Converting your expertise into a best-selling book is one of the best ways to create a new powerful stream of income.
When you follow one of Best Seller Publishing’s seven million-dollar author (MDA) plans, you can start with the end in mind and position your amazing book to make the income and impact you want.
Take a look at the strategies below and pick the one that works best for you. With a full commitment to one of our plans, you can use your book to become a million-dollar author.
How to Make Millions Writing a Book: 6 Proven Strategies
Before opting for any of our six strategies, you must know what your end goals are.
What do you want from the book?
Are you most interested in bringing in speaking engagements? Or are you more focused on drawing in coaching or consulting clients? Pick the main outcome that you want from your book and begin with that in mind.
1. Royalties, Future Books, and Movies
One common way to make money from your first book is through royalties, future book deals, and movies. All of these are potential opportunities, and if you are interested in them then the marketing and launch of your book are crucial. However, if you want these to be the main ways you are making your money, you must continuously think of new content for new books because each book has a shelf life. This is a great strategy for those who really do want to write and create new content yearly.
2. Coaching and Consulting
Writing a book brings authority and credibility to you as a consultant, making it a great platform to attract new clients. If growing a consulting business is your goal, design your book as an expert consultant.
It is crucial that you position your book correctly to provide the authority you will need to consult.
Two things I talk about a lot when it comes to consulting are authority and credibility.
Both of these ideas are crucial to any successful business owner.
My previous clients Joel and Julie are a great example of using consulting to establish authority and credibility.
They were both involved in a ministry full-time for many years. Eventually, Joel decided he was ready to leave the ministry and move into consulting.
He knew he wouldn’t get a consultant job and a high five-figure or even six-figure check from a fortune 1000 company by just being a minister and having worked with people for the last 20 years.
So we helped him write this book, Rewired, that he then used to attract high-level CEOs of companies that were doing $20 million to $100 million in revenue.
In the first year of his consulting business, Joel did over $300,000. He was only able to do this because he established himself as an authority figure in his space.
An attorney, for example, would have a difficult time moving into the consulting business without establishing herself as a credible consultant. Being a successful attorney doesn’t necessarily give her the power and ability to now be able to consult attorneys.
She would need something to establish herself as an expert in her field. How would she be able to move from a practicing attorney to serving other attorneys? She would need to write a book.
A well-written book would allow her to reposition herself from one expertise to another.
Coaching similarly requires a reputation of authority and credibility for success. While the delivery for coaching must be different than for consulting, you will still need to create your book with the aim of building a strong reputation in the space you are coaching.
3. High Ticket Services
Showing your knowledge and expertise in your book can also help you turn around and sell high-ticket services. Instead of taking the knowledge, you share through your book, some people will prefer to simply hire you for the services you are talking about. For high ticket services, use your book to position yourself as the authority in the space, and additionally to generate leads.
Here at Bestseller Publishing, we primarily focus on high-ticket services.
We want potential clients to come to us, write us a check, and let us work our magic for them. Out of 1,000 people who purchase my book, Publish, Promote Profit, maybe 20-50 of them can actually write us a check for our “done for you” services, and that’s totally ok.
Because of my book, I’m helping all 1,000 of those people and I’m able to further serve those 20-50 people who choose to work with us.
Another way one can use their book is to land speaking engagements.
One of our clients, Richard May Bun, worked with us on his book Red Flags. Richard used his book to get a speaking engagement which resulted in over $700,000 in new business.
His book positioned him as the leading authority in the space, which got him the speaking engagement and then he used the book to generate leads with the people that were sitting in the audience. From that one speaking engagement, he was able to land 14 sales, each sale being worth an average of $50,000.
Because he was talking to an audience that was essentially completely made up of his ideal clients, he was able to make some really great sales and work with some wonderful people.
4. Raising Money
If you have a nonprofit or want to contribute to one, you can use your bestselling book to position yourself as an authority figure and raise money for a cause. The key to raising money from a book is to target a very narrow space and deliver the content directly to the relevant audience.
There are a couple of different ways to do this. One of my favorite stories is from a previous client of ours who is an anesthesiologist. He also has a side hustle where he helps doctors invest in real estate.
He started doing this with his close friends, who were also doctors. When he shared the success that he found through doing it himself, they trusted him enough to give him $100,000 – $200,000.
Once he felt more confident in what he was doing, he realized he needed more money. So he decided to write a book with us specifically for doctors to show them how to use real estate investments for their retirements.
This is an incredibly narrow space he chose to work in. He’s really only talking to doctors who are interested in taking care of their retirement and are open to investing in real estate.
