The ROI of Your Book

I just came across the largest-ever study of business book authors speaking to the return on investment (ROI) of this endeavor. 

And the results are fantastic! Though, as I often tell people, the money doesn’t come from book sales.

Here are the key findings:

• Most books are profitable for their authors. 

• Among published authors, 64% made back their investment. 
• Authors with a clear strategy for revenue typically had a profit of more than $96,000.
• Books that had been published for at least 6 months had a median gross profit of $11,350. Among authors with books out six months or more, 18% reported $250,000 or more in income. 

• Ghostwritten books were four times as profitable as others. 

• Traditional publishing tripled median income, hybrid publishing nearly doubled it vs. self-publishing. 
• Hybrid publishers delivered better service with authors than traditional authors, however. Authors with hybrid publishers were more than twice as likely to strongly agree they were satisfied with their publishers. 
• Authors who hired launch PR teams earned 5 times more than the average business book, with profits of $55,500.

Please note: These figures do not take into account the ways in which your book earns you more money beyond book sales: 

• Attracting more, higher paying clients: One author I interviewed, who published a book about coaching, now gets 100% of her clients thanks to her book.
• Getting more, higher paid speaking gigs: Several experts I have spoken to say certain companies only book speakers who have published books, and pay 3x more for authors.
• Being invited to events with next level leaders, and enjoying time “in the green room” with them,
• Garnering media attention in the form of TV interviews, Forbes articles, and the like.
• Receiving invitations to appear on higher ranking podcasts, such as Hard Fork and Armchair Expert. 

Writing Tip of the Week: Envision Success

So, are you ready to do a visualization exercise?

• Set aside at least 10 minutes of quiet, uninterrupted time.
• Call to vision your book. Why are you writing it?
• Imagine your ideal client sitting before you. How will your book impact them?
• Visualize your book picking up traction on Amazon and through direct sales.
• See yourself standing on stage, meeting readers who are thrilled with your message.
• Picture yourself meeting other leaders in your field.
• Feel your sense of achievement and accomplishment.

Now get to work!

Or if you want help, don’t hesitate to reach out. At Your Bestselling Book, we offer not only a highly acclaimed online course in cohort with other leaders like you, but also book coaching and ghostwriting. 

Aloha,

MeiMei

Quote of the Week

Business authors who invest in their books generate significant returns, and most of the revenue comes from public speaking, consulting, increased business activity, and a boost to their credibility and value of their personal brand, rather than from book sales, advances, and royalties.

 ~Josh Bernoff, author of Build a Better Business Book