Ep161: Will Writing A Business Book Make You Rich?

Ep161: Will Writing A Business Book Make You Rich?

Vicky and Joe answer every budding author’s burning question: if I write a book, will I be in line for a £34 million J K Rowling payday? Answer: probably not. But that doesn’t mean your book won’t pay you handsomely. Just not in the way you might think. Join the Podsters as they wax lyrical on cooking with phalanges, sock-based tea, and the secret joys of writing a book. Plus a FREE bonus Dingle update.

Key Takeaways:

[1:00] Vicky and Joe are still drinking old socks (tea).

[1:55] Vicky and Joe have a Dingle update for you!

[5:20] You should not be writing a book for the money.

[6:20] So, why should business owners consider writing a book?

[10:40] It’s not easy to write a body of work, but you gain authority and become an expert by doing it.

[11:00] Vicky doesn’t think most people can knock out anything that’s worth reading in a weekend. These things take time!

[13:30] Vicky has people writing in to tell her that her book (which she spent a lot of time working on) has changed their life.

[14:25] Books open doors for you.

[16:10] Your potential buyers or customers will have a better understanding of how you work.

[22:45] Vicky’s book will be out soon! End of March timeframe!

[23:00] Questions? Reach out!

Mentioned in This Episode:

Vicky Fraser

Vicky’s Podcast

Vicky’s Blog

Join the Superheroes

Vicky’s Business For Superheroes Book

The Inner Circle

Borrow My Brain

Vicky’s Book Club

Vicky’s new book! Write & Publish Your Book in 90 Days

Email Vicky

Subscribe on iTunes, Stitcher, and Overcast

Project Dingle

– [Announcer] In an industry stuffed with marketing bullshit, empty promises, and shiny suited liars, one woman's had enough. She knows what it's like
to have the wrong clients, no money, and no time for fun. But she also knows how to fix it. And on the Business for Superheroes show, she promises to tell
the down and dirty truth about business, sales, and running away with the circus. Here's your host, Vicky Fraser. – [Vicky] Hello and welcome to the Business for Superheros show. I'm Vicky Fraser, this is Whiskey Fraser,
and this is my husband Joe. – [Joe] Hello. – [Vicki] Hello. Today's podcast is brought to you from the Dingle powered by herbal tea. What are you drinking Joe? – [Joe] I've got old socks and red bush, and you have old socks and ginger and honey, I think? – [Vicky] Ginger, lemon, and manuka honey. – [Joe] Right that's it, yes. – [Vicky] No socks. – [Joe] Socks, mostly socks. – [Vicky] It's very tasty and you wouldn't be drinking it if it wasn't tasty. – [Joe] Yeah. – [Vicky] It's vanilla
rooibos you've got, isn't it? – [Joe] Yes. – [Vicky] Okay. Anyway, we're still doing
the alcohol experiment. – [Joe] We are? – [Vicky] I'm not even feeling like I want to have a drink to be honest. I'm really enjoying the non-fuzz. – [Joe] Yeah, I think you must
have had more fuzz than me, because I'm feeling a bit
neutral about the whole thing. – [Vicky] And you've got your
arms crossed defensively. Listeners if you could see him, he's got his arms crossed defensively – [Joe] I'm super defensive. – [Vicky] He is. Shall we do a quick Dingle update? – [Joe] Dingle update. We should talk about the xylophone to have a little three tone introduction to the Dingle Update. – [Vicky] Ding ding ding ding ding. – [Joe] Something like that. – [Vicky] I'll get my guitar next time. – [Joe] Oh Jesus. – [Vicky] Dingle update. So we have lighting up
in the attic bedroom, which is super exciting. – [Joe] We're just waiting
on some flippin' shades. – [Vicky] Waiting on some shades. – [Joe] And we can sort out
the length of the dangle. – [Vicky] Length of the dangle, because the sky-hooks arrived today. – [Joe] Put some sky hooks up. – [Vicky] We were sitting
up there yesterday thinking gosh, isn't it lovely up here. It's gonna be such a lovely bedroom and it feels like we're about
to take a massive milestone. – [Joe] I posted a ficture up there – [Vicky] A ficture. – [Joe] A ficture on pacebook, of the nearly completed room and I got more likes for it
than anything I've posted in about five years. – [Vicky] Nice. – [Joe] So it must be
alright, must be close. – [Vicky] Lots of little dopamine hits. – [Joe] Yeah. – [Vicky] This week we are talking about how writing a book may
or may not make you rich. Because it's a question
I get asked sometimes. You know, why should I write a book? Will it make me rich? And I thought I would talk about it because I read an article recently about J.K. Rowling's most
