Monetizing Your Book Beyond Royalties

Welcome to the latest newsletter
of Million Dollar Author!

I'm Travis Cody & I have over 15 published books, as well as a rich history of working as a screenwriter in Hollywood. I am bringing you the latest insights and tips from the trenches of the publishing world. Whether you're working on your first manuscript or polishing your latest masterpiece, my mission is to help you unlock your full potential and become a Million Dollar Author. Weeky, we will go over strategies that can transform your approach to writing, editing, & marketing so that you feel confident to get your book done! Let’s get started!

Let's explore the hidden six-figure business model behind bestselling books.

Beyond Royalties

Book royalties are just one revenue stream, and not the most lucrative.

Here are other ways to monetize your book:

Freemium Model: Publish your book for free on Amazon and monetize through:

1. 1. Audiobooks: Offer a discounted audiobook version.
  2. Email Offers: Use the first page of your book to offer valuable content in exchange for email addresses. Build your list and market to them.

Crowdfunding: Raise funds before publishing through platforms like Kickstarter. Successful examples include:

1. 1. John Lee Dumas’s "Freedom Journal" ($453,803)
  2. Eric Ries’s "The Leader's Guide" ($588,903)

Bulk Sales - sell your book in bulk to:

1. 1. Corporations
  2. Libraries
  3. Colleges
  4. Prisons (an often overlooked market)
  5. Costco (requires a large upfront investment but can lead to massive sales)

Digital Sales: Transform your book into a course or program and sell it at a premium price. Clickbank is a popular platform for this model.

Infomercial/Webinars: Use infomercials, live casts, or webinars to sell your book and related services. Tony Robbins and Dean Graziosi have successfully used this model.

Book Funnel: This is a powerful way to grow your business. Here’s how it works:

1. 1. Publish your book on Amazon and list it for free or at a low price.
  2. Promote your book through ads, email marketing, and social media.
  3. Offer additional services or products to readers.
  4. Build your email list and nurture leads into clients.

Case Study: The Power of an Expert/Authority Positioning Book

I recently worked with a financial advisor who used his book to transform his business. By positioning himself as an expert, he:

- - Attracted higher-quality clients
  - Increased speaking engagements
  - Boosted his media appearances
  - Saw a 30% increase in revenue within a year

The right book can be a game-changer for your business. It’s not just about sales but about positioning, credibility, and influence. Don’t wait any longer to write and publish your Expert/Authority Positioning Book.