119: Tim Church – The Seven Figure Pharmacist

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How to Launch a Book Without Amazon

Speaker 1: Welcome to the authors who lead podcast. This podcast is dedicated to you. People who want to be inspired by authors leaders and the messages they share. This is such an important podcast to us because we help uncover what goes on behind the scenes. When authors are writing their book, we talk about the process. We talk about where they get big ideas and you can listen in on those conversations. We can't wait for you to join us. So let's get started. Everybody has still thrown us here. And another episode of authors who lead so thrilled today, have someone who I'm considering a friend, Tim church, he's, he's a clinical pharmacy specialist in primary care at the West Palm beach VA medical center. We also did his postgraduate training. I received his doctorate of pharmacy from North East, Ohio medical university and his practice, which is really around disease management.

Speaker 1: And he focuses on specifically diabetes, which is a really interesting topic in general. He's written a book on this topic as well called when eating right isn't enough. He's also has a podcast. He also helps other pharmacists kind of grow in their ability to do so many different things. One of his books called a seven figure pharmacists, how to maximize your income, eliminate debt and create wealth. But the book we're going to be talking about today is really exciting because he's going to help you figure out how do I get rid of all of this debt that I acquired as the pharmacist, the pharmacist guy to conquering student loans. So when do people have loans now who are coming out of school? So this will be interesting conversation. Let's welcome Tim to the show. Tim. Welcome. Thank you. So, yeah. So what was really great is that we have a mutual friend that kind of connected us, which is always nice because, you know, I take those connections with great pride because one great person, usually it's another.

Speaker 1: And as obviously true with you, and then I heard about your book project that you were publishing this book, and I thought, well, that's a great, that's a big need. Obviously you're filling a big need for people to get out of pharmacy school with these, not just tens of thousands of dollars, hundreds of thousands of dollars of debt, which is incredible if they didn't get out of their undergrad without debt, like they're just accumulating more and more. And so you wrote a book to help pharmacists. Tell me why, why this book, why, why pharmacy? And I know a lot about it because I've read your book, but let's help the readers understand why you chose to write a book about getting other pharmacists out of debt. Sure. So I think you've got to step back a little bit. When I graduated in 2011, I was in a position where I really didn't know what to do with my student loans or finances in general.

Speaker 1: It was kind of like, Hey, you've got your degree now, you know, you'll figure it out. You're gonna be making a decent income. So you'll be fine. So it's pretty much kind of where I was. So really it's one of those things where you don't know what you don't know. And at the time I really wasn't prepared to, with all of the strategies that were available to me in my mind, it was kind of like, okay, you've got debt, you pay it off when you can, the faster, the better. But the reality is when you're dealing with hundreds of thousands of dollars a debt, so pharmacists will average about $170,000 is the amount that they would borrow to get through school. And then obviously,

Speaker 2: Like you said, if they have undergrad debt as well, that would add on top of that. But the reality is there's a lot of forgiveness programs. There's many different ways you can tackle that. And it's very, very important to know what those options are. Because one mistake, as I mentioned in the introduction of my book really can cost you hundreds of thousands of dollars because it's not as simple as, okay, you have debt pay it off, but how do you get tactical about that? Looking at all those different strategies, how do you save the most money? Even if it takes you a little bit longer than you could otherwise pay it off on your own, right?

Speaker 1: You mentioned another author's book who you read, who started making the wheels turn about solving this problem and a different way, rather than say, I'll just force as much money down into this debt to pay it off as possible. What were some of those early books? Cause I know that all of its authors get inspiration from other authors that really started to open up your mind.

Speaker 2: Yeah. So when I graduated from pharmacy school, I took a long drive from Ohio to Florida as I was moving down here. And I thought it was a one year journey ended up being now almost 10 years, but that's how it works out. But one of my cousins sent me a CD. If anybody knows what those are, uh, basically it was the total money makeover by Dave Ramsey. And as I was listening to that, it just like transformed and open up so many different things for me because I really didn't have a good handle on money. I didn't feel like my parents, friends, relatives really gave me a great foundation. So it was kind of like a new take, a new perspective on just how to manage money and you know, and part of that talks about student loan management. So that really kind of shaped some of my early thoughts and opinions about that, which in general, he has so much great advice and great information. However, it's not really specific to the pharmacy professional and kind of going down that road of just knocking out debt as fast as possible is not necessarily always the best strategy. Yeah,

Speaker 1: Probably true for any field that has the professional degree attached to it. Let's say nursing teachers, oftentimes even people who are in law enforcement who have a degree in their sciences, because there are programs for forgiveness. Uh, companies also offer forgiveness programs. Sometimes even if you're not in an industry like that, sometimes companies, one way they consent advise and help you, maybe they can't do in salary. They can do some also some forgiveness, talk a little about how that might work so that people get a sense of what that means when you talk about forgiveness.

Speaker 2: Yeah. So even before forgiveness, I think there's even opportunities to get free money. And that's actually the best way to go about it is, is not even have to worry about making payments or making certain amount of payments, but if you can get free money, I mean, that's the first thing to go. And what there are is there's a lot of government and military programs available for pharmacists. One is through the veteran affairs, which is where I still work. Unfortunately, their program was not available to me at the time that I was hired, but at different positions around the country, they have that. For example, the Indian health service has program available for tuition reimbursement. There are programs through, within the military, there's some with research, the national institutes of health. So those are really some very specific options that basically just by working at one of these particular organizations or institutions, they're going to help you pay back your loans.

Speaker 2: That's really, the only stipulation is that you continue to work for them, but then you have some of these other programs that are available specific to the federal student loan program. So one of the big ones, obviously it's always in the news and this isn't just specific to pharmacists, but other healthcare professionals is the public service loan forgiveness program. So that's something where if you make 120 qualified payments, so basically over 10 years, you make an income driven repayment. As long as you're meeting all of those requirements, that you're going to have your loans forgiven. And not only are they going to be forgiven after making those payments, but it's going to be tax free. So that's a huge deal. So in order to get that, you have to work for a qualified employer, which is a government entity could be a nonprofit five Oh one C3 company or some other nonprofit companies will also qualify for that.

Speaker 2: So when you look at the math and you do that, it's such a huge strategy because you're literally getting tax-free forgiveness, whatever is left over and you only have to make income driven or payments throughout the time. So really that's a big one. And then the other one that's kind of less known that not everybody knows about is there something there's really no term for it, but I just, I call it non PSLF forgiveness. So basically if you have federal loans and you make qualified payments for 20 to 25 years, depending on the specific repayment plan is that you actually will get forgiveness on the remainder after those 20 to 25 years. But the big caveat is that whatever, that amount forgiven you're on the hook for whatever your tax bill is. So that's a little bit different, but again, for somebody that has a huge debt to income ratio, like many pharmacists out there and other medical professionals that's sometimes can still be a good strategy,

Speaker 1: Right? Let's talk a little bit about your ideas for writing the book. So obviously your podcasts is aligned with this. You help pharmacists not just pay off their debt, but do other things, tell me how you're using this book as a strategy for growing your influence, growing your audience, building authority. And in which ways would you encourage authors things you've done well and things you were like, Oh, I would've done that differently.

Speaker 2: Well, I think going back to 2015, when I wrote my first book, when eating right isn't enough, and that was completely different target audience, I was targeting patients who have diabetes. You know, I look back at that project and I look back now and I definitely made a lot of mistakes along the way, but at least that gave me a great foundation for getting started. I think that getting over those initial hurdles, the barriers that I called them to, to actually writing, once you kind of get over, those can be a really incredible process along the way, because you're only able to help so many people that you interact with either on a, on a one to one basis, whether it's face to face telephone or their modalities. And being able to write a book is, is a way to get your message out there to a lot greater number of people.

