03 leading mentors - book creation

8/10/2019 03 Leading Mentors - Book Creation

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Copyright 2006-2009. Mission Publishing, a division of The Mission Marketing Mentors, Inc. All rights reserved.

These materials are subject to the license set forth in the Publishing Mentor Agreementand may not be copied or used except as specified in the license.

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The Leading Mentors Publishing and Marketing System

Teleseminar #3

This transcript is only minimally edited so you can still benefit directly from the live,

transformational experience of the original session.

3:01 Step 1 of the Proprietary System to Author Books and Information ProductsThat Can Attract a Lifelong Stream of Clients CD Track 1

John: Well, hello everyone. This is John Eggen, the Publisher at Mission Publishing.Welcome to the third teleseminar in The Leading Mentors Publishing andMarketing Program. Our teleseminar tonight will last 60 minutes. We have awonderful session planned for you. In this session, Ill give you a copy of mysystem planner for Step One, so you can begin to take action on it.

3:02 Establish Yourself as an Expert and Leader

This program is about more than just helping you develop a book or informationproduct. Its also about helping you establish yourself as the distinctive expert andleader that you are and want to be, so youre living your optimum life bothprofessionally and personally that is the life that you really want to live.

Your books and information products are really just a means to that end; ashortcut, actually. This teleseminar tonight will show you some of the mostimportant strategies and secrets to do all that. In fact, Im going to start by giving

you what is perhaps the biggest key of all. If you were in my last mentoringprogram, youve heard this before. Please listen again, because Im going to beadding quite a bit of advanced material tonight that you havent heard and willwant to.

3:03 The Secret of How to Do More by Doing Less and Less

When I was 22 years old, my second mentor was a man named Tom Flamma.Tom was a very aware being, about 55 years old at that time. One day, we werewalking down the street in his hometown of Philadelphia. We were talking aboutthe subject of mastery, and how some people become genuine masters, whether

its in martial arts, business, the arts, or any discipline.

Tom turned to me and said, John, do you know the difference between a masterand a student? I thought for a minute, and said, No, I dont. Tom said John, astudent does less and less by doing more and more. But, a master does more andmore by doing less and less. My friends, Ive never forgotten that.


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Now, about 30 years later, I have to tell you that one question that Tom posed tome, at the tender age of 22, and his answer to me, probably has influenced my lifemore than any other single thing anyone has ever said to me. Tom was a master inhis field. Think about that. By a single question, he has shaped my entire life.

Since that day, Ive devoted a good portion of my life to searching out the secretsof how to do more and more by doing less and less. I made discoveries thatradically transformed my life, and also the lives of my clients. I plan to sharemany of those discoveries with you during the next few months in our program.

3:04 A Metasystem for Success CD Track 2

The secret of how to do more and more by doing less and less is sometimes calledleverage. Ive taken everything Ive learned in more than 30 years and Ivesynthesized it into a single system, which Ill begin to teach you in this session.Its a meta-system, really. This meta-system is a combination of what I call

vision, strategy and execution.

Today, its fashionable to talk about execution, which is, of course, taking action.Execution or action certainly is important, but when you leverage it throughvision and strategy, you work smart rather than working hard. You can getexponentially greater results in less time. You can succeed at whatever isimportant to you while creating the free time you want. By the way, theres afourth part of this meta-system that Ill be discussing with you in the future.

In our last teleseminar, we discussed three big ways to earn money with a book orinformation product. We discussed the advantages of Strategy #3, which I call theInvestor Strategy. Almost all of you indicated on your program application thatyou wanted this kind of strategy. The smart system behind the Investor Strategy isbased upon the meta-system I just discussed: vision, strategy and action.

Lets talk about this meta-system for a couple of minutes, and then well begetting right into the nitty-gritty of how you can implement the Investor Strategyto get the life you want.

3:05 Increasing Your Results with a Vision

First, lets talk about vision. I want to emphasize that vision is a very simple, no-cost way to naturally and dramatically leverage or increase the results you getfrom any action. In fact, another mentor of mine called vision, or envisioning,thinking from the end. He said that it is the process of defining the ultimateoutcome you want for anything. He asserted that it is the utmost, ultimate secretof life.

To give you a sample of why he called envisioning the utmost, ultimate secret, Idlike to do a little exercise with you. If you have anything in your right hand right


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now, like the telephone or anything else, please put it down or put it in your lefthand, so that your right hand and right arm are entirely free to move.

Take your right hand and arm and reach around your left shoulder and touch yourback, noticing the spot that you are touching for a second. Go ahead and do that

right now. Just reach around your left shoulder and touch your back, noticing thespot youre touching. Now, put your arm back down at your side and relax yourarm totally.

Now, I want you to visualize another spot, at least 12 inches farther down yourback than the first place you touched. Visualize that new spot and keep onvisualizing it. As you keep on visualizing it, take your right arm and reach asclose as you can to touching that new spot youre. Notice how much fartheryoure able to reach the second time, and how much farther it is than the firstplace you touched on your back a minute ago. Of course, the question is Why?The answer is Because you envisioned it.

In life, whenever you have a specific, definite vision, your entire beingconsciously and unconsciously will strive to fulfill whatever it is that youenvisioned. Thats why my first mentor called envisioning the utmost, ultimatesecret in life.

For instance, there is a well-know 20-year old study that was done at HarvardUniversity back a couple of decades ago. Before graduation one year, Harvardsurveyed their upcoming graduates, and found that 3% of them had writtenfinancial goals defining the financial results they wanted to achieve during theirlifetime.

