generate wealth as an author. And, in fact, when I heard Max mention this, I was a bit shocked, especially because he is a New York Times Best-Seller, go figure! (Disclaimer: While his personal behavior completely contradicts the company's moral philosophy and conduct, his advice for writers was nevertheless on-point. This is why I mention him in this Blog Series.) But he was right.
Too often, we as authors feel that the best way to gain wealth through the use of our craft is to sell many books; but in truth, an average author with very few book sales can actually become wealthy, if he or she is willing to put in extra work through other avenues. (I share more in my e-Course, so be sure to enroll. It's FREE for #LAPWriterpreneurs for a limited time.)
For the purpose of this blog post, I will share 1 of 3 reasons why you should not focus exclusively on book sales, and how this actually hinders your financial potential. So, let’s get right to it.
The number one reason why focusing exclusively on your book sales is harmful to your financial potential is because it is highly unlikely, and nearly impossible, for you as an author to sell thousands of books in order to gain significant wealth. Tucker Max gave us some pretty interesting statistics, stating that in reality, only about 0.03% of authors actually sell about 10,000 copies…something to that nature…don’t quote me on it. But it was alarming and truly eye-opening. And when you sell books, the most that you will probably earn from each item is $25 as people are not interested in spending more than that for a book. Let’s say that you are capable enough to convince 1,000 people to purchase your $15 book, a task which is truly difficult to accomplish. The most you have made from that one product is $15,000, certainly not enough to keep you living solely off of that project. Therefore, and in order to maintain your commitment to your authorship, it is vital that you consider other methods to help you generate wealth absent from focusing exclusively on your books. In Lesson 1, I presented a couple of strategies. But just to inspire you more, here is another one that you should consider.
If you are an author who writes books to uplift Christian women in their personal walk with the Lord, consider creating weekly workshops/Bible studies where you teach (from the Word and your book) women how to become…whatever. Each woman that joins your group and pays a membership fee, which could be the price for your speaking engagements; they can also purchase a book package from you. You can create an incentive that would encourage the women to bring on others to join the group. When you take this approach, notice that now your focus shifts from simply selling your books to this audience to actually ministering to women, and selling something else that generates an increase. Instead of only earning $15 from each woman just from your book, you are now gaining $50+ from each one on a monthly basis. Keep in mind that other factors have to go into play in order to build trust among the women to keep them coming; nevertheless, the strategy and principle remains effective. (If this is something that interests you, I encourage you to hire my Coaching Services, which can help you put your ideas into motion immediately.)
When you enroll in my first e-Course, I will give you other suggestions and strategies to move you forward in shifting your focus as an author, so I hope you will enroll. Spaces will be limited to allow me the greatest opportunity to work effectively with each attendant. And if you have not yet received a copy of my e-Book, How to Begin Your Journey as an Author, here it is! (If you would like to join our tribe of #LAPWriterpreneurs, click over here. Be sure to invite 5 other people to join as we become stronger with numbers.)
And as always, let’s grow together!
“May the favor of the Lord our God rest on us; establish the work of our hands for us—yes, establish the work of our hands” (Psalm 90:17).
Ready for more? Click the image to read Lesson 3.
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