Speaker 2: But as you mentioned, I think it also is just the way to improve your own personal brand, but also gives you more authority in that particular space. So, you know, I think this book almost came pretty naturally because we did, we were very successful with the first financial pharmacist books. So seven figure pharmacists that actually made, you know, very good revenue. It was very well received. And we had even a number of colleges buy the book in bulk and give it to their students. So that was great. So that to me was like a catalyst like, okay, we did some things right here now, how do we replicate that model? And what are some other topics that are more specific? So even though we talked about student loans in that book, it's just such a big topic. And so many people, so specifically pharmacists, this is an issue that more than 80% when they graduate are going to deal with, so it's definitely a problem.

Speaker 2: And we really wanted to just provide that solution. And I think that through the podcast episodes we've done, we've done a number of blog posts. I mean, I think we had so much content there. It was just a matter of putting it together and packaging it in a way that could get somebody from, okay, here's my situation. I've got a lot of student loans. I'm not quite sure what to do. How can I get to a very tactical strategy that I'm going to feel confident about? Not, and not only that, but how am I going to save the most money? And so it was kind of a more getting someone to get that transformation to the aha. Okay. I'm not confused. I'm not as overwhelmed anymore because now I have a plan and you know, like I said, I think I was listening one time to one of Russell Brunson's Facebook ads one time.

Speaker 2: I mean, he's got probably like, you know, 4,700 going at any given time, but he said something that was very interesting to me one time. And he said, you know, he was giving a talk at one of his ClickFunnel or philology meetings or something like that. And he said, you guys own any of my books and they, everybody raised their hand and said yes. And he said, well then why are you here? And he basically said, you know, I'm giving the same information, but I'm just packaging it in a different way. And I think that really was a light bulb for me, because even though we're using different means and modalities to deliver the message, we even tried a student loan course that a lot of people like the book format, they like that it's very easy to follow. Especially if you do it in a way that's very organized and kind of get somebody from point a to point B. Yeah.

Speaker 1: And I thought you did a great job with that. Like each chapter is really clear. This is the objective at the end to give a little summary and you move quickly through it. Most people who are busy are trying to deal with a problem, solve something. Don't want to spend their sitting down and thinking, okay, how long is this going to take? They want to be able to dive and get to work and find out if this is going to work for them. And I thought that the great, the great thing about your book is it, does that really simply if I'm able to read it and understand it, I always feel like it's doable. I read lots of books and a lot of the books I read sometimes get lost in them because they spend so much time that I don't ever get to what they're trying to teach me.

Speaker 1: So kudos to you for doing that. So tell about the launch strategy of the book. So, you know, you wrote the book, you're trying to get it out to the world. What are some of the ways you found that have been successful coming out of podcasts is a great way to kind of leverage an audience of somebody. But what are the other things you're doing? Obviously you mentioned a Rosa rental breath and I can say his name. I'm sure I can also Bronson. And you talk a little bit about, you know, he has a model for launching books. What is your strategy for this particular book?

Speaker 2: That's a great question. And, you know, going back to seven figure just for a moment, you know, that one of the biggest things we were contemplating on is, you know, do we go Amazon route for distribution? Do we do our own distribution? And we kind of went back and forth on that. And we ultimately decided on doing our own distribution. And by doing that, we were able to develop different packages of the book. And so, you know, we had options where it was the book, we had some additional resources and then some more even one-on-one packages. So I think that was we, we follow that same model that we were going to do our own distribution, because it is a very niche topic. We have a very specific audience and, you know, a lot of those people are within our community and we, and we know who they are.

Speaker 2: So it just kind of made sense to do it that way on this particular time, which is a little bit different is we did a one week preorder sale essentially. And what we did was we, we utilize the podcast to do that. We used, uh, an email strategy to do that as well. And then of course, a lot of the social media platforms. And so that was really, that was really a cool experience. Cause we had never tried that before. So essentially we did for one week we put it on sale and that actually helped us understand how many orders and how many books we'd have to order in the first place. So I thought that was a, it was turned out to be a very good strategy. And then now we're, we're basically looking to open it back up, you know, for, for just taking regular orders at this point.

Speaker 1: Let's talk about something you, you said, so the people understand that language. You said, talk about distribution, tell us what you mean by that. So the people who are like new to authorship or not sure what that means, what do you mean? Put it on Amazon or do your own distribution so that people can understand where you're coming from.