recent royalty check. Guess how much it was for? – [Joe] 10 million dollars. – [Vicky] 34 million pounds. – [Joe] That's a chunk of cash, isn't it? – [Vicky] That's a chunk of cash. And her earnings last year were
around 72.3 million pounds. I can't even get my head around that amount of money, can you? – [Joe] That would be
awesome, wouldn't it? – [Vicky] I don't know, it would just be bizarre. – [Joe] I mean, we'd
get the Dingle finished pretty quickly, wouldn't we. – [Vicky] Yes we would, yeah. Yeah, we would. – [Joe] There'd be a lot less maybe we should do this,
maybe we should do that. We'd be like right, let's
get in here and do it. – [Vicky] It's like, oh we'll have to wait til next payday to do this thing. Uh, no, we'll just do it. I would still want to do
a lot of it myself though. I really love the fact that I can now wire up light fittings and sockets, and in fact put in a whole ring main. – [Joe] Not legally. – [Vicky] Am I just getting
myself into trouble here? – [Joe] It's all gonna
be certified, folks, it's all gonna be certified. – [Vicky] Well that's the
thing, it is gonna be certified. There is nothing in the law that says you can't do
your electric yourself. – [Joe] No. – [Vicky] We're doing at
least as good a job as, I would say. – [Joe] I think we're doing a tidier job than a sparky would do. We care more than a sparky would. – [Vicky] Of course we do, it's our house. J.K. Rowling's recent royalty check, 34 million pounds. So, Joe, is that why business
owners should write a book? – [Joe] If you've got a series of best-selling novels in you, that is gonna net you 100 million pounds in the next couple of years then I would suggest that you should probably stop what you're doing and write your books. – [Vicky] But you can't
guarantee that, can you? – [Joe] You can't guarantee that. – [Vicky] And J.K. Rowling
went to every publisher in the land before one of them finally said yeah, let's give that wizard thing a try. All the other publishers
that turned her down now must be like, man we screwed that up. Because if J.K. Rowling
is earning 70 million quid then the publishers, I can't even, I think royalties are 10%, 15%, 20% she's probably got a better
deal than most people. – [Joe] After the first couple of books I would have thought so. – [Vicky] So if you're a business owner and you would like to write a book, and you see these headlines
every now and then and think oh gosh, 30 million
quid, that would be amazing, I hate to piss on your chips but that's not why you
should be writing a book. It really isn't. 'Cause most books, fiction or non-fiction, wither and die before anyone, other than the author's mom, has a chance to read them. Which is terribly sad, really. That's whether they're
good books or bad books. And it's sad, because the author gets really excited about their big idea, and then they write and
they write and they write, and then they release
their book into the wild, and then they tend to sit back and wait for the world
to be past their door. Sort of build it and they will come. – [Joe] And they just don't. – [Vicky] They just don't. Like anything else, just
because you build it doesn't mean anyone's gonna come. They have to know it's there first. It has to be something that people actually
want and need as well. It's entirely possible to make plenty of money from your book. Just not, perhaps, in the
way that you might think. Not in the way that J.K. Rowling has done. Not in the way that Stephen King has done. So, why do business owners, or why should business
owners write a book, Joe? Because I think all business owners should consider writing a book. Because most people won't, and so you will automatically stand out for the very fact of
having written a book. – [Joe] I think most business
owners should write a book because that would make them stand out for the very fact that
they've written a book. – [Vicky] Thanks, thanks for that. Is that all you were gonna say? – [Joe] Yeah. – [Vicky] Oh I'm sorry. – [Joe] Ask me a question, then give the answer
that I was gonna give. That's fine. – [Vicky] I can't see into your brain. I didn't know that that
was gonna be the answer. – [Joe] Okay. Another reason business owners
should write their book. Well, there's the differentiation thing. It's an amazing business card. – [Vicky] It is an amazing business card. There's a certain section of business that says that's all it is and it doesn't really matter if your book is any good or if anyone reads your book. And I take massive issue with that. I get it. If all you want is a
glorified business card, fill your boots. Go write a whatever and call it your business card and that's cool. I think that a book can be, and should be, far more than that. Books are important, if for no other reason than because trees are murdered to make them. – [Joe] That's true. – [Vicky] Sacrificed. – [Joe] I think as well, one of the things that