Obviously, 3% isnt very many people. Whats interesting is that after 20 years,Harvard contacted everybody that was in the study. What they found is, for themeager 3% that had the financial goals, their net worth actually exceeded the networth of the entire remaining 97% of the people in the study.

In the same way, if you want to get the greatest results from your informationpublishing, the first step is to determine your vision; in other words, the end resultthat you honestly want it to achieve. Once you do, if you keep it in mind, yourentire being will strive to achieve it, consciously and unconsciously.

Well discuss this more in the future. But for the sake of this teleseminar and theplanning youre doing, I wanted to give you two questions Ive found that areexcellent shortcuts to help you identify what you honestly want to envision foryour professional and personal life.

As many of you know, the world-renowned management guru, Brian Tracy, isone of my publishing clients. Brians a wonderful and wise man, and personally,Ive learned a tremendous amount from him over the years. One of the things Ive


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learned from Brian I want to pass along to you right now. Its a wonderfulquestion I want you to ask yourself to identify your true long-term vision or goal.Dont worry about writing this question down because its already listed in yoursystem planner, which Im going to give you as we get a little further along in thesession.

Heres the question that youre going to see on the planner and that ultimately Idlike you to answer as an assignment. If you had all the time, money, resources,contacts, and everything you need, and you want to design your life and businessperfectly, what would it look like ten years from now?

Id like you to really think about that question and answer it honestly, and as fullyas you can. The reason is that Im going to suggest that whatever book orinformation product you develop as a result of this program ought to be developedso it helps you in some specific way to achieve your answer to that question, thatend result, that long-term goal ten years from now.

Heres another question that will help you determine your vision, the end resultyou want to achieve. Its a question I learned from my good friend and mentor,Dan Sullivan, in Canada. Its a great question to help you determine where youwant to be, not ten years from now, but just three years from now. Id considerthree years to be an intermediate-term goal. This question is also described inyour system planner, which Im going to give you in just a few minutes. So, youdont have to worry about writing it down right now.

Heres the question that youll be given as an assignment: If we were having thisconversation three years from today, and you were looking back from that date tonow, what has to have happened in terms of your personal and business progressfor you to feel happy with your progress? Again, Id like you to answer thatquestion honestly.

Notice that it says what has to have happened in terms of your personal andbusiness life for you to feel happy with your progress? Im asking about whatthings will honestly make you happy three years from now. So, please do thinkabout that as you do the assignment, and describe it me.

3:06 Accomplish More Using the Right Strategy CD Track 3

If you want to accomplish more and more by doing less and less, having a clearvision is the first step. But, its not the only key. Another big key toaccomplishing more and more by doing less and less is strategy. There are manydefinitions of strategy. To keep it simple, for now lets just say strategy is howyou achieve what you envisioned.

For instance, imagine three people who live in New York City, and decide theywant a better life. They decide they want to move to San Francisco, because it has


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one of the most ideal climates in the world. So, San Francisco is their ultimateoutcome. Now, none of these three gentlemen happens to own a car, so theydecide to walk. They all put enough money in their pockets to pay for motels andfood for the trip, and they all start out together walking.

After a few miles, one of them spies a store in the distance that sells maps, andtalks to the two others about taking a minor detour and stopping there. One of thethree people is very execution-oriented, very action-oriented. He doesnt want towaste time stopping and talking. He wants to get going and make it happen. So,he refuses, and keeps walking. He knows that the sun sets in the west, so hefigures he can just let the sun guide him everyday, and it will just happen. Hestarts walking the 3,000 miles.

In his case, his vision, his focus, his end result is San Francisco, even though hedoesnt know exactly where it is, and his strategy is to walk eight hours a day,staying in hotels every night. He wants to get there in 200 days, which is about

seven months. He gets confused and sidetracked many times along the way. Heends up running out of money, because he never really planned it very well. Heends up in Kansas City, which is a very different place than the San Francisco thathe dreamed of.

Meanwhile, back in New York City, the second and third people have stopped tobuy a map. The store sells roadmaps, and the shopkeeper has been to SanFrancisco many times, so he helps them chart the shortest route on the roadmap.This gives the second person a great idea. He decides to rent a car and drive the3,000 miles, taking the shortest route identified by the shopkeeper.

Now, he has a much clearer vision than the first gentleman, and he has a muchbetter strategy. Driving eight hours a day, he gets there in about seven days. Histotal expenses for the trip are much different than the first person, the execution-oriented person that just took off and started putting himself in action. Moreover,he starts living his new lifestyle, starting with the second week of his experience.

Why did he get these benefits? It was because he adopted a better strategy. He gota roadmap, and he rented a car and drove, rather than just executing or takingaction and walking.

The third person has heard the shopkeeper say he has taken the trip to SanFrancisco many times. Hes a thoughtful person, so he gets a map, too, but hedecides hell tap the shopkeepers experience. So he asks the shopkeeper to sharehis experience, to be his mentor if you will, and tell him what the smartest way isto get to San Francisco, since the shopkeeper has done it so many times.

The shopkeeper surprises him, suggesting something he had never considered.The shopkeeper suggests that he just take a plane. The third person invests in aplane flight. He arrives in San Francisco in less than seven hours, much less than


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the seven days that it takes the fellow with the rental car, and exponentially fasterthan the seven months that it took the execution-oriented first guy to run out ofmoney in Kansas City.

The third person was wise enough to let the shopkeeper serve as his mentor. He

adopted the smart system his mentor had learned over his years of experience oftraveling to San Francisco so many times. Therefore, the third person does it all ata fraction of the price paid by the other two people. He starts living his dreamed-of new life in San Francisco starting with the second day of his experience, notthe second week, or the seventh month. By the way, because of his smart strategy,he has seven months of money left, which he uses as a nest egg to bankroll hisnew and better life in San Francisco.