Speaker 2: So obviously if you're going to self publish a book, meaning that you're taking the responsibility from taking it from vision to reality, then you have to decide number one, who's, who's going to print the book, sir. Right? If you're going to do a physical copy, but then where is your distribution going to go? And what I mean by that is, are you going to use, Amazon is probably one of the, is, is the biggest platform if you're going to sell books or are you going to use other distribution channels? I mean, it could even be in physical stores. I mean, could even be a possibility, um, or are you confident enough in your own brand and your own outreach connections that you have with own influencers where you're going to essentially not only take the book from start to finish, but then you're going to do all of your own distribution.

Speaker 2: And, and so you kind of have some of those options. So the, the, the upside of using Amazon is that that's a platform for buyers. When people go to Amazon, they're looking to buy, however, you, you don't necessarily know who those people are all the time that are visiting Amazon versus somebody that would visit your website, visit you in a Facebook group or one of your other social media channels. And so that's something that obviously we kept struggling with over and over, and then it was more of, okay, realistically, how do we get the logistics? Okay. If we're going to print our own books. So what we ended up doing was ordering author copies through Amazon. So we use Amazon specifically as a manufacturer of the paperback books that we did, and then basically unpublished off Amazon so that we weren't going to sell there at least initially, and then do our own distribution. So actually my mom in Ohio has done the distribution for our books of seven figure. And then also for, for the launch strategy of this book. So that was a really interesting process, but I think there are a lot of benefits of doing that because obviously Amazon takes a lot of the royalties on every sale that you make and you can actually come out a little bit better depending on how much it costs for you to do your own distribution. I'm in for us. Just kind of seemed to make sense though.

Speaker 1: Yeah. When you talk, so distribution means I'm putting, I'm getting an order, I'm getting the book, putting into the mail and sending it off to make it simple for people. Um, are you doing a digital copy of this book so that people can then order it on other platforms like Amazon or Apple or nook or something like this when you're not doing it? Or are you saying completely on your own sites?

Speaker 2: I think it's definitely something that we'll consider down the road, but because we know a lot of the influencers in this space and know have a lot of good strong partnerships, I don't know that we necessarily have to use some of those broader channels that are out there at least initially. But I think what we did, which was kind of nice with seven figures is we kind of did that for a couple of years even. And then we decided to put it out on Amazon. So now we kind of have orders that come through our own channels and then also through Amazon as well. So I think that eventually that, that may be the case. And obviously the plan was that we were going to do an audio book version of this right from the beginning. And that's kind of how I wrote the book in mind is being able to do that. But because of COVID that has sort of put, been on the brakes at the time being. But, but I think that'll be an option as well.

Speaker 1: Yeah. Audio books are a great way because people are buying subscription-based services where it's very little cost because there's no shipping, there's only a cost of, you know, the transfer of files. And so many people are using audio books there, the upswing, and since people, aren't the pain of paying for one, isn't the option. It's just getting known. That's when having a service. And if you serve as a publisher for something like the service that actually sends files to audible, which also then partners with Amazon, which is ACX, you become their affiliate and you can get a $50 bounty for every new subscriber. And then you also give the book to free to that subscriber and they're happy. And if they stay for 60 days, you get a bounty and then you also get the payment, every book. So each of these books can then be like $60 a book, which can be a really high value when you are thinking of busy pharmacists who might be driving in their car on a commute to a place they don't love and have debt. So

Speaker 2: Yeah, it's definitely a, it's definitely a priority. And I kind of looked at, as you mentioned it, you know, getting it on through ACX I just got to schedule the time to get in the booth.

Speaker 1: Yeah. That's always a challenge. Well, let's talk a little bit before we kind of move forward here. Let's talk a little bit about writing the book. What was your process in doing it? You came up with an idea, you said, mm, I have a lot of content here. I want to get this into a book format. Obviously some people make the mistake of grabbing a blog, dividing the blog into chapters and say, this is the book doesn't really work that way. It doesn't flow so well though, the content might be good. If it doesn't have the flow of a book, people will stop reading and not talk about it. And that's when the book starts, whether you have an audience or not, kind of, it can fall flat. Tell us a little about your book writing process. What would have, what did you do to get kind of get it in shape to get it into the book?

Speaker 2: So I think the key at first was just really getting that idea, what it was going to look like and what form it was going to take with regards to the chapters themselves. But then what was the end result that we were looking for? So we're kind of beginning with the end in mind. And I guess one of the, the fortunate things that we did, we actually did a student loan course that we put out a little over a year ago, and that really had all of the key elements that I wanted to put in the book. So it was kind of a matter of taking the videos that we had done, some of the workbook content and just putting it in a, in a readable format. And one that was going to flow very nicely in a book. And I also had an assistant that really helped as well.

Speaker 2: So she even got some of the contents started. And then I kind of took more of a, an editor perspective on some of the beginning chapter. So that was really key in terms of just getting a project off the ground. I think one of the things that I did this time around, which was interesting is throughout the whole process, I had somebody on our team read out loud, all of the words and what I found interesting about that. Number one for going for an audio book format with a goal, obviously that that is very helpful, but you find so many mistakes and you realize things that sound good and, and things that are, are not so good. So it's something that before sending to a copy editor, I think was very helpful. So that was kind of the, the initial process. We had a timeline set up and being very specific about these deadlines.

Speaker 2: For me, that was just key. It was like, it wasn't getting done unless I had a deadline. Yeah. So I think the whole, yeah, I think the whole process took this one took probably about eight months to get the initial draft. But then I think what was really great is contacted your team and having your team being a part of that. So once that draft was there and then saying, okay, here are all the steps to get it now from draft form to I'm ready to publish this, I'm ready to print the copy. And so your team is very, very organized. And I just got to give you guys so much kudos because it took a lot of the stress away from number one, having somebody I could count on to be a great copy editor and even elevate a lot of the chapters, just to make it more enjoyable to read. And then also the interior design, which I will not recommend that to anybody to try to do that on your own.

Speaker 1: It is a special gift because they ended up look like a really nice word document. If you're not careful, definitely having someone professionally and artists really good, or you did something, you said something that I recommend to authors is read your book out loud. Some people will. I tell them that. And they're like, I'm like, no, no. I mean, say the words out loud because it's even better. If you can have someone else read it because you'll fix things in your mind that aren't there, because they're your words. And you know how you wanted to say when you're writing and then you'll fix them unknowingly. So sometimes it's great to have someone else read them and even be there present to fix. You're like, Oh, stop, hang on. That's that say this? And it's like, reread that. They're like, yep, that's better because it just solves so many problems.

Speaker 1: One the Autobook problem that you talked about. And then secondly, the idea of flow, your voice tone. Those things are hard to hear in your head. So I really appreciate you, especially if you're not a professional writer and know what that sounds like. You've got to have that context. The last thing I want to say is anyone listening. So you might think, gosh, I really would love to write a book, but I just don't have time. Tim runs a successful podcast and a business. He's a full time pharmacist. He's about to have a child, but the time of this airing, perhaps let's help people understand that it's about creating milestones, creating plans, creating deadlines and not living your head and just make those mistakes on the page. Would you agree that that's kind of how you have to do it? If you're starting out, your first book is not your best. You just gotta accept that and keep going.

Speaker 2: Yeah, definitely. I mean the first book that I wrote, I didn't even break even on the cost to get it to completion. And obviously that was a hit to my ego initially. But what I found is I read a book called book launched by Chandler bolt, which I think he might be one of your competitors. But so, but, um, but, but anyway, he, you know, what I realized after reading that is that, you know, you don't have to be somebody with a ton of authority necessarily, or have done all these great things in order to be an author and to write, write a book. So in my mind, once those barriers about how to actually the process of getting it from start to finish once that was gone, then for me, it was just a matter of, okay, how am I going to plan this? How am I going to organize it? When is it going to be complete? And like you said, having those deadlines in place, but yeah, when you have a full time job, and then you try to do these things on the side, you have to be very intentional about your time. And for me, I mean, I mean, that's been the key.