you do when you sit down and think about writing your book is, for starters you will do a lot of research into
who your target market is. You will do a lot of thinking
about who your customers are. You will do a lot of thinking about what they want, what they need, and what they don't need, and you will concretize
all of your thoughts. – [Vicky] Concretize? – [Joe] Concretize, your thoughts. – [Vicky] Good word. – [Joe] Thanks – [Vicky] Did you make it up? – [Joe] No. – [Vicky] Okay. – [Joe] It's a legit word. Jeez. It's like when you teach
something to somebody, you have to think about it and think about it a lot, and learn, and properly
form your thoughts. Unlike what I'm doing right now. – [Vicky] Well said. – [Joe] And that deliberate thinking about it, and forming it well goes a long way towards just improving your ability
to do your job, I think. – [Vicky] That's a really good point. That's a super good point. I'm really glad that you brought that up. – [Joe] I'm not just a pretty face. – [Vicky] You're not, you're not. You're a very, smart man. – [Joe] Thank you. – [Vicky] Thoughtful man, and that's my goldfish going round. So yeah, I mean writing your
book will improve your skills, it will improve your knowledge, it will improve your confidence, actually. It will enormously improve your confidence because of all of the things
that you've just said. You will learn more about
your target audience, and what you're doing,
and why you're doing it, and all the rest of it. The very fact that you've written a book just lifts you above most
other business owners. – [Joe] You've literally become the person who wrote the book about it. – [Vicky] Yeah it's like, oh yeah, John, he wrote the
book on cooking with phalanges, and Sue, she wrote the book on traveling with nothing but a bum bag. I don't know, I'm just thinking of really niche stuff off the top of my head. – [Joe] And cooking fingers was the first thing you came up with? Where are you gonna get the fingers from? – [Vicky] Ladyfingers? Isn't that okra? That's obviously what I was thinking of. – [Joe] That went really weird. – [Vicky] Your face is really weird. – [Joe] Gosh. – [Vicky] You could be
the person that people say she wrote the book on it. We have a saying, we
have a cliche in English, to describe somebody who
knows a lot about a subject. You can be that person. It builds your credibility
as an expert in your field. – [Joe] Yeah, for sure. – [Vicky] Because again,
you wrote the book on it. And people, you know rightly or wrongly, people still think authors
are somehow special. And we are. – [Joe] Well, what separates the authors from the people who are not authors, is that the authors have thought about it and put some concerted effort into it, and actually sat down and done it. Non-authors, if they've
even considered it, have clearly not achieved it. – [Vicky] Yeah, and
there's a lot be said for, I tell you it's not easy writing a book. – [Joe] No, it's a body of work, isn't it? – [Vicky] It's a body of work. It's not easy. It's nowhere near as hard
as most people think, but it is definitely not easy, and it definitely will
make you cry at some point, and definitely you will never want to see the dumb thing again at some point, at various points. And those who subscribe to this idea that you can knock out a book in a weekend, I don't think most people, not everybody, but I
don't think most people can knock out anything
that's worth reading in book form in a weekend. They just can't do it. I've seen courses out there, write your book in a weekend, and I look at it and I'm like that's bullshit. – [Joe] You can write
an article in a weekend. – [Vicky] Yeah. Either they are missing out
a whole chunk of pre-work that they're just not talking about, so it's your second draft or something, or your final draft and you've already done
all the other work, or they're just peddling some nonsense. – [Joe] Sit down, mash all the keys until you've got 100,000 words. – [Vicky] And you know, I could bash out a 10 to 20
thousand word book in a weekend. I absolutely could. But that would be an eBook, it wouldn't be the type of book that I'm perhaps talking about. And there's nothing wrong with that, but I'm talking about
a solid, printed book. A thing that people will keep
and refer to again and again. My first book, you know it needs updating and there's aspects of
it that I don't like, but I still get messages
from people saying your book helped me
turn my business around, I refer to it, it's my
