Even “bestselling” books can turn out to be “failures”.

There’s a lot more to writing, publishing and capitalising on your book than just achieving bestseller status.

Tiago Forte (I admit, I’m a bit of a fan girl) author of “Building a Second Brain,” shared some lessons for aspiring authors and entrepreneurs in a recent post.

Despite the book’s bestseller status, it hasn’t been a financial success due to high upfront costs, the suspension of his profitable course and a lack of follow-up products.

Here are the main issues from Tiago Forte’s experience and my response:

1. Manage Upfront Costs: Avoid high upfront costs unless you’re certain of high returns.

You’ll almost NEVER be certain of high returns – so avoid high upfront costs. When thinking of costs consider your opportunity time too. You must make sure your book has a job to do for your business so that the “cost” will turn into an investment. Constraints help you manage costs.

2. Maintain Core Products: Don’t halt successful products when launching a new one.

It’s tempting to throw everything else under the bus when writing your book, focusing all your attention on that important project. That’s a sure way to end up with nothing to sell to all those lovely book buyers, see point 3.

3. Create a Follow-up Pathway: Ensure your book leads to additional products or services.

Your book isn’t a standalone product, it’s an asset in an asset stack that leads people to do business with you. You need to know what those steps are, and where you’re leading people. You will make more money from the follow up products than the sale of the book. This is especially true if you have a traditional publishing deal where your cut will be very small.

4. Leverage Existing Infrastructure: Use your current platform and resources to support new ventures.

You probably already have everything you need, you just might not be using it effectively. Start where you’re strongest and where your clients & readers are. No need to tiktok if everyone you want to influence is linkedin-ing.

5. Plan for Long-term Growth: Think beyond immediate financial success; aim for strategic growth over time.

When you have a job for your book to do in your business you can think more strategically. There are at least 7 good tactics for moving your book, most people rely on the ineffective 8th – do nothing! Choose yourself for the publishing route so you have control and can see the impact of your actions. Take action on tactics to move and sell your book.

The problem is – you’ve got other stuff to do too, right?

Like delivering to clients, keeping your skills up to date, writing your next book. While you might not have invested over a million dollars like Tiago did – “$1.13 million dollars ($570,000 on staff costs plus $560,000 on everything else) on its creation and promotion so far.” – you have made an investment in writing and publishing your book.

I think it’s time you got something back, and put that lazy book to work!

Have you got a “lazy” business book?

You know, it sits on your desk or bookshelf, taking up space, gathering dust?

Then join us for regular, small, manageable tasks – with playbooks, expert advice, cheatsheets and templates – so you can get that book working for you!

I’ve founded a new club just for you – it’s called the OnlyAuthors.club – we have regular meet ups with one task to focus on.

Join the OnlyAuthors.club

PS: You can of course just let the lazy little sod take up space! You decide 😉

PPS: Read more from Tiago Forte here: https://fortelabs.com/blog/did-my-bestselling-book-turn-out-to-be-a-financial-failure/