Featured Coaching Excerpt - Notes & Transcript, Part 1
Today's Guest: Thriver of the Month - Jon Tucker
Pros of Self-Publishing: 1. Print on demand
Pros of Self-Publishing: 2. Less overhead
Lesson Nugget: If you can't sell, then your business idea won't succeed.
Pros of Self-Publishing: 3. More profit per book
- It's part of my package, you're gonna get this three ringed bound binder and my book. The total package is $39, and people will buy it because it has valuable content that they want at their workshops.
- All right, Thrivers, we are back. We're talking about self-publishing again, and a lot of Thrivers, they've been asking, hey, should I self-publish, should I not self-publish, and I'm an author, and I wanna get my book out into the marketplace, and so what is this whole world about, self-publishing? Okay, so we have our Thriver of the month, John Tucker here. John, thank you for joining us.
- [John] Thank you for having me.
- And we have Clay Clark, somebody who has self-published before.
- [Clay] Yeah.
- And he's gonna walk us through a little bit more of the specifics, the pros and the cons of self-publishing. But Clay let's go ahead and start with the pros, okay?
- Well, the pros of self-publishing, really you have just a couple of them, that I think they're notable. Some might seem a little bit obvious, but I think we need to get a little context here to them is one is you can print them on demand. A very, very good friend of mine who I worked with, he became a best selling author, New York Times best seller. Problem is, his second book did not sell well, did not sell well at all, and so he went ahead though, and bought advanced copies of his book 'cause you can work out deals with the publishers where you go; hey, I know my book's gonna do so well, I'll go ahead and buy 10000 copies. Well first off, what does 10000 copies look like of something? I mean he has a whole garage, I'm not kidding stacked; he still has it absolutely packed with books, and they're about six bucks a piece, five bucks a piece, four dollars a piece, the more you buy, three dol... So you got $50000 of inventory sitting in your garage. So if you have $50000 of inventory in your garage, the pro of self-publishing is that you can print them on demand. A person can click on Amazon, buy a book, and they'll make the book when there's a demand, so they don't print it until there's a demand. That's a pretty cool thing. The second thing is there's less overhead like we talked about, so it's just, it saves you a massive amount of money by having, not having to buy all those books up front. And the third is that your profit per book is almost ridiculous. I mean you can print the book for $3, and you can sell them for 15 or 20. I know a lot of really, really good authors that sell very, very small books; 50 bucks, 30 bucks, 20 bucks. This is at a conference, and they say hey, it's a part of my package; you're gonna get this three ringed bound binder, and my book. The total package is $39, and people will buy it because it has valuable content that they want at their workshops, and they're printing them for $4, so I mean the profit's great. The only thing about it is that if you're self-publishing, those pros all don't matter if you can't sell. It's probably crude, but I always tell people if you can't sell, then your business idea goes to hell. I mean it's uhh, but it's the kind of a thing, so at the end of the day, all those pros don't matter if you're not selling anything. So this is all based off of the construct that you are selling things. So for me as an author, one of the highlights of my career that was kind of fun is I was at Barnes & Noble, and I was there looking for a book on entrepreneurship, and in specific I was looking for one on some Internet marketing, and I go in there, and there's my book; Make Your Life Epic, my book that I wrote, my kind of journey from startup to being very profitable was there at Barnes & Noble. And what happened is regionally I had sold so many off my ISBN number, it's like your serial number for your book, that they were like, oh yeah, this guy's from Tulsa, he's sold a bunch of copies, we'll start carrying them. And then a buddy who works in our office, sent me a text and goes; dude, your book, I just saw it at Borders, and it was just fun to kind of see that. But self-publishing doesn't really matter, all of these pros don't matter unless you can sell it, and so in our previous trainings together we've talked a lot about how to get it out there, but what questions do you have about those pros?
- Well, I'm aware of most of those.
- Is there any big question that you're kinda going, you know I don't quite.
- The pros all come with this one major, major con, which is there's no guaranteed sales.
- Which takes us into our next...
- That's it.
- Next part here.
Featured Coaching Excerpt - Notes & Transcript, Part 2
Lesson Nugget: Pros of Self-Publishing:
1. Print on demand
2. Less overhead
3. More profit per book
Fun Factoid: Self-publishing is the fastest growing segment of the publishing industry; authors find it attractive for many reasons. Unlike using traditional publishing companies, self-publishing allows the author to be in control of the entire creative and selling process. (http://www.morrispublishing.com/why/whatsp.asp)
Editor's Note: http://www.RipoffReport.com
Editor's Note: Email us at firstname.lastname@example.org or call 800-594-4457
Lesson Nugget: No one cares more about you than YOU!
- Okay, so we're talking about the pros I just want to recap them for you. We have the printing on demand. So if Thrivers are a little bit more unfamiliar with that, I am just going to drill into that just a little bit more. You are printing a run of books, and they can be a smaller run of books, because you are printing them on demand. The printer, the publisher, whoever is printing the books for you. You send them, hey, I need this many books.
- Kind of an additional con, is because you are dealing with small companies that are helping small authors, a lot of them are cons. Like, the Wrath of Con, no. But like a convict, maybe, like a con-artist, like "hey pay me up front for 1,000 books, and then I move to Detroit." So I have a lot of people that I've seen over the years, who've run into some really bad companies as it relates to this. So I would recommend you find a reputable self publishing option. I would not use, one lady called me, unbelievable, I was so mad at her, so mad when I found out what was going on. I didn't pay her, but I was so mad. She called me and said "Clay, we saw you speak at this event, we'd love to help you self publish, my husband and I that's what we do." Okay. "Yeah what we'll do is for 25,000 dollars, upfront, we'll set up your book for you, we'll do this, we'll get you on Amazon, we'll get you here. We'll help you. " And I'm just doing some Google searching and I find that that was her move. And she would call you and coach you into believing that you're the next big thing. So all these people on Ripoff Report were saying yeah she'll call you and say your book is profound, it needs to be written. She normally charges 50,000, but she's only going to charge you 20, because she just believes in your deal so much. And for seven payments of 3,000 a month, you can get it. You kind of like when people say good things about you, right? So she took advantage of that human desire to feel appreciated and she was running around the country telling people who had won business awards "Hey Marshall, I love what you're doing here for the HR industry. Clay, I love what you're doing for the Small Buisness Administration. I love what your talking about with your book about bicycle riding. The world needs that book! And normally I charge 50, but for 20,000 I'll go ahead." And you get that a lot in self publishing. So, Thrivers if you need recommendations, we can certainly recommend reputable printing services for you.
- Ok, so the pros, printing on demand as needed. Printing as needed The second is less overhead. You don't have to invest as much as you would if you were going through a big time publisher. And then the third is you ultimately will have more profit per book, because you are not paying the publisher. There isn't a huge investment up front. So you actually make more money on the return.
- Well, and they're also notorious for making crappy covers, crappy chapters, spelling errors everywhere. So I'm just saying, you have to set the standard. And no one cares more about you than you. But you have to really set standards when dealing with most self publishing companies.
- Okay, so those are the pros of self publishing a book.