Want to make money with a non-fiction book? One of the reasons I love working with entrepreneurs on their book is that showing Return on Investment (ROI) with a book is fairly easy. Depending how they want to leverage it, a book can bring in a primary income or a passive one. It can be an add-on or a lead-in, or even a required purchase to work with them. If you have been wanting to make money with a non-fiction book, or are curious about the possibility, I submit these income producing reasons why writing a book should be on your to-do list this year:
Open Doors for Speaking Engagements
Most of my clients are just starting their speaking career and have discovered that writing a book allows them to open doors for speaking engagements – in fact, some couldn’t get a speaking gig without being an author. What would a keynote earn you if you could get your foot in the door?
Make money with a non-fiction book by getting more exposure through speaking.
Sell from the Stage
Others found that being able to sell a book from the stage created a passive income and an additional reason for participants to engage with them. Let’s imagine 1000 participants produces a 10% conversion rate on a book that sells for $14.95. That’s 100 x 14.95 = $1495. That’s not a ton of money, but you now have your name on a potential client’s shelf. You are also building deeper connections with those who purchase, as they are more likely to sign up for your e-mail lists or other social following.
Make money by selling your non-fiction book from the stage.
Add Value to Participants
Create a win-win value by speaking for “free” as long as the sponsor provides copies of your book to every participant at the sponsor’s cost. Again, let’s imagine the same 1000 participants and a 100% conversion because the sponsor is buying your book. You will likely offer your book for a discount somewhere between wholesale and retail. So that’s 1000 books at a discounted rate of $8.95. 1000 x 8.95 = $8,950. That’s more than many speakers make for a single gig.
Use your non-fiction book as a promo piece.
In addition to opening doors for speaking engagements, there are interviews on various media platforms. News shows, podcasts, and radio shows are frequently looking for experts to give brief interviews to their followers. When you have a book, it positions you as an expert and pitching media for interviews becomes easy. You often won’t be able to promote your book directly, but it will be mentioned in your bio or byline.
Who doesn’t love free publicity? Unlike buying media exposure, interviews such as these are free to you, and you open the conversation with your expert-status producing book.
Some coaches create a companion journal or workbook for clients to use during and/or after coaching engagements. These “low content” books are very popular, easy to produce, and a lower cost than traditional books. The concept here is to get your name and product in front of potential or active clients as a value add and tangible product.
How much additional income could you generate by creating an add-on product that complements your services?
Lead Magnet/ Client Nurture
Low content books, as mentioned above, and other types of companion pieces such as e-books or whitepapers can be used to capture leads and/or to nurture and re-engage past clients. What could you write that is between 10 and 50 pages that offers value and can be easily placed into the hands of those you want to speak to the most?
How much can you gain by having a previous client return or a potential client attracted by your high-value content? How much passive income could you create by charging even $0.99 for such a product?
If you’d like to explore any of these options to make money with a non-fiction book, or your goals and how I may be able to help, contact me for a free, no obligation discovery call. If I can’t help personally, I know people in the industry who can and I’m happy to assist either way.