Starting Your Own Publishing Company
While it’s many an author’s dream to have their book published, it’s unfortunately, also a rarity. Not only is the process of querying agents and publishing companies a lengthy and daunting one, it’s also one that ends in rejection 95% of the time—even for some whose writing is on the level of best-selling authors.
To avoid rejection and delays in getting their book to their audience, some authors choose self-publishing. You can contract with a company who specializes in self publishing books such as LuLu.com or Amazon.com’s CreateSpace, but in doing so, you’re still giving up some of your profit and handing over the success of your manuscript to someone else. But, did you know that it can be faster and more profitable to publish your book on your own? That’s why some authors are placing their manuscripts in their own hands and starting their own publishing companies.
If you’re a first-time author or the author of several books, the benefits of owning your own publishing company can be well worth the effort involved. There are certain skills which will be necessary, but many authors have successfully mastered the publishing industry. To determine whether you would benefit from owning your own publishing company, let’s look at the skills and steps involved.
1. Are you a good writer, one who is skilled at editing and proofreading? Can you learn the technicalities of formatting a book for print? Getting your manuscript print-ready is an important part of book publishing. If you don’t know how, you’ll have to learn or hire someone to help you.
2. Do you have the marketing skills necessary to give your books the publicity they’ll need to reach your audience? You’ll need a media kit and plenty of time to contact the media, bookstores, newspapers, and radio and television stations. The Internet has also defined itself as a marketing phenomenon and you’ll need to strive for massive exposure there, as well.
3. Do you have the time and desire to make public appearances? To be a successful author, you’ll need to book plenty of signings and interviews to receive maximum exposure and sales.
4. Are you a good businessperson? A publishing company is a business and it will require a financial investment, bookkeeping, inventory, and marketing skills. In return, though, you get to reap the rewards, keep the profit and enjoy the tax deductions it can bring.
5. Do you have an image? Your book cover is a big part of your image and the initial appeal which attracts your readers. Your name is also part of your image and brand, as is the name of your publishing company. Note: Naming your publishing company after yourself isn’t always a good idea. It’s a red flag that your book is self-published. Make your company’s name memorable, but professional, if you don’t want people to know that your book is self published.
6. Your publishing company will need to be licensed with government agencies, so you’ll need to fill out the appropriate forms and request a taxpayer identification number for it. This step will go a long way in establishing your publishing company as a professional entity. While you’re at it, don’t forget to open a business bank account, something that you’re surely going to need for tax purposes and expenditures.
Once you’ve set up your publishing company, you’re ready to get started. Here’s how:
1. Even great books won’t sell if they don’t attract customers. Design a book cover or hire a graphic designer who is experienced in book cover specifications and design to create an eye-catching cover for your book.
2. Purchase an ISBN, which is the publishing industry’s unique identification for your book. It’s also required if you intend to sell books at retail establishments, or independent or major bookstores. To get yours, visit www.isbn.org.
3. Decide how much you will charge for your book. A good rule of thumb is to compare your book to similar books on the market and price it competitively. Pricing it too high will turn off buyers, and pricing it too low might give the impression that your book is inferior. Also take into consideration your costs and how much profit you need to make from each book sold.
3. Hire a printer—look for quality print and good references. You can choose traditional printers or print-on-demand printers, such as LightningSource.com, depending on how many books you initially want printed and the financial investment you’re willing and able to take.
4. After your book is printed, review the galley print, which is a draft of the interior of your book. This is an important step in making sure your manuscript is polished and print ready and the last chance to make any corrections or revisions.
5. Develop a marketing plan and hit it hard. That plan can include interviews, book signings, press releases, virtual and physical book tours, affiliate marketing campaigns, and advertisements. It takes a lot of work to receive the exposure you need to sell a lot of books, but it can be done. You should also know that while you may not sell as many books as an author published with a high-profile traditional book publisher, you also won’t be sharing your profits with them.
6. Last, but not least, your publishing company must have a professional website which promotes its authors. Purchase a domain name and spread the word, driving traffic to your website with updated information, blogs, events, and links to social media like Facebook and Twitter.
As you can see, publishing and promoting a book takes a large investment. The biggest investment you’ll make will be required when publishing your first book. There is a learning process which you’ll have to master, but when it comes time to publish your next book, you’ll be experienced and more efficient.
