There’s no doubt about it.
Whether you’re selling a product or a service, having a book is a huge asset for your business. It’s one of the best tools that a lot of world-renowned experts have used to successfully build their brands.
Not only does your book start a conversation with your ideal customers, it also builds trust and credibility very quickly.
As an author, your prospects and peers see you in a more favourable light before they even get in touch with you.
Having a book is an incredible way to attract and persuade your ideal clients to eventually work with you.
There are A LOT of benefits to write a book but for the sake of brevity, we’ll stick with the main ones.
Here are 5 ways authors profit from their book.
1. Passive Income Stream
One of the best things about writing a book is that you can make money from your work in so many different way.
Once you publish your book, you can leverage existing technology and create a simple yet profitable business that will pay you for years to come.
Brands like Amazon, Apple and Google will pay you up to 70% of the sales while promoting you.
That’s pretty crazy, right?
Also, you can profit from your book by publishing it as an e-book, paperback and audiobook as well.
This is a passive income stream because you only have to create it one time and it keeps paying you over and over again.
2. Generate Qualified Leads
In case you didn’t know, Amazon is one of the BIGGEST search engines in the world. And people who visit the site usually have an intention of buying something.
When someone purchases your book, they’ve raised their hand and expressed interests in your topic by voting with their wallet.
Instead of you calling prospects, prospects call you and that’s an entirely different conversation. If they like your book, they’re going to be a lot more likely to invest in your other products or services.
Your book is a great way to build a relationship with your ideal customers before they even get a chance to talk to you. They’re going to be the ones qualifying themselves to work with you which makes the enrolment process much easier.
3. Command Premium Price
The best way to double your business is to double your prices.
If your cost-per-lead and conversation percentages stayed the same, you’ll make more money simply by charging more.
Having a book that positions you as a trusted authority is an effective way to command premium prices.
Because people want to work with the best. Having a book makes you more reputable almost instantly.
If you want to become a sought-after expert in your field, a book can definitely do that.
4. Free Media Exposure
Writers, reporters and bloggers need good content. They’re always looking for credible sources.
Having a book can make it so much easier for you to get on podcasts, TV shows, radio and even popular blogs.
When you are perceived as an authority in your niche, people start reaching out to you.
If you don’t have a lot of money to spend on your marketing, then a book is the best bang for your buck.
5. Grow Your Network
Your net worth is directly proportional to your network.
If you want to connect with highly influential people in your industry, sending them a copy of your book is a great way to introduce yourself.
Your book becomes a glorified business card.
You’ll get instant respect. Influential people will want to do business with you because you’re a best selling author.
Having a book makes you stand out from the rest very quickly.