bible, it sits on my desk. And that always makes me go, really? – [Joe] Yeah, I was
actually talking to someone a fortnight ago, she left the business I work in to start a creche, a nursery, looking after people's kids. So I'd seen her for the
first time in months, and said oh how're you getting on? And she was like oh,
you know, it was okay. The first couple of months were rough. People assume that they
don't have to pay you, or they don't need to pay you on time, or that they can pick
up and drop off the kids whenever they feel like it, or cancel and not expect to pay and all that kind of nonsense. And then I read Vicky's book, and I decided how I
want my business to be. And I did this, and I did that, and I took steps, and
then I spoke to people and I kicked a couple of people out. I was just like woo, amazing! – [Vicky] That's awesome. – [Joe] And now she's
actually running the business that she wants to run. That's pretty cool. – [Vicky] That is pretty cool – [Joe] And actually getting
paid for it, on time. – [Vicky] Yeah, which is awesome. That story is quite similar to one of my superhero's, Sayam. Hi Sayam!
– [Joe] Hi Sayam. – [Vicky] I sent her a copy
of my books a few months ago, and she has said many beautiful
things to me since then. She read my book and she
did all the stuff in it and she turned her life around. She said I've literally
had the best Christmas that I've had in years because I've not been scraping
together every last penny. Then she joined my superheros because she made enough money to do that. Her messages to me have
had me in floods of tears. That's another reason to write your book. Books change worlds, not necessarily the whole world all in one earth-shaking go. But they change people's lives. You could write a book that
changes somebody's life for the better, that helps them turn an aspect of their life that's shit into an aspect of their
life that's wonderful. That in itself makes the
whole damn thing worthwhile. And that's even before you get, onto all the rest of the stuff that sort of sits behind your book. So other reasons to write your book is, you kind of touched on this already, it establishes you as a
celebrity in your industry, puts you at the top of your tree. Because most people in your
industry will not write a book. They won't do it. Not can't, won't. It will open doors that you
never even knew were there. As soon as people find out
that you've written a book suddenly they ask you to come
and speak at their events. I'm speaking at several
of Dom's events this year. – [Joe] Hi Dom. – [Vicky] Hi Dom! I'm speaking at Theresa's
business lunch club. Hi Theresa.
– [Joe] Hi Theresa – [Vicky] I'm speaking there next Tuesday. They're taking me all the
way down to Kent, I think, I should probably find out, to go and talk there because I have a book and this is what I do. And so it will open doors that
you never know were there. You'll find that the media
wants to interview you, people call you to ask
for your opinion on stuff and ask your advice. It will help you attract
your ideal clients and repel unsuitable ones. You touched on that earlier. Because you really have
to dig into who people are and if you write your book in your voice, and put yourself and your personality and your opinions, and all the rest of it into it, then some people are gonna love you, and some people are really not, and that's okay. – [Joe] And that's worth finding out before you're their client. – [Vicky] Yes, absolutely. – [Joe] Or they're your client, whichever way around it is. They're your client. Somebody reads your book, gets a chapter and a half in, and goes oh no, this isn't quite right for us, not really. That's great! They don't waste your time. They don't waste their time. You don't get into an angsty field that you want to get
out of in three weeks time. – [Vicky] And they get to
know your rules as well. The way I write my books, that's how I work. And certainly in Business Of Superheros, part of that was this is
how I run my business. And part of the reason I did that, it's not just as an example
to other new business owners, but also because potential clients are gonna be reading that book and I want them to know that I'm not gonna be available 24/7 on the end of the phone, I'm not going to be answering emails as soon as they come in. That's not how my business
and my life works. So I don't have to explain that to them because they've read it, they know. So why else would somebody
want to write a book, Joe? – [Joe] Well, it gives
you a nice kind of place to position your business, a hook to hang it on. – [Vicky] Yeah. So instead of selling all of the products and services that you've got. – [Joe] Yeah. Because you're book's gonna