Running your own publishing company isn’t for everyone. But for those who are dedicated and willing to learn, it’s an investment that can produce rewards down the road. You’ll enjoy full ownership and say-so in your book and how it’s marketed. You’ll also get to stake claim to all of your book and company profits. And, if you’re lucky, you’ll enjoy every author’s dream and have a successful publishing company which will guarantee that you’ll never have to read another rejection letter again.
How to Set a Retail Price for Your Services – Remember, people pay for experiences!
As a business owner, you have many jobs, and one of the most important ones is to determine the costs of your products or services. The number you stamp on them will greatly impact your sales, income, and your success.
Yes, ultimately you have control! But that control has to rely on several other factors when it comes to determining the worth, the value, and the asking price for your goods. If you overprice, nobody will buy them. In essence, you’ll price yourself out of the market. However, if you underprice them, potential customers might be reluctant to invest in what they psychologically deem to be an inferior product.
In our current economy, I am finding that people are willing to spend money on experiences – possibly, life altering services (such as joining Michael Jordan’s Basketball camp in Vegas, learning how to sail a boat in the South Pacific, and writing a book, perhaps! ) – rather than spending money on products that teach you these things (Why read about sailing in the South Pacific, when you can just go do it!). 
Case in point, sales of info-products have steadily decreased for the past few years (The last thing people want is another DVD binder product to place on the book shelf!), while the percentage of people working one-on-one with coaches (dating coaches, business coaches, marketing coaches, life coaches) has been increasing massively. The latter can obviously be more expensive, but people are willing to pay more for quality experiences if they see them as valuable.
So, how do you determine your value? Well, there are several things you can research to determine a realistic price range for your product or service—a price a customer is likely to be willing to pay for the value they will receive. Let’s take a look at them:
1) Do your homework and find out the price of similar goods and services in your area. What are your competitors charging their customers? Is their product or service selling at that price? And, last, does your product or service have more or less value than their offerings? If either, adjust accordingly.
2) Ask previous clients to give you feedback. Did they find value in your product or service? Was it worth what they paid? Did they get more than they expected for the price, or less? If they had to do it again, would they pay the same price for the same product?
3) Test your market. Perform telephone surveys, distribute questionnaires, and try to find out how much your target market is willing to pay for the goods or services you offer. Find out what they like or don’t like about your business, and how they compare it to others within the vicinity. Then, set your price based on their honest feedback.
4) Ask yourself this question, Is your product or service scarce? Let’s face it, there are so many hours in the day. If your coaching practice is keeping you on the phone 40+ hours a week, and you have a wait list of clients wanting to work with you, you are obviously not charging enough for your time. In this case, raising prices will not only make you more money, but will ‘buy’ some of your time back!
Do one or more of these four things and you’re likely to establish an asking price for your product or service that is within the expected range that potential clients will pay. If you overprice, you’ll lose customers to the competition. If you set your price too low, they’ll assume that your product has less value or worth. As you can see, this is one area that’s far too crucial to your success to leave to guesswork. Do your research, do your homework, and you’ll find your answers.
Traditional publishing vs self publishing: A Comic
The reality of traditional publishing...
A writer/editor contractor, whom I often work with often, sent me this comic from The New Yorker magazine. The reality is, whether you self-publish, or publish through a Vanity publisher or traditional publisher, you will have to market your own book. Period! Actually, traditional publishers are only interested in authors (specifically non-fiction authors) who already have a built-in audience, a following, prospects, basically a list of people who are interested in your message.
Did you think writing the book was the hard part? Well, the reality is that marketing is the true challenge….
What is an ISBN and why do I need one?
An ISBN (International Standard Book Number) is a book’s identifier, much like a social security number. It’s a 13-digit number which is applicable worldwide and unique to your book. The ISBN system uses a 13-digit number on the copyright/information page, and it also uses a bar code and number on the back cover.
But what’s it for? I have a lot of people who ask me that question. Do you really need an ISBN?
That depends. Sometimes you do, and sometimes you don’t. It depends on where and how you intend to sell or distribute your book.
The ISBN provides a standard way for publishers to number their products so they cannot be duplicated by other publishers. You need an ISBN if you are going to sell your book in bookstores, through retailers, or online storefronts, like Amazon.com. There are no exceptions—if you’re going to sell your book in the traditional marketplace, you must have an ISBN.
That’s the big advantage to having an ISBN, and one that is usually the driving force behind acquiring one.
However, if you don’t intend to sell your book through any of the avenues mentioned above, you don’t really need an ISBN. For instance, if your book is a free promotional item that you’ll give away or package with another product, it doesn’t really need an ISBN. Or, if you use your book as a business card, distributing it free to potential clients, it’s not necessary to have an ISBN. Also, if your book will be sold solely at the back of the room during your speaking events, you won’t need an ISBN.
What are the advantages and disadvantages of an ISBN?
1. Advantage: You can sell your book in brick and mortar stores. By scanning the bar code, retailers identify the book title, publisher, and author, ensuring that you are credited with the sale and that their inventory is updated with each purchase.
2. Disadvantage: ISBNs, both the numbers and the bar code, cost money. Getting both in a package costs around $150, but you can check for current prices at Bowker.com
or BowkerLink.com, who is the exclusive supplier of ISBNs.
3. Advantage: An ISBN gives your book credibility to others. It’s viewed as a symbol of prestige to your book. By the way, the absence of an ISBN is one sign that your book is not published through a traditional mainstream publisher.
4. Disadvantage: It takes up to six weeks to receive your book’s ISBN, so if you’re not going to sell it through retail stores or on line sites which require it, it might cause an unnecessary delay in your book’s release.
5. Advantage: Purchasing an ISBN for your book puts it in the worldwide catalog of published books. You must be included in this catalog if you want your book available in libraries.
Given those points, the determining factor in whether you need an ISBN is how you intend to distribute or market it. Even if you aren’t going to sell your book through online or retail vendors, you might want to order an ISBN anyway, leaving the option open later should you change your mind. It’s your call—only you know the value that an ISBN will give to your particular book. Only you can determine the advantages it will bring to you in terms of sales and credibility.
Want to be an Amazon.com Bestseller: 3 Tips to get it right…
In my business, I encounter many people who want to go from being an author t
o being a bestselling author, particularly on Amazon.com. One of the most frequent inquiries I receive is how to become one. Well, there are ways. For starters, you can hire an expert at the rate of $20,000 plus to orchestrate a bestselling campaign for you, or you can do it yourself. The downside of doing it yourself is that most people simply don’t know where to begin or how to direct their energies to make it happen. That’s why I have provided the following three essential tips to become an Amazon.com bestseller. While there are no guarantees, following these tips, along with the support of a coach or mentor, have given many authors the level of success they’ve been looking for. So, let’s get started:
1. Ensure your book is appropriately placed in the correct browse and sub-categories.
Certainly, if you want your book to be a bestseller on Amazon, you’d love to see it ranking in the ‘Top Twenty overall category. But, you’ll see much more progress and have more success if you strive to become number one in a specific topic or sub-category. It’s also much easier to achieve bestselling status within a specific category than it is to hit the top 20 ceiling.
By categorizing your book correctly, people who are interested in books on your topic will be steered your way. When they review your book, they’ll see that it ranks number one in that category. Wow, that’s just what they were looking for! A bestselling book on a particular topic that is of interest to them. Besides that, becoming number one in a certain category will contribute toward raising your book’s sales rank in the “overall” category, as well. And even though your book is a bestseller only in one category, you still get the boasting rights of being an Amazon.com number one bestseller.
2. Ensure your book is available on POD (with a guarantee of 100 on stock) or there is at least 500 books on site at the Amazon warehouse.
If your book is not available and in stock at Amazon, or available via print-on-demand (POD) through a reputable POD company or Ingram distributor, your book will read OUT OF STOCK. Of course, when a book is out of stock, people don’t purchase it—it’s not available. Thus, you want to avoid the “out of stock” notation because it really discourages sales. Unless you’re famous or already have achieved notoriety as a bestselling author, Amazon.com will only keep on hand minimal numbers of your book. When they witness a steady sales flow, they’ll increase that number. Amazon.com makes it difficult for self-publishers or Independent publishers to provide stock-up requests, so you want to make sure you research this thoroughly before conduct your campaign. You don’t want to send 200 people to Amazon.com to buy your book if they only have 12 books on hand.
