12/10/24 Which book income stream should you start with?


Reading time: 1 monetizeable minute

Hi Reader!

I made the mistake of going to the paint store because I thought a nice yellow would go nicely on an accent wall.

But without any flair for design (let alone an NCIDQ) and no understanding of how to know whether I wanted a warm yellow or a cool one, I did what any overwhelmed human would do:

I decided white was fine, thank you very much!

With all of the choices (and frankly, they were all lovely!), I got overwhelmed and went home.

Which is what happens when some authors are shown that there are endless income streams they can build from their book.

A question I get all the time: “Which book-based income stream should I start with?”

It's a great question (you are so smart!)! And the answer is the lawyer's answer … it depends on three key factors:

  1. How quickly do you need revenue? Some streams like coaching can start generating income within weeks, while others like a book series take much longer to mature.
  2. What’s your ELF score? (Easy, Lucrative, Fun) You want income streams that are:
    - Easy for YOU to execute
    - Lucrative enough to be worth your time
    - Fun enough that you’ll stick with it
  3. What fits your desired lifestyle? Do you want to trade time for money (like coaching) or build assets that pay you forever (like courses)?

If they make a choice or two, here’s where most people get stuck: They try to launch multiple streams at once or pick based on what others are doing.

Please ignore the drum beat of "Scale! Scale! Scale!" until you're really ready to do so.

Instead, I recommend choosing 1-2 streams per year that align with YOUR goals, timeline, and natural strengths.

Want to see exactly how to evaluate and choose the right income streams for you? I break down the complete framework in You Must Monetize Your Book.

Get your copy here: https://amzn.to/4io2wfU

I’ll see you tomorrow!

Honorée Corder.
Author. Executive Book Producer.

P.S. Ready to fast-track your success? Join me in Building a Million Dollar Book Business where I guide you step-by-step through launching your most profitable income streams. Save 30% with code subscriber - that’s less than $1.92/day to build multiple 6-figure revenue streams from your book!

1890 Fairview Boulevard, Box 333, Fairview, TN 37062 Unsubscribe · Preferences

Honorée Corder: Author. Empire Builder. Publishing Strategist.

Sign up here to get my newsletter where I provide insight, tools, and information (plus a bit of inspiration) about how to craft, write, publish, launch, market and monetize your books--and build an empire! Once signing up, you'll receive daily high-content emails. (You can unsubscribe at any time.)

Read more from Honorée Corder: Author. Empire Builder. Publishing Strategist.

Reading Time: <18 seconds I know AI and CRMs are all the rage, but I'm more of a visual person. More than 20 years ago I created a tool I still use to this day, the 12x12 Matrix. (Hear me out, sometimes analog and visual works wonders!) It helps me see who is in my network and the next time I need to check in, follow-up, or reach out to them. If you've never heard of it and you want to be a more efficient, effective networker, here's a little of the skinny: You identify 11 complementary...

Reading Time: <30 seconds We've all heard, Ask and ye shall receive. (Matthew 7:7). But what about: Give, give, give, and you'll receive so much you'll need a bigger place to put it? That's how the Law of Reciprocity works. It's sometimes hard to need something (money, clients, goods, services, opportunities) and yet focus on giving to others. And yet we know all about it (sometimes it's called karma). In business networking, it's an easy concept to remember and do: discover what someone...

Reading Time: <30 seconds I like a "one-and-done" potential client conversation as much as the next gal (and they do, thankfully, happen!), but the truth is, there are five distinct stages in relationship building and you have to navigate them effectively: Nice to Meet You → Getting to Know You → I Think I Like You → Starting to Trust You → I Trust You (and will therefore give you my time, money, and access to "all the things." Whether you're developing a new client relationship or looking to...