Would you like to earn six figures a year?
If you do want to earn six figures a year, you might want to consider what I am about to propose to you now.
Have you heard of the six figure book funnel?
If you haven’t, then you won’t know how everyday people are becoming millionaires off the back of writing just one book.
This isn’t a case of writing a book and then popping it on Amazon Kindle and hoping for the best. It is nothing like that.
This is where you write one book and build a business funnel around it.
That one book becomes your business card. But it goes one better than a basic business card. Your book will outline and showcase your talents, skills and results which pre-warm up potential clients and customers.
Something which a normal business card cannot do.
The idea behind the six figure book funnel is that you write – or have written – a book which you sell between £5 and £8. The book needs to be relatively cheap but crammed packed full of useful information.
Enough useful information to have people warming to you, your services and so that they feel that they have learned something of value after reading.
This can be a digital ebook or even a physical book. Often physical books are given away as long as you cover the cost of shipping (see pic below).
The book is sold at a loss but as you will see when you read on, the money is made back… at a huge profit.
The book will be sold via a single page on your website. When a person buys the book they have to give you their name and email address. As they are purchasing the book, they are taken to a second and maybe a third page where they are offered other relevant products at a higher price.
When people buy a higher priced item at the point of purchase, that extra income allows you to run paid advertising which really ramps up the process of selling your book and building your email list.
Your book will be advertised on social media platforms like Facebook, Instagram, YouTube and Twitter. Maybe choose only one platform to begin with. It is best to master one platform before you move onto another.
Selling the book is only part of the equation. It is just the door in. Building an email list is the most important part of this process.
Studies have shown that a well maintained email list is worth at least $2 per person per month. So if you have an email list of only 5,000 – which is not a huge list and quite attainable – you should be earning at least $10,000 per month from that list.
Sounds good right?
The funnel is the term given to a process where the person who has bought your book is taken through to other products you have for sale.
These range from the book costing £5 to anything upto £10,000. People who build six figure businesses with book funnels have products which range from £5, £47, £97, £197, £297 and more.
The number of people who buy these more expensive products will be a lot less than those who buy your book initially but they do make a fantastic addition to your income.
If you have 1,000 people who buy your book at £5, you have generated £5,000 in sales. Now what if your Facebook advertising cost you £7,000 to make that £5,000 in sales?
You are £2,000 down.
But what if 1.5% of the initial 1,000 people bought a product at £47 and 1% bought a product at £97 and 0.5% bought a product at £297?
1.5% = 15 x £47 = £705.
1% = 10 x £97 = £970
0.5% = 5 x £297 = £1,485.
£705 + £970 + £1,485 = £3,160.
You will have an overall profit of £1,160… which at first glance may not seem a lot.
But here’s the thing that you need to remember.
You now have an email list of 1,000 buyers.
These people have bought a product from you and it is common knowledge that it is easier to sell to people who have already bought from you.
Some of them have gone on to buy more products from you while they were buying your book.
But you also now have an email list to which you can sell your other products, and other people’s products to. That email list will make you more money over the coming years at a fraction of the running cost… and you made a profit while building it.
Plus, let’s not forget the book itself. It is written in such a way that the people who are reading it are more likely to buy from you again and pay for your more expensive products and services once they have finished reading.
The book warms people up to work with you or buy from you. That is the whole point of the book.
A person may have only paid £5 for the book and ignored the initial upsells they were offered at the time of purchase, but after reading the book they may come and buy your £1,997 product/service which is listed in the back of the book and has been discussed in great detail throughout the book.
Your return on ad spend has now rocketed. Technically, you can add that additional £1,997 to the profit from the book sales and offset it against the ad spend.
It is something which is often overlooked because it is not and cannot be recorded at the time of purchase due to the time delay.
Most people will measure the ad spend (money out) and the earnings from sales (money in) and then calculate their return on ad spend that way.
Which is correct… but also wrong.
Unlike a product like a T-shirt, where the advert is selling that one physical item – other sales may occur from that one sale at time of purchase – the book is selling a whole range of products over time.
Because this is a book which is acting as a salesperson for your products and services, it is selling ‘you’ everytime it is read which can be months after the initial sale.
It is possible that a book can make a sale a year or more after it was first purchased and read.
If you were selling a book about trading the stock market and inside the book it had a link to an online video course you were selling at £1,997, a person who desperately wanted to learn trading but couldn’t afford the course may come back a year later when their financial circumstances have changed.
If that person was still on your email list and you were in constant contact – something which you should do to keep an email list responsive – he will not forget about you or your course and will come back to you as the ‘first port of call’.
The one book funnel funnel is responsible for building a multitude of six figure businesses.
One book has the power to take a person from zero to six figures in record time.
As long as there is a funnel of other products in place and you run an effective marketing campaign which scales up the whole selling process.
As always, the most successful six figure book funnel is the one which is planned out.
Before you start to write your book you know what niche you are working in, what the book will include and what other products will be added to the funnel.
Once you have one book funnel in place, you can build another or just create new products to add to the funnel.
That is how you build a six figure online business using a one book funnel.
Recommended Reading: How YOU Can Make Money Using The Written Word