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C-Level: Acting like the Executive
- 1. C-Level: Acting as the Executive Presented by Cristin Harber
- 2. My Story • NYT and USA Today Bestselling Author of the Titan, Delta, and Only series • Military romance, romantic suspense, new adult • First published five titles in September 2013; sold 20,000 units in October 2013 • Fourteen books released (7 novels, 7 novellas) • First six-figure month was September 2014 (happy anniversary!)
- 6. Strengths • Unique Selling Points • Resources? People? • Writing Speed • Marketing Know How • Pricing Weaknesses • Deadline Pressure • Social Media • Cashflow • Reliability of Market • Not High Concept Opportunities • Market changes • New Markets • Season/ Time of Year • Subsidiary rights Threats • Market demand • Personal/family issues • Burn Out • Changing technology Who are you? What Type of Business Owner Will You Be?
- 11. Forecasting & Data Tracking This example is VERY even by month. What makes your months different? Permafree? New release? New market? New format? History: How to track numbers? How to keep data? What if you have no history?
- 12. Advertising Calendar Based on Forecast
- 13. Budgeting & Profit/Loss Monthly Budget Calculator Monthly income and expenses Budget summary Category Description Amount Category Total Income Amazon.Com Income - Books Income iBooks Income - Aff Links Income Kobo Income - Other Income Nook Nook Income Aff Link D2D Editor Copy Edits Aff Links Covers POD TOTAL INCOME Advertising Facebook Ad Editing Marketing Covers TOTAL EXPENSES PROFIT/LOSS =INCOME - EXPENSES
- 14. At the most basic level, what is your reader worth? Example: Retail Net Book 1 3.99 2.74 Book 2 3.99 2.74 Book 3 4.99 3.25 $12.97 $8.73 How do you measure permafree success? What is the ROI on a Facebook or BookBub ad? • Reader Acquisition Cost = Total Sales and Marketing Cost / Number of New Readers • Measure Success of Loss Leader = New Readers That Month (book 2) / Downloads in a Given Month (book 1)
- 15. Full Price- Month A Full Price- Month B Units Read Thru Net/Unit Royalty Units Read Thru Net/Unit Royalty Book 1 1813 2.74 $4,967.62 914 2.74 $2,504.36 Book 2 1708 95% 2.74 $4,679.92 765 84% 2.74 $2,096.10 Book 3 1652 97% 2.74 $4,526.48 737 96% 2.74 $2,019.38 $14,174.02 $6,619.84 Permafree- Month C Discount Leader- Month D Units Read Thru Net/Unit Royalty Units Read Thru Net/Unit Royalty Book 1 6371 0 $0.00 3742 0.35 $1,309.70 Book 2 2618 41% 2.74 $7,173.32 1609 43% 2.74 $4,408.66 Book 3 1585 61% 2.74 $4,342.90 967 60% 2.74 $2,649.58 $11,516.22 $8,367.94 Pricing Strategies • Month A: discoverability & read thru are high • Month B: discoverability is low, read thru still high • Month C: Permafree, high discovery, lower read thru • Month D: Loss leader, okay discovery, lower read thru
- 17. Where to Focus
- 18. Productivity • Productivity is the measure of what you put out for what you put in • Productivity = output/input • Are you growing? Productivity growth = (current period production time- Previous period production time)/ previous period production time Input Output Producer Input Output Manager
- 19. • How long does it take to write a book? Final word count desired / words per hour 80,000 words / 800 word per hour = 100 hours to complete draft • What is your writing output? How long does it take to finish? If you write 3 hours a day, 5 days a week, you'll be finished in 6.7 weeks 3 hours a day X 800 words per hour = 2400 daily words X 5 = 12000 80,000 / 12,000 = 6.66 weeks
- 20. Urgent & Important Urgent & Not Important Not Urgent & Important Not Urgent & Not Important • Crisis Situations • Deadlines • Daily Word Count • Family Obligations • Monthly Bookkeeping • Social Media Ads • Reader interaction • Library Sales • Translation, Audio • Formatting • Swag • Stock photo • FB marketing group • Social Media Scheduling • Phone calls, emails • Standing appointments Time and Activity Matrix
- 21. Creating a Team & Delegating 80-20 Rule: 80% of your business will be derived from 20% of effort. Figure out that 20% and MAXIMIZE it. Delegating: • What are the 80% activities that equal 20% of income? What are your weaknesses? • Find out who has that as a STRENGTH. • Stock photo search rely on cover designer • Social media ads hire a marketing firm, self-serve help/design • Listening to audio drafts virtual assistant • Payroll, Benefits, Compliance HR company • Categorizing expense line items hire a bookkeeper • FB ad/ blog copy hire a content specialist • Strategize your set up • A team approach • An in person assistant • Virtual assistants by task (social media only, mail outs only) • Specialists (CPA, attorney, publicist) • Distributors (Library sales, ebook, POD)
- 22. Social Media Resources Facebook Ads: https://www.facebook.com/business/resources/ Twitter Ads: https://business.twitter.com Google Adwords: For free support call: 855-290-0341
- 23. Feel free to get a hold of me! Cristin Harber cristin@cristinharber.com www.CristinHarber.com Facebook: /cristinharberauthor Twitter: @CristinHarber