How To Create Multiple Income Streams With Your Book(s)

by Cherry-Ann Carew

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Every savvy solo/entrepreneur knows the importance of increasing the lifetime value of their customers, since it’s easier to sell to previous buyers than it is to get new ones, and the sensible way to do so is to create multiple items that fit their needs. Producing information products enables you to take your business to another level that ultimately leads to multiple income streams.

Let’s look at a scenario – you publish a book and instantaneously you become part of a community with instant credibility. Why? Because authors are seen as unique – it’s a societal thing. When you are introduced to someone as an author, the first notion is that he must know what he’s talking about to have written a book; therefore he must be an expert. This is the power of imparting knowledge in book form; you are automatically deemed an expert even if you don’t consider yourself as such.

And if you are perceived as an expert in a particular area, when people are looking for services, programs or products, you’ll be the person they will look to. Or if your book is recommended and the person wants to know more about you and your business, she will invest in your book. This is not to be underestimated; it’s incredible power and can provide many opportunities for you.

Let’s say your goal is to build a business around writing and publishing books – you want to launch a book empire. You churn out a series of books, along with setting up a website to promote and market those books, branding yourself as the go-to person in a specific niche, say wedding planning.

Your books are about selecting the picture perfect wedding gown, flowers, getting married abroad, honeymoon, etc. etc. Each micro niche gives you more selling opportunities, because instead of selling only your books, you can use them as leverage and create products that can be replicated and sold over and over again.

In fact, even if your goal is not based upon writing and publishing numerous books per se, you most certainly can write a book and still create multiple income streams.

How to Quickly Write a Book

The quickest and easiest way to write your book is to record it, have it transcribed and you have a draft. Audacity or Acoustica are popular recording softwares. In addition, most computers already have ‘Speech Recognition’ software that you can use to dictate text into a word-processing program. Dragon Speak Naturally software provides the same function. You can employ the services of a transcriptionist from www.idictate.com, www.voicebase.com, elance.com, or odesk.com.

Whichever method you use, all that’s left to do is to organize the material so that it has a structured beginning, middle and end.

Organize your material into chapters then sub-chapters. You can modify as necessary, as you may find that you need to transpose certain sections.

Do spend the necessary time to write the Introduction. This is really important, as the majority of e-book-selling websites, e.g. Amazon.com, gives readers the option to view the first pages and that naturally includes the introduction. If you lose readers at this point, you lose them forever. Here are three tips to bear in mind when writing an introduction.

  • Aim to inform and entertain by using informal language and avoid overuse of jargon.

Use facts and figures, quotes and, or, a case study that will let readers see that they are not alone. For instance, if a reader always wanted to write a book, you can quote writer Joseph Epstein, who said, “81 percent of Americans feel that they have a book in them — and should write it.” Or, “There is no greater agony than bearing an untold story inside you.” ― Maya Angelou.

  • Provide readers with a taste of what to expect to get them interested and excited to read on.
  1. Be wary of writing fluff to make up words. If the information can be condensed or eliminated, do it.
  2. Conclusions represent the end goal for the reader, so ensure that by the time he’s reached the end, he understands at least the fundamental principles about the topic you’re written about.
  3. Review, revise and edit until you’re confident the readers’ goals have been met and the document is free of errors.
  4. Format the document into an eBook and paperback, or outsource the process. You can find great outsourcers at eLance.com, odesk.com and Fiverr.com.

Creating Multiple Products From Your Book

Once the book is done, the magic begins, whereby you can create multiple products from that single book. For instance:

  • Audio Book
  • Special Report
  • White Paper
  • Workbook
  • Templates
  • Action Plan
  • Booklet
  • Checklist
  • Mind Map
  • Cheat Sheet
  • MP3 Audios
  • Audio CDs
  • Podcasts
  • Video Tutorials
  • E-Course
  • Home Study Course
  • Multi-media Products

How to Package Your Products to Create Multiple Income Streams

From the above, you can now package and sell your products to generate multiple income streams. Here are a few ways to do so:

  • Sell your Special Report, White Paper, eBook, Audio Book, Transcript and Mind Map as an individual entity.
  • Bundle and sell your eBook with the Audio book, along with your Mind Map.
  • Bundle and sell a workbook, Transcript, Action Plan and Templates.
  • Create an E-Course that’s delivered by email and include templates and, or cheat sheet as a bonus.
  • Create Podcasts and place on iTunes directory and charge a fee.
  • Create a multi-media system in a box that includes CDs, Workbook and Transcript.
  • Combine all three media elements (MP3 Audio, Video, CDs) and market as a high-ticket digital item.
  • Break up the content and drip feed it via a membership site and charge a monthly fee.
  • Break the content into articles and add to a paid blog.
  • Create video tutorials and include transcripts.

Many of these bundles can range from $17 to upwards of $1,500 for a single sale.
In addition, the ability to reach customers globally is easy with the Internet regardless of where you operate your business. But to reach them, you need to market your business and with the wonderful products you’ve created, you can use them for that very purpose as well, not only for selling. For instance, you can:

  • Use the book, special report, white paper, or mind map as a lead generator gift if you are partaking in a giveaway or summit.
  • Use a book chapter as a free gift with opt-in.
  • Use content from the book for your book description.
  • Select parts to use for your blog posts and guest posts.
  • Create a series of articles and submit them to article directories, e.g. ezinearticles.com. A fantastic resource for those who are curating articles on your topic, thereby giving you further exposure.
  • Extract sections and Tweet and use for Facebook comments.
  • Create quotes and share on any social mediums.
  • Extract a quote for your press release.
  • Add quotes on infographics (you can use PowerPoint for this) and place on slide share, Instagram, other social mediums, your blog, website etc.
  • Extract sections and use in your newsletter, speeches, presentations, teleseminars, webinars, sales letter, Internet/radio and TV interviews, online and physical magazines.
  • Use templates, workbooks, checklists, cheat sheets and mind maps for physical workshops, VIP Days and Retreats.
  • Upload videos to Youtube, Vine and other video distributions channels.
  • Create and upload podcasts on iTunes and other audio directories for free.
  • Include personal coaching, consulting and a mastermind group as a backend strategy and give relevant products to your clients.

As is evident, you can set your book up to create multiple income streams by disseminating information in many formats, while at the same time be of service to others, whether it’s to solve a problem, teach a new skill, including fun things such as, how to make an edible Teenage Mutant Ninja Turtle, to how to build a tree house, or share a message to motivate and inspire.

Selling on the Internet, especially, gives you access to global customers and the great thing is that people get to try your product without direct selling—great for those who shy away from face-to-face rejection. If they like it and wish to invest in your other services and programs, they are already pre-qualified.

Of course, one is not limited to cyberspace; products and programs can also supplement offline businesses, as well.

So in essence, a book is a vehicle that allows you the opportunity to maximize it in multiple ways to enrich people’s lives and give you multiple income streams to live your lifestyle.

Write It, Work It, Publish It™

© Cherry-Ann Carew

Award Finalist & Bestselling Author, Cherry-Ann Carew | Book Coach | Editor | Founder of Writetastic Solutions helps Authors, Speakers, Experts & Service providers to bring out their creative expression to write, publish and market their books. Learn how her coaching and editing services can help you Write It, Work It, Publish It™ at: http://www.writetasticsolutions.com.