May 12, 2021

How to Best Use Your Book Material to Power Your Profits - BM272

How to Best Use Your Book Material to Power Your Profits - BM272

Do you want to know how to best use your book material to power your profits?

Listen as entrepreneurial genius and international bestseller author, Susie Carder shares her secret sauce to monetize your expertise.


Do you want to know how to best use your book material to power your profits?

Listen as entrepreneurial genius and international bestseller author, Susie Carder shares her secret sauce to monetize your expertise.

In this week's powerful episode "How to Best Use Your Book Material to Power Your Profits" you will discover...

  • How to get started on your success journey
  • How to ease the learning curve pain
  • How to plan for a profitable business
  • What mistakes to avoid
  • Tips and techniques to market and share your message
  • And a whole lot more...

Buy a copy of Susie's international bestselling book "Power Your Profits" and get $5,000 in free training

BONUS GIFT: Mindset Magic

 

Transcript

Susan Friedmann:         Welcome to Book Marketing Mentors, the weekly podcast, where you learn proven strategies, tools, ideas, and tips from the masters. Every week, I introduce you to a marketing master who will share their expertise to help you market and sell more books. Today, my special guest is an entrepreneurial genius. Susie Carder started out as a low-paid hairdresser, trying to support her two little girls. Then she decided that what she had to do was to create her own business.

                                    After much blood, sweat, and tears, she went on to create not one, but two, $10 million companies. Her core genius is the ability to simplify complicated issues by creating simple proven systems that are guaranteed to create dramatic growth. She's helped over a hundred thousand entrepreneurs increase their revenues by more than 3000%. Oh my goodness. I saw Susie present at a recent Collaborate meeting, and I was just blown away by her energy and just her practical advice.

                                    Susie, what an absolute pleasure it is to welcome you to the show. Thank you for being this week's guest expert and mentor.

Susie Carder:                It is my pleasure and you are welcome. I am excited because this was a journey for me to learn how to build a business from a book, and so this is my sweet spot. I got lots of gems to drop today.

Susan Friedmann:         Oh, well, let's get started. We're in for a real treat here. Let's start at the beginning, Susie. It's like, we've got entrepreneurs, solopreneurs, authorpreneurs. Call it what you want. We're in business for ourselves and we're just getting started. What do we need to do first? What's the beginning of the roadmap to success?

Susie Carder:                Well, first you have to get really, really, really clear on, what's the revenue model? I'm going to start, Susan, by sharing my disaster when I first started in this industry. I didn't start out wanting to be a speaker, a transformational leader. I really wanted to help my community. I really wanted to teach them what I had learned the hard way. It didn't occur to me that it was a business model. I remember my clients would say, "Susie, I love what you do. Do you have a book?" I'm like, "No. I don't have a book."

                                    Back then, I was a hairdresser. I'm like, "I'm just a hairdresser." They'll be like, "If you wrote a book, I would buy it." I'm like, "Oh, okay." I had all this hype about writing a book. I wrote the book and the first publisher that I went to, Susan, rejected me. I'm like, "They don't even like me." I quit right after that. I'm like, "No, okay. They don't want me. I'm going to open my own publishing company." You know how crazy that is because that's what you do.

                                    I didn't know any different. I'm like, "Fine. You don't like me. I'm going to start my own." We published our book and I remember the day that all the books came. 2000 books didn't sound like a lot of books when I ordered them, but when they dropped them off at the driveway, oh my goodness, that was the best day, the scariest day, the worst day. Like, "What do I do with all these books?" It was that day, Susan, I realized, "You have to sell it."

                                    I don't know what I was thinking. I thought I would write a book and I would immediately be famous. That's not the case. Most of you on this journey, or if you're just starting this journey, it's so fun and so exciting and so rewarding. What I realized that day was the hard part wasn't writing the book, what was really hard for me, the hard part was now I have to figure out how to sell this. I went to my first event, there were 300 people.

                                    I remember it clear as day. It was at the Fisherman's Wharf. It was a beautiful sunny day. You could see the sun on the ocean glistening. I'm like, "Oh, I have arrived. I'm going to have a book signing and people are going to buy my book." I did my talk and I watched people stand up and go to my line. I'm like, "Oh my gosh, this is it. I have made it." I'm signing books. I was so happy and so exciting. I was sitting there and the next speaker got on and the next speaker was talking.

                                    I'm in the back of the room with my calculator, figuring out how many books I sold. If you sold 150 times that $20, it was $3,000 that day. Now, that paid for my expenses, that paid for me being there. I'm like, "Okay. I'm paying for the books that are still sitting in my garage." Then I watched this other speaker get up on stage. He was pitching a $2,000 product. My limiting mindset, Susan, my limiting belief about what people would spend, my limiting belief about what I could spend at the time, right?

                                    I was investing all my money in my business. I didn't have an extra $2,000 to do much. He was talking to the audience. I'm like, "They're not going to buy this." Literally, I watched the same people that bought my book, stand up and go his line. The same 150 times $3,000 was $450,000 that day. I was like, "Oh my gosh, I'm doing this wrong." Now, luckily the book gods, the business gods were shining upon me. It felt like somebody punched me in the face.

                                    It felt like somebody had taken the wind out of my lungs, but it was the best lesson that day. I realized that a book is really a lead magnet. A book is a lead generator. As much time and money as we spend on it, we have to reposition our thinking. The first thing I want you to do is when you're writing your book, I want you to think about a companion course. I want you to think about what could go with this book because the book will be $20, $12, $15, $25, whatever.

                                    There's a cap on what we can sell books for, but the intellectual property in the book can make you millions. That lead can make you millions. It has made me millions over and over and over and over again. I want you to think about what companion product can I put together? You want to create that companion product so it's juicy, it's valuable. If we create videos with the companion product, that product goes up higher. It's so crazy.

                                    You can do audio and if you look at books on audio, you're still going to have a cap to what you can charge. The minute you turn a video on yourself, the minute you create that interactive dialogue with homework and exercises, you're just bringing the book to life. When I look at my book, Susan, Power Your Profits, it has multiple touchpoints and multiple products. The book itself is $20. Then we have our next course, which is Propel Your Profits.

                                    That's the companion course. Yes, you guessed it. It's a video. It's each chapter, but I bring it alive in the video. I bring it alive in homework. I bring it alive in action steps. Guess how much that product is? Yeah. You guessed it. Very similar to what that first author did with me. My product is 1,997. 1,997. I want you to hear it's the exact same content. It's just delivered differently. More access to me, more intimacy with me.

                                    The more access they have to you, the more intimacy they have with you, the more touchpoints they have with you, the higher the price point. Wait, Susan, it gets better. The next one is, where I'm going to go from the companion course is what we call our boot camp. Our boot camp is only three chapters of the book. It's a video and it's workbooks and it's interaction. Then they get a coaching call with me. Then they get a mastermind call with a group and they get accountability partners.

                                    We're going over the business plan, the marketing plan, the finance plan. You can see, how do I launch this business? That product, drum roll, is 7,500. Then last product. That product is still the book and then the highest level is what we call Our Global Leadership. Our Global Leadership is a year-long mastermind. We have other experts come on and teach their expertise in what they're doing in business.

                                    I want to support my clients with businesses so that we can really look at, how do you grow your business? That product is we do masterminds. They've got modules. There are over 72 modules. Again, breaking the book down in bite-sized chunks. Each sub-chapter in the chapter becomes a mini-lesson. They get mastermind calls with me. They get coaching calls with me. They get a business lab to implement the work. It's a big product. We do some done-for-you services.

                                    We do a one-page website, a webinar sales funnel, all included. It's still the book, but I'm bringing the book alive. Drum roll. That is $35,000. That is one of our highest sales and that's our most sought-after product. I use the book each step of the way. The book is the lead generator. The book gives credibility and validation and then we move them up the ladder to go, how can I support you more? Now, the distinction is I want you to hear that I'm coming from support.

                                    I'm coming from, how do I help you create a seven-figure business? I want to teach you how you build a business on cement, not on sinking sand. In the early day when I wrote that first book, it was on sinking sand. I didn't have a strategy. I didn't really have a financial plan. I had hope, I had a dream and I wanted to make a difference. That's not enough in business. My journey of 30 years in this business, yep, I'm a little seasoned, has taught me a lot of great lessons and a lot of painful lessons.

                                    Susan, my job is, how do we shorten that learning curve? How do we help you not make the same mistakes we did. You might make different ones, but you can raise your hand and say, "Susan, should I do this? Should I not do this?" So that we can ease that pain and shorten that learning curve. Sorry, Susan, I went on a tangent.

Susan Friedmann:         But it was a great tangent. I mean, I feel as if we've gone a whole way around the world, talk about a roadmap. I mean, that was incredible. It's so interesting because that beginning, when you said, "Oh, well, I'm going to publish my own work." Well, that's originally how I started Aviva Publishing, is no publisher was interested in somebody ... I was doing work in the trade show industry. People couldn't care less about the trade show industry, even though at the time it was worth billions of dollars.

                                    I was like, "Okay. I'll start my own." From that to over 25 years, we've published over 400 titles now. Yes, I get that beginning. What I love about what you have just outlined for us, Susie, is you've got the book that makes up the nucleus, the center. You go out in the world with different products, but the core is still the same.

Susie Carder:                Yes.

Susan Friedmann:         I really, really love that. I mean, it's mind-blowing when you think about it. Let's talk about some of these mistakes. I mean, we've all made mistakes. You make them, I made them, and you see them being made over and over again. All these incredible people who come to you, what are they doing wrong that we could avoid doing?

Susie Carder:                Oh, this is such a juicy question, and we all do it. I've done it. Susan's done it. I think the key is listening to the lesson in the story. When I look at my journey of really charging what I was worth, that's one of the biggest mistakes because here's how we figure out pricing, Susan. What does Susan charge? Okay, Susan charges $10,000. What does Susie charge? Oh, Susie charges $35,000. What does Melanie charge? Well, Melanie only charges a thousand? What does Bob charge?

                                    Well, Bob charges 5,000. That's perfect, right? That's called competitive analysis, but we don't know if Susan's business is profitable. We don't know if my business is profitable. Well, we do because I'm a profit coach, but we don't know what Bob's is, we don't know if Melanie's is. We don't know what their overhead is. Business isn't ... You're not just pulling it from your heinie, pulling it from outer space, or looking at what everyone else is doing.

                                    Competitive analysis is important because you can either price yourself out of the market by being too expensive, but you can also price yourself out of the market by being too cheap. When I first started this consulting path, I really didn't know what to charge so I pulled it out of my heinie. I did what I just explained. Back in the day, I was a salon owner. We owned one of the top salons in the country we were in the top 1% in the nation and the top 10% in the world.

                                    You would think with that accomplishment, I would be incredibly profitable. Nope. I wasn't. Profit is planned for. I did the same thing. The competitive analysis. What is everyone charging? Right? We were maximizing every customer. We were looking at our time ratio. We were looking at, who's going to buy? We were segmenting our customers, A, B, and C. Our A customers were those customers that always want to buy from us.

                                    Those B customers are sometimes. Those C customers maybe come in once a year. How do I get a C customer to a B and a B customer to an A? I felt like we had this amazing strategy, but we still weren't profitable. We were still working hard, and at the end of the month, there was a negative and a deficit. I'm like, "What is going on?" There were two things going on.

                                    The first thing was the qualified client ... We were doing a lot of advertising to get new customers in or like we all do with our Facebook ads now and our Google ads or we're on shows. We're getting new customers. Are they a qualified customer? Meaning you love them. They love you. You love working with them. They're in your sweet spot, how much money they make, what kind of car they drive. They're married. They're single. They're looking.

                                    All this is in my marketing chapter. I'm giving you gems from the book. When you hang up from this, you're like, "She talked too fast." I know. I just get so excited about this. That's in the marketing chapter. The second thing is we don't know how to price our services. When I look at how does one price their services, Susie if it's not competitive analysis? Well, on page 256 I give you the formula.

                                    My formula was, I was looking at every customer, once I did the exercise on page 256, I realized that I was undercharging by $5 on every single customer. That doesn't sound like a lot, but let's take $5 times 300 customers, that's $1,500. If I take that $1,500 a month and I times that by 12, that's $18,000. That's a retirement account. That's part of your paycheck. That's your house payment.

                                    Once I flipped that switch, then all the marketing effort, then it started compounding because all that stuff we were doing, the average ticket and putting programs together for our A, B and C customers, we're really looking at, how do we leverage what we do? Managing the budget. It was like dominoes. I'm like, "Oh, it was only $5, but $5 made the difference between stressing myself out and creating prosperity."

                                    I don't let my clients just base the pricing on competitive analysis. I have to talk to them and show them, "This is what you absolutely have to charge in order for your business to work." Then, Susan, because everybody wants to hook up, then they want us to give them free books or free classes. It's only a book. Okay, $20 times a hundred people saying it's only a book is a lot of money. I want you to look at, what is the absolute minimum I have to charge?

                                    That is the hookup. That's the price. Like, "If I don't charge this. I will go out of business." Profitability isn't one thing we do. It's all the things that we do. Profit needs to be planned on day one. Profit is not the money left over. Profit is not the indicator of we're successful. Profit is the value that I bring as the business owner to the business. Why is it, Susan, that we are always the last to be paid?

                                    We're humble servants and we're like, "Oh, well, I'm going to pay this person, my marketing person, and my social media person." What about you? If you don't put yourself in that line item, you will never pay yourself a healthy, healthy paycheck. Isn't that why we do business? 88% of small businesses are not profitable. That 12% left that are profitable, Susan, they're not paying themselves the proper paycheck. Meaning, if you were to go get hired for the job that you're doing, the book is one aspect of what you're doing.

                                    It's not the whole business. I have clients that have 10/15 books, but they're not monetizing any of them. A book is a vehicle. A book is a marketing tool. A book is ... I'm sorry, I'm going to say and this some of you I'm going to hurt your heart, but I've got to hurt your heart so you can see the picture, just like that man did. He punched me in the face. I felt like he punched me in the face, right? He punched me in the face $450,000 worth.

                                    A book is an expensive business card that we need for credibility, that you need as a lead generator. I have a client, Brendan Kane who wrote One Million Followers. Brendan sells 2000 to 5,000 books each month, not for the year, each month because he knows the value of this is my lead generator. Imagine if you had two to 5,000 leads coming in to get you to the next level. Now, that's the next piece. The leads that are coming in.

                                    When I look at the leads that are coming in, a lot of us think those 2000 people are actually qualified leads. Nope. They're not qualified leads at this point. They're still fans. Susan, I'm going to give you one of my juicy, juicy, juicy, juicy, all my clients love this spreadsheet called the cash calculator. I didn't like math. I was not good at it. I was horrible at it. I was so bad at it, Susan, that I literally could not balance my checkbook and I would get so frustrated.

                                    I would go to the bank, close it and open a new one. Finally, my banker's like, "What are you doing?" I'm like, "I can't balance it." He goes, "Why don't you get QuickBooks?" I don't know, "I'm not good with a computer." He goes, "Trust me. It's going to be way cheaper for you to learn how to do this or hire someone to do it and then all those bounced checks you're doing because you're not balancing your checkbook."

                                    Since that day, which was over 25 years ago, I have not had overdraft fees. I have never bounced a check because I balance it to the penny. There are tools that can help us. This tool called the cash calculator is going to be like parting the Red Sea. You have to put two numbers in. That's it. Just two numbers. You don't have to do any of the formula. I've done that all for you because I'm your sister. I know the pain because we're entrepreneurs, but I need the right tools to help me.

                                    In the cash calculator, you put your revenue goal. You want to make it, I'm just going to do the cash calculator while we're here, a hundred thousand dollars. That's the first goal I see every author making. You're not going to make a hundred thousand dollars on the book. We're going to create a companion product. Now, the companion product, the book is the lead generator. I'm going to put your companion product. This is a great level to start, $997.

                                    I take that a hundred thousand dollars and I put the price point into my spreadsheet. That tells me I need a hundred sales at 997 to hit my a hundred thousand dollars a year. Now, that doesn't sound like a lot. Then it says, "How many qualified leads do I need?" See, we get stopped at, "Oh, I only need a hundred customers." Nope. You need a thousand leads to close that a hundred customers. Therein lies the chasm. You're not getting those thousand leads.

                                    If I need a thousand leads for the year, my calculator does all the math for you, you don't have to do it, that's 83 qualified leads. Now, let me talk about the distinction of a qualified lead because this is huge. A qualified lead means they can afford you and write the checks, swipe the card, whatever that is. That's the first qualifier. The second thing is they want and need what you have. The third thing is they're ready to buy right now.

                                    That's why I need a thousand leads. That when I look at Brendan, why he needs 2000 to 5,000 leads because based on his financial projection, that's the number he needs. My number for me to hit $7 million, I want you to listen, that's my revenue goal this year, $7 million, I need 603 qualified leads each month. If I don't hit that number, I'm not going to hit my revenue.

                                    Once I realized that everything in business, as much as I hated it, as much as Mr. Tyler said in 10th grade that I should go get a job that didn't have me have to do the math, everything in business boils down to a formula, and financial formula or a math formula. My saying is, Susan, math is money and money is fun.

Susan Friedmann:         Oh, [crosstalk 00:21:27].

Susie Carder:                Math is money and money is fun. I know we don't like math, right?

Susan Friedmann:         Yeah. For people who don't like math, but it's really interesting because I'm following this progression as you went through it. The one thing when you started off is that competitive analysis. Because I remember when I started out, I was like, "Oh, I've got this training program. What should I charge?" I looked at my competitors and they were all charging 800, a thousand dollars, which I'm talking 25/30 years ago.

                                    I was like, "Okay. Well, why don't I underprice them?" So I priced it at $200. I didn't make any sales because I found out very quickly that cheap training equals no good.

Susie Carder:                That was a smack in the face from the universe, as hard as that was, but at least you got there.

Susan Friedmann:         It was. It was. I quadrupled my prices and guess what? I started to sell. It was amazing. That competitive analysis, right at the beginning, didn't serve me in the least, but I love your cash calculator. That is a phenomenal tool and it's going to be in the show notes for you to download and to use. Susie, you have been spreading the word of how we can get all these different tools, but tell us more about how people can work with you. I think that's really what our listeners would love to know.

Susie Carder:                You saw my customer journey. I'm very transparent because I believe as entrepreneurs, you need to see yourself. You see yourself in Susan. You see yourself in me. You see yourself in the other experts Susan brings, to go, "Who ..." I always call us the unicorns. Where are my unicorns? Right? Susan is my unicorn. We love working together, that energy, and we vibe together. You got to find your tribe. The tribe is the most important. People that believe in you. People that see you for what you have.

                                    People that want to support you. I want to say, when you come over to our campus, we call it a campus because it's not about sales. It's about helping you build a multimillion-dollar business from the start, a multimillion dollars from the start. When you know the strategy and you know what to do, I am that way, just show me what to do and I'll do it. Don't give me ideas, don't give me concepts. Give me it. Are you that way, Susan?

Susan Friedmann:         Very much so, because I'm practical tips, techniques, how to do it. Now, I don't want any pie-in-the-sky stuff. Just give me the facts and let me do it.

Susie Carder:                Exactly.

Susan Friedmann:         Show me how to do it.

Susie Carder:                Right. Show me the money. Just like I'm Jerry Maguire, right? Show me the money. You can always find me on any outlet by my name, Susie Carder, C-A-R-D, as in dollar, as in dinero, isn't that great? E-R. You can go to our website. You can find us on Instagram, Facebook, LinkedIn, all those outlets. We do have a live event that we do three times a year, Susan, that brings together this group of unicorns. I don't need a lot of people. I want the right people.

                                    We don't have thousands of people, 500 people. I don't want to be in that. I want to find the few that really want what we have. That is called The Big Money Business Summit. This one is on growth exploded. It's all about taking your brand, your business, your book, and explode it. How to build a seven to eight-figure business from the start. Brendan who sells 2,000 to 5,000 books, he's going to be there. He's my brother from another mother.

                                    We're going to interview him. He's just going to be transparent, sharing what he did wrong and sharing what he did right. We'll put that in the show notes. We have them times a year, February, June, and September, so whenever you want to come to do that, you can do that. Here's another tip. I want you to look at success leaves clues. If you sell your book, if you go to poweryourprofitsbook.com/book what you're going to find is you buy the book for $20.

                                    Buy it from that site. You can find it on Amazon, Barnes & Noble, but I want you to buy it from that site. The reason being is I'm going to give you $5,000 worth of bonuses. You're going to invest $20, and I'm going to give you the ROI, return on investment, of $5,000 in free training. How do you use a virtual event to sell? That has been a game-changer, especially now in this economy, is we've got to pivot quicker, faster. How do you do that?

                                    I gave you the complete roadmap for free because I want to support us. This is about, how do we, together, collectively as a tribe, as a community, how do we win this game called business? How do you get your work out there? How do you be seen, get heard, get paid? That's my passion. That's my goal and I want to help you do that.

Susan Friedmann:         Absolutely fabulous. Very tempting. We should have this ready for the June launch of your program then. I always end off, as you know, Susie, with asking our guests about their golden nugget. If you were to leave our listeners with that golden nugget, what would that be?

Susie Carder:                Here's what I want you to know, and it took me years to accept, that wealth is your birthright. It's not for some of us, it's for all of us. Your net worth will only go as high as your self-worth. Work on self-worth. Figure out what you're worth, ask for what you're worth, but let's figure that out in a formula so that you're not doing a competitive analysis. You really know from my lifestyle, to care for my family, to contribute to the world, here's what I have to charge to be fiscally responsible for you and for your family.

Susan Friedmann:         Beautiful. Thank you so, so much from the bottom of my heart for sharing this incredible wisdom with all of my wonderful listeners and supporters who love this program, and I'm sure they love you too now. Thank you. Thank you all for taking time out of your precious day to listen to this interview. I sincerely hope that it sparked some ideas you can use to sell more books. Here's wishing you much book marketing success.