03 Leading Mentors - Book Creation

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These materials are subject to the license set forth in the Publishing Mentor Agreement
and may not be copied or used except as specified in the license.
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The Leading Mentors Publishing and Marketing System

Teleseminar #3

This transcript is only minimally edited so you can still benefit directly from the live,
transformational experience of the original session.

3:01 Step 1 of the Proprietary System to Author Books and Information Products
That Can Attract a Lifelong Stream of Clients CD Track 1

J ohn: Well, hello everyone. This is J ohn Eggen, the Publisher at Mission Publishing.
Welcome to the third teleseminar in The Leading Mentors Publishing and
Marketing Program. Our teleseminar tonight will last 60 minutes. We have a
wonderful session planned for you. In this session, Ill give you a copy of my
system planner for Step One, so you can begin to take action on it.

3:02 Establish Yourself as an Expert and Leader

This program is about more than just helping you develop a book or information
product. Its also about helping you establish yourself as the distinctive expert and
leader that you are and want to be, so youre living your optimum life both
professionally and personally that is the life that you really want to live.

Your books and information products are really just a means to that end; a
shortcut, actually. This teleseminar tonight will show you some of the most
important strategies and secrets to do all that. In fact, Im going to start by giving
you what is perhaps the biggest key of all. If you were in my last mentoring
program, youve heard this before. Please listen again, because Im going to be
adding quite a bit of advanced material tonight that you havent heard and will
want to.

3:03 The Secret of How to Do More by Doing Less and Less

When I was 22 years old, my second mentor was a man named Tom Flamma.
Tom was a very aware being, about 55 years old at that time. One day, we were
walking down the street in his hometown of Philadelphia. We were talking about
the subject of mastery, and how some people become genuine masters, whether
its in martial arts, business, the arts, or any discipline.

Tom turned to me and said, J ohn, do you know the difference between a master
and a student? I thought for a minute, and said, No, I dont. Tom said J ohn, a
student does less and less by doing more and more. But, a master does more and
more by doing less and less. My friends, Ive never forgotten that.

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Now, about 30 years later, I have to tell you that one question that Tom posed to
me, at the tender age of 22, and his answer to me, probably has influenced my life
more than any other single thing anyone has ever said to me. Tom was a master in
his field. Think about that. By a single question, he has shaped my entire life.

Since that day, Ive devoted a good portion of my life to searching out the secrets
of how to do more and more by doing less and less. I made discoveries that
radically transformed my life, and also the lives of my clients. I plan to share
many of those discoveries with you during the next few months in our program.

3:04 A Metasystem for Success CD Track 2

The secret of how to do more and more by doing less and less is sometimes called
leverage. Ive taken everything Ive learned in more than 30 years and Ive
synthesized it into a single system, which Ill begin to teach you in this session.
Its a meta-system, really. This meta-system is a combination of what I call
vision, strategy and execution.

Today, its fashionable to talk about execution, which is, of course, taking action.
Execution or action certainly is important, but when you leverage it through
vision and strategy, you work smart rather than working hard. You can get
exponentially greater results in less time. You can succeed at whatever is
important to you while creating the free time you want. By the way, theres a
fourth part of this meta-system that Ill be discussing with you in the future.

In our last teleseminar, we discussed three big ways to earn money with a book or
information product. We discussed the advantages of Strategy #3, which I call the
Investor Strategy. Almost all of you indicated on your program application that
you wanted this kind of strategy. The smart system behind the Investor Strategy is
based upon the meta-system I just discussed: vision, strategy and action.

Lets talk about this meta-system for a couple of minutes, and then well be
getting right into the nitty-gritty of how you can implement the Investor Strategy
to get the life you want.

3:05 Increasing Your Results with a Vision

First, lets talk about vision. I want to emphasize that vision is a very simple, no-
cost way to naturally and dramatically leverage or increase the results you get
from any action. In fact, another mentor of mine called vision, or envisioning,
thinking from the end. He said that it is the process of defining the ultimate
outcome you want for anything. He asserted that it is the utmost, ultimate secret
of life.

To give you a sample of why he called envisioning the utmost, ultimate secret, Id
like to do a little exercise with you. If you have anything in your right hand right

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now, like the telephone or anything else, please put it down or put it in your left
hand, so that your right hand and right arm are entirely free to move.

Take your right hand and arm and reach around your left shoulder and touch your
back, noticing the spot that you are touching for a second. Go ahead and do that
right now. J ust reach around your left shoulder and touch your back, noticing the
spot youre touching. Now, put your arm back down at your side and relax your
arm totally.

Now, I want you to visualize another spot, at least 12 inches farther down your
back than the first place you touched. Visualize that new spot and keep on
visualizing it. As you keep on visualizing it, take your right arm and reach as
close as you can to touching that new spot youre. Notice how much farther
youre able to reach the second time, and how much farther it is than the first
place you touched on your back a minute ago. Of course, the question is Why?
The answer is Because you envisioned it.

In life, whenever you have a specific, definite vision, your entire being
consciously and unconsciously will strive to fulfill whatever it is that you
envisioned. Thats why my first mentor called envisioning the utmost, ultimate
secret in life.

For instance, there is a well-know 20-year old study that was done at Harvard
University back a couple of decades ago. Before graduation one year, Harvard
surveyed their upcoming graduates, and found that 3% of them had written
financial goals defining the financial results they wanted to achieve during their
lifetime.

Obviously, 3% isnt very many people. Whats interesting is that after 20 years,
Harvard contacted everybody that was in the study. What they found is, for the
meager 3% that had the financial goals, their net worth actually exceeded the net
worth of the entire remaining 97% of the people in the study.

In the same way, if you want to get the greatest results from your information
publishing, the first step is to determine your vision; in other words, the end result
that you honestly want it to achieve. Once you do, if you keep it in mind, your
entire being will strive to achieve it, consciously and unconsciously.

Well discuss this more in the future. But for the sake of this teleseminar and the
planning youre doing, I wanted to give you two questions Ive found that are
excellent shortcuts to help you identify what you honestly want to envision for
your professional and personal life.

As many of you know, the world-renowned management guru, Brian Tracy, is
one of my publishing clients. Brians a wonderful and wise man, and personally,
Ive learned a tremendous amount from him over the years. One of the things Ive

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learned from Brian I want to pass along to you right now. Its a wonderful
question I want you to ask yourself to identify your true long-term vision or goal.
Dont worry about writing this question down because its already listed in your
system planner, which Im going to give you as we get a little further along in the
session.

Heres the question that youre going to see on the planner and that ultimately Id
like you to answer as an assignment. If you had all the time, money, resources,
contacts, and everything you need, and you want to design your life and business
perfectly, what would it look like ten years from now?

Id like you to really think about that question and answer it honestly, and as fully
as you can. The reason is that Im going to suggest that whatever book or
information product you develop as a result of this program ought to be developed
so it helps you in some specific way to achieve your answer to that question, that
end result, that long-term goal ten years from now.

Heres another question that will help you determine your vision, the end result
you want to achieve. Its a question I learned from my good friend and mentor,
Dan Sullivan, in Canada. Its a great question to help you determine where you
want to be, not ten years from now, but just three years from now. Id consider
three years to be an intermediate-term goal. This question is also described in
your system planner, which Im going to give you in just a few minutes. So, you
dont have to worry about writing it down right now.

Heres the question that youll be given as an assignment: If we were having this
conversation three years from today, and you were looking back from that date to
now, what has to have happened in terms of your personal and business progress
for you to feel happy with your progress? Again, Id like you to answer that
question honestly.

Notice that it says what has to have happened in terms of your personal and
business life for you to feel happy with your progress? Im asking about what
things will honestly make you happy three years from now. So, please do think
about that as you do the assignment, and describe it me.

3:06 Accomplish More Using the Right Strategy CD Track 3

If you want to accomplish more and more by doing less and less, having a clear
vision is the first step. But, its not the only key. Another big key to
accomplishing more and more by doing less and less is strategy. There are many
definitions of strategy. To keep it simple, for now lets just say strategy is how
you achieve what you envisioned.

For instance, imagine three people who live in New York City, and decide they
want a better life. They decide they want to move to San Francisco, because it has

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one of the most ideal climates in the world. So, San Francisco is their ultimate
outcome. Now, none of these three gentlemen happens to own a car, so they
decide to walk. They all put enough money in their pockets to pay for motels and
food for the trip, and they all start out together walking.

After a few miles, one of them spies a store in the distance that sells maps, and
talks to the two others about taking a minor detour and stopping there. One of the
three people is very execution-oriented, very action-oriented. He doesnt want to
waste time stopping and talking. He wants to get going and make it happen. So,
he refuses, and keeps walking. He knows that the sun sets in the west, so he
figures he can just let the sun guide him everyday, and it will just happen. He
starts walking the 3,000 miles.

In his case, his vision, his focus, his end result is San Francisco, even though he
doesnt know exactly where it is, and his strategy is to walk eight hours a day,
staying in hotels every night. He wants to get there in 200 days, which is about
seven months. He gets confused and sidetracked many times along the way. He
ends up running out of money, because he never really planned it very well. He
ends up in Kansas City, which is a very different place than the San Francisco that
he dreamed of.

Meanwhile, back in New York City, the second and third people have stopped to
buy a map. The store sells roadmaps, and the shopkeeper has been to San
Francisco many times, so he helps them chart the shortest route on the roadmap.
This gives the second person a great idea. He decides to rent a car and drive the
3,000 miles, taking the shortest route identified by the shopkeeper.

Now, he has a much clearer vision than the first gentleman, and he has a much
better strategy. Driving eight hours a day, he gets there in about seven days. His
total expenses for the trip are much different than the first person, the execution-
oriented person that just took off and started putting himself in action. Moreover,
he starts living his new lifestyle, starting with the second week of his experience.

Why did he get these benefits? It was because he adopted a better strategy. He got
a roadmap, and he rented a car and drove, rather than just executing or taking
action and walking.

The third person has heard the shopkeeper say he has taken the trip to San
Francisco many times. Hes a thoughtful person, so he gets a map, too, but he
decides hell tap the shopkeepers experience. So he asks the shopkeeper to share
his experience, to be his mentor if you will, and tell him what the smartest way is
to get to San Francisco, since the shopkeeper has done it so many times.

The shopkeeper surprises him, suggesting something he had never considered.
The shopkeeper suggests that he just take a plane. The third person invests in a
plane flight. He arrives in San Francisco in less than seven hours, much less than

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the seven days that it takes the fellow with the rental car, and exponentially faster
than the seven months that it took the execution-oriented first guy to run out of
money in Kansas City.

The third person was wise enough to let the shopkeeper serve as his mentor. He
adopted the smart system his mentor had learned over his years of experience of
traveling to San Francisco so many times. Therefore, the third person does it all at
a fraction of the price paid by the other two people. He starts living his dreamed-
of new life in San Francisco starting with the second day of his experience, not
the second week, or the seventh month. By the way, because of his smart strategy,
he has seven months of money left, which he uses as a nest egg to bankroll his
new and better life in San Francisco.

Of course, this little story illustrates how vision and strategy actually increase the
results you get for each unit of action or execution you put out. Execution itself is
pretty neutral. Execution without vision and strategy is ignorant. Now, by
ignorant, I dont mean its stupid. I just mean its ignorant or without knowledge.

3:07 The Key to Effective Execution CD Track 4

A lot of people have read the testimonials on my website, and they wondered how
Ive helped all those professionals, experts and entrepreneurs get such significant,
tangible results. The answer is that I teach my clients how to do more and more
by doing less and less. I teach them leverage, working smart. I teach combinations
of vision, strategy and execution in almost everything I teach my clients, and most
importantly, you, because you are the person I am talking with and helping right
now.

3:08 Which System Gives You Greater Results

Lets apply strategy to your authorship of books and information products. In our
last teleseminar, I taught you the three big strategies to earn money with books
and information products: the Writers Strategy, the Marketing Strategy and the
Investors Strategy. We discussed in some detail why the Investors Strategy
honors your God-given gift, your distinctive expertise, in an unsurpassed way.

I said the Investors Strategy includes everything in the second strategy, The
Marketing Strategy, but it also uses a smarter system, one that can give you much
greater results. In other words, its like flying compared to driving or walking. It
can give you significantly greater results in less time because it is a smarter
system. That smarter system is based upon several key business principles for
independent professionals and experts.

You should really think about the four things that Im about to tell you. First of
all, you can earn more money from marketing products than from marketing
hours. Almost all independent professionals envision marketing their time. But,

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even if you charge very high fees for your time, there are just eight to ten hours in
most peoples work day, and then you are maxed out. Whenever you take time
off, you make nothing.

If you turn your expertise into a product, it can be duplicated almost endlessly and
marketed around the clock, earning money for you while you sleep, or are on
vacation. For instance, one of the publishing experts on my team is Dan Pointer.
Ive brought him in as a consultant on my publishing products for more than 15
years.

A while ago, we were talking about management guru Brian Tracy, my publishing
client, and Dan brought up how Brian charges more than $15,000 per presentation
as a professional speaker, which is obviously great money for 60 to 90 minutes.
However, these talks require a lot of prep time and travel time. Therefore, Brian
has adopted what I call the Investors Strategy. Hes turned his expertise into
book content, and then into audio learning programs, multi-media programs,
mentoring programs, and so on. Dan said Brians goal is to develop a twenty-to-
one ratio of product to speaking, or 95% product to 5% hours.

Thats a great example of how to take advantage of this principle. By the way,
Ive since seen this information about Brian published in one of Dans books, so I
know Im not violating his privacy or any trade secrets by sharing those secrets by
sharing those numbers with you. So, you can earn more income from marketing
products than hours.

Second, another principle the Investors Strategy smart system is based on is that
you can earn more income from marketing information about a product or service
than you can from the product or service. Good information is extremely
powerful, so people will gladly pay significant amounts because of its value and
the benefits it will deliver.

Yet, in todays digital world, the cost to create, duplicate and disseminate it gets
lower and lower year by year. For the typical information product, there is a very
high profit margin, say 50% to 90%, compared to physical products and services.
A third principle behind the Investors Strategy is that books are an excellent
information product to start off with, if youre an independent professional who
seeks to become a recognized expert in your field.

Of course, there are many reasons why. Technological innovations have made
books today fast, cheap and easy to create. There are time-tested systems to
author them in 90 days or less. Three thousand years of history have made a book
the ultimate symbol of expertise, so it can set you apart from everyone else in
your field. If it is developed right, a book can be your ultimate lead generator, the
most powerful marketing tool you can ever have.

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For example, its more effective as a lead generator than articles, e-books, or
speeches. A book is your ticket to free media publicity that money could never
buy. The return on your investment from new clients that your book attracts to
you, year by year, can be huge.

A fourth principle behind the Investors Strategy that allows you to get
significantly greater results in less time is that it honors your God-given gifts as
the valuable assets they are. Its getting your knowledge down, one time, into a
book first, if you use the deductive approach. Then, using todays inexpensive
technologies, it quickly and easily recycles your knowledge into a variety of
information products and programs that can allow you to reach many more people
with your message than you otherwise could. In return, it can generate multiple
streams of long-term income.

Heres a quick example of what Im saying. Coaching today is a field like
consulting and many other fields, in that the number of coaches continually
continues to grow noticeably year after year. Because most coaches dont know
how to differentiate themselves from the other professionals in their field, more
and more coaches are struggling to earn the income that they want.

On the other hand, my friend Dan Sullivan, of the Strategic Coach in Toronto,
Canada, a fabulous coach I worked with for three years, is doing very well. The
latest I heard is Dan is doing a reported $25 million in annual revenues. He takes
off about one third of each year as free time. How does he do it? He does it by
honoring his God-given gifts as the valuable assets they are, leveraging them to
benefit many more people than he could have otherwise through the Investors
Strategy.

Dans not the only one. The leaders in almost every field are doing it. The yoga
teacher, Bikram Choudhury, helps many more people this way and he earns a
reported $7 million annually. Then, there are independent professionals who have
become international leaders and are helping people internationally through many
of the time-tested information products that Ill be sharing with you in a minute.
They are earning a whole lot more.

Dr. Deepak Chopra earns a reported $70 million annually. Anthony Robbins
reported $90 million annually. Theyre all using this type of strategy to leverage
their expertise to help many more people. In other words, they chose to fly, rather
than to drive or walk into the ultimate outcome they want, the vision of their
optimum future.

Ive reviewed in depth all the applications that you and everyone in the program
have submitted. Virtually everyone said their goal was to develop a book, as well
as information products. In other words, virtually everyone has said that they are
interested in strategy number three, what I call the Investors Strategy.

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3:09 Step 1 Know What You Want CD Track 5

Pull up the document piece, the planner that Ive developed for you. You can find
this on our website at www.missionmarketingmentors.com/planner1.pdf.

Im going take you through everything, step-by-step. Step One is to know what
you want. In the Investors Strategy for developing books and information
products, thats the first step. Although there are many components of this step, in
this program we will concentrate on the most essential ones. I plan to teach the
more advanced components in the future.

Of all the essential components, knowing what you want, and knowing your
vision and goals is a top priority, because envisioning is the utmost, ultimate
secret, as I explained at the beginning tonight. What you envision, your entire
being will consciously and unconsciously strive to fulfill. At this point in the
program to determine your vision, Im asking you to answer the two questions I
posed to you earlier. These are on page one of your planner.

Between now and the next session, please take as much time as is feasible for
you, and answer both questions as completely and honestly as you can. To
determine if you are on track, notice how you feel as youre answering these
questions. Your answers should fill you with energy and make you feel great. If
they dont, youre probably not being honest with yourself about what you really
want. If so, revise your goals, your vision of the future that you want to create,
until you really feel great about them. Thats when you know youre on track.

3:10 Leverage Your 55 Information Publishing Options CD Track 6

Another component of step one is to know your information publishing options.
Once youve answered the two questions I gave you and have identified the
personal and professional life that you want to be living three years from now,
then you can ask yourself how many information products and programs youd
like to have working for you in the next three years as building blocks of the
future you want. Thats on page two of your planner.

Youve heard me say before that we here at Mission Publishing track at least 81
different information products and programs that experts are using successfully in
the world today. In this session, Im going to be starting by reviewing with you
about 55 of the most widely used and time-tested information products and
programs. Im going to describe each of these products and programs.

First of all, there are books. You can self-publish a book. You can go after a
traditional publisher to do it for you. You can hire a book packaging firm to create
one for you, or you can self-publish initially, and then flip it to a traditional
publisher after your book has initial success.

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You can turn your book content easily and quickly into an e-book, and market it
either before or after you publish your regular book. Its easy to do this. There are
also audio books. You or someone else can read your book and turn it into an
audio product your target market can benefit from when theyre driving or doing
chores or whatever.

There are booklets and mini-books. Here, you bundle a small percentage of your
content into a miniature book that companies and organizations purchase from
you in quantity, and use as high perceived value premiums to help sell their
offers. There are workbooks. These are often created as stand alone products that
serve as training tools. A lot of times, you can easily turn your internal forms and
documents into a high perceived value workbook.

There are reference books. Here you compile public facts or other existing
resources into a helpful product that a target market finds valuable. There are
single audio cassettes or CDs. These are used either as products you sell or as
marketing tools or both. There are audio learning programs. These are more than
one CD, usually packaged in a clamshell, which has a vinyl audio album on it.

There are downloadable digital audio and document products. These are digitally
recorded and delivered as one media, which you listen to, and the other, which
you read. These are easy to do, useful to your target market, and very high
margin. There are subscription audio series. This are where people subscribe for a
fee and you deliver audios as a CD or as a WAV file, maybe with transcripts or
printed material that you deliver typically on a monthly basis.

Another product you can offer is video training. This is an easy way to take the
same content as an audio product and deliver it at a higher price, because video
training typically sells at a higher price than an audio product. There are multi-
media programs. This is where you bundle your audio product with a transcript or
printed material, and maybe a video version of the audio program, all bundled
into one program.

There are CD-Rom and DVD trainings. Because CD-Rom and DVDs are more
sophisticated technologies, they provide features and benefits of training tools that
typical audio and video cannot provide. Home study programs are multi-media
programs that are developed as a complete system in a box. Since they are
marketed as a system, they sell for more than multi-media programs.

Another product to consider is a professional education program. This is where
you provide your expertise in adult education programs or industry groups to
professionals or others who purchase them to earn continuing education credits,
also known as CEUs. There are web-centered distance education programs. This
is where you create longer-term courses and deliver them online, sometimes
supplemented by periodic in-person sessions.

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You may consider doing keynote speaking engagements. Here you would deliver
your expertise, motivation or inspiration to hundreds or thousands from the
platform. There are breakout sessions, where you deliver content and attract new
clients at industry events. There are also speakers bureau programs, in which you
create your own in-house speakers bureau, often through your own speaking
initially. Then, you can earn an additional stream of income by allowing others to
use your resources and benefits.

There are public seminars. This is where you speak at seminars organized by
public seminar organizers and then up-sell attendees into your higher priced
programs. There are teleseminars, which are seminars conducted with groups on
telephone bridge lines. Although these will evolve into webinars over time,
teleseminars will remain their own distinct information product for many years.

There are webinars. These are seminars conducted with groups via the internet
providing a synergy of the visual, audio and email communications. Currently,
these are popular with select niches, such as high-end corporate markets.
Although Im focusing this list on the most time-tested media available, I include
webinars because they are an example of the new media communication that will
continue to emerge year after year.

Another product is the corporate training program. This is where your material is
licensed by others for use on a company-wide basis. There is the Train the Trainer
program. This is teaching others to present your material and use your products. It
could be for the aforementioned corporate training programs, or for something
else.

There are boot camps. These are usually intensive, weekend or week-long
trainings delivered by you and your team of experts. There are also tele-boot
camps. This is the same content as in boot camps, but delivered by telephone
bridge lines over several sessions. Another product is the cruise ship seminar. In
this product, you deliver your content bundled with vacation-like experiences for
your attendees. These are popular with everything from personal growth to high-
end investor market niches.

You may consider offering coaching programs. These are multi-session programs
delivered by you or others under your tutelage. Likewise, there are mentoring and
apprenticeship programs. These offer a combination of one-to-one and group
training to people who become your protges.

There are business building and practice building systems. This is where you
bundle together the business growth tactic tools and processes youve developed
or others have developed for a specific niche of businesses or professional
practices. You do a complete system they buy or license from you.

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Another product is the long-term consulting contract. This is where you take your
consulting and package it into bigger offers to meet a long-term goal for a large
corporation. Its a very high-priced information program you develop for a target
market such as a corporation, a non-profit organization, or government agencies.
For example, one of my colleagues helped self-esteem expert J ack Canfield turn
his consulting into one of these programs that she said sold for $700,000 per
company.

There is also subscription consulting. This is where you provide consulting
packages as a bigger offer, and deliver it, say, on a weekly or monthly basis for a
monthly or annual fee. There is licensing, where you grant the right for your
content, services or products to be used by others under your name or their name,
while maintaining legal ownership and a high degree of control over your content.

You may consider facilitation and certification programs. In contrast to licensing
programs and the high degree of control they give over your content, facilitation
and certification programs are less rigorous strategies you can use to sell your
process or system to many other practitioners.

There are weekend retreats, which were originally used a lot by self-help or
personal growth experts. They are designed to deliver their content and create a
transformational experience for the attendees during the weekend. Nowadays,
high-paying niches, like C-level executives, use them under sometimes different,
more sophisticated names, but theyre basically weekend retreats.

There are newsletters, where you develop your content and deliver it in printed
form for a fee. There are ezines and e-newsletters. These are digital versions of a
newsletter, basically, delivered weekly, semi-weekly or monthly, often for free,
but sometimes for a fee. There are special reports or white papers. This is where
you take your content on a specialized business topic and deliver it in a high
perceived-value format for a high price.

There are syndicated columns. This is where your content is delivered by a
syndicator, as an on-going series of articles and periodicals that reach your target
market, and you get paid for it. There are television and radio shows. Obviously,
these can be in many forms. They can be short segments, specialized individual
shows, or syndicated series.

For example, the Chicken Soup book series has been turned into its own
marvelous syndicated TV series thats running on the Wisdom Channel. I hope
youll pick it up sometime; its really pretty interesting. As cable, Internet and
other technologies continue to increase the number of radio and television
channels, the opportunities to have your own radio and TV show continue to
increase.

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Then, there are private label newspapers, magazines and newsletters. These can
be done in one of two ways. The first way is for you to act as the publisher, create
a magazine or newsletter that others get the right to private label and market. The
second way is where you license the right to private label a magazine, newspaper
or newsletter someone else publishes for your use.

There is also ghost writing and co-authoring. This is where you write for others
for a deal that includes either you getting cover credit or the client getting cover
credit. There are many variations of this. There are pre-sold book programs. Here
you make it easy for individuals or corporations to get their own book by writing
or printing one for them using a system where they pay you in advance of the
whole project.

There are branded retail products. This is where you license your name or logo for
use on all sorts of hard and soft goods produced for consumers. Again, the
Chicken Soup folks are a great example of folks who are using this tactic. There is
selling your intellectual property rights. This is where you sell the rights to, say
your book, to another party for a specific use. This includes foreign, serial,
broadcast, syndication and derivative rights.

For example, common uses could include selling the rights to publish your book
to a publisher on another continent, or selling the rights to publish your book as an
audio book to an audio book publisher. Then, there is the other side of the table,
which is acquiring rights. Here youre on the other side, and youre buying the
rights to use and profit from other peoples content and products.

Then, there are media expert contracts. Here, you provide your expertise to media
organizations who broadcast its content in return for short-term and long-term
fees to you. There are spokesperson contracts. Here you provide your expertise to
companies who use it to promote and sell their products and services and pay you
short-term and long-term fees in return.

There is software. This is where you turn your own expertise, forms and
processes, or others forms and processes, into off the shelf applications that
hundreds, thousands or millions in a target market can use and benefit from. Then,
there are trade shows and conventions. Here you rent space, typically for a
weekend or maybe a week, and you hold an event for a lucrative industry or
profession. You make money from selling booth space and workshops.

Then, there are trade associations. This is where you target a lucrative niche or
profession, especially a growing or hot, emerging one. You can bundle together
such things as a newsletter, online forum, seminars and conferences into a trade
association. This is something that you can sell as a subscription membership
program to people in that niche in exchange for short-term and long-term income
streams to you.

14
There are membership websites. This is where you target a lucrative niche of
people with a common interest theyre passionate about and very committed to.
You can sell a subscription membership program to them that provides exclusive
access to a website where they can get high perceived value information about
their passion.

Then, there are finder and agent programs. This is where you introduce others or
represent others, and earn a percentage or a stream of income in return. There are
custom products for fundraisers. This is where you bundle your content into
information products that non-profits use to raise funds. Every donation of, say
$150 gets, for example your audio learning program as a free bonus.

In return, you get a fixed price for every program distributed to the donors, as
well as a ton of great publicity and names on the list, if you do it right. A great
example of this is the financial guru Suze Orman. She used this one particular
tactic to catapult herself to become an internationally know celebrity.

There are philanthropic trusts and foundations. These are more sophisticated
strategies to fund getting your cause out to the world, and there are a number of
variations where you can use non-profit trusts and corporations as well as
foundations to do that.

Now, you have an overview of 55 of the more basic information publishing
options. To decide which information products and programs you want to develop
in order to leverage your expertise, step one includes a couple of other tasks. For
instance, its usually a great idea to decide in advance which of the three or four
income streams you want to develop. The reason this is an important initial step is
different information products produce income in different ways.

3:11 Four Ways to Create an Income Stream CD Track 7

Id like to discuss with you four different kinds of income streams that you want
to develop. Often, we talk about the concept of multiple streams of income. What
most people dont realize is that different information products and program
strategies create different kinds of streams of income. There are different ways to
understand this, but initially, I like to teach my clients to think about them in four
or five different categories. Why dont we take a couple of minutes and look at
them that way?

3:12 Immediate Income, Bring in Cash Now

The first type of income stream that some information products and programs
create is what I call immediate income. This is where you create your information
product, market it and bring in a sizeable amount of cash quickly. Let me give
you a couple of examples of this.

15
First of all, a book thats developed and used right so it attracts clients is a great
example of immediate income. For instance, in my last publishing and marketing
mentoring program, members reported earning as much as $92,000 in extra
income within only 30 days after their books were printed. Thats immediate
income.

How do they do it? First, they develop books that included the dozen or so
elements that are usually necessary to turn a book into a client magnet. Of course,
Ill be teaching you those also in this program. Second, they practice the tactics
outlined in series three of your complete home study course. Its aptly named 27
Simple Ways to Use Your Book to Attract More and Better Clients. Its available
in the Publishing and Marketing Tools and Resources section of the Members-
Only Web site. These tactics focus on using your book to attract more and better
clients, and thats where the immediate money is initially for many of you.

Its common for many independent professionals to earn from $5,000 to $50,000
during their first year with a new client. Many of you earn much more than that. If
your book helps you attract clients every year that you otherwise wouldnt have
had, it could add up to a sizeable amount of extra cash.

In addition, because of its high perceived value and cachet, a book is a superb
front-end marketing piece to promote and accelerate the income received from
any of the rest of the 55 information products and programs Ive just gone through
with you.

Speaking and selling your information products at the back of the room is also an
excellent and classic example of immediate income. I know many speakers who
may get paid their speakers fee, or may even do the talk for free, but their focus
is on motivating attendees to buy information products at the back of the room,
and theyre good at it. They may bring home $50,000 to $100,000 in revenue
from a single talk.

Another example of this is any type of prepaid information program. For example,
many business building programs are prepaid, because you want the participants
to put their cash on the line in advance so theyre fully motivated to participate
and get the maximum value out of it. Also, specialty publishers often work this
way.

I have an associate who publishes books for everything from network marketing
companies to niche groups of professionals such as groups of chiropractors. She
sells the book project, they write her a check for the whole thing in advance, and
then she has other people create the whole book. A ghostwriter writes it and her
designer and printer produce it. There can be great profit in this because its a
valuable service.

16
The advantage of this first stream of income, immediate income, is obviously that
you have a lot of immediate cash, and thats great. The disadvantage of it, though,
is that its typically a one-time result. There is no long-term stream of income
from it. One way you can handle that disadvantage is to turn your expertise into
other types of information products and programs to fit some of the other
categories Im about to discuss with you. You dont put all your eggs in one
basket this way.

3:13 Residual Income, Work Now and Earn More Later CD Track 8

The second type of income stream is often called residual income. Residual
income basically means you do the work one time, and the income comes in
relatively automatically for a long time after that. For instance, a great way to
create residual income streams is with continuity offers. Continuity offers are
where you sell the offer one time and your client or customer pays you monthly
for it, month after month.

Continuity programs have gained popularity because theyre a high perceived
value, but a low perceived cost. People pay a relatively small fee, which is
painless to them since the payments are done automatically by a credit card. Once
they get started, its painless for them to continue month after month. And its sort
of an annuity for you.

In terms of information products, a great residual income example of a continuity
offer would include subscription audio series. We discussed those just a couple of
minutes ago. People subscribe for anywhere from $29 a month to $197 a month,
depending on your target market, and you deliver audio, say in a WAV file with a
downloadable transcript, or maybe a CD you send them every month.

Another example on the higher end would be subscription consulting. Here you
provide consulting to a niche, and they subscribe and pay you on a monthly basis.
For example, I know a woman who provides subscription marketing consulting to
oral surgeons. Shes developed a series of advertisements and other marketing
materials designed as a year by year program and sells it for about $2000 a month
for as long as they subscribe.

Another example of this would be ongoing coaching programs. The advantage of
these programs is that you sell them once, and the money comes in to you month
after month. The disadvantage of these programs is that you have to focus on the
retention rate, or in other words, how many months people will stay with you
before they cancel. The way you handle this disadvantage is to use various tactics.

For instance, one tactic is to structure your subscription offer so its not an annual
offer, but is ongoing. It used to be that folks would sell their subscription audio
series or subscription consulting as a one year program. Nowadays, its month to

17
month, and as long as its a good program, people tend to stay in much longer
than a year. There are other things you can do, too.

Besides continuity offers, there are also information products and programs that
create bigger ticket and usually longer-term streams of residual income. The keys
to most of these bigger ticket streams of residual income is that they are based on
turning your expertise into a definite system that has high perceived value to your
potential customer. The other key to these bigger ticket streams of residual
income often is targeting a more lucrative target market niche.

Examples of these bigger ticket residual streams would be licensing deals.
Licensing, as you may know, is a contractual method where you transfer the
rights to use your intellectual property to a third party without transferring
ownership to them. It allows you to maintain a lot of control, as I said before.
There are also spokesperson contracts. These are another of the bigger ticket
streams of residual income.

Once youre a recognized expert in your field, your name might be worth enough
that companies will pay you to endorse their product and return a long-term
stream of income. For instance, I heard that the relationship expert J ohn Gray
recently became a spokesperson for a network marketing company that I think
offers innovative nutritional supplements.

Then, there are corporate consulting contracts. These can be very big, long-term
income streams. Recently, I heard of a deal that a well-known expert in
psychology did with a large corporation, and that deal apparently locked in more
than $500,000 a year to that expert for a series of years. Hes going to be
providing some personal service, but apparently most of it is providing his
proprietary assessment and training tools bundled into an information program.
So, its residual income.

An advantage of this third type of income is that it creates streams of big money
to you. The disadvantage is that these streams of income have longer lead times to
develop.

3:14 Earn Money From Other Peoples Efforts CD Track 9

A third type of income stream that some information products and programs can
create is what I call OPE, or other peoples efforts. This is income made by
other people for you. Publishing deals would be an example of this. Here you sign
with a publisher, they publish your works, and you get a royalty. Affiliate
programs are another good example. Distribution deals are another example. J oint
venture deals are a great example of this.

An advantage of this type of income stream is that other people do the work for
you. The disadvantage is that you dont have the control over the other people that

18
you do over yourself. So, the antidote to this is to learn how to qualify the people
before you ink a deal with them. Also, maintain good communications and good
relationships all throughout the process.

3:15 Profiting from Selling All or Part of Your Business CD Track 10

The fourth and last type of income stream that Im going to be discussing with
you in this session comes from creating and selling your business itself, or from
selling parts of your business. You should think about how to take your
professional service business and systematize it.

In other words, systematize it so it becomes a system made up of your systems.
Not only does this spin off increasingly predictable streams of income to you,
year by year, but it does so in such a way that it gives you the free time you want,
too. It is also saleable in the end.

Mergers and acquisitions of small businesses are very hot activity. You could do
it with a professional service business if you do it right. A big key here is to use
the same process that Ive already begun to teach you. Find out what a related
target market of business purchasers want and have a history of buying, and then
build your business to fulfill that, and itll be saleable.

Law firms, accounting firms, consulting firms and publishing companies are
purchased regularly. You have to systematize your business so it can run without
you in particular. This is something I definitely recommend you consider doing
and starting right now.

For instance, an associate of mine is working with an independent professional
who is a tax preparer. He is an accountant, not a CPA, but a good, solid tax
preparer. His little tax preparation business has a few employees, and its just
been approached by H & R Block for acquisition. The numbers theyre talking
about are significant.

Another key here is to understand the value of systematizing every important part
of your business. Any business system that makes money for your business, or
saves money for your business without you personally having to be involved is an
asset of your business.

Its valuable in at least two ways. That system can make or save your business
money without you personally being involved, then you can delegate it to
someone else. That means your business can profitably grow through other
people.

What does that mean? That means free time for you. My friends, this is the big
secret to growing a business while creating more free time for yourself. In

19
addition, any system that makes or saves your business money without you
having to be personally involved is saleable to someone else.

That can include everything from your newsletter to your whole business. Others
are willing to buy it or pay you money for it, because that system has proven to
make money or save money without you personally having to be involved. So, it
is an asset.

Once youve decided which of the four types of income streams you need and
want to develop, you may want to create some financial projections based on your
decisions. In the planner Im giving you, you dont have to get really complex
with it right now.

Im suggesting that in each of these four areas, you find the types of income
streams you want, and you quantify to the best of your ability the amounts of
income you want. Later, when you start really implementing all of this, I strongly
suggest that you get Microsoft Excel and learn it, or hire a bookkeeper or CPA to
do real financial projections.

3:16 Problems You Can Solve That People Want to Pay CD Track 11

Then, theres one more basic component that I suggest you do at this point. It is to
identify problems that you can solve and aspirations you can help others attain
that others have been willing to pay you for over the years. Thats on page three
of your planner.

How to do that is outlined in Teleconference #6 and #8. The link to these
transcripts is in the Table of Contents for this program at the end of the
description for this teleseminar. Its a crucial component of this first step. Thats
why I urge all of you that wanted a quick start to begin doing it. If you havent
done it yet, now is the time to start, because its necessary to complete it before
you can begin step two, which Ill cover in the next session.

In summary, during this session, we discussed the essentials of step one to author
books and information products that can attract a life-long stream of clients and
income for you. I suggest that you use our system planner and begin at least a
draft of each of the items on it. I strongly recommend you devote ample time to
the questions about the life you want within three and ten years, until you really
have identified the life you want.

Of course, this probably will evolve and change over time, but I want to help you
develop a book or information product that will help you create the clients,
income and future that you want. I cant do that unless and until you define your
vision, the ultimate outcomes that you want.

20
Tessa: On the four types of income, are there percentages that people typically follow in
the first three years? For example, 80% could be immediate, and 10% could be
residual. Is there a common pattern?

J ohn: Thats a great question, Tessa. The answer to that is it depends on your financial
situation. Let me see if I can remember an example from my own mind. Which
would you rather have $50,000 in cash quickly, or $100 a day for five years?
What would you say?

Tessa: Right now, Id say $50,000 in the hand.

J ohn: Okay, thats because you would rather have a nice hit of immediate income right
now. There are other people who have all the immediate income they need right
now, and they dont feel like taking in a whole bunch more immediate income,
because that just means more taxes that they have to pay. They might go for the
other answer, $100 a day for five years. Well, that turns out to be $182,500, which
is almost four times as much.

The key with immediate income, in terms of your own financial planning, is to get
as much immediate income as you need to create the lifestyle that you want. Then,
take the additional time and begin investing it into strategies that will give you a
residual income, and in systematizing your business, so you can begin to sell
business systems, or parts or all of your business.

Its very much an individual endeavor. What a lot of people do is theyll allocate
their time, and theyll say Im going to take a certain percentage of my week and
Im going to work on developing a killer book thats a real client magnet, so the
book can help me attract more and better clients.

Ill devote so much of my time to that, because I know if I get an extra five or ten
clients a year from that, thatll give me all the immediate income I need. Beyond
that, Im going to take a percentage of my time and invest it in some type of an
information product or program that I will then use to sell as part of the back
matter of the book.

That way, you are developing a couple of different kinds of income streams in the
way that makes most sense for your own financial planning. Does that answer
your question?

Tessa: Yes, that was a fantastic answer. Thank you very much.

J ohn: Youre welcome. Who else has a question?

Yolanda: Ive got a question. Youve gone through this whole step-by-step process for
publishing a book. Would you recommend, in a course like this, that you focus on

21
one idea and develop that idea, or would you split your time between various
ideas that you have?

J ohn: Thats a great question, Yolanda. Thank you for asking that. For most of us, its
important to focus in on one good project at a time, because most of us are quite
busy. It really does depend on your situation. If you have the flexibility, and you
have the discipline to do a couple of projects at once, you can.

One of the things I taught in that last teleseminar was what I called the deductive
and inductive approach to developing your book or information products. Many of
the people in the program are going to be using the deductive approach, where
you develop your book first, so you focus on that one project.

What Im doing is developing in you the vision and strategy. Thats what this
whole session was about, so that you really understand how you can develop that
one book, and develop it in such a way that it will fulfill the types of income
streams and lifestyle that you want three to ten years from now. Thats a great
way of developing one project, but you know out of that, many more things are
going to come. Does that answer your question, Yolanda?

Yolanda: Okay, that just leads to one other question. The idea that I have has so many legs,
and is such a huge project, that to actually focus on the whole project will create
this fear of not starting the project. Would you take one aspect of it, and develop
that, or would you work on the entire project?

In the last two days, Ive come up with an idea for a project that can actually filter
down into 90% of the information products that youve illustrated. Given the
sheer scope of the project itself, it would take a year to get to the stage of actually
publishing a book. Would you recommend that I take it one step at a time, or
would you put the entire project together and then start developing it into the
various information products?

J ohn: That depends upon you and your situation. Have you ever done big, complex,
comprehensive projects like the one you just mentioned?

Yolanda: Yes.

J ohn: Is it something that youd like to do again?

Yolanda: Definitely, because the market is so huge that you could have seminars, books,
newsletters, the website, the entire lot, which actually ties into that one idea. Tell
you what, Ill put it in an email and you can think about the answer.

J ohn: Great. Ill take one more question.

22
Barbara: The list of 55 products is wonderful. The problem is I can circle about a third of
them, and I think that might be too many. The question has to do with focus. Do
you recommend focusing on just a few of these, rather than a whole bunch of
them because a whole bunch is probably too much? Is there an ideal number?

J ohn: An ideal number is to start with the one that is most pragmatic. One of the things I
do is use something I call the Low-Hanging Fruit Strategy. I take a look at my big
vision and my big strategy. Then, I take a look and say What is the most fruitful,
lowest risk step I can take right now towards that big vision that I have? What is
the most fruitful, low risk way to do that that is aligned with the whole big
vision? I do that first.

Year after year, you can achieve a whole big vision by taking one low-hanging
fruit opportunity after another. That way, you keep yourself in the money, in low-
risk, and you move ahead very pragmatically, one step at a time. Is that helpful,
what I just said to you?

Barbara: Yes, thats useful, because I can still select two-thirds of these, but only focus on
one then.

J ohn: The other thing is that I prepared this step for you. Those of you who were not on
the very beginning of the call, if you missed the first five or ten minutes, you
really should listen to the recording of it, because youve missed the whole point
of this. Even though the stuff at the end was great, theres a big secret I told at the
beginning, and you really deserve to get that, because its the big secret of this
whole program that youre in with me.

Anyway, Barbara, I hope that helps you. I meant to strike a big vision. There are
actually more than these 55 information products and programs. I just felt that it
would be a little overwhelming to go beyond this, so I picked 55 of the most time-
tested products and programs. The thing is, you should really think about these.
You shouldnt make any rash decisions on too many of them.

Most of you folks want to get started and do a book in this program, and thats a
fabulous way to start for most of you for all the reasons weve talked about. Let
the rest of it sort of gel. In the back matter of your book, you can begin to develop
your back matter so it really begins to promote one or two of the other 55 that you
may want to develop.

Test the water and get started with them. Things will change over time. Really, I
think thats the best and lowest risk way to approach all of the possibilities here. Is
that helpful, Barbara?

This was the third teleseminar in The Leading Mentors Publishing and Marketing
Program. Thank you all for attending.

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