Besides the obvious book royalties, are there hidden profits in being an author? Yes!
Writing a book opens up the door to many lucrative opportunities. But I’m just going to focus on two big ones today: coaching and author coaching.
Before we get into those, let’s first ask: Why does being an author give you extra money-making opportunities?
I believe this answer is obvious. It all comes down to trust.
When people trust that you’re an expert on the subject, which writing a book will do for you, or you’ve already achieved what they’re aiming for, you have incredible trust already built in the relationship.
And when people trust you, the odds are far greater that they’ll pay you to assist them get to their destination. That’s the way the sales process works, every single time.
For example, I’ve experienced this trust and these hidden profits firsthand. Clients have paid me high fees to be both a coach and author coach because I have three books under my name.
When you write a non-fiction book on a self-help topic, you’re immediately qualified to help clients achieve the results you describe in your book. People will always pay to get results from an expert.
Maybe you wrote a book on how to build an online business, so small business owners reach out to you to coach them through building their own online business.
Or you wrote a book on how to find your dream guy, so clients set up appointments with you to be their dating coach and implement the strategies you listed in their book.
I wrote an Amazon bestseller called The Golden Resume. In one case, a medical student contacted me to help him with his resume for his residency application.
I spent maybe a few hours on his resume to show off his experiences and skills, and came out with $500 for my coaching fee ($250 an hour).
That’s not a bad gig at all.
Remember, I only got it because I wrote a job search book and this gave my client the confidence to pick me over someone else who offers resume services without a book to their name.
Writing a book is arguably the highest form of credibility you can have on a subject.
Author coaching is a little bit different than book subject coaching. The service is in the name though, because it’s coaching someone to become a published author.
After writing a book, plenty of people reached out saying things like they have a story they need to write and becoming an author has always been on their bucket list.
These people are not alone, as 81% of people say they want to write a book.
What did I do about it? Provide a service to help these people go from aspiring author to author: author coaching.
If you’ve written a book, that same demand is there for you to coach people on the book writing process using what you learned.
And other times, like the project I’m getting paid to work on now, I get presented with an easy editing gig.
If I didn’t write a book (or three), there’s no way I’d be presented with these profitable side projects.
This goes to show that there’s a lot of money to be made directly and indirectly from becoming an author. Are you interested?
If you want me to coach you through the entire book idea, writing, editing, and publishing process, learn more about my author coaching service. With the right coaching, you’re only a few months away from becoming a published author!