You’re hoping to write a book, but you just can’t justify the cost of publishing it. Whether you’ve recently started up a business and are tight on funds or are struggling to see how you’ll make a return on your investment, we completely get it – publishing can cost A LOT.
That being said, there’s a handy little trick to significantly lowering your publishing costs that most first-time authors don’t know about. In fact, by employing the right methods, you can easily cut your publishing expenses in half or more. It almost seems too good to be true, right?
Well, rest assured that it’s more achievable than it might seem. The key is to approach businesses within your niche and ask them to sponsor your book by creating high value partnerships. We’re not talking about calling and e-mailing every single person in your contact list and asking them to donate to your cause. Instead, think of partnerships as a means for you to share your skillset with your sponsors in return for their financial donations to your book’s publishing costs. In a nutshell, you’ll be providing your sponsors with something tangible in return for the funds they inject into your book.
Let’s say, for instance, that you’re writing a book about ways to pay off your home quickly. You decide to align yourself with a brokerage firm. They donate $1,000, $2,000 or $5,000 to your publishing project and in return, you offer them one or more of the following.
- An interview in your book
- A quote in your book featuring content relevant to your audience’s interests
- Advertising on your book’s cover, backside or flap
- A banner or booth at your book’s launch
- Endorsements when you are invited to speak publicly
- Reviews or testimonials of their product
- Sharing information you come across in your business with them
While all of this might sound great in theory, a common concern that most new authors have about partnerships is the fear that people won’t take them seriously enough to invest. Firstly – the fact that you’re writing a book is, on its own, a huge factor in boosting credibility!
However, if you’re still apprehensive, you can include the following information when making pitches to investors.
- How long you’ve been in business
- The number of clients you’ve worked with
- The number of brands/corporations (if any) you’ve worked with
- Any mentions about you in the press
- Any events you’ve spoken at
- The number of people on your mailing list
- How many followers you have on social media
You get the idea. The quickest way to lock in partnerships is to convince those you’ve aligned yourself with that you can bring exposure to their business. Life is a give and take, and pitching for partnerships is certainly no exception. You absolutely must be sure to highlight the value that you (as an author, industry expert or business owner) can provide to those who invest in funding your book.
So, where do you find potential partners?
Look within your niche!
It will be of little to no use to pitch to every law firm in your city/country if you’re writing a book about copyright law. Start by targeting the business contacts you’ve built up a relationship with throughout your career, then expand your web from there. Focus on pitching to firms specializing in copyright law or repeat clients who might have a vested interest in it (digital agencies, creative studios and so on). The key word to remember when pitching is niche, niche, niche.
The harsh reality is that your proposals for partnership will be declined much more than they will be accepted. For this reason, aim high. Pitch to 30 or even 40 different potential investors. Not only will they act as practice for you to refine your pitch, but at least one of them is bound to accept if you’ve put in the work on your end.
When pitching to individuals or businesses you don’t have a personal relationship with, include the below criteria for ideal results.
- Highlight what your business does and what you plan to accomplish with your book
- Demonstrate the potential link between both of your businesses
- Present multiple investment options (see above) so that the potential partner has a selection of choice
- Clarify the value you can provide
- Describe how you will be marketing your book
If you do know the individual or business, personalize your pitch as needed and highlight the strong points of your business or personality that have been made clear throughout your relationship.
So, what are you waiting for?! Get pitching! Partnering with like-minded businesses can not only lower your publishing costs, but also open up a host of exciting opportunities for collaboration and more. You’d be surprised at just how willing many people are to join forces and advance themselves either personally or professionally together.
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