He decided he needed an office, so he leased a space and then purchased furniture with his credit card. He went thousands of dollars into debt.
His business never got off the ground, and he was forced to close his doors. This is the wrong way to start a business.
As a writer who is just starting out on your booklet adventure, your goal is to make money not spend it. There will be expenses, of course, as there are in any business. But, you want to minimize them as much as you can. The less you spend, the more you have in your pocket.
And, when you don’t have much money to begin with, it doesn’t make sense to spend a lot in your start-up phase.
Here’s how you can start your booklet adventure on the cheap:
1) Don’t buy unnecessary items such as office space, furniture, fancy software programs, office equipment, etc. Ask yourself if you really need something before you make the purchase. If you do really need it, maybe there’s a less expensive way you can acquire it such as purchasing online, from a discount store, or buying used.
An example of this is my desk. For the first few years I was in business, I used a small table for my computer. Later, when I was making more money, I wanted a desk. But, I still didn’t like the idea of paying a thousand dollars or more and I didn’t want to buy something made of press board either. I ended up with a beautiful wood desk that I got for a third of it’s original price from a furniture warehouse.
You can do the same thing. Check Craigslist and Ebay for deals, or check your local discount stores and outlets.
2) Don’t spend money on ads and marketing just to get your name out to your audience. This is what corporate marketing is all about and it’s death to the entrepreneur’s business because it’s costly and ineffective. Large corporations are all about building a brand and making their audience aware of it.
You, on the other hand, need to be all about sales. Your brand awareness should come as a result of the sales you make, rather than the other way around. It’s much better for you to use free forms of marketing and advertising – such as social media, blogs and forums – for getting your products in front of your audience. You can move on to paid advertising (though still not the way corporations use it) when you have the funds for it.
3) Shop around for the services you need. If you’re hiring a graphic artist or printer, for example, don’t go with the first one you find. Do your homework. Chances are you’ll find someone just as good, and maybe even better, for less!
4) Keep your inventory at a bare minimum. If you’re printing booklets, don’t print thousands of copies. Just print a few at a time.
Better yet, pre-sell those booklets before you have them printed!
And remember, when you’re selling digital copies you don’t have any printing costs at all! If you need selling platform, I’ve found Zaxaa to be super easy to use. I talked about it in my last post, which you can find here.
These are the things that new booklet authors are most likely to spend their money on in the beginning. Don’t make that mistake! It’s not necessary to spend a lot of money to write a booklet and get it sold.
To your riches!
PS: I welcome your comments as always!
Check out my free ecourse “12 Ways A Booklet Can Turn Your Writing Into Cash” here now!
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