Bedros Keuilian Podcast Show - How to Make More Money With Your Book - 006

Episode Date: August 2, 2017

Craig Ballantyne and Bedros Keuilian have met multiple New York Times bestselling authors who say they aren’t making as much money as they were expecting. Weird, right? Since you worked so hard becoming an expert and putting your ideas on paper, don’t you deserve the greatest rewards of all? Craig Ballantyne and Bedros Keuilian think so, and in this episode, they’ll show you how to claim your rewards.   Here’s what you’ll discover: 1:01 - Where the real money is in books (publishers are clueless about this, but it’s a golden opportunity for you). 3:24 - How to get the names of your audience, so you can establish a direct connection with them and maximize the profits of selling to them. 4:54 - How to get high-paying coaching clients by giving your book away for free. 8:42 - How to create extremely lucrative equity partnerships with the “shooting stars” who have read your book. 17:32 - How to create a live event that will drive up your readership and give you access to a constant stream of valuable clients and partners.

When you're writing a book, you're really getting people to know like and trust you. You're getting a big fan base of people to know like and trust you. And I got to tell you, man, I'm all for being a New York Times bestseller, but what I'm really after is the money that helps me make bigger changes with the community that I serve. Hey, this is Craig Bount. I'm here with my empire building friend, Bairos Kooley. And today we're going to answer a really popular question that authors are always asking themselves. And that's, have you ever wondered why that even with a well-written book, you're still not making the money you desire and deserve.

True. Now, whether you're going to write a book or you've already written a book that's a bestseller or even a New York Times bestseller, in fact, a couple of my clients are New York Times bestselling authors, and we quickly realized that they weren't making quite the money they thought they would make as a New York Times bestseller. And that's nothing new here. Sure, you get maybe some speaking gigs,

and you might get some print time in the newspapers or magazines or even on TV, but where is the real money? And so this is what we're going to answer today. you right now that the real money is sitting in the lowest hanging fruit, which is in coaching, consulting, and masterminds. And let me dive right into that. We've got eight or ten other bullet points we're going to share with you if you've written a book or if you plan on writing a book and making it a bestseller. How can you make it a best money earner as well? Let's talk about that. So when you're writing a book, you're really getting people to know like and trust you.

You're getting a big fan base of people to know like and trust you. And so the lowest hanging fruit is in coaching, consulting, and masterminds like I talked about. And so what people really want from you is more, but more of a higher level service. And so think about it. If you wrote a book on business, on mindset, on greatness, on diet, on fitness, it doesn't really matter what the topic is. Even on, let's say, buying stocks and increasing your wealth, some people still want a higher level of coaching and consulting.

And so right off the bat, you've got to start asking yourself, if the lowest hanging fruit is there, what can I do to get those people to buy a multi-thousand-dollar coaching consulting mastermind program for me? So the very first thing you've got to focus on is really building some kind of a contact list. And this is my big problem with the publishing world because they sell your books for you and you get PR and media and all this stuff. You get the likes and you get the shares, but they get the money. And that's never really made sense to me. And so what can you do to put in your publishing deal that you want access to the contacts, that you want the ability to be able to do an affiliate launch or a promotion to your list or to your Facebook

fans and followers where you can build the followers and of course offer them coaching and consulting? In fact, I'd go one further, Craig, and say, what can you do to offer some level of, a higher level of coaching, consulting masterminds in the last chapter of your book? And this is what I've done in my self-published book. and this is what I'm doing in my book, Man Up, that's currently being published. And I got to tell you, man, I'm all for being a New York Times bestseller, but what I'm really after is the money that helps me make bigger changes

with the community that I serve. And the money comes when you have the names, and that's the problem with traditional publishing. You don't get the names. So how does somebody who's written a book get the names in order to communicate with them and share with the world that there's another opportunity here for them? Yeah, there's really two ways to go about that. Number one, you're going to negotiate with your publisher,

or if you're just going to have it self-published through our friend Tucker Max's company, book in a box. By the way, great service, and I don't get a piece of the pie here out. It's not like I own equity in it or Craig owns equity in it. It's just a great service where they interview you, they ask you all the right questions, they write your book for you and create a whole kit. In fact, Craig here, his Perfect A Formula book and kit is made by them.

But I should tell you that the number one thing you want to do is have a reason for them to reach out. to you and give you their name, email, phone number, and mailing address. And that might mean that they're going to go to a certain website to download a video or a training series for free in exchange for the contact info. Because when the books are being sold through Amazon and books a million and on bookstores everywhere, you're not going to get the contact info unless you move people from the book pages to a website that you can grab their contact info.

So that's thing number one. Thing number two is, and by the way, Dan Kennedy is a master at doing. this and has no BS series of books. Thing number two is you've got to negotiate with your publisher or obviously if you're doing a self-publishing deal of getting the books at wholesale cost. See, I believe that you can get 5,000 to 10,000 copies of your book and you can build a following on Instagram, on YouTube, on Facebook, and then have a free plus shipping offer. Like we've done with your book, like we've done with my wife's book, recipe hacker confidentials. And like I'm going to do it with my book. Yes, it's going to be in bookstores everywhere and on Amazon, but I'm going to do a big free plus shipping launch, hopefully with affiliates and to my fans and followers on social media, where I will give the book away for free in exchange for $6 or $7 for to cover shipping and handling.

Yes, I will have upsells in place, which we'll talk about in a moment. But now I've got the contact info of people who have bought my book, who have read my book and want a higher level of service, and I can immediately launch a coaching service, a mastermind program, Hell, you get 25 people at $2,500 a month for 12 months. I mean, you got yourself a near seven-figure business that's very high-profiting, as you know. Yeah, so somebody's in some crazy industry that they're not going to sell a ton of books, but they're going to get enough people coming to them saying, hey, you know, you're an expert in the restaurant management industry. I need to hire you as a coach.

Well, you've told them that they should do coaching, and people want to do coaching with them. How do they bring it all together? Yeah, so the way you're going to bring it all together is typically going to be a video. fact, I might even give you an example of one. If you go to bedros and Craig live.com, you will see the sales video that we have. It's a very simple two-minute video of me on camera inviting you to sit-in on a two-day private mastermind. And so you can either do a sit-in where you're going to start launching it off a workshop or a mastermind where you get 40, 50 people

to a one-day or two-day event. And at that event, you might then say, hey, guys, if you like what we taught you here, we can work together for the next 12 months. months and really break down this elephant into bite-sized pieces to get you to your desired outcome over the next 12 months. So one thing I did to help Lewis House, who is a New York Times bestselling author of the School of Greatness, was that we were going to mail out to his list of people who have bought the book and people who follow him and send him to a page like Bedros and craiglive.com where they would watch a video of him and, of course, fill out an application to get on a strategy call. This worked out great for him because he didn't have to, you know, get a hotel conference room, he didn't have to lock down a date,

you don't have to stress out over, am I going to get five people or 50 people into this workshop? He was literally took a two-week period and he was able to get 25 people into his coaching program by phone closing them. And I think that's a smart way of doing it. So you would set your mastermind date two months out from the time you start doing your phone consults or phone closes. And really, in a two-week period, you're going to talk to, let's say, 80 to 100 people and you get the top 25 most qualified into your mastermind at somewhere around $2,000 to $2,500 a month or more if you feel you can command that.

And you've got yourself a coaching program that's easy to run where you meet every 90 to 100 days just like our mastermind, and people get tremendous value. And what most people don't realize, and you and I have done this, is within that coaching group, not only people want more information from you,

but you're going to find the shooting stars who are creating businesses, and opportunities that you are likely to be a part of by adding your value to it and helping them get faster results. So I've taken equity in so many different businesses as you have from opportunities that have come into our coaching and mastermind programs. We've realized that, gee, we can help you scale this thing faster,

either by putting money in or by putting our contacts in together. And so it's not just a mastermind in coaching and consulting. It's the shooting stars that you get to do business with in the big picture. And I think that's, you're leaving money on the table if you don't do this. Yeah, absolutely. That's the highest end where you're building more of an empire and you're helping somebody else build their own empire.

And so that is the highest level. Then you've got the masterminds underneath that. Now, coaching is something that can be sold similar to the way you described it. What about the consulting? Is that all tied into the equity part too? Is there something else that you have in the consulting? Good question.

