Writing a book is a smart idea to build business for a few reasons:
1. It’s a great way to set yourself up as an expert
2. Publishing a book is an impressive rite of passage
3. It provides your first pass at earning passive income
So, I am all for books! Yet they do have one big limitation – the amount of money you can earn. When you are building a business, you want to maximize your earnings from each project – working less and enjoying more right? Unless you have an enormous and ever growing list, it won’t be easy to generate a significant income from a book which is usually priced between $20 and $30. This is the standard pricing in the book industry and it is difficult to convey greater value in order to charge a significantly higher price. Only a small percentage of authors get rich just from book sales.
However, you can take this very same material and turn your book into an information product which has a much higher perceived value. For the same information you can find in a $30 book, you could sell it for $299 to as much as $1,000 by expanding the offering.
For example, take your book, add a couple of audios on CD, throw in a few worksheets, plus fax-in or email critiques and voila! You have a value information product. I talk about this in the Mindset and Marketing Breakthroughs Workshop in a Box. It’s relatively simple to create these products with my resources and vendors.
So, if you have already written a book, this is your next step to build a great deal more passive income. And if you are thinking about writing a book, consider how you can expand the concept to include audio CD’s, worksheets and access to you personally so you can set a much higher price.
Step away from the book paradigm and you will be able to charge a good deal more. Working smarter like this will help you achieve your income goals faster with not much more effort or cost.
Your Client Attraction Assignment
Take a look at the products you currently offer. How can you expand or build on them to create a valuable information product? Take the time to brainstorm about what you can produce easily – it will be well worth the investment for your overall bottom line.
Fabienne Fredrickson is founder of ClientAttraction.com, ranked on the Inc. 500/5000 List of America’s Fastest Growing Private Companies in 2011. ClientAttraction.com is devoted to teaching entrepreneurs around the world how to consistently attract ideal, high-paying clients, put their marketing on autopilot, shift their mindset towards abundance and take a no-excuses approach to creating a highly successful and meaningful business, while working less. Through her workshops, courses, coaching programs, and products, Fabienne shows her students how to go from 5-figures to 6-figures in their business and then from 6-figures to 7-figures, while experiencing freedom and creating an abundant life they love.
To order Fabienne’s FREE Audio CD, “How to Attract All the Clients You Need” by mail and receive her weekly marketing & success mindset articles on attracting more high-paying clients and dramatically increasing your income, visit www.clientattraction.com.