be specific, isn't it? It's not gonna be like here's everything you ever wanted to know about being a mechanic, or whatever. It's gonna be I'm a specialist gearbox
re-builder, or whatever, and here's the things you need to know if you wanna get this sort of work done. And it's gonna be all
the detail about your, your niche. You're not gonna write a book that covers the whole encyclopedia. It's gonna be something specific. You're the person who wrote that book, and that makes your business really easily marketable and targetable. And people who want you
to change their tires aren't going to come and talk to you, because you're the guy
who rebuilds gearboxes. – [Vicky] But that doesn't mean that you won't change people's tires after you've done their gearboxes. This is something else
that people worry about. We're talking about
niching here now, really, that's the same thing, really. Like you say, you're gonna write a book that's on a specialist's subject, and it's gonna be in your niche So we'll talk a bit about niching. I do have people push back at me on that, you know, am I not really narrowing down who I can work with and what I can do? And my answer is well, no you're not, not really, because you are attracting people with that very specific problem, but that doesn't mean that you then can't talk to them about all of the other
stuff you do as well. So he might be a gearbox specialist, but his garage may also look at brakes, and all the rest of it. He's not gonna send your car out with brakes that don't work
and that kind of thing. Just because you're only talking about one thing in your book, or your niche is, it's just the thing that
you hang your hat on, doesn't mean that you
can't work with people on other areas that are
related to that as well. It just means that this is the
thing that you're known for. And that's really really important. It also makes it easier, because then you don't have to
sell all of this other stuff you just have to sell your book. And your book is the doorway for clients to come into your business and work with you in
all sorts of other ways. – [Joe] It's great marketing. – [Vicky] It's great marketing, yeah. Once my new book's finished I don't have to try and get people to come on my book course, and work with me as a ghost
writer, or as a coach, because they'll read the book and they'll decide from that. They'll get onto my email list, because I've got resources
on the website for people, and the next logical step is gonna be to do one of my courses, or to become one of my coaching clients. That's the way they're gonna come in. I don't have to sell the coaching, and the ghost-writing,
and all the rest of it because the book does that for me. – [Joe] And they've
pre-qualified themselves, they know how you work. – [Vicky] Exactly. And once you've got your book as well, that's not the end of things. You can turn it into all
manner of other stuff . – [Joe] Podcasts! – [Vicky] Podcasts, yeah. This podcast came out of
the book that I wrote, my first book, and has kind of stumbled drunkenly. – [Joe] Yeah, it's wandered off somewhat. – [Vicky] The book that
I'm writing at the moment I'm already planning the newsletter that's gonna go out with it. Everybody who buys my book will become a member of my free club, and they'll get my monthly newsletter and all the rest of it. Actually I've done this
the other way around, because I made my how
to write a book course, before I wrote the book, but I'll be refining my course now, based on the book. – [Joe] The further thinking
you've done in the book. – [Vicky] Yeah. I've also got a few other
courses in mind as well. If you write your book
it's gonna be really simple for you to turn your book into a course. There really is only so much money you can charge for a book. I always say you can charge
whatever you like for anything, but books do have a ceiling. Unless you're selling
a University textbook for 50 quid or whatever stupid
money they go for these days. You can't generally charge more than 20 or 30 pounds for a book, and that's at the very top end, and eBooks, you know,
10 quid top-end, really. But you can take all of that content and turn it into a course and sell it for 200 pounds,
500 pounds, 1000 pounds. And there's nothing wrong with that, that's not cheating people. Because what you'll find is people will read your book and they'll have everything they need, and I know this will happen with my book, they'll read my book and they'll go oh your book was brilliant,
now how do I write my book? And you'll think good lord, did you not read the book? But what happens is people read books, but it's not a course. Reading is quite a passive thing. Some people will take
