The write way to grow: entrepreneurs discover that self-published books add to the bottom line.DURING THE HIGH-TECH INDUSTRY'S GLORIOUS RIDE DOWN easy street in the 1990s, Aundrea Lacy's online brownie brownie, in Celtic folklore, household spirit associated with farmsteads. Brownies help with chores, but, if criticized, they will make mischief, such as spoiling crops. If payment other than food is offered a brownie, he vanishes from a farm forever. business coasted right along with it. A former marketing executive who worked for Hewlett-Packard, among others, she found her most loyal customers in the heart of Silicon Valley. Almost immediately after Lacy launched Luv's Brownies in 1996, her signature heart-shaped brownies became a hit among chocolate lovers in the Valley, many of them former co-workers who sometimes requested up to 600 at a time. "They were my primary target," says Lacy, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , California-based bakery (www.luvsbrownies.com). But when the dot-com bubble Refers to the late 1990s during which countless Internet companies were riding an enormous wave of enthusiasm that pushed their stock valuations into the stratosphere even though they never made a penny. burst, Lacy's small business fizzled. Layoffs and tighter budgets meant fewer calls for her desserts. Sales dropped approximately 50%. But instead of shutting the oven off in defeat, Lacy rebranded herself by authoring Luv Story: From Homemade home·made adj. 1. Made or prepared in the home: homemade pie. 2. Made by oneself. 3. Crudely or simply made. Adj. 1. Brownies to My Own Internet Bakery (self-published; $10), a telling book that shares her journey to entrepreneurship. Not only did the book revive To renew. For example, revival is the act of renewing the legal force of a contract or debt, either by acknowledging it or by giving a new promise, when the contract or debt is no longer a sufficient foundation for a lawsuit because it is barred by the running of the Statute her business, it showed that she was far more than just a brownie baker. "Writing my book saved my business," says Lacy, 38, whose products and services earned the company $595,000 in 2005. The company, which has three employees and relies on 20 contractors, is on track to match that figure in 2006. Lacy's book sales and related products accounted for approximately $395,000 of her revenues last year. "I needed to keep afloat, and I needed to keep my product out there," she says. "But I also used this book as a vehicle to encourage entrepreneurship." Luv Story's exposure created other opportunities that generated revenues for the business, including e-book sales; speaking engagements at libraries, schools, colleges, and book stores; and small-business consulting. "The book has been a cash cow Cash Cow 1. One of the four categories (quadrants) in the BCG growth-share matrix that represents the division within a company that has a large market share within a mature industry. 2. during the past three years because it [opened] so many other [doors]," says Lacy. "These were avenues that weren't open to me when I just sold brownies." Several publishers had approached Lacy about her brownie tale but weren't willing to pay more than $3,000 for her story. Figuring she could do better solo, she surfed the Internet for information about self-publishing, She then hired an editor and a designer and tapped into BooksJustBooks.com, which eventually printed 2,000 books for her at $1.25 per copy. "Not only did Luv Story open doors, it also provided additional avenues to sell and to get paid for speaking," says Lacy, who has sold nearly 30,000 printed copies since the book's release in 2003. Lacy's success mirrors that of other business owners who have discovered the power of penning a book A 300-page study conducted this year by RainToday.com, an online business resource, shows that entrepreneurs who published books increased their client base, attracted more publicity, closed more deals, and developed more business leads. The more books they sold, the better their outcomes. Sounds simplistic sim·plism n. The tendency to oversimplify an issue or a problem by ignoring complexities or complications. [French simplisme, from simple, simple, from Old French; see simple , but industry insiders say driving your book sales equals more success for your business. In the study, titled The Business Impact of Writing A Book, 200 professionals who have written books, representing diverse industries, were asked to what degree their books advanced their businesses. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the survey's findings, those who sold at least 20,000 copies experienced a stronger effect on their business, compared with those who sold 10,000 copies or less. A whopping 96% of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. reported a positive impact, and say the time and effort spent writing, publishing, and marketing a book was well worth the investment. "Publish a book--it's a good idea," recommends Mike Schultz Michael Alan Schultz (born on 28th November 1979 in Van Nuys, California) is a minor league baseball pitcher for the Arizona Diamondbacks franchise. He attended Loyola Marymount University. On July 16, 2004, he struck out five batters in an inning. (see [1]. , principal of the Wellesley Hills Group, publisher of RainToday.com. The challenge, Schultz says, is finding a big-name publisher willing to pay for your idea. Publishers, who look at a book's sales potential, will ask: What's your reach? Do you have an established audience? "[Approaching] publishers can be a good vetting vet 1 Informal n. A veterinarian. v. vet·ted, vet·ting, vets v.tr. 1. To subject to veterinary evaluation, examination, medication, or surgery. 