Speaker 1: Yeah, that's great. It makes it really simple when you break it down into parts and days and hours, and then one, you don't have to get overwhelmed because the writing used to look like for me, I'd sit down at the computer and stare at the computer, go Lu research on the internet, come back, write three words, deleted all, start over, reread what I wrote. And then I, by the end of the day, I'm zero words into what I started out to do. And then when you realize this is all about where it's all about, like taking steps forward, you get more clarity about how to do this. And then of course, you know, the hardest part is having something to say, do I have something to say? And then if I do getting them on the page, so let's, let's wind up here by, you know, if you could give advice to anybody thinking, I'd like to write a book to help my business or just share what I know, what would be one piece of advice. You'd give those people who are sitting there thinking that maybe they might want to do this.

Speaker 2: I think to me, I guess two things that come to mind is number one, you got to get over the fact that you don't think you're qualified to do that. So there's a, there's a quote by the great motivator, Les Brown, he said somebody's opinion of you does not have to become your reality. So whatever you think other people think about your current situation, forget about it. And then I think just accepting failure as part of the process, meaning you may not sell a bunch of copies, especially with your first book or the way that you initially launch it or market it. So you just have to be okay with not reaching some of those markers of success you may think are there. So for me, when I look back just getting a book published was more important than actually making money from it and knowing that. So I think if you do have a message and you want to share that message, you need to break down any barriers and any excuses from as to why you can't do it. And then also at the same time, be okay with criticism and failure along the way.

Speaker 1: Right? That's such great advice, Tim. I'm sure there's a lot of people that are excited about trying to write a book and maybe even some pharmacists out there listening, thinking I have debt, he hit me in the nerve. Where were they learn more about you and to follow your work?

Speaker 2: Yeah, the best place to check out what I'm doing is on LinkedIn. So it's a Tim church or Timothy Church, and you can also check out our website, your financial pharmacist's dot com, where we have all our podcasts episodes. And we talk a lot about on the side hustle edition that I, that I host on the podcast. And we talk about people who have written books or have done other things to generate other streams of income.

Speaker 1: That's great, Tim, it's a pleasure. Thank you so much for being on the show. And, uh, I look forward to more books from you. Thanks for the opportunity. Thank you for listening again, to another episode of authors who lead, we appreciate you being here and we hope you subscribe. So you get this delivered to your device every week. And if you haven't us a review, please do so. It really helps. And if you have a book in your heart, you've been wanting to write a book, please go to authors who lead.com and join us on this journey of becoming a published author.

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Tim Church is a clinical pharmacy specialist in primary care. He self-published his third book, The Pharmacist’s Guide to Conquering Student Loans.

Tim joined the Your Financial Pharmacist team and is now the Director of Getting Things Done which includes content creation, marketing, web design, and managing strategic partnerships. They provide guidance and education through their blog, weekly podcast, and their comprehensive financial planning services.

Tim’s practice is in chronic disease management with a focus on diabetes management. He is a Certified Diabetes Care and Education Specialist and has self-published a book on this topic for patients titled When Eating Right Isn’t Enough.

What We Discuss with Tim Church:

  • Why he chose to write a book to help get pharmacists out of debt
  • What is debt forgiveness?
  • Leveraging the book and podcast to grow his audience and build authority
  • Book launching and distribution strategies
  • Why audiobooks are great!
  • Tim’s book writing process
  • How to overcome the barriers of writing your first book

[01:55] Why a Book to Help Get Pharmacists Out of Debt

When you’re dealing with hundreds of thousands of dollars of debt, pharmacists would borrow an average of $170,000 to get through school. Then obviously, if they have undergrad debt, that would add on top of that. But there are a lot of forgiveness programs and different ways you can tackle that. 

It’s very important to know what those options are because one mistake can cost you hundreds of thousands of dollars.

It’s not as simple as paying off debt. You have to be tactical about it and look at all the different strategies. How do you save the most money even if it takes you a little bit longer than you could have otherwise paid off on your own?

[05:17] What is Debt Forgiveness?