3. Select an appropriate Amazon.com bestseller date.
Amazon.com uses a formula to determine your book’s rank. The fastest and easiest way to move up the sales rank is to select one date to market to the masses. Heavy sales on one day will move you past the competition into bestseller status. However, you don’t want to pick just any day out of thin air. Other authors are using this strategic tactic, too. Look at your competition. Find out when their books are going to be released and choose a different day. It will not serve you well if your campaign push falls on the same day that the next Harry Potter book is released. Choose dates wisely – do your research.
There’s more to becoming a bestselling author than writing a great book—you have to know the inside tips to creating sales. Following these three tips are critical in achieving that status.
Want more help becoming an Amazon.com bestseller, listen to this.
More information about Amazon.com Bestseller Program, click Amazon Bestseller Homestudy Program.
6 Advantages of Amazon Bestseller Status
The Secrets of Female Sexuality places #8 overall...
As I’ve coached authors, helping them make their book a business, I’ve had a front row seat to their success. A successful book is quite a feat, but I’ve witnessed firsthand how transformational it is when a book reaches bestseller status. The perks are phenomenal!
Why should anyone want to be a bestselling author? Here’s a quick list of the benefits:
If your book becomes a bestseller:
- You get bragging rights! And you’ll deserve them! Very few authors achieve bestselling status, so when you uncover the secret to marketing your book the right way, you are among the cream of the crop. That’s something to talk about. It also helps you to create more buzz about your book and the interest it receives.
- You can add the title “Amazon bestseller” to your marketing materials and website. Everyone knows Amazon, and everyone knows that to become an Amazon bestseller, you have to beat a lot of competition. There are millions of books available through Amazon, so when you become a bestseller, you’ve earned a prestigious title that is more than an opinion—it’s indisputable and based entirely on fact—sales numbers which outrank all the rest!
- People can introduce you as an “Amazon bestseller” before radio and TV interviews or speaking engagements. Being called an “Amazon bestseller” automatically provides you with credentials. It makes you an expert in your field, stating that you have something different to say and that people want to hear it. It’s an accomplishment that automatically portrays success.
- You gain credibility in the corporate world. As an author, you are one of millions. As a bestselling author, your commendable achievement is acknowledged. Suddenly, you’ll become a sought-after speaker or consultant to businesses who place great value on credentials and accomplishments.
- You establish yourself as an expert in your field. If you want to be an expert, write a book. If you want everyone to agree that you’re an expert, write a bestselling book. When you’ve written one of the top ten books in your industry, your expertise will have much more value and people will view you as the authority on your topic.
- You can distribute a press release the next day – toting the fact you are a bestseller. By quickly getting the word out that your book is a bestseller, you spark more interest, accolades, and prestige. A press release that once might have gotten buried will go to the top of the pile when it touts such a remarkable achievement. When it does, you’ll benefit from the speaking engagements, interviews, and articles it will produce.
Best of all, your bestseller placement puts you in front of an audience that may have never heard of you at all. Once Amazon and Google know who you are, the sky is the limit.
- Final numbers for October 7, 2009
How I Became an Amazon.com Bestseller and How You Can Too!
More information about Amazon.com Bestseller Program, click Amazon Bestseller Homestudy Program
CALL-IN DETAILS
Host Name: Sally Shields and Alicia Dunams
Teleseminar: How to become an Amazon.com Bestseller!
DATE & TIME: Tuesday, October 13th at 9:00pm Eastern
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://instantTeleseminar.com/?eventid=9506163
3 Tips to Become an Amazon.com Bestseller…
As of 9:58 am PST, my client and colleague David Shade became an Amazon.com bestseller.
There are many authors, or wanna-be authors, who also want to achieve this status, and I always get inquiries on how one becomes an Amazon.com bestseller. Well, you can pay an expert 20K + to orchestrate the campaign for you (Currently, I charge anywhere from 12 to 15K to coach and strategize all of the intricacies of a bestseller and book launch campaign for my clients.) Or you can do it yourself, which is tough if you don’t know where to begin (see 3 tips below to help you get started). Or, there is always something in between.
