This is part 3 of a series called “Million Dollar Author Strategy” where I share 7 ways to becoming a million-dollar author. Before you read this blog post, be sure to check out the first two if you haven’t already…
7 Ways to Create a Million Dollar Author Plan
- Use PR & Media
Here at Bestseller Publishing, we use our team of PR experts to help our clients get booked for interviews on various media platforms from podcasts and radio to national television spots.
Without a PR team, it can be a little intimidating to put yourself out there, but it is totally possible to do it yourself.
When a client has published their book, we first want to focus on two types of media that best suit the client and their book. We then pitch to hundreds of media outlets. Why so many? Because you may have to pitch to 100 or 200 places to get five or six actual placements on podcasts, in print, online, in magazines, radio, television, etc.
The first type of media we focus on is called “specific media,” where you’re speaking directly to your target audience.
A good example would be a podcast, a blog, or an article because those outlets typically know their audiences. That allows authors to share their message with people who are ready and willing to take the next steps
I’ve spoken on podcasts where there are only 100-200 listeners but it’s such a niche podcast, that I make more money or gain more clients than I do from a national radio or television spot.
The second type of media is more general such as television or radio. General isn’t bad, but it should be paired with media that has a specific focus.
Media appearances that have broad/general audiences are important because they raise an author’s credibility and authority. And of course, the more niche of an audience that you can talk to, the more likely you’ll be able to convert them into clients (which is always the end goal).
The goal of media and PR is to increase one’s credibility and authority as well as increase lead generation. When an author is able to put themselves out there in front of their ideal audience, they’re going to sell more books.
- Speaking Engagements
I’ve already shared with you one or two examples of how to use speaking engagements to your advantage because speaking works in conjunction with consulting and coaching and raising money and many of the other strategies I’ve mentioned.
But you know, speaking is a business in and of itself.
Michael Port, for example, is a very sought after speaker. He’s an author, small business marketing consultant, and a 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 itself. 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.
- Products, courses, and software
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).
And that’s it for the seven different ways to becoming a million-dollar author. Whether you choose to implement one of these plans, a combination of a few, or a version of one of these ideas that’s totally your own, I hope you reach your goal.
If you do choose to integrate one of these plans into your practice, please share which one. I’d love to hear how it goes.