So after T. Harv Eker spoke about How to Get on the Best Seller’s List….his literary agent, Bonnie Solow, spoke to us via a telephone call.
The whole idea with writing a book in regards to passive income is that you’ll generate royalties, upfront advances, etc. plus, as Harv said it’s your “brochure” so you can earn passive income off of other things folks buy from ya.
Bonnie said an agent is the person that marries the author with the publisher. Helps create book ideas, protects you from the publisher and lobbies on your behalf. Literary agents get a 15% commission of what you earn.
Concept to Cash
1) Have a fresh and unique idea
2) Self-publish vs. traditional publishing (you need traditional publishing to really become a figure in your field. Like you are a “master” in your field an authority that folks can turn to.)
3) Increase appeal to agents
4) Write proposal and query letter
5) Find literary agent
6) Agent submits project to publishers
1) Is your idea fresh and unique? Or do you have an old idea but have a new spin or twist on it?
2) Do you have an interesting story to tell?
3) Are you passionate about your subject?
4) Do you have credentials?
5) Are you the right messenger for the cause? (I.E. If you’re not a parent you shouldn’t write books about parenting.)
6) Can you reach target market?
7) Is your idea relevant?
Decide which publishing route to take. Is your marketing platform (your audience) enough to excite a publisher? If not, you’re gonna have to self-publish.
Is your idea after a general or targeted audience? If general, you can go with traditional publisher.
Do you have the appetite and stamina to run your own business? If yes, you can self-publish, if you, traditional publishing.
Increasing Your Appeal to Agents
1) Create a buzz via an online presence.
2) Use websites
3) Social marketing
***Consider self-publishing with the intention of landing a traditional book deal.***
Must have awesome Marketing Plan
1) Design website/blog specific to book
2) Develop Twitter, Facebook, Scribd, and Youtube presence
3) Organize email blast and solicit use of friends and colleagues databases i.e. Joint Venture deals
4) Procure speaking engagements
5) Create webinars, teleseminars, courses
6) Consider hiring outside publicity
7) Write op-eds for newspapers
8) Explore special sales opportunities- bulk corporate sales? special retail outlets?
Look for ways to expand brand and income opportunities!! Create a series? Speaking engagements? Always keep buzz alive.
Write what you’re passionate about. CONTENT is king. Create an awesome marketing plan to reach your readers.
Bonnie recommended a book called: Red Hot Internet Publicity by Penny Sansevieri
I don’t know about you guys, but I think that even if you’re not interested in publishing a book that you can still take some really good ideas from Bonnie’s information here. Plus, who knows…you might change your mind about a book in the future??