And with that, here are the following programs I recommend:
My friend, colleague and best-selling author, Sally Shields has crafted an amazing program called the Amazon Bestseller and Free Publicity 101 Homestudy Program. She walks you step-by-step through the Amazon Bestseller Campaign Process, and shows you exactly what you need to become a Amazon bestseller and garner FREE national publicity. *An aside: I just spoke to Sally today and she was taping the Rachel Ray Show – so this woman is definitely someone to follow!
Also, if you are a wanna-be author who needs to write their book before they even think about becoming a bestseller, you want to check out my coaching course and product, The 17-Day Book Challenge. In this course, I coach you on how to get your book done in less than 17 days, as well as develop your book marketing plan, which goes into depth in launching your book and making it an Amazon.com bestseller. I’ve gotten steller reviews about the 17-Day Book Challenge, which also includes as a bonus a private 1-on-1 60-minute telecoaching call with me.
Nonetheless, if you do decide to ‘go it alone’, here are a few tips to get you on your way to being an Amazon.com bestseller:
1. * Ensure your book is placed in the correct browse and sub-categories.
As you see from the screen shot, David’s book is not only in the top-20 overall, but is #1 in specific sub-categories. That way, people interested in dating topics will see it’s the #1 book of the day. Also, this step is crucial, because it is much harder to become an Amazon.com “Overall” bestseller. The chances you are a bestseller in a specific category are greater.
2.* Ensure your book is available on POD (with a guarantee of 100 on stock) or there is at least 500 books on site at the Amazon warehouse.
If you book is not available in-stock at Amazon, or available on print-on-demand (POD) through a reputable POD company or Ingram distributor, your book will read OUT OF STOCK and discourage sales. Amazon.com makes it difficult for self-publisher or Independent publishers to provide stock-up requests, so you want to make sure you research this thoroughly before conduct your campaign.
3.*Select an appropriate Amazon.com bestseller date..
Authors don’t normally do these campaigns on days that Harry Potter or a similar powerhouse book comes out. Choose dates wisely – do your research.
Of course, I hope this information helps. If you want further support, I offer 15-minute complimentary sessions to discuss what is the best route to go! – To your success – AD
How to Attract Customers with your Book Title
Being Fat Sucks!
It’s not easy for an author to create buzz about his or her book. That’s especially true for first-time authors who don’t yet have a following. But, it’s not impossible, and a couple authors have found a unique and effective way to attract readers.
Experienced authors know that the competition is fierce. In order to vie other authors for you percentage of sales, you need a lot of PR and marketing. To get the word out and brand your name and message, you have to cut through the clutter and find your own niche—your own market. One great way to do that is to give your book an irreverent, controversial title that will attract curiosity, promote conversation and create “shock and awe.”
What's Your Poo Telling You?
Recently, two books which have used this concept have demonstrated its value: Being Fat Sucks by Lisa Lewis, and What’s Your Poo Telling You, a book penned by a doctor who coincidentally calls himself Dr. Stool. Think about it—how many people do you know who would rush out to buy a book about poo? Not many, I’m sure. But by writing about the subject in a comical way, complete with some very innovative illustrations, Dr. Stool has turned a serious and dry medical topic into a novelty or gift book, earning it a strategic placement next to the cash register at major book retail stores. Because he made light of a serious medical concern, millions have been entertained while they were educated on the importance of looking in the toilet.
My client, author Lisa Lewis, had a similar approach. She wrote Being Fat Sucks in such a way that it would hit people in gut and sock them in their ego. The title tells it like it is, and so does the book, which is why Lewis was able to take a personal development story and use it to create an individual brand as a frank, open, and sincere speaker and weight-loss consultant.
The end result? Both have authored business books in the self-help genre which are successfully marketing their message, building their brand, and establishing themselves as experts, while benefiting from their book’s profits.
So, when you’re writing your book, look at it from all angles. Is there a better way you can position yourself within the industry, attracting more readers and becoming a household name? Whether it’s changing your title or the delivery of your message, find the best way to create a buzz about your book and attract more readers than the competition. You’re unique, and your book should be, too.
Check out the books today!
What’s Your Poo Telling You?
Being Fat Sucks!
She wrote an entire manuscript in just 17 days… really she did!
Actress, entrepreneur and teacher, Melissa Steach, wrote her book in just 17 days. Now she feels totally empowered, because she has the skills to publish her book, market her message, and make more money. Listen to her story:
