Why most authors are BROKE & how to avoid it
So many people want the title of being a “published author,” but their actions position them to be a broke author. Anyone can be “published,” but being a profitable author takes hard work, diligence, and a plan!
Being a published author is quite an accomplishment. Research shows that only an estimated 3% of those who want to be an author ever become one. So, being part of the 3% club is an accomplishment.
Unfortunately, most authors do not know (and are not taught) that being an author is a business. According to the U.S. Bureau of Labor Statistics:
- 20% of U.S. small businesses fail within the first year
- 50% by the end of their fifth year
- 66% after ten years
Remember, I said being an author is a business. So, the odds are against you, and there are some key things you have to avoid to be a profitable author.
- Know the solution your book offers
- Know your book’s avatar
- Know where the people are that need the solution your book offers and make a plan to be in front of them regularly
- Know the organizations that are connected to your book’s avatar and have a “sales conversation” with the leaders/organizers of those organizations
- Have a plan for bulk sales with a goal of a minimum of 100 books sold
Remember, your book is for a particular person, and they can only receive their transformation when they interact with you. It is almost criminal to hold the key to their problem in your hands but not take the time to introduce yourself to them and make an offer.
Oh, and please, DO NOT make an introduction that screams, “please buy my book!” Do you respond favorably to spam calls or emails that do the same? I think not!
Check out my video below: