Making Money With Your Book

July 23rd, 2008 by Bob Burnham

Making money from royalties for most authors is not a very financially rewarding career.
If you don’t start to make money with your book it can get pretty lonely. This is where too many authors go wrong.

Don’t let that last statement depress you because your chance of making money with your book if you package and sell the information from your book in different ways brings up your odds of financial success exponentially. If you break your book into CD’s Seminars, DVD’s Consulting and a number of other ways that many of us like to consume information then you can turn a not so profitable book into a cash generating machine.

I always take a poll in the classes that I teach to see how many read books. Obviously in my classes most are book readers. Then I ask how many buy Audio CD’s? Still quit a number put up their hands. Next it is seminars and a number of hands go up as well. Then of course I ask how many take classes and everyone has to put up their hand for that.

I then use the example that we have 25 people in this class who all paid $59.00 for a 3 hour class. This quickly calculates out to $1,475.00 for 3 hours work which doesn’t even count other moneys that may come from coaching, consulting and other information I could sell the students.

I remind them at this point that this is mostly the information in my book sold to them in different ways of consumption. It would take quit a few books at even a $2.00 per book royalty to bring in the same amount of money from the class and other back end products I may sell.

They quickly see what I am talking about. My students are always a good example of how insatiable we can be for getting more and more good information. Many of them, myself included spend thousands of dollars per year and will continue doing so.

Even after you give your readers or clients every bit of information you have they will still want more and that is why you will always be in demand. As Martha Stewart says “It’s a beautiful thing”