A book is a great passive income product. However, for most Entrepreneurs, the life span of that book bringing in revenue is short lived. Past your first sales of “Momma nem”, an online book launch, and dressing up for a book release party… After that, the sales slow down because the momentum of the spotlight for the book slows down. So the question becomes how do you continue to squeeze more money out of that book? A book can birth an entire business. Sharing your expertise in a book doesn’t just expand your credibility, it can be the start of expanding your revenue. The simple answer is to sell the same information in different formats.
Here are the top 3 ways to do just that:
- Create a journal, planner, or workbook to accompany the book
- Lead a training (webinar or live workshop)
- Create an eCourse (self-paced, modular learning online)
I took my expertise from providing self-publication services to write two books: one on how to write a book and one on how to self-publish. The same information in one of my books became the basis for live workshops on how to write a book. When I realized I could cut the overhead of the live event by having an online event, I created an online training/coaching program to teach first time authors how to write their book. Bookocity, the online training, has had three groups of clients that resulted in published authors in each group. I am currently creating Bookocity as an eCourse, as well as creating a planner to help first time authors to write their first book in 30 days.
First a book, then a series of four other entrepreneurial ventures based off the same information in my book. Are you interested in creating more revenue opportunities in your business? Let’s talk.