Even before forgiveness, there are opportunities to get free money. The best way to go about it is not to worry about making payments or making a certain amount of payments. 

If you can get free money, that’s the first thing to go. 

There are a lot of government and military programs available for pharmacists such as:

By working at one of these particular organizations or institutions, they’re going to help you pay back your loans. The only stipulation is that you continue to work for them. But then you have some of these other programs that are available specific to the federal student loan program. 

If you make 120 qualified payments (basically over 10 years), you make an income-driven repayment. As long as you’re meeting all of those requirements, you’re going to have your loans forgiven. Plus, it’s going to be tax-free. 

In order to get that, you have to work for a qualified employer, which is a government entity. It could be a nonprofit, 501(c)(3) company or some other nonprofit companies will also qualify for that. 

If you have federal loans and you make qualified payments for 20 to 25 years, depending on the specific repayment plan, you will get forgiveness on the remainder after those 20 to 25 years. But the big caveat is that whatever that amount is forgiven, you’re on the hook for whatever your tax bill is. But again, for somebody that has a huge debt-to-income ratio, like many pharmacists out there and other medical professionals, that sometimes can still be a good strategy. 

[08:29] Leveraging the Book and Podcast to Grow His Audience and Build Authority

The book is a way to get your message out there to a greater number of people. It’s also a way to improve your own personal brand. It gives you more authority in that particular space. 

Student loans are an issue that more than 80% of graduates are going to deal with. 

The rise of student loans in the country is definitely a problem. And Tim wants to provide that solution through the book and other forms of content like the blog posts and the podcast. 

[13:00] Book Launching and Distribution Strategies

Tim utilized the podcast to launch the book. They used an email strategy to do that as well as tapping the different social media platforms. Then they put the book on sale for a week just to help them understand how many books they have to order.

If you’re going to self-publish a book, you’re taking the responsibility from vision to reality.

First, you have to decide number one who’s going to print the books if you’re going to do a physical copy. Then where’s your distribution going to go? (with Amazon as the biggest platform). So you’re going to do all your distribution.

Amazon is a platform for buyers. When people go to Amazon, they’re looking to buy. However, you don’t necessarily know who is visiting Amazon all the time versus somebody that would visit your website or visit you in a Facebook group or one of your other social media channels. 

Another thing to think about when self-publishing is the logistics. However, Amazon takes a lot of royalties on every sale that you make. And you can actually come out a little bit better, depending on how much it costs for you to do your own disruption.

Audiobooks are also a great way because people are buying subscription-based services. 

Audiobooks have very little cost because there’s no shipping necessary. There’s only the cost of the transfer files. And so many people are using audiobooks.

[20:00] Tim’s Book Writing Process

Tim had somebody on their team read all of the words out loud. The idea of flow, your voice tone, those things are hard to hear in your head. So you’ve got to have that context if you’re not a professional writer. 

It’s sometimes better if you have someone else read it because you’ll fix things in your mind that aren’t there. 

[23:43] Overcoming the Barriers of Writing Your First Book

If you really love to write a book, but you think you don’t have time, it’s really about creating milestones, plans, and deadlines. Understand that if you’re still starting out, your first book is not your best. So you have to accept that and keep going.

You don’t have to be somebody with a ton of authority necessarily or have done all these great things in order to be an author and to write a book. 

The key is to be very intentional about your time. 

Break down things into parts, days, and hours so you don’t have to get overwhelmed. It’s all about words and taking steps forward, and you get more clarity about how to do this. 

[26:10] Message to Aspiring Writers

Get over the fact that you don’t think you’re qualified to do that. Somebody’s opinion of you does not have to become your reality. So whatever you think other people think about your current situation, forget about it. 

Then just accept failure as part of the process. You may not sell a bunch of copies, especially with your first book or the way that you initially launch it or market it. You just have to be okay with that. 

Sometimes, getting the book published is more important than actually making money from it.

Break down any barriers and any excuses as to why you can’t do it. Then at the same time, be okay with criticism and failure along the way.

Episode Resources:

www.yourfinancialpharmacist.com 

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