Of course, this little story illustrates how vision and strategy actually increase theresults you get for each unit of action or execution you put out. Execution itself ispretty neutral. Execution without vision and strategy is ignorant. Now, by

ignorant, I dont mean its stupid. I just mean its ignorant or without knowledge.

3:07 The Key to Effective Execution CD Track 4

A lot of people have read the testimonials on my website, and they wondered howIve helped all those professionals, experts and entrepreneurs get such significant,tangible results. The answer is that I teach my clients how to do more and moreby doing less and less. I teach them leverage, working smart. I teach combinationsof vision, strategy and execution in almost everything I teach my clients, and mostimportantly, you, because you are the person I am talking with and helping rightnow.

3:08 Which System Gives You Greater Results

Lets apply strategy to your authorship of books and information products. In ourlast teleseminar, I taught you the three big strategies to earn money with booksand information products: the Writers Strategy, the Marketing Strategy and theInvestors Strategy. We discussed in some detail why the Investors Strategyhonors your God-given gift, your distinctive expertise, in an unsurpassed way.

I said the Investors Strategy includes everything in the second strategy, TheMarketing Strategy, but it also uses a smarter system, one that can give you muchgreater results. In other words, its like flying compared to driving or walking. Itcan give you significantly greater results in less time because it is a smartersystem. That smarter system is based upon several key business principles forindependent professionals and experts.

You should really think about the four things that Im about to tell you. First ofall, you can earn more money from marketing products than from marketinghours. Almost all independent professionals envision marketing their time. But,


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even if you charge very high fees for your time, there are just eight to ten hours inmost peoples work day, and then you are maxed out. Whenever you take timeoff, you make nothing.

If you turn your expertise into a product, it can be duplicated almost endlessly and

marketed around the clock, earning money for you while you sleep, or are onvacation. For instance, one of the publishing experts on my team is Dan Pointer.Ive brought him in as a consultant on my publishing products for more than 15years.

A while ago, we were talking about management guru Brian Tracy, my publishingclient, and Dan brought up how Brian charges more than $15,000 per presentationas a professional speaker, which is obviously great money for 60 to 90 minutes.However, these talks require a lot of prep time and travel time. Therefore, Brianhas adopted what I call the Investors Strategy. Hes turned his expertise intobook content, and then into audio learning programs, multi-media programs,

mentoring programs, and so on. Dan said Brians goal is to develop a twenty-to-one ratio of product to speaking, or 95% product to 5% hours.

Thats a great example of how to take advantage of this principle. By the way,Ive since seen this information about Brian published in one of Dans books, so Iknow Im not violating his privacy or any trade secrets by sharing those secrets bysharing those numbers with you. So, you can earn more income from marketingproducts than hours.

Second, another principle the Investors Strategy smart system is based on is thatyou can earn more income from marketing information about a product or servicethan you can from the product or service. Good information is extremelypowerful, so people will gladly pay significant amounts because of its value andthe benefits it will deliver.

Yet, in todays digital world, the cost to create, duplicate and disseminate it getslower and lower year by year. For the typical information product, there is a veryhigh profit margin, say 50% to 90%, compared to physical products and services.A third principle behind the Investors Strategy is that books are an excellentinformation product to start off with, if youre an independent professional whoseeks to become a recognized expert in your field.

Of course, there are many reasons why. Technological innovations have madebooks today fast, cheap and easy to create. There are time-tested systems toauthor them in 90 days or less. Three thousand years of history have made a bookthe ultimate symbol of expertise, so it can set you apart from everyone else inyour field. If it is developed right, a book can be your ultimate lead generator, themost powerful marketing tool you can ever have.


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For example, its more effective as a lead generator than articles, e-books, orspeeches. A book is your ticket to free media publicity that money could neverbuy. The return on your investment from new clients that your book attracts toyou, year by year, can be huge.

A fourth principle behind the Investors Strategy that allows you to getsignificantly greater results in less time is that it honors your God-given gifts asthe valuable assets they are. Its getting your knowledge down, one time, into abook first, if you use the deductive approach. Then, using todays inexpensivetechnologies, it quickly and easily recycles your knowledge into a variety ofinformation products and programs that can allow you to reach many more peoplewith your message than you otherwise could. In return, it can generate multiplestreams of long-term income.

Heres a quick example of what Im saying. Coaching today is a field likeconsulting and many other fields, in that the number of coaches continually

continues to grow noticeably year after year. Because most coaches dont knowhow to differentiate themselves from the other professionals in their field, moreand more coaches are struggling to earn the income that they want.

On the other hand, my friend Dan Sullivan, of the Strategic Coach in Toronto,Canada, a fabulous coach I worked with for three years, is doing very well. Thelatest I heard is Dan is doing a reported $25 million in annual revenues. He takesoff about one third of each year as free time. How does he do it? He does it byhonoring his God-given gifts as the valuable assets they are, leveraging them tobenefit many more people than he could have otherwise through the InvestorsStrategy.

Dans not the only one. The leaders in almost every field are doing it. The yogateacher, Bikram Choudhury, helps many more people this way and he earns areported $7 million annually. Then, there are independent professionals who havebecome international leaders and are helping people internationally through manyof the time-tested information products that Ill be sharing with you in a minute.They are earning a whole lot more.

Dr. Deepak Chopra earns a reported $70 million annually. Anthony Robbinsreported $90 million annually. Theyre all using this type of strategy to leveragetheir expertise to help many more people. In other words, they chose to fly, ratherthan to drive or walk into the ultimate outcome they want, the vision of theiroptimum future.

Ive reviewed in depth all the applications that you and everyone in the programhave submitted. Virtually everyone said their goal was to develop a book, as wellas information products. In other words, virtually everyone has said that they areinterested in strategy number three, what I call the Investors Strategy.


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3:09 Step 1 Know What You Want CD Track 5

Pull up the document piece, the planner that Ive developed for you. You can findthis on our website at www.missionmarketingmentors.com/planner1.pdf.

Im going take you through everything, step-by-step. Step One is to know whatyou want. In the Investors Strategy for developing books and informationproducts, thats the first step. Although there are many components of this step, inthis program we will concentrate on the most essential ones. I plan to teach themore advanced components in the future.

Of all the essential components, knowing what you want, and knowing yourvision and goals is a top priority, because envisioning is the utmost, ultimatesecret, as I explained at the beginning tonight. What you envision, your entirebeing will consciously and unconsciously strive to fulfill. At this point in theprogram to determine your vision, Im asking you to answer the two questions I

posed to you earlier. These are on page one of your planner.

Between now and the next session, please take as much time as is feasible foryou, and answer both questions as completely and honestly as you can. Todetermine if you are on track, notice how you feel as youre answering thesequestions. Your answers should fill you with energy and make you feel great. Ifthey dont, youre probably not being honest with yourself about what you reallywant. If so, revise your goals, your vision of the future that you want to create,until you really feel great about them. Thats when you know youre on track.

3:10 Leverage Your 55 Information Publishing Options CD Track 6

Another component of step one is to know your information publishing options.Once youve answered the two questions I gave you and have identified thepersonal and professional life that you want to be living three years from now,then you can ask yourself how many information products and programs youdlike to have working for you in the next three years as building blocks of thefuture you want. Thats on page two of your planner.

Youve heard me say before that we here at Mission Publishing track at least 81different information products and programs that experts are using successfully inthe world today. In this session, Im going to be starting by reviewing with youabout 55 of the most widely used and time-tested information products andprograms. Im going to describe each of these products and programs.

First of all, there are books. You can self-publish a book. You can go after atraditional publisher to do it for you. You can hire a book packaging firm to createone for you, or you can self-publish initially, and then flip it to a traditionalpublisher after your book has initial success.


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You can turn your book content easily and quickly into an e-book, and market iteither before or after you publish your regular book. Its easy to do this. There arealso audio books. You or someone else can read your book and turn it into anaudio product your target market can benefit from when theyre driving or doingchores or whatever.

There are booklets and mini-books. Here, you bundle a small percentage of yourcontent into a miniature book that companies and organizations purchase fromyou in quantity, and use as high perceived value premiums to help sell theiroffers. There are workbooks. These are often created as stand alone products thatserve as training tools. A lot of times, you can easily turn your internal forms anddocuments into a high perceived value workbook.

There are reference books. Here you compile public facts or other existingresources into a helpful product that a target market finds valuable. There aresingle audio cassettes or CDs. These are used either as products you sell or as

marketing tools or both. There are audio learning programs. These are more thanone CD, usually packaged in a clamshell, which has a vinyl audio album on it.

There are downloadable digital audio and document products. These are digitallyrecorded and delivered as one media, which you listen to, and the other, whichyou read. These are easy to do, useful to your target market, and very highmargin. There are subscription audio series. This are where people subscribe for afee and you deliver audios as a CD or as a WAV file, maybe with transcripts orprinted material that you deliver typically on a monthly basis.

Another product you can offer is video training. This is an easy way to take thesame content as an audio product and deliver it at a higher price, because videotraining typically sells at a higher price than an audio product. There are multi-media programs. This is where you bundle your audio product with a transcript orprinted material, and maybe a video version of the audio program, all bundledinto one program.

There are CD-Rom and DVD trainings. Because CD-Rom and DVDs are moresophisticated technologies, they provide features and benefits of training tools thattypical audio and video cannot provide. Home study programs are multi-mediaprograms that are developed as a complete system in a box. Since they aremarketed as a system, they sell for more than multi-media programs.

Another product to consider is a professional education program. This is whereyou provide your expertise in adult education programs or industry groups toprofessionals or others who purchase them to earn continuing education credits,also known as CEUs. There are web-centered distance education programs. Thisis where you create longer-term courses and deliver them online, sometimessupplemented by periodic in-person sessions.


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You may consider doing keynote speaking engagements. Here you would deliveryour expertise, motivation or inspiration to hundreds or thousands from theplatform. There are breakout sessions, where you deliver content and attract newclients at industry events. There are also speakers bureau programs, in which youcreate your own in-house speakers bureau, often through your own speaking

initially. Then, you can earn an additional stream of income by allowing others touse your resources and benefits.

There are public seminars. This is where you speak at seminars organized bypublic seminar organizers and then up-sell attendees into your higher pricedprograms. There are teleseminars, which are seminars conducted with groups ontelephone bridge lines. Although these will evolve into webinars over time,teleseminars will remain their own distinct information product for many years.

There are webinars. These are seminars conducted with groups via the internetproviding a synergy of the visual, audio and email communications. Currently,

these are popular with select niches, such as high-end corporate markets.Although Im focusing this list on the most time-tested media available, I includewebinars because they are an example of the new media communication that willcontinue to emerge year after year.