So I'll kind of open up the kimono here and share my consulting model with everyone. I'll charge anywhere from $30,000 to $50,000 for a half-day or $4. full day of consulting for a company, let's say an emerging franchise, right? Because with FitBody Boot Camp, we're growing so quickly. Other emerging franchises want to grow as quick. And so we'll charge him $30,000 to $50,000 depending on half day or full day of consulting and some follow-up calls and emails, of course, for the next 90 days. But that also gives me a good idea on, is this

a industry or service or model that I want to be a part of, that I can help? Do I like the person enough. Do I feel they're a shooting star or are they distracted? And if I feel that this is an industry that I like, that I can add value in, that I can help force multiply their growth and I like the person, I'll reach out to them later on and I'll make the offer of, hey, what do you say I take equity in this business? And, you know, by taking equity, now I can literally replicate everything that I have in my headquarters, in your headquarters. And so my team will help replicate that model and take away the growing pains that you're going to experience as you grow to 300, 400, 500 locations.

And so I do that often with, again, the shooting stars, but that doesn't mean that consulting only has to be equity-based. It could literally be where you're charging, let's say, $20,000, $30,000 on a quarterly basis. And in fact, I remember hiring a consultant when we first started a Fit Body Boot Camp to help get our ducks in row, our legal stuff, our documentation, because, you know, you're being governed by the Federal Trade Commission. it's way out of my zone of genius.

And so for a whole year and a half, we had a consultant where quarterly we were paying him $20,000 a month and he would handle all that stuff. Now he would ask us for the documentation and paperwork, but it was just on a per money basis. There was no equity given to him. And after a year and a half, he made his $100 and some odd thousand dollars and went away and we had a structure that we can build on and grow.

Yeah, absolutely. So you might be thinking, well, hey, I'm not a business consultant. My book is just about functional medicine or something like that. Well, another thing that you can do are put together workshops. So maybe it's not a mastermind that you do, but you can start putting together workshops like I have with my perfect life workshops that were built out of my perfect day formula book. It's just natural evolution as you get the book out there.

As you build that no like and trust factors, you get a lot of people emailing you and asking you all of these questions, what's the next level that you can go to? because here's the thing that goes all the way back to the speaking, is that even if you write a great book, even if you give out everything you know, you know what the funny thing is, Baderas? What's that? People always think that you're holding back, right? True of that.

They always think that you're holding back secrets. Now, the thing is, is you probably, as an expert, know so much that you've forgotten some secrets that will actually help somebody, so you will be able to give them more value. Plus, as you go along, you realize there's a better way to explain things. which is why I came up with in the workshops. There's a next level for building not just a perfect day, but an actual perfect life. So the workshops are in addition to part and parcel

with the mastermind coaching and consulting. And then there's the speaking, which you do a lot of and I do a lot of because again, people can read the book and they're gonna get all the information they need to go and make big changes in their life, but they still think that you're not giving them every single little thing, even though you do and I do, But people are going to want to have you up on stage, put you on the pedestal,

allow you to speak in front of people. And when you build that celebrity and authority through your social media, it becomes very easy to get very highly paid speaking engagements. For example, one of the ones that I got was by doing a podcast in the paleo world of all things, and I got hired by a bank to go and speak in Panama for $25,000. So what else do you have in terms of speaking? You know what, actually to that point, even where speaking is concerned, and you've gotten private consulting clients from speaking as well, right,

who pay you $25,000 to spend a day with them and then to effectively implement the stuff from your book over the next 12 months. And so this is really important. As Craig said, sure, you put everything that you know in your book. I mean, that's your life's work. However, that is just the information. Unless it is implemented upon, unless there's implementation,

they're not going to get the results by just having the information at hand. And so when you're running workshops like Craig's perfect day, perfect life workshop that he has, where you take what, five, six, seven people. I took that workshop myself. I love it. My wife took it. Now my dearest friends are taking it. We've all read Craig's book.

And hell, I've known you for almost a decade now. So just through osmoses, I've learned a lot of your habits and rituals that I've installed into my life. But when you take the workshop and you go through the forms, it's implemented deeper into your life. and then the year of accountability that comes along with it. Now, this isn't, I'm not here to pitch his workshop. I'm giving you a great example of a man who wrote a book. He even created a kit that comes with forms, and people still want that higher level of implementation,

support and accountability that you can only get through these little workshops that he runs that are really high-profiting. It $5,000 a piece, six people to a workshop, and you're running at least one or two a month. Right. I mean, my gosh, that really adds up. Yeah, absolutely. And so, as Baderos was saying, is that people want that next level.