2. process to find out what book will be successful," says Schultz. Adding a book to an entrepreneur's arsenal of services not only leads to new revenue streams, known as indirect revenue, but can add instant credibility to the business. Small-business owners become respected experts in their fields after publishing. Some even cash in on speaking tours, freelance writing opportunities, and requests for consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . Vickie Clark's path to the literary world began with helping others in mind. Clark is the co-owner of Stone Mountain, Georgia-based Kids R Travelin,' a transportation service for children (www.kidsrtravelin.net). The service is located about 20 miles outside of Atlanta. After Clark and her husband and business partner, Carl, won the Making It Real Business Grant Competition (see "Mrs., Mom, And CEO," Motivation, April 2002), a barrage of phone calls to the Clark household followed. Admirers from New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to Texas were motivated mo·ti·vate tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates To provide with an incentive; move to action; impel. mo by their story and wanted to start a similar business to transport children home from school, to field trips, or to Grandma's house. "Our book came by demand," says Clark, a 34-year-old mother of three, who started Kids R Travelin' in 1995. "It's a business manual that gives all my secrets, and it's sold only on our Website." Priced at $297, How to Start a Business in Transporting Children delivers step-by-step details and includes the Clarks' award-winning business plan and a workbook work·book n. 1. A booklet containing problems and exercises that a student may work directly on the pages. 2. A manual containing operating instructions, as for an appliance or machine. 3. To date, they've made almost $30,000 with 100 copies of the e-book sold. "This wasn't necessarily a way of promoting my business," Clark says of writing the book "I did it to help others." To her knowledge, 50 transportation services have been started with guidance from her manual. The book has increased the company's profits only slightly but, she says, parents are impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: by it. It validates the company brand, distinguishes it in a heavily saturated saturated /sat·u·rat·ed/ (sach´ah-rat?ed) 1. denoting a chemical compound that has only single bonds and no double or triple bonds between atoms. 2. unable to hold in solution any more of a given substance. marketplace, and casts the Clarks as experts in a niche industry. Before business owners put fingers to keyboard, they must answer one important question: To self-publish or not to self-publish? Many new writers wrestle with-the decision. Rain Today.com's study weighs heavily on the side of commercial publishing. Surveyed business owners who published with a top-level publishing firm, such as McGraw-Hill or John Wiley John Wiley may refer to:
However, advances in print-on-demand technology make self-publishing a viable option. Entrepreneurs, business experts--or anyone for that matter--can publish professional-quality books in quantities as little as one copy at a time. The growth of online self-publishing services, for example, allows independent authors to publish books in easier, faster, and more affordable ways. "Right now, there is a revolution in publishing," says Diane Gedymin, editorial director of iUniverse.com, a leading online provider of self-publishing services (see sidebar (1) A Windows Vista desktop panel that holds mini applications (gadgets) such as a calendar, calculator, stock ticker and Vonage phone dialer. It is the Windows counterpart to the Dashboard in the Mac. See Windows Vista and gadget. ). "It's gone through music, it's gone through film, and it's gone through most businesses. Now, because of technology, that independent movement has come to book selling." Gedymin, along with Susan Driscoll, president and CEO of iUniverse, are authors of Get Published! (iUniverse; $9.95), a book that explores how innovations are changing the way books get published. They offer the following advice for publishing and marketing your book yourself: Follow editorial guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. . Get an editorial evaluation to ensure that your manuscript is compelling, effective, and competitive and that the content is placed in the appropriate order. "Even a professional [writer] should get the help of an editor," explains Gedymin. "Not everyone knows the professional components and order of a book." Develop and implement a marketing plan. Before you can sell your books, you need to market them, explain Driscoll and Gedymin. Get your book noticed by positioning it in the marketplace, creating effective ways to reach your target market, and implementing a winning marketing plan. "Most people buy books because they've heard about them from other people," says Driscoll. "Your book is a great vehicle for word-of-mouth marketing." Take advantage of networking. Build a network of contacts, making them aware of your book and the information in it. Use it as a calling card when you go to trade shows. "Attending events is an important marketing too] because you have a captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. audience where you can promote your services," says Driscoll, who encourages authors to "find events that tie into your business." Book yourself on radio and television. One of the most effective and inexpensive ways to garner publicity is through radio or television interviews. Start small by contacting local radio and TV producers and hosts--the people in charge of booking--and let them know you are available for interviews or commentary. "Most local radio shows are hungry for content," says Gedymin. "Call up the producer and offer valuable tips on your particular specialty." "I wasn't a huge [self-publishing] advocate until I did the research," says Lacy. Her goal was to sell Luv Story for no more than $10, because she'd planned to package the book with her brownies. Sure enough, wherever the brownies go, her book goes. Writing a book is no easy feat, and the process is time-consuming. Lacy accomplished it in chunks over several years; Clark, who self-published for a quicker release, completed hers in five months. But becoming authors undoubtedly gave them a leg up in their respective fields. Clark is now toying with another book and fielding requests to franchise Kids R Travelin.' Lacy has a second book Brownie Points Brownie points are a hypothetical currency, which can be accrued by doing good deeds or earning favour in the eyes of another, often one's superior. Conjectures for etymology OED The Oxford English Dictionary (Agate Publishing), hitting shelves next spring. She is also working on packaging an updated version of her Luv doll and recently celebrated 10 years in business. |
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