everything in the book and they will do it and
they will get results, and that'll be marvelous. Many people will not. They will read it and they'll think this is fantastic, I want to do this, I need more help. Which is where you put a course together and you make it more interactive,
and more active generally. Does that make sense? – [Joe] Yeah. – [Vicky] Again, you can
turn it into a video series, you can turn it into
audiobooks, and audio series, you can turn it into a
series of interviews. – [Joe] Just find somebody with a marvelously mellifluous voice and get them to read your book. – [Vicky] You should read my book. – [Joe] I'm available on commission. – [Vicky] On commission? – [Joe] Mmhmm. – [Vicky] For a large fee? – [Joe] For a very large fee. – [Vicky] And a percentage of the royalty. So yeah, the book is not
the end of your journey it's just the very beginning. – [Joe] Sure. – [Vicky] There's many
reasons to write one. I think the best reason, for me, because all of the money that you'll make and all the rest of it, the
business building stuff, is all fantastic, but for me it's the knowledge that
people will read my book and then change their
lives for the better. I just think that's so cool. And the confidence
boost that I get as well from people asking me stuff, it's like oh, you know you wrote a book on this, help, help, tell me stuff. And that's really cool. You know it's a proper ego boost, but it's also a confidence boost as well. – [Joe] Yeah. – [Vicky] So if you have been thinking about writing a book, and you're thinking oh, I don't know if I can,
I don't know if I should, it's all be said, all the rest of it, then I say nonsense, write your book. You can write a book. Everyone can write a
book, most people won't. I'm writing a book to show
you how to write a book, which is kinda meta. – [Joe] Getting quite meta. – [Vicky] But my book will be out, what date is it? My book will be out in
the next month or so. I have a date in my head
and it was end of March. It might now be pushed back a little bit because I've got some more stuff to do. – [Joe] I think you should just do it. – [Vicky] I'll see, I'll see. So, any questions? – [Joe] Not from me. – [Vicky] Any questions from you, Whiskey? No? I've got Whiskey on my knee. She's purring. – [Joe] No questions from Whiskey. – [Vicky] No questions from Whiskey. Any questions from you, listeners? If you want to know anything about why you should write a book, what you can do with your book afterwards, please write in and tell me, or ask me, because we will answer
them in the podcasts. – [Joe] Interaction for the win. – [Vicky] Interaction for the win. And remember, if you've
listened to every single episode email me, [email protected], and let me know because
I've got a gift to send you. – [Joe] Nice. – [Vicky] Yeah. So coming up next week
we are gonna talk about 10 ways to come up with a good book title. – [Joe] Oh crikey, really? – [Vicky] Which I am utterly failing to do for my book at the moment and it's driving me up the wall. – [Joe] The Book Book. – [Vicky] The Book Book. The Big Book About Books. The Big Book About Writing Books. – [Joe] Metabook. – [Vicky] Metabook. I have a couple of options actually, Write Your Way to the Top, and How the Hell Do You Write a Book. Anyway, so, we will see. – [Joe] Suggestions welcome. – [Vicky] I've got many people on it. We'll be back, same time next week, In the meantime, if you like this podcast, please go to iTunes and subscribe. It helps us climb the rankings. And please rate us. Rate and review us. – [Joe] Oh man, if you're gonna give us a two star review and then write a glowing report, could you at least – [Vicky] Don't be mean. I've hit the wrong number of stars before. – [Joe] We got a two star review. It was full of really warm
lovely words and enthusiasm. – [Vicky] It was really funny because I looked at it and was like ah somebody's given us
a two star review, what? And then I read it and I was like, oh that was lovely. And then I was like wait, what? But yeah, if you like this
podcast please go to iTunes and rate us and review us. Give us five stars please. Share us as well. If you know somebody who will enjoy this, share it with them Send them to vickyfraser.com/podcast. Or share the link on iTunes, or wherever you like really. We'll be back same time next week. – [Joe] Excellent. – [Vicky] Toodle-pit. – [Joe] Bye! – [Announcer] Like what you've just heard? Tell your colleagues, tell your friends. Send them to
www.businessforsuperheroes.com/podcast.

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