So some people won't be able to afford that, though. And so that's where you build in your courses and your kits. So you've probably all seen my Perfect Day Formula kit. It's an extension of the book. We took out the really big juicy nuggets, and we walked people through these worksheets and success tools in the kit to allow them to have bigger breakthroughs. And then you can also go and build digital courses and videos

and all that type of stuff and just expand. on it. So walk us through that. Yeah. So again, I'm going to use you as an example as we created Craig's Perfect Day book launch, which was the free plus shipping offer. And of course, the kit was the upsell and he had some other upsells in place. One of the big things that you have is the, the university, right? Yes. And that's the, is it the E. Early to Rise University. Early to Rise University, which is one of Craig's businesses. Now, that's a course that's got, what, 12 or 15 different months? 16 plus, yeah. 16 plus modules. They want more of you and not less. And so, you may not feel like you have the capacity to run a workshop or you may think that you don't just you don't know even where to begin that's you know to close people over the phone move them into a workshop am I going to be able to deliver the value maybe you want to start with baby steps create the course in other words a six week course of your book where you teach the most valuable chapters or or bullet points from the book on a weekly basis and take them through this journey for example you can get index cards three by five index cards and if you're going to have a six week

week modular course that walks them through the six most important topics in your book, then you're going to take that index card and you're going to write, let's say, module one. And let's say it is how to groom your dog the first time. And you're going to flip it over and you're going to write the bullet points of how to groom your dog if this is a how to groom your dog book that you're writing. And really, now you already know what to film for module one. You've got the topic and then you've got your bullet points. And by putting those two together, you then go to the next one, the next one.

one might be, you know, the proper care of their coat on a weekly basis. And, you know, maybe you're going to feed them fish oil, you're going to comb them so many times a day, whatever it is that you take to groom your dog is what you're going to do. But each thing should have a three-by-five note card with the topic of the actual module and then bullet points on the other side that explain what you're going to teach. And you walked them through the six-week course, And this is a multi-thousand dollar, like a $1,900 or $2,500 course that people will buy. You also take those customers and you add them to a Facebook group. And this is where you get that real big accountability and you really reduce.

It does two things there. It reduces their refund rate and it increases the implementation rate when you create a private group. Here's why. People will buy a program and not use it typically. That's just how society is. I think Tony Robbins once said that when you buy a book, only 10% of the population reads through the whole book. That means if they buy a course,

only, let's say, 10 or 20% go through your course. You want to add them to the Facebook group where you're going to give them a lot more support and accountability and really help them implement the product. And they get to interact. And, by the way, they get to interact with you. What better way to interact with their author of their favorite book, right? Right, right.

No like and trust factor through the roof. Absolutely. All right. So we got courses. We got, you know, products. We got all the coaching consultants. masterminds, what else are we missing that somebody can take that book and say, I'm going to turn this into more money. Yep. And I think the real final thing here is to create some kind of a big summit. Now I've got the fitness business summit.

I talked to Lewis House and was finally able to encourage him to do the greatness summit, which now he's running his second year, which I'm so happy for him about. Again, people read your book. They want more interaction with you. They want that environmental exposure with you. So why not create a live two or three? three-day big conference or seminar, get a few hundred people to come out, get your best presenters or speakers there, get a DJ there. I love taking little plastic eggs, like little Easter eggs, as you've seen. We put, you know, 10, 20, 50 dollars in there. We get about 100 of those. We throw them out into the audience over the weekend. We teach, we inspire, we network, we connect. And what's really great about that is the amount of people that come up to me in between the sessions when I'm speaking and go, how else can I work with you at a higher level is nuts. I mean,

Listen, we make videos all day long and post them on social media, et cetera, et cetera. You hardly see people leave comments and go, how else can I work with you on a coaching consulting basis? At a live event, I'd say about 20, 30% of the people are going to come up to you without you even pitching anything and asking, how can I work with you at a higher level? Because they feel that chemistry. We're no longer in the digital world. We are now shaking hands.

We're hugging. They get to see the real you. They get to feel your energy. And I think that's infinitely more powerful than just doing stuff online and digital where they don't get to have that personal experience. But summits are priceless, and it makes launching a coaching, consulting, mastermind business even easier. Awesome.

Awesome. So there's so much you can do with the book. It's not just a one and done. It is truly something that someone can use to build an empire, right? Absolutely. And in fact, if you want help building all these different income streams and opportunities into the back end of your upcoming book, or maybe a book that you've launched was a bestseller, and maybe it didn't really make you a lot of money, even though it was a lot of money,

even though it was a bestseller, then come and join us for the Empire Coaching Group. See what it's all about. And if it's a good fit, we'll help you walk through the entire process.