Mar 3

Written by: karen
Wed, 03 Mar 2010 07:15:31 GMT 

When the idea of writing a book first springs to mind it’s usually accompanied by unbridled enthusiasm and images of sundrenched beaches, Oprah’s couch and big fat royalty cheques.

It is this illusion of royalty wealth that is often the biggest disappointment for new authors. Did you realise for example that if your book sold for $20 and you were with a traditional publisher you’d maybe make 80 cents a copy! Even if it became a bestseller in Australia (5000 copies) you’d make the princely sum of $4000!

Forget about royalty income – it’s not where the real money is. The other misconception that holds people back is the belief that you need to secure an elusive publishing contract. There are still those who believe that a book only carries credibility if it’s published by a known imprint. But I’ve been writing books professionally since 2000 and that argument doesn’t stack up. I have secured my clients contracts with major publishers and others have chosen to self publish and there is no difference between the two in relation to the business development benefits they achieve. I remember one client who self published and it was obvious, he sold maybe 200 copies and yet he estimates that the book generated in excess of a million dollars through new business. The book acted as an introduction and testimonial for his work and it significantly shortened the buying cycle.

I have other clients who have used the new print-on-demand technology which is accessible, cost effective and looks fantastic. As long as you don’t cut corners you can have a book that is indistinguishable from a traditionally published book without the need for contracts or paltry royalty agreements.

But writing a book is not for everyone. If it is to be an effective business development tool it must be written from a marketing perspective so that you subtly showcase your expertise and introduce case studies and successful examples of your work. It is also best suited to businesses where the ticket price of your offering is higher and the volume is lower. If you have a natural market and have a platform to sell it through events or a large corporate database then even better. Writing a book is therefore the perfect marketing strategy for those in professional services, consultants, specialists, CEOs, speakers, trainers, health practitioners, entrepreneurs, solopreneurs and business owners. Plus of course the book has to be very good!

Writing a book will not make you rich in royalty income - J K Rowling style success is a pipe dream. But it can revolutionize your business and massively increase your bottom line and you no longer need to secure a traditional publishing contract to tap into that potential.

Karen McCreadie has authored and ghostwritten over 20 books including a step by step guide called How to Write a Book in 33 Days...

Tags: