Bo Bennett is the bestselling author of Logically Fallacious and seven other books. He is also an avid entrepreneur and founder of ebookit.com, a company that formats and distributes eBooks, print on demand, and digital audio books.
Bo wrote his first book Year to Success in 2004. Back then the indie publishing landscape wasn’t what it is today. He spent $30,000 to print 3000 hardcover books and another $500 a month to store those books at his printers warehouse. He sold some of those books through a traditional book tour, but he didn’t sell enough copies to make it a viable option going forward. He started looking into self-publishing and different ways of distributing his books. After three years of research (from 2006 to 2009) Bo decided to start his own company helping authors publish their books. That’s how ebookit.com was born.
Our conversation covered several topics including how to tie your nonfiction book into an online course and the importance of pricing an e-book appropriately. Here are some of the takeaways.
- How promotion and self-publishing has changed over the last 12 years.
- How to sell more books at your book signing.
- It’s important to create an individual marketing strategy for every book you write.
- How to create a website with free information that sells your book.
- How to convert your website into a book that won’t have a duplicate information problem on Amazon.
- Nonfiction authors can create an online course that covers the material may have in their book. You can sell this course for a higher price point than you can the e-book, and it also has the added benefit of promoting the e-book.
- Never delete anything. If you delete a chapter from a book put it in a file somewhere. You may be able to repurpose the content later elsewhere.
- The biggest mistake authors can make is submitting a book to online retailers with a crappy cover design. It’s important to have a decent looking cover because book buyers associate the quality of the cover with the quality of the book itself.
- Another mistake authors make is pricing their e-book. Generally speaking you want your e-book to be priced between $2.99 and $9.99. If you price your book under $2.99 you get a smaller percentage of each sale. If you price it over $9.99 you’ll get fewer customers. Between $2.99 and $9.99 is the sweet spot.
- The money/time the equation and how it relates to selling indy books. In order to sell your book you need both money and time. If you don’t have a lot of money you need a lot of time. If you don’t have a lot of time you need a lot of money. It’s best to have at least some of both.
Links and Resources Mentioned in the Interview
Logically Fallacious – Bo Bennett’s book about logical fallacies.
Logically fallacious website – the website that Bo turned into a book.
Year to success – Bo’s first book
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition – the book Tom bought for $70. It looks like you can buy used copies for a little bit less.
www.bobennett.com – Bo’s personal website.
www.ebookit.com – Bo’s service where he and his team will convert to and distribute your e-book to all the major online bookstores.