Another product is the corporate training program. This is where your material islicensed by others for use on a company-wide basis. There is the Train the Trainerprogram. This is teaching others to present your material and use your products. Itcould be for the aforementioned corporate training programs, or for somethingelse.

There are boot camps. These are usually intensive, weekend or week-longtrainings delivered by you and your team of experts. There are also tele-bootcamps. This is the same content as in boot camps, but delivered by telephonebridge lines over several sessions. Another product is the cruise ship seminar. Inthis product, you deliver your content bundled with vacation-like experiences foryour attendees. These are popular with everything from personal growth to high-end investor market niches.

You may consider offering coaching programs. These are multi-session programsdelivered by you or others under your tutelage. Likewise, there are mentoring andapprenticeship programs. These offer a combination of one-to-one and grouptraining to people who become your protges.

There are business building and practice building systems. This is where youbundle together the business growth tactic tools and processes youve developedor others have developed for a specific niche of businesses or professionalpractices. You do a complete system they buy or license from you.


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Another product is the long-term consulting contract. This is where you take yourconsulting and package it into bigger offers to meet a long-term goal for a largecorporation. Its a very high-priced information program you develop for a targetmarket such as a corporation, a non-profit organization, or government agencies.For example, one of my colleagues helped self-esteem expert Jack Canfield turn

his consulting into one of these programs that she said sold for $700,000 percompany.

There is also subscription consulting. This is where you provide consultingpackages as a bigger offer, and deliver it, say, on a weekly or monthly basis for amonthly or annual fee. There is licensing, where you grant the right for yourcontent, services or products to be used by others under your name or their name,while maintaining legal ownership and a high degree of control over your content.

You may consider facilitation and certification programs. In contrast to licensingprograms and the high degree of control they give over your content, facilitation

and certification programs are less rigorous strategies you can use to sell yourprocess or system to many other practitioners.

There are weekend retreats, which were originally used a lot by self-help orpersonal growth experts. They are designed to deliver their content and create atransformational experience for the attendees during the weekend. Nowadays,high-paying niches, like C-level executives, use them under sometimes different,more sophisticated names, but theyre basically weekend retreats.

There are newsletters, where you develop your content and deliver it in printedform for a fee. There are ezines and e-newsletters. These are digital versions of anewsletter, basically, delivered weekly, semi-weekly or monthly, often for free,but sometimes for a fee. There are special reports or white papers. This is whereyou take your content on a specialized business topic and deliver it in a highperceived-value format for a high price.

There are syndicated columns. This is where your content is delivered by asyndicator, as an on-going series of articles and periodicals that reach your targetmarket, and you get paid for it. There are television and radio shows. Obviously,these can be in many forms. They can be short segments, specialized individualshows, or syndicated series.

For example, the Chicken Soup book series has been turned into its ownmarvelous syndicated TV series thats running on the Wisdom Channel. I hopeyoull pick it up sometime; its really pretty interesting. As cable, Internet andother technologies continue to increase the number of radio and televisionchannels, the opportunities to have your own radio and TV show continue toincrease.


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Then, there are private label newspapers, magazines and newsletters. These canbe done in one of two ways. The first way is for you to act as the publisher, createa magazine or newsletter that others get the right to private label and market. Thesecond way is where you license the right to private label a magazine, newspaperor newsletter someone else publishes for your use.

There is also ghost writing and co-authoring. This is where you write for othersfor a deal that includes either you getting cover credit or the client getting covercredit. There are many variations of this. There are pre-sold book programs. Hereyou make it easy for individuals or corporations to get their own book by writingor printing one for them using a system where they pay you in advance of thewhole project.

There are branded retail products. This is where you license your name or logo foruse on all sorts of hard and soft goods produced for consumers. Again, theChicken Soup folks are a great example of folks who are using this tactic. There is

selling your intellectual property rights. This is where you sell the rights to, sayyour book, to another party for a specific use. This includes foreign, serial,broadcast, syndication and derivative rights.

For example, common uses could include selling the rights to publish your bookto a publisher on another continent, or selling the rights to publish your book as anaudio book to an audio book publisher. Then, there is the other side of the table,which is acquiring rights. Here youre on the other side, and youre buying therights to use and profit from other peoples content and products.

Then, there are media expert contracts. Here, you provide your expertise to mediaorganizations who broadcast its content in return for short-term and long-termfees to you. There are spokesperson contracts. Here you provide your expertise tocompanies who use it to promote and sell their products and services and pay youshort-term and long-term fees in return.

There is software. This is where you turn your own expertise, forms andprocesses, or others forms and processes, into off the shelf applications thathundreds, thousands or millions in a target market can use and benefit from. Then,there are trade shows and conventions. Here you rent space, typically for aweekend or maybe a week, and you hold an event for a lucrative industry orprofession. You make money from selling booth space and workshops.

Then, there are trade associations. This is where you target a lucrative niche orprofession, especially a growing or hot, emerging one. You can bundle togethersuch things as a newsletter, online forum, seminars and conferences into a tradeassociation. This is something that you can sell as a subscription membershipprogram to people in that niche in exchange for short-term and long-term incomestreams to you.


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There are membership websites. This is where you target a lucrative niche ofpeople with a common interest theyre passionate about and very committed to.You can sell a subscription membership program to them that provides exclusiveaccess to a website where they can get high perceived value information abouttheir passion.

Then, there are finder and agent programs. This is where you introduce others orrepresent others, and earn a percentage or a stream of income in return. There arecustom products for fundraisers. This is where you bundle your content intoinformation products that non-profits use to raise funds. Every donation of, say$150 gets, for example your audio learning program as a free bonus.

In return, you get a fixed price for every program distributed to the donors, aswell as a ton of great publicity and names on the list, if you do it right. A greatexample of this is the financial guru Suze Orman. She used this one particulartactic to catapult herself to become an internationally know celebrity.

There are philanthropic trusts and foundations. These are more sophisticatedstrategies to fund getting your cause out to the world, and there are a number ofvariations where you can use non-profit trusts and corporations as well asfoundations to do that.

Now, you have an overview of 55 of the more basic information publishingoptions. To decide which information products and programs you want to developin order to leverage your expertise, step one includes a couple of other tasks. Forinstance, its usually a great idea to decide in advance which of the three or fourincome streams you want to develop. The reason this is an important initial step isdifferent information products produce income in different ways.

3:11 Four Ways to Create an Income Stream CD Track 7

Id like to discuss with you four different kinds of income streams that you wantto develop. Often, we talk about the concept of multiple streams of income. Whatmost people dont realize is that different information products and programstrategies create different kinds of streams of income. There are different ways tounderstand this, but initially, I like to teach my clients to think about them in fouror five different categories. Why dont we take a couple of minutes and look atthem that way?

3:12 Immediate Income, Bring in Cash Now

The first type of income stream that some information products and programscreate is what I call immediate income. This is where you create your informationproduct, market it and bring in a sizeable amount of cash quickly. Let me giveyou a couple of examples of this.


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First of all, a book thats developed and used right so it attracts clients is a greatexample of immediate income. For instance, in my last publishing and marketingmentoring program, members reported earning as much as $92,000 in extraincome within only 30 days after their books were printed. Thats immediateincome.

How do they do it? First, they develop books that included the dozen or soelements that are usually necessary to turn a book into a client magnet. Of course,Ill be teaching you those also in this program. Second, they practice the tacticsoutlined in series three of your complete home study course. Its aptly named 27Simple Ways to Use Your Book to Attract More and Better Clients. Its availablein the Publishing and Marketing Tools and Resources section of the Members-Only Web site. These tactics focus on using your book to attract more and betterclients, and thats where the immediate money is initially for many of you.

Its common for many independent professionals to earn from $5,000 to $50,000

during their first year with a new client. Many of you earn much more than that. Ifyour book helps you attract clients every year that you otherwise wouldnt havehad, it could add up to a sizeable amount of extra cash.

In addition, because of its high perceived value and cachet, a book is a superbfront-end marketing piece to promote and accelerate the income received fromany of the rest of the 55 information products and programs Ive just gone throughwith you.

Speaking and selling your information products at the back of the room is also anexcellent and classic example of immediate income. I know many speakers whomay get paid their speakers fee, or may even do the talk for free, but their focusis on motivating attendees to buy information products at the back of the room,and theyre good at it. They may bring home $50,000 to $100,000 in revenuefrom a single talk.

Another example of this is any type of prepaid information program. For example,many business building programs are prepaid, because you want the participantsto put their cash on the line in advance so theyre fully motivated to participateand get the maximum value out of it. Also, specialty publishers often work thisway.

I have an associate who publishes books for everything from network marketingcompanies to niche groups of professionals such as groups of chiropractors. Shesells the book project, they write her a check for the whole thing in advance, andthen she has other people create the whole book. A ghostwriter writes it and herdesigner and printer produce it. There can be great profit in this because its avaluable service.


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The advantage of this first stream of income, immediate income, is obviously thatyou have a lot of immediate cash, and thats great. The disadvantage of it, though,is that its typically a one-time result. There is no long-term stream of incomefrom it. One way you can handle that disadvantage is to turn your expertise intoother types of information products and programs to fit some of the other

categories Im about to discuss with you. You dont put all your eggs in onebasket this way.

3:13 Residual Income, Work Now and Earn More Later CD Track 8

The second type of income stream is often called residual income. Residualincome basically means you do the work one time, and the income comes inrelatively automatically for a long time after that. For instance, a great way tocreate residual income streams is with continuity offers. Continuity offers arewhere you sell the offer one time and your client or customer pays you monthlyfor it, month after month.

Continuity programs have gained popularity because theyre a high perceivedvalue, but a low perceived cost. People pay a relatively small fee, which ispainless to them since the payments are done automatically by a credit card. Oncethey get started, its painless for them to continue month after month. And its sortof an annuity for you.

In terms of information products, a great residual income example of a continuityoffer would include subscription audio series. We discussed those just a couple ofminutes ago. People subscribe for anywhere from $29 a month to $197 a month,depending on your target market, and you deliver audio, say in a WAV file with adownloadable transcript, or maybe a CD you send them every month.

Another example on the higher end would be subscription consulting. Here youprovide consulting to a niche, and they subscribe and pay you on a monthly basis.For example, I know a woman who provides subscription marketing consulting tooral surgeons. Shes developed a series of advertisements and other marketingmaterials designed as a year by year program and sells it for about $2000 a monthfor as long as they subscribe.

Another example of this would be ongoing coaching programs. The advantage ofthese programs is that you sell them once, and the money comes in to you monthafter month. The disadvantage of these programs is that you have to focus on theretention rate, or in other words, how many months people will stay with youbefore they cancel. The way you handle this disadvantage is to use various tactics.

For instance, one tactic is to structure your subscription offer so its not an annualoffer, but is ongoing. It used to be that folks would sell their subscription audioseries or subscription consulting as a one year program. Nowadays, its month to


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month, and as long as its a good program, people tend to stay in much longerthan a year. There are other things you can do, too.

Besides continuity offers, there are also information products and programs thatcreate bigger ticket and usually longer-term streams of residual income. The keys

to most of these bigger ticket streams of residual income is that they are based onturning your expertise into a definite system that has high perceived value to yourpotential customer. The other key to these bigger ticket streams of residualincome often is targeting a more lucrative target market niche.

Examples of these bigger ticket residual streams would be licensing deals.Licensing, as you may know, is a contractual method where you transfer therights to use your intellectual property to a third party without transferringownership to them. It allows you to maintain a lot of control, as I said before.There are also spokesperson contracts. These are another of the bigger ticketstreams of residual income.

Once youre a recognized expert in your field, your name might be worth enoughthat companies will pay you to endorse their product and return a long-termstream of income. For instance, I heard that the relationship expert John Grayrecently became a spokesperson for a network marketing company that I thinkoffers innovative nutritional supplements.

Then, there are corporate consulting contracts. These can be very big, long-termincome streams. Recently, I heard of a deal that a well-known expert inpsychology did with a large corporation, and that deal apparently locked in morethan $500,000 a year to that expert for a series of years. Hes going to beproviding some personal service, but apparently most of it is providing hisproprietary assessment and training tools bundled into an information program.So, its residual income.

An advantage of this third type of income is that it creates streams of big moneyto you. The disadvantage is that these streams of income have longer lead times todevelop.

3:14 Earn Money From Other Peoples Efforts CD Track 9

A third type of income stream that some information products and programs cancreate is what I call OPE, or other peoples efforts. This is income made byother people for you. Publishing deals would be an example of this. Here you signwith a publisher, they publish your works, and you get a royalty. Affiliateprograms are another good example. Distribution deals are another example. Jointventure deals are a great example of this.

An advantage of this type of income stream is that other people do the work foryou. The disadvantage is that you dont have the control over the other people that


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you do over yourself. So, the antidote to this is to learn how to qualify the peoplebefore you ink a deal with them. Also, maintain good communications and goodrelationships all throughout the process.

3:15 Profiting from Selling All or Part of Your Business CD Track 10

The fourth and last type of income stream that Im going to be discussing withyou in this session comes from creating and selling your business itself, or fromselling parts of your business. You should think about how to take yourprofessional service business and systematize it.

In other words, systematize it so it becomes a system made up of your systems.Not only does this spin off increasingly predictable streams of income to you,year by year, but it does so in such a way that it gives you the free time you want,too. It is also saleable in the end.

Mergers and acquisitions of small businesses are very hot activity. You could doit with a professional service business if you do it right. A big key here is to usethe same process that Ive already begun to teach you. Find out what a relatedtarget market of business purchasers want and have a history of buying, and thenbuild your business to fulfill that, and itll be saleable.

Law firms, accounting firms, consulting firms and publishing companies arepurchased regularly. You have to systematize your business so it can run withoutyou in particular. This is something I definitely recommend you consider doingand starting right now.

For instance, an associate of mine is working with an independent professionalwho is a tax preparer. He is an accountant, not a CPA, but a good, solid taxpreparer. His little tax preparation business has a few employees, and its justbeen approached by H & R Block for acquisition. The numbers theyre talkingabout are significant.

Another key here is to understand the value of systematizing every important partof your business. Any business system that makes money for your business, orsaves money for your business without you personally having to be involved is anasset of your business.

Its valuable in at least two ways. That system can make or save your businessmoney without you personally being involved, then you can delegate it tosomeone else. That means your business can profitably grow through otherpeople.

What does that mean? That means free time for you. My friends, this is the bigsecret to growing a business while creating more free time for yourself. In


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addition, any system that makes or saves your business money without youhaving to be personally involved is saleable to someone else.

That can include everything from your newsletter to your whole business. Othersare willing to buy it or pay you money for it, because that system has proven to

make money or save money without you personally having to be involved. So, itis an asset.

Once youve decided which of the four types of income streams you need andwant to develop, you may want to create some financial projections based on yourdecisions. In the planner Im giving you, you dont have to get really complexwith it right now.

Im suggesting that in each of these four areas, you find the types of incomestreams you want, and you quantify to the best of your ability the amounts ofincome you want. Later, when you start really implementing all of this, I strongly

suggest that you get Microsoft Excel and learn it, or hire a bookkeeper or CPA todo real financial projections.

3:16 Problems You Can Solve That People Want to Pay CD Track 11

Then, theres one more basic component that I suggest you do at this point. It is toidentify problems that you can solve and aspirations you can help others attainthat others have been willing to pay you for over the years. Thats on page threeof your planner.

How to do that is outlined in Teleconference #6 and #8. The link to thesetranscripts is in the Table of Contents for this program at the end of thedescription for this teleseminar. Its a crucial component of this first step. Thatswhy I urge all of you that wanted a quick start to begin doing it. If you haventdone it yet, now is the time to start, because its necessary to complete it beforeyou can begin step two, which Ill cover in the next session.

In summary, during this session, we discussed the essentials of step one to authorbooks and information products that can attract a life-long stream of clients andincome for you. I suggest that you use our system planner and begin at least adraft of each of the items on it. I strongly recommend you devote ample time tothe questions about the life you want within three and ten years, until you reallyhave identified the life you want.

Of course, this probably will evolve and change over time, but I want to help youdevelop a book or information product that will help you create the clients,income and future that you want. I cant do that unless and until you define yourvision, the ultimate outcomes that you want.


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Tessa: On the four types of income, are there percentages that people typically follow inthe first three years? For example, 80% could be immediate, and 10% could beresidual. Is there a common pattern?

