I’d like to begin this post with my heartfelt thanks to all of you who have subscribed to and read this blog regularly. The membership here is growing steadily and that’s exciting because it means that more of you are discovering just how lucrative and wide open the field of booklet publishing is. However, It’s also very humbling. I hope my posts will continue to inspire you! Now, on to the post for today…..
Are you concerned about how much to charge for your booklets? Many small business owners and independent publishers actually under-charge for their products because they fear charging too much. They’re afraid nobody will buy from them, especially now with the economy in such a mess. But, you must charge something for your booklets, and preferably as much as you can get away with. Here’s why…..
Your Reward Is Up To You
You’ve worked hard (ok, maybe not, but don’t tell your customers!) to create and produce your booklet. You researched your topic (and if you didn’t need to because you had all the knowledge in your head already – for heaven’s sake don’t tell anyone!!!), and you spent some of your own money to see your brain child come into being (even though it was a mere pittance as compared to full length book publishing – you’d better keep that a secret too!).
The fact is, you’ve accomplished something that most people never will, and you deserve to be rewarded. But, it’s up to you to decide how much that reward will be. You’ve done a good job, and if you worked for someone else your reward would be a paycheck. But, as a booklet author and business owner, you don’t have anyone handing you a paycheck. It’s up to you to determine the amount of pay you deserve.
You Deserve To Be Reimbursed For Your Expenses
Producing booklets isn’t free. There are costs associated with both printed booklets and e-booklets, and although those costs are quite reasonable you still have pay them.
You can’t afford to operate your business at a loss – paying more to produce your booklets than you actually bring in. You also can’t afford to just break even. Otherwise, what’s the point of having a business? If you break even you’ve got a nice hobby you enjoy, but not a business.
You deserve to be reimbursed for your costs, just as you deserve to be reimbursed for your time in putting your manuscript together. And, that doesn’t mean that you are reimbursed one dollar for every dollar you spend. You have to take into account things which don’t show up on your receipts – such as travel time and gas.
The Public’s Perspective
The vast majority of the public are completely clueless when it comes to how much things should cost. Have you ever watched that old tv show called The Price Is Right? Most of the contestants didn’t even come close to guessing the actual price of the products displayed on that show.
Most people believe that a higher price reflects a better quality product. Often people will buy a product based on a more expensive price because they think that product is better than another, lower priced one.
One example of this is a well known brand of tennis shoe that sells for more than $100.00, vs. a store brand that sells for $30.00. In light of today’s economy you would think the majority of people would go for the cheaper shoe. Not so. They go for the more expensive shoe because they believe it is superior to the cheaper one.
This means that if you’re afraid to charge a little more for your booklet because you think people won’t buy from you, that thinking can actually work against you. People tend to buy based on their own perceptions rather than actual facts.
Give Your Best And Reap The Riches
You can’t be a rich booklet author if your prices are too cheap. You don’t want to present a cheap product. You want to present a product that is a good value for the money you’re charging. This means that when you charge a higher price, your market would have been willing to pay still more to acquire your booklet. It means you’ve given your best, and you deserve the best in return.
To your riches!
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