Greetings here on this lovely Wednesday! It’s Wealthy Wednesday, where I, through The ILEAD Company, help authors establish passive income and have money work for them. Does this include you? Do you have the goal of establishing passive income as an author? If so, let’s dive into today’s message.
How to Build Wealth As An Author That Brings Desired Results
I want to be short and sweet with this message. As an author, I have come to realize that two elements are needed to build passive income as an author: 1) Strategy & 2) Resources.
It should be assumed that you have the drive to gain passive income since you have the desire. Strategy, however, is necessary.
Book Revenue Strategy
As an author, what is your revenue goal that you are trying to potentially reach? The goal is needed so that the strategy can be established. The goal should be reachable in this season of your life. Results fuel continual action. Do you desire to obtain $1k per month, $4k per month or is it more? Set the goal. Then begin to establish a workable strategy.
A workable strategy is a plan comprised of steps that you or your team can carry out. The plan involves the process, packaging and marketing as well. Write down the steps needed to reach the goal. Secondly, how will you reach that goal, through book sales only or through services or products that you package together with your book? Lastly, how will you promote and market the packaging, online, offline, or a combination of the two? After becoming clear on these areas, consider the resources.
Resources Needed To Carry Out the Strategy
What resources do you presenting have to build your business online and offline? What resources will you need to obtain to execute the strategy? If there is a gap or need and it can not be filled, revamp your strategy. Ensure that it is doable based on where you and your team is with regards to your skillsets.
Once you establish your strategy and understand the resources at your finger tips, the finish line is yours. Go and cross it to reach your passive income goals.