How to Make the Most Profit on Your Books
“It’s always the right time to write a book. That’s the fun thing about books; they just work, right?” —Dr. Ryan Gray
While Dr. Ryan Gray was still a flight surgeon in the U.S. Air Force, he became a podcaster and entrepreneur on the side. When he retired from the military, he decided to write a book. He had the time, and it seemed the next best step to take with his business.
In this episode of “Authors Who Lead,” I talk with Dr. Ryan Gray about his entrepreneurial journey, how he decided which publishing path was the right one for his book, and how he makes money from his books.
Traditional Publishing vs. Self-Publishing
After Dr. Ryan Gray finished writing his book, he began to wonder how he would publish it. One of his friends approached him about using a hybrid publisher, and he was intrigued and asked many questions. The publisher was entrepreneurial-minded and allowed him to keep the rights to his books, although he would make less in royalties than if he had self-published.
What Dr. Gray really liked about this publisher was their persuasion within the traditional publishing world, which also makes the academic world happy. Since his books were academic in nature, he felt this was the publishing path he should take.
Multiple Streams of Income
When you write a book, most of the profit and success will be found in many different versions of that book. These can be different forms of the book such as ebooks, paperbacks, hardbacks, and audiobooks. Each form appeals to a different audience and can grow your following and sales.
Dr. Gray also tells us that your book’s success can also come from how you use your book. He uses his books as training manuals for staff, textbooks for students, and resources for group coaching. Many leaders also use their books as business cards or as a resource after they’ve given speeches.
In this podcast, Dr. Ryan Gray also shares with us:
- What a fulfillment center is and how it can increase your profits
- That an audiobook is an important part of your business
- How you can use transcription to help write your book
- Ways your audience can drive what you should be creating
- More ways you can create content around your book
What was your biggest takeaway from this episode? Are you wondering if you should self-publish your book or find a publisher? Are you wondering how to make the most profit from your books? Share in the comments below!
That’s all for this week. If you have a message inside of you that needs to be written, today is the day to start. Don’t delay—take action.
Connect with Dr. Ryan Gray here: