Author to Entrepreneur – Turning your Book into a profitable Business
Your Book is not a business card – it is much more powerful.
A business card cannot change your life – But a book has the potential to open the gateways of your dream business and in turn your dream life.
Being a publishing agency, we come face to face with this amazing potential of books and authors to build dream businesses together on a daily basis. It both inspires us and challenges our team creatively to design publishing packages that meet the needs of aspiring authorpreneur.
Entering the business arena armed with your book has three-fold benefits – You already have visibility, brand value and alternative streams of income that support your entrepreneurial ambitions.Here are 6 reasons why your books are the ideal platform to launch your business –
- Your book helps you create an instant brand for your personally and potentially for whatever business idea you are hatching.
- Your book will help you to associate yourself with authority, mastery and thought leadership – cementing your position as an industry leader.
- Increase your visibility to achieve maximum reach and impact across diverse audience bases.
- Your book will help you create a solid and receptive audience base for future ideas.
- Your book is a powerful networking tool for acquiring introductions and make an instant impression on the players in your industry.
- Your book provides you access to a ready-made book and author based marketing platform.
Now that we know the power of a book to launch your personal brand and create the perfect platform to build a business, Let us look at some monetizing options that will help you achieve your business ambitions –
1.Launch a Product or Service
Even though conventionally businesses and entrepreneurs lead books, the reverse is equally valid. Your book can act as the perfect launcher for products and services you have in mind.
Right from the very beginning, your book gives you an edge over competitors as you already have a receptive consumer base. Your audience database will also prove advantageous in beta testing your products and services. So, you can refine your products at minimum market research costs and avoid multiple product redesigns.
On the business side, when you enter the industry, your book lends your brand both value and credibility by association. This puts in a dominant position to negotiate with and create connections with various players across diverse functions relating to your product.
Most importantly your products/services will be backed by the quality and proven effectiveness of your ideas demonstrated by your book – This enhances both their appeal and visibility.
2. Speaking Engagements
Speaking engagements are not a business per se, but they are a viable long-term revenue stream that will help to keep your book and your profile relevant over long periods. They will also give you an opportunity to made additions to the content of the book infusing freshness and interest without printing a single additional word. Once you establish your authority, they will be opportunities for consistent visibility and income creation.
To begin with, you could organize your speaking event for a small handpicked audience. The purpose of these events is to establish your credentials as a speaker and leverage contacts from the groups to get high-quality speaking engagements.
Secondly, you could act as a speaker at industry events, expert panels, etc. further establishing your credibility as the industry thought leader and innovator. At these engagements, focus on collecting contacts, building networks and building relationships for long-term gains. Eventually, these events will start paying as your circle expands to create visibility.
Finally, the paid speaking engagements – These are organized by colleges and universities as part of their curriculum. Keep the session objective in mind and avoid making overt references to your book or business. Focus more on creating an impression about your capability by utilizing the examples from your own life and the book. Invite the audience to check out your website/blog for more info and let them make contact.
3.Consulting and Coaching
Consulting and coaching services are another revenue stream which will go a long way in building your profile as Authority and leader in your Industry.
Consulting the organizations and management across your industry not only pays well but builds visibility for your brand. It will help you create a reputation for expertise. Similarly, you could design custom courses building on the foundation of your group for companies and teams increasing your relevance and appeal.
Apart from this, you could take up a role of a mentor and coach other entrepreneurs and aspiring businesspeople through their operational and managerial challenges.
If you have written a book with universal principles that transcend your industry and background, you can leverage them to create programs that cater to a broader audience.
Consulting and coaching are vital for authors because of its high revenue potential and ability to create high visibility. Don’t forget to leverage the research materials and content of your book to make your coaching and consulting highly efficient.
4. Online Revenue Streams
Thanks to the digital revolution, not only publishing books have become more accessible than ever, but establishing online revenue streams has also become a cakewalk. This makes more sense as you already have a mailing list who are your loyal fans and are willing to invest in your advice – all thanks to your book.
You can quickly create a paid E-learning course by repurposing the research of your book. Make sure that you enhance its value by making the content actionable and give loads of worksheets and practical guidance.
You could also have paid webinars, podcasts, etc. which will help you create content on a regular basis and diversify your business. Hosting teleseminars and webinars for professionals in your area of expertise will also yield good results.
Building a business in this age of information overload and attention scarcity is a severe challenge for any aspiring entrepreneur. Your book is the golden key that creates visibility and draws the attention of the audience ensuring that when you launch your business, you start with a loyal consumer base.
Do you want to learn about how to make the transition from author to entrepreneur?
Do you want to unleash the potential of your book to create your dream business?
Don’t put your goals and dreams on hold anymore. Schedule a free 30-minute strategy call with The Books Factory by Clicking Here.