Once he had his book published, he was able to position himself as an authority figure in his space. He’s only done a handful of speaking engagements that we booked for him.
Instead, he preferred to send his book to doctors so he could raise the money he needed. After three months of sending his book to potential clients, he raised $2 million dollars for additional real estate.
Now, he continues to use his book and he continues to raise money for his side hustle.
5. Speaking Engagements
Speaking works very well in conjunction with all of the other strategies, but also as a stand-alone stream of income to create from your best-selling books. Even someone who is brand-new can successfully become a speaker and earn a large profit. Your book will serve to demonstrate your credibility and generate buzz. When you correctly position your book with other sources of credibility like PR coverage and media, you can use it to earn huge speaking opportunities. Whether paid or unpaid, these speaking engagements put you in front of potential clients.
Michael Port, for example, is a very sought-after speaker. He’s an author, small business marketing consultant, and public speaking teacher. He wrote Book Yourself Solid, Beyond Booking Solid, and The Contrarian Effect. He’s an incredible speaker and his fee is anywhere from $20,000 – $30,000.
Kevin Harrington, an entrepreneur and business executive who founded “As Seen on TV” and was one of the original Sharks on “Shark Tank” charges between $25,000 and $50,000 when he speaks.
And get this – he does a speaking engagement almost every single week. He’s on the road 50 weeks a year by himself. His business is generating over a million dollars a year just from speaking fees alone.
Harrington loves being on the road and he loves speaking. There are many authors and entrepreneurs who enjoy speaking and wish they could do it more often.
A previous client of ours, Mike Diedrik worked with us to write his book Renew and Sustain: a cutting-edge approach to being socially responsible, environmentally conscious, and incredibly profitable for businesses, schools, and governments.
Mike is an environmental scientist with a consulting firm that works with school districts, municipalities, and construction companies to help reduce their carbon footprint.
When he came to us, he told us that he wanted to get onto big stages in front of large audiences. The book we published with him did really well.
We got him on TV stations all over the country, a NY Times article, and we also booked him on one of the biggest stages in his industry, the Green Festival. They booked him as the keynote speaker at four of their events where he spoke in front of as many as 30,000 people.
Even if you’re brand new to speaking if you have a book and you position it correctly with all kinds of other authority, like PR, media, etc. you can use it to get massive speaking opportunities.
Remember, not every speaking engagement you do needs to be paid.
A few months ago I spoke at Michael Port’s event and he did not pay me to come out. I paid for my flight, hotel, and all of the other expenses. I took time away from my business to be there. Why? Because he put me in a room with a hundred people that are all my ideal clients. I left that event with a ton of planned phone calls with potential clients who wanted to work with us.
While I had to invest time and money into going to Michael Port’s event, I received a huge return. Every client of ours at Bestseller Publishing pays about $50,000 – $100,000 to work with us.
6. Products, Courses, Software
If coaching and consulting are not what you are looking to do, you can instead look to sell products, courses, or software from your book.
Combining your book with free-shipping funnels is an excellent way to move people from readers to buyers. The books you write serve on the front end and can attract course sales and a long time, customers.
Many authors are not interested in doing coaching, consulting, or speaking and that’s more than ok. Some people feel more comfortable selling a product, course, or piece of software.
Take Russell Brunson, for example. While he does do a lot of speaking, he also makes great money selling. At Bestseller Publishing, we actually helped Russell launch Dotcom Secrets. We were one of his top affiliates during the launch.
Russell also paid us to do PR and media for Expert Secrets. I’m featured in his book 30 Days as one of the 30 experts that he interviewed. Russel uses his books to ultimately sell his course.
On the backend, he has his software ClickFunnels which is valued at over $500 million. He’s shared that his current goal is to get to $1 billion.
ClickFunnels is a five-year-old company that was built on a book. Does he do other things? Sure, but he primarily focuses on his book, course, and software.
If you’ve ever heard Russell’s story, you know that he initially had problems selling his software until he made some adjustments, and started to use the book as the front-end offer. That’s why Russell keeps writing.
He talks about how to him, writing is like pulling out his fingernails but he continues to do it every couple of years or so because the books on the front end are an amazing way to attract core sales and then which lead to longtime users of the software (like myself).
These Plans Help You Use Your Best Selling Book to Become a Million-Dollar Author
With the plans above, you can use your bestselling book to become a million-dollar author. Begin with the end in mind and position your book correctly to follow one of the seven strategies to become a million-dollar author.
Best Seller Publishing has helped many authors write, publish, and market books and create new streams of income from their books. If you need some help on your journey to become a million-dollar author or want to learn more, sign up for your free discovery session HERE.
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