Written by: Sierra Melcher, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
In a world obsessed with success stories of overnight sensations and blockbuster books, many aspiring entrepreneurs dream of writing a book that will catapult them into the realms of riches and fame. However, the harsh reality is that royalties alone won't pay the rent! Daily I have conversations with aspiring authors and teach the following truths; if you can embrace them you are way ahead of the curve.
Royalties won't pay the rent
Let's get one thing straight – if you're penning a book with the primary goal of becoming rich overnight, you might want to reconsider. The truth is, that only a small percentage of authors strike gold with bestsellers that consistently generate substantial royalties. Most first-time authors find that their royalty checks are modest, requiring supplementary income to sustain
themselves. However, this reality shouldn't discourage you; rather, it's an opportunity to explore the additional benefits that writing a book can offer. Remember royalties are not the only way to earn income from publishing a book.
Establishing authority
One of the most powerful outcomes of writing a book is the opportunity to establish yourself as an authority in your field. Regardless of the industry, a well-written and insightful book can position you as a thought leader, earning the trust and respect of your peers and potential clients. When people perceive you as an expert, doors open, and opportunities arise. Your book becomes a powerful tool that sets you apart in a crowded marketplace, paving the way for speaking engagements, collaborations, and business partnerships.
Generating Qualified Leads: (connecting with the people who need your message) Beyond the allure of royalties, entrepreneurs should recognize the potential for generating qualified leads through their books. A well-crafted book can attract a targeted audience interested in your expertise, products, or services. You can convert readers into valuable leads by strategically incorporating calls-to-action within your book, such as links to your website or exclusive offers. These leads, genuinely interested in what you have to offer, can prove more beneficial than any monetary gain from royalties alone.
Earning money – But not the way you think
While the royalties from book sales may not make you an instant millionaire, the avenues for earning money from a book extend far beyond the traditional publishing model. Entrepreneurs can leverage their books to create additional income streams, such as speaking engagements, consulting services, online courses, and workshops. The book becomes a catalyst for diversifying revenue streams, allowing you to monetize your expertise in various ways. In this sense, the book serves as a strategic tool in building a sustainable and profitable business.
At Red Thread Publishing we focus on three things: WRITE. PUBLISH.IMPACT. We teach authors how to make a successful book so we teach these essentials regularly. Think about your book in out-of-the-box ways and you will find it more fulfilling & rewarding.
Conclusion
In the pursuit of entrepreneurship, writing a book may not guarantee instant wealth or fame, but its potential benefits extend far beyond monetary gains. Establishing authority, generating qualified leads, and creating diverse income streams are just a few of the invaluable outcomes that make the journey worthwhile. So, aspiring entrepreneurs, embrace the process of writing a book not just for the royalties but for the doors it opens and the impact it can have on your professional journey.
Certainly! Here are the first three crucial steps an aspiring author can take
Define your purpose and audience
Before you start writing, clearly define the purpose of your book. Ask yourself why you want to write it and what message you want to convey. Understanding your purpose will guide your writing and keep your content focused.
Identify your target audience. Knowing who you are writing for will help you tailor your message, tone, and content to resonate with the people you want to reach.
Create a writing plan
Set realistic goals and deadlines for your writing. Whether you plan to write a certain number of words each day or dedicate specific hours to writing, having a plan will help you stay on track.
Create an outline for your book. This doesn't need to be overly detailed, but having a general structure will provide a roadmap for your writing journey. It can evolve as you go, but starting with an outline will prevent you from feeling lost.
Establish a writing routine: (but not a dogma)
Find a writing routine that works for you. Whether you're a morning person or prefer late-night sessions, consistency is key. Set aside dedicated time to make progress on your book.
Connect with a community of other writers
Create a conducive writing environment. Minimize distractions and make your writing space comfortable.
Don't wait for inspiration to strike. You can invite inspiration (ask me how).
Be willing to do it badly, a lot [Read Typo: The Art of Imperfect Creation. Permission to do it badly]
Remember, the journey of writing a book is unique to each author, so adapt these steps to fit your style and goals. Good luck on your writing journey! Reach out if you need guidance or support; YOU ARE NOT ALONE!
“Your book can change the world, but only if you write it” – Sierra Melcher, founder of Red Thread Publishing
Sierra Melcher, Executive Contributor Brainz Magazine
Best-selling author, international speaker & educator, Sierra Melcher is founder of Red Thread Publishing LLC. She leads an all-female publishing company, with a mission to support 10,000 women to become successful published authors & thought-leaders. Offering world-class coaching & courses that focus on community, collaboration, and a uniquely feminine approach at every stage of the author process. Sierra has a Master’s degree in education, has spoken & taught around the world. Originally from the United States, Sierra lives in Medellin, Colombia with her young daughter.
