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The School of Lifelong Learning

  1. "How to Self Publish & Sell 10,000+ Copies of Your Book - Part 1," Mike Michalowicz
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    • You need moment of inspiration to write a book
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    • We all need that rock bottom or moment
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    • Your story needs to be in the book.
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    • How do you come up with unique story or idea
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    • What moment in your life are you most ashamed of? What knocks you to your knees?
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    • You want people to connect with you.
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    • He is ashamed of making money and losing it all. He realized approaching things in a frugal way but smart was good for him
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    • What are you most ashamed of? You need to be crying!
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    • What is your purpose? Why are you on this planet? What do you define for youself
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    • He believes entrepreneurships is lifes almost playground. his purpose is to inspire to education people about entrepreneurship
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    • Your purpose takes a lot of exploration to figure it out and at the same time it is right infront of you
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    • Let's assume topic idea is set. Now what?
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    • Took him 4 years of collecting data
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    • First defined what is his story and turning point. Then he started collecting content
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    • The first version of TPE was 400 pages this was 200
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    • Lesson book to buying a book that sells is to write a good book
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    • What is your goal of writing a book? To say you have a book or to sell a book
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    • Many people write a book as a tool to sell themselves. He thinks it is the worst way to write a book
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    • 1. Why you are doing it 2. What is your Story. 3. What is your tonality?
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    • Your tonality has to be consistent with who you are and you have to see it all the way through?
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    • Should I write a short book? Or a minibook?
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    • My personal embarrassing moment. Have a successful father and living in the shadow of that? Im ok with it? Or are you?
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    • When you are out with friends at dinner what do you watch the most?
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    • What shows do you watch?
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    • Looks for themes in your life and read about it
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    • Story telling is big. What are you ashamed of? That is why that is good
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    • Every book should have something personal as a starting point. What did you learn from it.
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    • He is a good marketing but he is a marginal writer
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    • Ghost writer - $3k to $10K. Hire the ghost writer before you started writing. He recommends. He hired her on elance
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    • He has a collaborative author. They will interview you and see what you mean. That is what is better for him. The woman he works with and she loves to write.
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    • How much money should you set aside for the write process?
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    • Costs: ghost writer - $5k to $10k editor layout person
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    • Most authors sell 200 copies of a book and all they have is an expensive brochure
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    • You have to pick one. Either you want to sell a book to sell it or for credibility.
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    • 500 books a day come out in the business category. Books are the most competitive market that has ever expensive. Some are pdf. Some are free.
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    • Are you going in this to be an author and do it?
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    • Fear would say I want to just be an author and pride would say I want to sell 1 million dollars.
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    • He went all in! That is the difference between him and books that fail
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    • Make a lot of web content for downloadable stuff. Get's people to your website
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    • Why did you feature people and their stories in your book?
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    • You need to give the recipe and then show a real world example.
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    • If you interview someone now you have a relationship with someone. He choose 15 stories.
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    • PART 2: TITLE/ COVER
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    • Title selection. He used pnemonics as his method. He is the first and only guy who used it and tied it to entrepreneurship.
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    • Monster/Apple Pnemoinc
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    • The Pumpkin Plan - It has mnemonic pumpkin. He is the first guy to tie it back to entrepreneurship
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    • Start speaking and start sharing stories
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    • How did you come up with toilet paper. It just hit him one day
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    • He went back to the same classes 6 months later. The only thing they remembered that he was the toilet paper guy
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    • Some guy said you are the toilet paper entrepreneur
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    • Other great book titles? -War of Art
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    • War of Art - The is a defacto book for entreprneeurs
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    • The Atlas Shrugged
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    • The Purpose Cow
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    • All the Dale Carnegie Books
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    • Search on amazon for the word Entrepreneur and see what comes up
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    • 3 Tiers of Author: Tier 1. They know you and know your book Tier 2: Speak in a room and 1 person knows you Tier 3: You wrote a book
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    • How do you come up with a title? -What are you shame stories? -Mnemoic - A physical story that you can see -Rule breaking - 4 hour work week
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    • Launch - Is the working title that book and then he said no
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    • COVER
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    • He went to an major agency and his friend did the cover for free. But he wanted it to be a play on the word of three sheets left of toilet paper
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    • Tips/Tricks for cover. If in doubt go to elance.
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    • Self Publishing things
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    • Bawker - ISBN. For $100 you can buy 10. Because you need one for each version of the book
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    • Published By - HarperCo - That is his ghost writer. Anganet Harper
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    • You want to create a company as a publisher. It gives you a bit more credibility
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    • Hard Cover - Why did he go hardcover. He saw everyone else was doing it
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    • Book Masters - So that printed it for him
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    • He bought 20,000 copies of his own book. That was a $75,000 cost. It was his biggest mistake which turned out to be his asset.
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    • You should start with 2000 to 3000 books
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    • Now you can print on demand vs order a bunch of books.
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    • Kindle is the biggest seller for him.
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    • Amazon now has a warehouse that you can ship it to. Print on demand is where everything is going
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    • How much money you make per book?
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    • TPE is retail price at $24.95
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    • He gets 55% commission for book from Amazon. After costs.
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    • Now on Amazon it sells for $9.99. That is a price threshold
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    • Amazon takes 45%
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    • Kindle: The publisher gets 75% if they sell it for under $10 and 25% if they sell it for over $10.
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    • Why are you selling 1000 books a month on Amazon
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    • He sold less books at $2.99 vs $3.97. It sells way more. Why would you want to sell for $10 and not sell vs $2 and sell
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    • Kindle pays you once per month
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    • B&N - It was a marketing trick on how he got there
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