John: Thats a great question, Tessa. The answer to that is it depends on your financial

situation. Let me see if I can remember an example from my own mind. Whichwould you rather have $50,000 in cash quickly, or $100 a day for five years?What would you say?

Tessa: Right now, Id say $50,000 in the hand.

John: Okay, thats because you would rather have a nice hit of immediate income rightnow. There are other people who have all the immediate income they need rightnow, and they dont feel like taking in a whole bunch more immediate income,because that just means more taxes that they have to pay. They might go for theother answer, $100 a day for five years. Well, that turns out to be $182,500, which

is almost four times as much.

The key with immediate income, in terms of your own financial planning, is to getas much immediate income as you need to create the lifestyle that you want. Then,take the additional time and begin investing it into strategies that will give you aresidual income, and in systematizing your business, so you can begin to sellbusiness systems, or parts or all of your business.

Its very much an individual endeavor. What a lot of people do is theyll allocatetheir time, and theyll say Im going to take a certain percentage of my week andIm going to work on developing a killer book thats a real client magnet, so thebook can help me attract more and better clients.

Ill devote so much of my time to that, because I know if I get an extra five or tenclients a year from that, thatll give me all the immediate income I need. Beyondthat, Im going to take a percentage of my time and invest it in some type of aninformation product or program that I will then use to sell as part of the backmatter of the book.

That way, you are developing a couple of different kinds of income streams in theway that makes most sense for your own financial planning. Does that answeryour question?

Tessa: Yes, that was a fantastic answer. Thank you very much.

John: Youre welcome. Who else has a question?

Yolanda: Ive got a question. Youve gone through this whole step-by-step process forpublishing a book. Would you recommend, in a course like this, that you focus on


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one idea and develop that idea, or would you split your time between variousideas that you have?

John: Thats a great question, Yolanda. Thank you for asking that. For most of us, itsimportant to focus in on one good project at a time, because most of us are quite

busy. It really does depend on your situation. If you have the flexibility, and youhave the discipline to do a couple of projects at once, you can.

One of the things I taught in that last teleseminar was what I called the deductiveand inductive approach to developing your book or information products. Many ofthe people in the program are going to be using the deductive approach, whereyou develop your book first, so you focus on that one project.

What Im doing is developing in you the vision and strategy. Thats what thiswhole session was about, so that you really understand how you can develop thatone book, and develop it in such a way that it will fulfill the types of income

streams and lifestyle that you want three to ten years from now. Thats a greatway of developing one project, but you know out of that, many more things aregoing to come. Does that answer your question, Yolanda?

Yolanda: Okay, that just leads to one other question. The idea that I have has so many legs,and is such a huge project, that to actually focus on the whole project will createthis fear of not starting the project. Would you take one aspect of it, and developthat, or would you work on the entire project?

In the last two days, Ive come up with an idea for a project that can actually filterdown into 90% of the information products that youve illustrated. Given thesheer scope of the project itself, it would take a year to get to the stage of actuallypublishing a book. Would you recommend that I take it one step at a time, orwould you put the entire project together and then start developing it into thevarious information products?

John: That depends upon you and your situation. Have you ever done big, complex,comprehensive projects like the one you just mentioned?

Yolanda: Yes.

John: Is it something that youd like to do again?

Yolanda: Definitely, because the market is so huge that you could have seminars, books,newsletters, the website, the entire lot, which actually ties into that one idea. Tellyou what, Ill put it in an email and you can think about the answer.

John: Great. Ill take one more question.


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Barbara: The list of 55 products is wonderful. The problem is I can circle about a third ofthem, and I think that might be too many. The question has to do with focus. Doyou recommend focusing on just a few of these, rather than a whole bunch ofthem because a whole bunch is probably too much? Is there an ideal number?

John: An ideal number is to start with the one that is most pragmatic. One of the things Ido is use something I call the Low-Hanging Fruit Strategy. I take a look at my bigvision and my big strategy. Then, I take a look and say What is the most fruitful,lowest risk step I can take right now towards that big vision that I have? What isthe most fruitful, low risk way to do that that is aligned with the whole bigvision? I do that first.

Year after year, you can achieve a whole big vision by taking one low-hangingfruit opportunity after another. That way, you keep yourself in the money, in low-risk, and you move ahead very pragmatically, one step at a time. Is that helpful,what I just said to you?

Barbara: Yes, thats useful, because I can still select two-thirds of these, but only focus onone then.

John: The other thing is that I prepared this step for you. Those of you who were not onthe very beginning of the call, if you missed the first five or ten minutes, youreally should listen to the recording of it, because youve missed the whole pointof this. Even though the stuff at the end was great, theres a big secret I told at thebeginning, and you really deserve to get that, because its the big secret of thiswhole program that youre in with me.

Anyway, Barbara, I hope that helps you. I meant to strike a big vision. There areactually more than these 55 information products and programs. I just felt that itwould be a little overwhelming to go beyond this, so I picked 55 of the most time-tested products and programs. The thing is, you should really think about these.You shouldnt make any rash decisions on too many of them.

Most of you folks want to get started and do a book in this program, and thats afabulous way to start for most of you for all the reasons weve talked about. Letthe rest of it sort of gel. In the back matter of your book, you can begin to developyour back matter so it really begins to promote one or two of the other 55 that youmay want to develop.

Test the water and get started with them. Things will change over time. Really, Ithink thats the best and lowest risk way to approach all of the possibilities here. Isthat helpful, Barbara?

This was the third teleseminar in The Leading Mentors Publishing and MarketingProgram. Thank you all for attending.

03 leading mentors - book creation

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