For the past month or two, I shared tips on how to win a publishing deal.
And now I can finally share with you 10 reasons you shouldn’t bother. Yay!
Self-publishing is fabulous. It makes more sense financially and strategically if you are an expert and you want to share your message with the world.
So, let’s hit the ground running with all 10 reasons right up front (then I’ll break ’em down week by week.)
- Fastest return on investment.
- Take less time.
- Cheaper than some “trad” deals.
- Keep focused on the right metrics.
- Simplify your marketing strategy.
- Increase (rather than decrease) returns over time.
- Retain control over editing, design and print quality.
- Reduce waste and costs.
- Access to a distribution deal still possible (if you get an ISBN)
- You can always get a publishing deal later if you have written a best seller (a marked change in attitude on the part of traditional publishers)
And now for Tip #1
Self-publishing delivers the fastest return on the investment of time and money that you spend on your book.
This is a killer — the absolute fundamental of the business-book strategy.
See this graphic. It’s a visual short-cut of the explanation below.
You are an expert; when you publish your book, you become an authority.
As an expert, you sell programs. As an authority, your clients come to you.
Let’s say, for argument, your speaker fee or coaching program is worth $5000. (Hey, if it’s less than that, put your prices up).
You sell three keynotes or programs, and you have paid for all the costs associated with self-publishing your book (let’s say $15,000, but you can do it for less).
Every program you sell from then on is profit on this marketing strategy.
So, if you sell two additional programs a month ($10,000) as a result of your book, the investment will make you a $345,000 return over the three years.
That is a 2300% return on investment.
That’s the end of the debate, isn’t it?