Looking to create book-sales income streams from your business- and brand-building book? You might see higher potential from creating streams to boost the growth of your core business. But don’t overlook the potential of enhanced book sales to generate a steady flow of cash via this tried-and-true publishing industry strategy.
The most obvious starting point for an executive author who wants to maximize their book’s ROI is setting up income streams from book sales. These authors don’t normally count on book sales to bring in the big bucks. But as you plan your budget and activities for your business-building book’s early years, know that your single finished book can easily spawn several steady book-sales income streams.
With a modest investment and a month or two of your time, these can collectively create a noticeable baseline income for many years. An income that can fund planned business and marketing activities to lock in your reputation as the go-to expert in your field.
First and foremost, create multiple book formats for your content (with your target audiences’ preferences in mind): MOBI, PDF, EPUB, paperback, hardback, large print and audio. You’ll reach more readers through your additional formats.
Then, offer signed copies of your physical books at a premium price. Single copies. Or only if a buyer purchases a certain number.
Bundle your formats or titles. Or create a boxed set so buyers of more than one format pay less than if buying them separately.
Hand-in-hand with your book’s formats, make your book available on multiple platforms: Kindle, Kobo, Apple, Amazon.com, Barnes & Noble, Audible, etc.
And if your target audiences aren’t limited to only your home country, sell globally in your book’s original language as well as via translations that open doors around the world.
In addition, to increase your reach to more of your targets, sell to specialty channels such as subscription services and libraries. And if your content could be an important addition to undergrad or graduate school reading lists, reach out to university faculty members. They can lead to future generations of fans and followers — soon to enter the world as workers and consumers — knowing about and benefiting your business for years.
Last but not least, consider attracting bulk purchases from numerous “special markets”: corporations, associations, nonprofits, government agencies, military bases, university administrators, schools, specialty bookstores such as at airports, home shopping networks, catalogs, gift shops, retail outlets, supermarket chains, drug store chains and big box stores. Some of these buyers give books away by the thousands to prospects, customers, employees and other stakeholders and may require you to add a page or back cover of content about their brand. Others are selling channels that buy books in bulk.
After considering these book-sales income streams from your business- and brand-building book, Wait! . . . There’s more! . . . Time to expand to income streams that extend or repurpose your content, leverage your book’s and expertise’s brand or build your author brand as an expert. (Or better yet, as a thought leader.) Plus active, passive and recurring streams. And ones based on some of today’s newest ideas, techniques and technologies (anyone interested in using machine learning or AI to create some unique, client-transforming streams?).
Check out the related posts below and our individual consulting program, Choosing Income Streams to Kick Your Business Into High Gear, with its overview of more than 100 possibilities.
Note we’ll soon be launching a PDF and printed planner/journal workbook about income streams as part of our new family of two dozen ultimate planner/journals.
It will accompany our course covering our compilation of 280+ streams. And be where you track your research, choices, budgeting, staffing, planning and decisions about next steps for dozens of income streams you can develop while creating a thriving 6- or 7-figure empire related to your expertise.
You’ll also be able to document your progress as well as their launch, growth and results — all in one place you can revisit any time!
Contact us to request an email announcement when it becomes available (if you’re not already getting our emails).
Related Posts:
Create Training-Related Income Streams from Your Business- and Brand-Building Book
Create Publication Income Streams from Your Business- and Brand-Building Book
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