by Ray Brehm
Welcome to the Bestseller Revolution Podcast.
I wanted to spell this myth #3 about Writing a Book. And this is one when you’ve actually got the book done. So you got over those pair, if you looked at myths #1 and #2 that I’ve talked about, myth #3 is once you’ve got a book done here, it is you get bestseller, and can make money on autopilot.
Myth #3 the exact title is, when I write a book the book makes me money on autopilot. And then what happens here? My book is a bestseller, but hey, where’s the beef? Where’s all the money? Well, let me explain what happens.
Most book sales are made on Amazon anyway, at 99 cents. At 99 cents, your royalty is 35% which gives you 35 cents a book. So to make $1000 in a month you would need to sell 2858 copies after your advertising costs. So whatever your costs were, you would have to add some more copies. But let’s just say you had zero advertising costs. You still had to sell 2858 books.
Most books only ever sell less than 200 copies. That’s a typo, the dollar sign, but anyway that’s still making my point for me. It’ll sell less than 200 copies and most of the courses out there and people are trying to teach you to sell more copies, which is a lesson in futility. Now resistance is futile, right? From the old Star Wars stuff.
The truth is, royalties are going to fall off after the initial surge. Yes you can play the algorithm, and you should, and you should build that up, if you launch it the right way the algorithm should stay intact for you, and even though it’s going to come down a little it should still send you a lot of books.
But you gotta sell, people aren’t selling 2858 books. Most of the authors you’ve heard of aren’t doing that. Just a few that are really in the top tier. So you’re advertising a royalty system, that’s just part of the plan. It’s not the endgame. The real money from a book is in building a list, your own list, and as an intro to your other products and services.
Now if you take a look, guess what? Most of the people entering Brendon Burchard’s life, and he mentioned it back in December, were people that read his books. But guess what he’s got for them waiting on the other side? Once they read his books they get exposed to Experts Academy, high performance academy, high performance coaching, all you know, the total business blueprint.
All his courses come, and most of them come into the world either through his social media and so forth, or through books. Like you can listen to somebody on social media but if you really want to know if they’ve got something to teach, you can read a book and just feel comfortable with them, well that’s what happens. But he’s not relying on that book income, he’s relying, his by far, his money-makers are these courses and his live events, and his coaching and so forth.
So that’s that. Same with Amy Porterfield, here’s a couple of her things. She’s got a ton of stuff too, right? Courses that convert, a list-builders lab. So these are a couple of courses that are just on the back end of her books. And this is where the money’s at.
Some people also think, “Well I don’t have a full product,” or, “I can’t do the tech stuff.” Well the cool thing is, you can get a book funnel up and running using somebody else’s template with the click of a button using Click Funnels or Card Sure or something like that. There’s processes you can follow to get it done, or you can even outsource it inexpensively with people. There’s these funnel fix-it guys I’m using for funnels, they’re unbelievably inexpensive.
So it’s much easier to make money with your back end products than chasing pennies trying to maximize your royalties. Yet that’s what I see like you know, you get 1% of the people out there that even actually write a book. And then of that 1%, like 99% of that 1% is sitting there chasing royalties when you could just make a switch in mindset and say, make 10 to 15 times as much right off the bat by just selling a $47 course on the back end of your book.
So this should be part of your master plan, I hope you think of it that way, and I’m going to give you some answers for it in Bestseller University coming out in the 2019 edition. You’re going to have some great stuff in there. We are going to be the only course, it’s going to be world-class, only course during the launch that has a plan for you, you know, getting to bestseller is like only halfway through, or two-thirds of the way through, right?
And then it’s turning it into an engine of your business so I hope that helps, and dispels the myth that you’re going to get rich on royalties. You’re going to get rich on your knowledge, helping others with your courses and your back end products, your coaching, whatever it is.
Hope that helps, talk to you soon.