Thanks for joining me on another one of my three-in-one bite size bestseller boot camp videos.
I’m looking at the last in a sequence of four traits to successfully launching your book.
This one is entitled joint ventures.
What I mean by joint ventures is look for potential partners that can help promote your book.
They could be people who are running events and they want to bring you in as a speaker and you share some of the book revenue sales from the event.
It could be that somebody is running a related event, perhaps you’ve just written a book on landscape photography and you’ve got a friend who’s written a book on portrait photography, perhaps you could speak to the portrait photography customers and say, “Hey, would you like to learn more about landscape” and vice versa.
You can work together while using related topics and share customers amongst you. It gives you an opportunity to help their customers.
If it’s about a service, perhaps if you offer computer training to accountants, then your Excel training course will be great for a local printer who sort out business cards for accountants in the local area. Or perhaps the local trade association or the Chamber of Commerce might be interested in working with you and offering your Excel course to other businesses in the region.
Just think about other people where you can tap into their customer base to generate more sales.
Now I recommend the revenue share for this should be around fifty/fifty even though you’ve sweated blood over writing your book and the other person has “done nothing”. I do appreciate this can make people feel a bit frustrated when they’ve “got to give away half the money”.
But ask yourself, if you were promoting a book for for someone else and let’s say for argument’s sake, it’s a £10 book, and you only get 50p for promoting it and the other person gets £9.50 from the sale, well there’s not much incentive for you to bother promoting that, is there?
So why should someone go out of their way to promote your book, if you offer a miserly share of the profit?
The more commissions you can give people in joint ventures, the harder they’re going to work to secure customers for the venture you plan to do together. Don’t be “tight” for want of a better word, go fifty/fifty with the revenue shares to ensure it’s a success.