Authors Have To Be Entrepreneurs. Here’s Why.

In all likelihood you will never earn a decent income as a published author. (I’m sorry to say that, really.)

But, you can earn a decent living BECAUSE OF your book; they are an incredible platform to develop other revenue streams. Today I want to share one compelling example as to why that is. I’m going to focus on someone who published a successful nonfiction book. In fact, he got his book deal because of his blog, and he earns a significant income because of everything BUT his book.

 

Dan BlankDarren Rowse  makes 6-figures a year (close to 7-figures a year) by blogging. But the blog is merely a POWERFUL launch platform for other products which generate his revenue. This is how his revenue streams break down for April:

  • 23% AdSense Ads
  • 22% Affiliate Ads/Partnerships
  • 16% E-Books
  • 15% Continuity Programs (Subscription forums)
  • 7% Direct Ad Sales
  • 6% Chitika (A search-targeted advertising solution)
  • 5% Amazon Affiliate Program
  • 3% Job Boards
  • 1% Speaking

The last revenue stream he left off the chart because he only collects royalties twice a year: book sales. He said if he included it, it would rank in the 1-3% range. TINY compared to his other revenue streams.

Darren’s book is ProBlogger: Secrets for Blogging Your Way to a Six-Figure Income and his websites include Problogger.net, Digital Photography School, and Twitip.

Okay, let’s model this out. I’m not doing this to pry into Darren’s finances, but to understand how it is someone can really earn a living because of their blog and/or book. Assuming Darren made $750,000 in 2009, this is how the revenue streams would break out (on average) for each month:

  • $14,375 AdSense Ads
  • $13,640 Affiliate Ads/Partnerships
  • $9,920 E-Books
  • $9,300 Continuity Programs (Subscription forums)
  • $4,340 Direct Ad Sales
  • $3,720 Chitika
  • $3,100 Amazon Affiliate Program
  • $1,860 Job Boards
  • $620 Speaking

Keep in mind, this is PER MONTH. Now, some revenue streams deliver higher revenue depending on if there is a new product launch or time of year, so this is just a guestimate.

If you add in the book sales, that would be an additional $700 or so a month. BARELY ANYTHING compared to his other revenue streams. YET, the book features prominently in his marketing as it establishes his authority and builds his platform.

To give a more balanced view, let’s assume that 30% of Darren’s revenue goes to expenses and another 30% goes to taxes. (Darren works from home, and has been careful to not build up a lot of overhead in his business.) Even with these figures, he would still take home $300,000 a year, own his business, along with a variety of revenue streams and the skillset that goes with them.

What does this mean for you? It means that AUTHORS HAVE TO BE ENTREPRENEURS.

Not because the world needs more business people, but because no one is more passionate about your work than you – no one can connect with your target audience more than you – no one wants your writing career to succeed more than you.

The web affords you incredible opportunity that authors in the 20th century never had. This is not something disrupting to your goals, it is empowering!

Thanks!

-Dan

Writers: Develop Your Audience, Not Just Your Book

As a writer, yes, it’s your responsibility to develop a GREAT book. But it is ALSO your responsibility to create an engaged audience. Maybe you can’t conjure up 4 million passionate fans by yourself, but you may be able to engage 400 or 4,000 fans.

Dan BlankSteve Blank and Eric Ries have some innovative theories about this. They focus on startup companies – those who have a great idea for a product, get financial backing, then work furiously hard to make it a reality.

Most startups focus on PRODUCT development. Once they get financial backing and put the team in place, they lock themselves in a room and focus intently on developing the PRODUCT, working towards launch.

What Steve and Eric evangelize is the idea of focusing of developing CUSTOMERS.

This means involving your target audience at every step of the development process, and constantly iterating your product based on their needs & feedback.  So instead of focusing on the ‘thing’ you are building, you are focusing on the needs & people you are creating a solution for.

It’s not a direct correlation for authors, but consider it this way: Too many authors work alone in a room on their book, then get the gears rolling at a publishing house, only to drop their LIFE’S WORK into the world, and have it greeted by silence.

Do you want crickets chirping when your book finally hits the shelves?

These authors developed the product, but not the audience. They ASSUMED people would react a certain way. And we all know what happens when you assume…

If you want to earn a living as an author, don’t focus just on the book. Focus on the audience – at every step of the process, involve them. By the time you come to a publisher or agent with your book, you should have proven your ability to not just write a book, but develop an audience.

Thanks!

-Dan

How to Get Out of That Rut & Push Your Career Forward

Is your career in a rut? Today I want to address this head on – why our careers get caught in ruts, and how to get them out.

We Let Ourselves Off Too Easy

Every day, I look for inspiration anywhere I can find it – musicians, athletes, artists, entrepreneurs or an unusually helpful person at the ice cream shop. I’m inspired by people who put in WAY more effort than everyone else, and reap the rewards. I think this is why our culture is so enamored with the Olympics.

But most of us don’t perform to the level of Olympic athletes. Why is that? Do we blame innate skill, personal discipline, company culture, or something else? Don Dodge has some ideas…

Dan BlankDon Dodge explains how Google’s goal setting for their employees is so much different than any other company he’s worked for:

“Google sets impossible bodacious goals…and then achieves them. The engineering mindset of solving the impossible problem is part of the culture instilled in every group at Google. Tough engineering problems don’t have obvious answers. You need to invent the solution, not just optimize something that exists. Every quarter every group at Google sets goals, called OKRs, for the next 90 days. Most big companies set annual goals like improving or growing something by x%, and then measure performance once a year. At Google a year is like a decade. Annual goals aren’t good enough. Set quarterly goals, set them at impossible levels, and then figure out how to achieve them. Measure progress every quarter and reward outstanding achievement.”

“OKRs are Objectives and Key Results. I submitted my Q1 OKRs with what I thought were aggressive yet achievable goals. Not good enough. My manager explained that we needed to set stretch goals that seemed impossible to fully achieve. Hmmm…I said “This is just a 90 day window and we can predict with reasonable accuracy what is achievable. Why set unrealistic goals?” Because you can’t achieve amazing results by setting modest targets. We want amazing results. We want to tackle the impossible.”

Oftentimes we don’t push ourselves hard enough, and we set our goals way too low. We also under-utilize our existing resources – making poor use of those we have, and pretending that we couldn’t possibly achieve our goals without additional help.

For example – consider how different the experience is between going to the gym by yourself, and going with a personal trainer:

  • Working out by yourself: Sure you may push yourself REALLY hard on Monday, but then feel soar on Tuesday and tell yourself you should take it easy that day. On Wednesday you put in a decent workout, then you take off Thursday because you feel your muscles need to recover. Etc etc.
  • Working out with a personal trainer: I’ve had plenty of friends tell me how they go to a workout with their personal trainer on a Monday – and they kick their butt – working them really hard. Then, on Tuesday, the personal trainer works you JUST as hard as they do on Monday. Then, on Wednesday, they work you JUST as hard as the previous two days.

I’m not advocating which is a better way to build a healthy body – but that without an extreme expectation, it is all too easy to stop after we’ve “done just enough.” But “just enough” is rarely enough to reach your goals.

There is No “There” There

When trying to get out of your rut and achieve amazing goals, don’t get distracted by seemingly ‘new’ things that you feel are the key to your future, but are really distractions.

Think about how the music industry or newspapers approached transitions in their business – and miscalculated at every step. Clearly, each did LOTS of stuff to try to evolve, but they always picked the wrong thing.

They spent a lot of time focusing on tactics, and not on listening to their customers and making strategic changes to the value they provide. It’s the same as people who get on Twitter and think that alone means they have an online marketing strategy.

I love the phases “There is no there there.” What it means (to me) is that we often chase something outside of ourselves, thinking that if we possessed that thing, then we would achieve our goals. That if we moved to that dream city, all would be golden.

But the solution to your problems does not lie outside of you. It is all about making the best with what you have, wherever you are. The solution is already inside of you – in your head and in your hands.

You Have to Iterate Your Way to Success

If your goal is “I want to be a published author” and you have no measurable steps to get there, then you are VERY unlikely to achieve that goal. Why? Because you will get lost in a sea of 100 tactics that you pursue without any strategy, benchmarks or smaller goals along the way.

Think about diets that work and diets that don’t. You don’t lose 100 lbs by saying: “One year from now, I will step on a scale, and I expect to be 100 lbs lighter!”

Instead, you measure your food portions and your daily activity. You set weekly goals, and monthly goals. You track performance and you iterate as you go along. You rethink every process and resource you have, you create new systems and constantly see which work and which don’t.

You need the same thing to develop your career and achieve your goals.

Reverse Engineer the Life You Want

Where do you want to be a year from now? What is an achievable goal that would build the life and career you want? Let’s look at an example. Here’s the premise: you are an accountant who has been writing fiction stories for years, but has never been published. More than anything, you want to be known as a writer & author, not just an accountant. Okay, here we go:

  • 1 Year Goal: Build an Audience of 1,000 engaged Fans of your stories. This can be measured in a number of ways, but let’s just assume that since you don’t have a lot of extra income or connections in the publishing industry, you will measure it by Facebook fans, newsletter subscribers, Twitter followers, event attendees, website visitors, or the like.
  • Quarterly Goals: How many stories must you publish each quarter? What is the ramp up to your 1,000 fans? Is it split evenly 250 each quarter, or do you plan on backloading it once momentum starts: 100 fans for Q1, 200 fans for Q2, 300 fans for Q3 and 400 fans for Q4. How else will you know if your goals are on track as the year evolves?
  • Monthly Goals: What tactics will you employ? Consider both content and marketing initiatives. How many new stories must you share each month. Who will you partner with the access this audience? Maybe you want 1 new story posted each week, and 1 new partnership established each month.
  • Weekly & Daily Goals: This is where the real work lies – breaking down the larger strategies into daily goals & tactics.

Inherent in all of this is not just that we are setting goals, but we are defining HOW those goals will be measured. What’s more, we are focusing on things that you yourself can control.

If you said “I want to have a book deal with a major publisher within 1 year,” that is an awesome goal; but if you are an unknown writer with zero publishing industry connections, that goal can be largely out of reach and out of your control. At the very least, it is far less likely than you creating 1,000 engaged fans. Why not at least start there?

Instead focusing on the book as the goal, think of the audience as the goal.

Work on building your author platform, and creating an audience for your work. This will serve the larger goal of eventually being published, but by focusing on achievable shorter term goals to get there.

But don’t forget the Google example above – be aggressive about pushing yourself to this goal. If you want to really push it further – then expand it from 1,000 fans to 10,000 fans, plus add in that you want 10 media mentions a month, and to meet (in person) 100 published authors this year.
My point is this: to get out of a rut and achieve your goals, you need to be specific about what you will achieve and how you will do it.

Thanks!
-Dan

You Are Not Your Job Title, You Are Your Passion

So many of us get caught in ruts, buried under too many tasks, and trapped between competing priorities. With work, family, hobbies and financial obligations, it’s easy to wake up one day – when you are 32 or 42 or 52 and think, “How did I get here? Where am I going?”

Dan BlankSo today, I want to talk about ruts, about how we define ourselves and about how we grow.

Spinning Your Wheels But Not Getting Anywhere

I know so many happy people – thankful appreciative people – who, deep down, feel a great deal of angst that they are not achieving what they hoped to in this world.

Do you feel like 1 in a million in your career? Do a search on LinkedIn for the term “IT Manager” and it delivers 1,561,076 results. “Administrative Assistant” gives you 450,404 results. “Marketing Director” gives you 1,391,058 results.

If your title is one of these – it’s easy to see why someone would feel like a cog in the machine – and begin to wonder: “Do I matter? Is this the legacy I wanted to build?”

I think the web empowers us in many ways, but it also fuels the realization that others are achieving the goals that you wanted for yourself.

How Do You Structure Your Personal & Professional Growth?

For many folks, the first 21 years of their lives are highly structured, with systems in place to push us forward every few months into a new semester, a new class, a new test, and a new set of people. The world kicks us to the next stage.

But after age 21, that tends to slow down dramatically.

Did you meet as many people between ages 21-31 as you did from ages 11-21? Did you push yourself in as many new directions, stay up late learning about new things, did you make as many decisions about your future?

Oftentimes as adults, we pursue opportunities as they arise, and we approach them cautiously, to ensure there is little risk. But this cautiousness can lead us to stagnation… as it seems safer to stay with what we know, than to make a change that can risk how we define ourselves or provide for our families.

So the question is: how do you structure personal and professional growth? How do you start down a new path?

The Question Isn’t “How,” But Rather: “When.”

If you want your career to move in a new direction, if you want to redefine your value to the world and the legacy you are building, it is not a question of “how” to do it, but rather of “when” you do it.

Nobody has the safe and easy answer for how to move forward. No scheduling or productivity tool in the world will suddenly free up 2 hours in your day so you can focus on learning a new skill.

And the answer to the question of “when” is always the same:

RIGHT NOW.

Because if you don’t do it right now, then you never will.

Defining Your Value

You are not your job title. This idea is so counter-intuitive in the U.S., it bears repeating: YOU ARE NOT YOUR JOB TITLE.

This can be both humbling and empowering. If you are a CEO at a huge company, you may not want to hear that. The job title is an affirmation of your years of struggle, determination and achievement.

But if you are a middle manager at a middling company, sitting in a gray cube all day, the idea that ‘you are not your job title’ may be a revelation.

What if you could redefine the value you deliver to your community and to the world? What if people would look at you in an entirely new light – what would you want that to be?

What if you could choose the one thing you are most passionate about, and be known for that?

To move in this direction – the solution is very much about learning, about development, about pushing yourself and very much about breaking down the walls that box us in.

In the coming months, I will be launching some online courses – ways for us to work together to redefine your career, grow your skills and connect with a community you believe in.

So let me know if you are in a rut – let me know where you want to be – and let me know how I can help. @DanBlank.

Thanks!

-Dan

The Secret to Achieving Your Goals Online: Perseverance

How do people succeed when building their brands online? That’s a question I’ve been researching. And I have to say, when I found the answer, it surprised me.

Regardless of your goals, there is one overarching secret to success. This is the secret talked about in the early part of the 20th century by Napoleon Hill, and it is the same secret that I keep hearing again and again from successful entrepreneurs and those who have build powerful personal or business brands online.

Dan BlankIn fact, it is so well proven, that it can hardly be called a secret.

So what is the secret to success? Perseverance.

I know, you were hoping I’d say something else. Something that was easier, something you could buy or obtain to ensure success. But that thing doesn’t exist. There is no get rich quick scheme or miracle diet. There is no SEO tactic, no newsletter list building secret, no WordPress plugin that delivers the value you are looking for. There is only perseverance.

So today, I want to talk a bit about what that means when considering how to succeed online while you are building your brand, creating great content, and connecting with your community.

The Difference Between Being Successful and Failing

If I had to explain the background of most successful people, it would go like this:

Fail. Fail. Fail. Fail. Fail. Fail. Fail. Succeed.

It’s funny, this is why the phrase ‘fail early and fail often’ has become so popular. Ironically, Jason Fried of 37 Signals has a rant about how much he hates that saying, yet attributes the huge success of his Signal vs. Noise blog to perseverance. Inherently, perseverance implies that you kept going, long after all signs pointed to failure.

So what separates those who succeed from those who don’t? Well, this is the background of most people who don’t succeed at their goals:

Fail. Fail. Fail. Fail. Fail. Fail.

Most people stop trying just short of reaching their goal. They get burned out, they refuse to innovate, they listen to all the voices around them that say “Why are you bothering, you are just embarrassing yourself.”

The Harder You Work, The Luckier You Get

I am a huge fan of the website Mixergy.com, where Andrew Warner interviews entrepreneurs 5 days a week. When explaining his own experiences in building his website, he said that if you go from posting 1 video a week to posting 5 videos a week, the gain in traffic and influence is not a five-fold increase. It is exponentially more.

Why is that? One reason is that when people know you are there every day, they make it a part of their routine to check you out. Another is that it increases the chances of serendipity – of luck – by at least 5 fold.

On the web, this can manifest itself in a number of ways: SEO, getting picked up in social media, having the right person see one of your videos, impressing a key influencer, etc. The chances of a 100 good things happening just increased exponentially.

How to Have Perseverance

So how do you ‘get’ perseverance? What’s the secret to the secret? There are lots of ways to describe it, but I will try to sum it up this way: a strong belief in a goal. That’s the secret to perseverance.

So why do people try, try, try and fail?

Lots of reasons. But oftentimes, it is because they didn’t believe strongly enough in the goal. Maybe it was a banana company who saw a market-opportunity by extending their brand into banana flavored gum, but found it difficult to succeed in that market, so they fail.

I’d bet that they failed a lot faster and a lot harder than say Billy Bob’s Gum Company – where Billy Bob is the owner and LOVES gum – thinks about gum every day, and is a third generation gum manufacturer. I would bet that Billy Bob would find a way to make banana flavored gum a success.

So, inherent in this is to not just have a goal, but truly CARE about it. What this often means is that it has to be about more than money.

Often, the goal needs to be so compelling, that it even supersedes basic human emotions. Consider how many of us approached a sport we weren’t good at when we were in elementary school. Let’s just say it was kickball, and you were bad at it. Chances are, you got up to the plate, all the other kids were staring at you, you gave it a good shot, and couldn’t even kick the ball. It was just embarrassing. In all likelihood, as much as you wanted to be good at kickball, you just shied away from it because it was so embarrassing.

Those who succeed, don’t shy away, they don’t stop.

Perseverance in Building Your Brand Online

If you are wondering why your blog is getting no traffic, why no one is following you on Twitter, why your ‘personal brand’ is failing to gain attention online, don’t look in the mirror and think that it’s just not in the cards for you. It is.

You can succeed in your goals of building your brand, product or service online. But only if you want it more than the next person. Only if you keep posting those blog entries even when it feels stupid. Only when you say to your self “I am failing so badly that it’s embarrassing, but you know what, I’m going to keep trying anyway.”

Thanks!

-Dan