155 | The ROI of Writing a Book: Self-Publish vs. Traditional

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By Hilary Hendershott and CFP. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In this episode, we’re talking about writing and publishing books.

Almost everyone has a book inside of them waiting to be written. You don’t have to be an entrepreneur who wants to spread your message and grow your empire to write a book, either. You could be a doctor looking to share nutritious recipes you’ve crafted for your patients. You could even have a full-time job and a great career, but want to write the Great American Novel to express your creative energy.

No matter what you write about, you’ll ultimately have to choose how you’re going to share your book with the world. At that point, you’ll have to decide between self-publishing or working with an imprint of a publishing house.

I’ve personally been thinking about writing a book for a very long time. I’ve attended a number of conferences, learned what it’s like to self-publish, and taken a $5,000 course on how to publish traditionally. After doing all of this research, I decided not to write a book at the time, but as my business has grown, I’m actually reconsidering.

What I learned from my experience was this: there’s no 100% right way to go. There’s a lot to learn about both methods, and there’s no clear evidence that one is more profitable than the other. What you can clearly understand, however, is how to plan for what writing your book is going to cost you in terms of money and time.

For today’s episode of Profit Boss® Radio, I’m speaking to two experts on this subject.

First, I’m joined by Julie Broad. Julie is an Amazon Overall #1 bestselling author, an International Book Award Winner, and recipient of the Beverly Hills Book Award for Best Sales Book. Through her company, Book Launchers, she helps entrepreneurs and professionals write, publish, and sell business and brand boosting books without giving up their rights or royalties.

After my conversation with Julie, I’m speaking with Joelle Hann. Joelle is the founder of Brooklyn Book Doctor. She’s ghostwritten, collaborated, edited and developed books with top CEOs and humanitarian activists, coaches and journalists, scholars and entrepreneurs, and many others. Joelle also actively writes and publishes her own work, so she knows what it means to be coached and edited. Her signature program, Book Proposal Academy, helps authors write winning book proposals that help them land agents and get attention from traditional publishing houses.

Both Julie and Joelle are also currently available for consulting, and you’re going to hear an exclusive offer from each of them if you’re ready to bring your book into the world.

So, are you ready to hear all about what it’s really like to publish a book, learn from the experts’ big wins, and find out about the mistakes you need to avoid? Then you don’t want to miss this episode. Tune in to Profit Boss® Radio today!

Here’s what you’ll find out in this week’s episode of Profit Boss® Radio:

  • How to approximate the costs of writing a book - and why not to assume it will ever pay for itself.
  • Why authors need to be thinking like marketers regardless of whether or not they partner with a publisher.
  • Why writers who have had success with traditional publishers are now choosing to self-publish.
  • The difference between self-publishing and hybrid self-publishing - and why Julie isn’t a fan of hybrid.
  • How much you can expect to pay for a highly experienced ghost writer.
  • The difference between a developmental editor, a copy editor, and a proofreader - and why you need all three.
  • How the most successful self-published authors are achieving massive sales numbers - and how Julie’s book, after being rejected by a major publisher, generated six figures in revenue and attracted serious interest from future business partners.
  • The biggest mistakes that self-publishers make and how to avoid them.
  • What expenses to budget for in order to meaningfully launch a self-published book.
  • When you should consider working with a traditional publisher.
  • What traditional publishers are looking for - and why you don’t need to be a celebrity to get a book deal, but you do need to have an extra oomph to get readers excited.
  • The step by step process of getting a literary agent - and what to do if it doesn’t go anywhere.
  • Why the era of the six-figure book deal is over - and the hidden costs that can lead you to spending more than your advance when working with traditional publishers.
  • The main reason that books fall apart - and why brainstorming and outlining your book before you write can save you hours, if not months, of frustration.
  • How one of Joelle’s first-time authors ended up in a five-way bidding war for her book.

Show Notes

To get access to the full show notes, including resources mentioned, transcript, and a complete breakdown of the End of Year Wealth Building Checklist, visit HilaryHendershott.com/155.

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161 episodes