029: Expert Advice: 3 Tips to Make $100,000 Writing Books in 2024
May 9, 2024
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Eric Jorgensen, CEO of Scribe Media, talks about traditional vs self-publishing, book marketing dynamics, audience engagement, and creator capitalists. They dive into Warren Buffet's public image leverage, the Almanack of Naval Ravikant, and strategic growth from audience trust and content creation.
Authors can choose between self-publishing and traditional publishing based on income optimization, reach, and creative freedom.
Self-publishing authors can engage readers and drive book sales by offering exclusive content or courses tied to the book.
Building a media business and integrating e-commerce can create a powerful business model by leveraging audience trust for successful product sales.
Deep dives
Self-publishing vs. Traditional Publishing
The debate between self-publishing and traditional publishing is explored. Self-publishing offers authors full control, higher royalties, and the ability to use the book in various ways to drive revenue. In contrast, traditional publishing provides prestige, upfront advances, and access to expert editing and design services. The decision hinges on factors like income optimization, reach, and creative freedom.
Building Audience through Self-publishing
Authors like Tim Ferriss effectively leverage self-publishing to build their audience. By offering exclusive content or courses tied to the book, authors can capture reader contact information, enabling long-term relationships and enhancing book marketing efforts. Self-publishing allows for creative strategies to engage readers and drive book sales.
Maximizing Book Income and Reach
The potential to earn substantial income from book sales and engage a broader audience is emphasized. By strategically utilizing self-publishing and leveraging existing audience reach, authors can turn books into lucrative assets. The focus shifts towards making books profitable and reaching extensive audiences in a cost-effective manner.
Prestige, Creative Control, and Marketing Strategies
The aspects of prestige, creative control, and effective marketing strategies are crucial considerations for authors. While traditional publishing offers prestige and expert services, self-publishing provides creative freedom and higher income potential. Effective marketing tactics like capturing reader contact information and offering additional value can enhance book sales and audience engagement.
Success Stories of Al Done and Kevin Espiritu
Al Done of Missouri Star Quilt Company and Kevin Espiritu of Epic Gardening are highlighted as successful creators who built thriving businesses. Al Done started by shooting YouTube tutorials of quilting, leading to a significant business growth in Missouri. On the other hand, Kevin Espiritu transitioned from a garden blog to a successful YouTube channel and eventually expanded into e-commerce by selling gardening products that resonated with his audience, showcasing a strategic approach to audience engagement and product expansion.
The Power of Combining Media and E-commerce
The podcast discusses the synergistic relationship between building a media business and integrating e-commerce. It emphasizes the importance of creating trust through media content, which can lead to successful product sales. The example of Kevin Espiritu's gardening blog turning into a major e-commerce platform demonstrates how leveraging audience trust can significantly drive sales and business growth. By owning the audience and combining it with e-commerce, creators can establish a powerful business model with lower customer acquisition costs and a stronger understanding of consumer preferences.
This week on Billion Dollar Creator, Nathan sits down with Eric Jorgensen, CEO of Scribe Media.
Join us as we explore traditional and self-publishing, dissect book marketing dynamics, and discuss the strategic power of audience engagement and content creation.
They also delve into Eric’s journey from author to publishing company CEO, the concept of “creator capitalists,” and exactly how Warren Buffet leveraged his public image.
If you enjoyed this episode, please like and subscribe, share it with your friends, and leave us a review. We read every single one.
Featured in this episode: The Almanack of Naval Ravikant: https://www.navalmanack.com/ Berkshire Hathaway: https://www.berkshirehathaway.com/ Epic Gardening: https://www.epicgardening.com/ Missouri Star Quilt Company: https://www.missouriquiltco.com/
Highlights: 02:38 The Almanack of Naval Ravikant is one of Nathan’s favourite books 16:44 Nathan provides feedback on Scribe Media’s business model 27:14 Discussing Dan Martell’s flywheel 38:29 Uncertainty from Nathan on whether or not to publish his next book traditionally 59:30 Nathan on Justin Rhodes who makes $3 million/year homesteading 01:00:51 Nathan says Trent Dyrsmid has a plethora of transferrable skills 01:03:05 Nick Huber and the power of an audience in professional niches 01:04:22 How much of Warren Buffet’s success is attributed to his public image?
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