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The Retirement Years on Profit Boss® Radio

The Retirement Years on Profit Boss® Radio is a weekly wealth building and retirement mastermind for women and couples. Want the secrets to wealth and retirement to be yours? This is the place. Hosted by Hilary Hendershott, CFP®, MBA, a fiduciary financial advisor running a leading advisory firm, she inspires and empowers listeners on their financial and professional journeys by sharing real stories from real life and real people who are reaching financial success. Let Hilary be your guide as you defy the odds, take control of your money, grow your wealth, and retire well. Hilary’s pragmatic approach to money, no-nonsense attitude, and sophisticated topics combine to create a podcast worthy of its 5-star rating. To learn more about Hilary, read, listen, or watch the show, follow the blog, or to connect directly visit www.hilaryhendershott.com.
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Now displaying: January, 2020
Jan 21, 2020

In this episode, we’re talking about writing and publishing books.

Almost everyone has a book inside of them waiting to be written. You don’t have to be an entrepreneur who wants to spread your message and grow your empire to write a book, either. You could be a doctor looking to share nutritious recipes you’ve crafted for your patients. You could even have a full-time job and a great career, but want to write the Great American Novel to express your creative energy.

No matter what you write about, you’ll ultimately have to choose how you’re going to share your book with the world. At that point, you’ll have to decide between self-publishing or working with an imprint of a publishing house.

I’ve personally been thinking about writing a book for a very long time. I’ve attended a number of conferences, learned what it’s like to self-publish, and taken a $5,000 course on how to publish traditionally. After doing all of this research, I decided not to write a book at the time, but as my business has grown, I’m actually reconsidering.

What I learned from my experience was this: there’s no 100% right way to go. There’s a lot to learn about both methods, and there’s no clear evidence that one is more profitable than the other. What you can clearly understand, however, is how to plan for what writing your book is going to cost you in terms of money and time.

For today’s episode of Profit Boss® Radio, I’m speaking to two experts on this subject.

First, I’m joined by Julie Broad. Julie is an Amazon Overall #1 bestselling author, an International Book Award Winner, and recipient of the Beverly Hills Book Award for Best Sales Book. Through her company, Book Launchers, she helps entrepreneurs and professionals write, publish, and sell business and brand boosting books without giving up their rights or royalties.

After my conversation with Julie, I’m speaking with Joelle Hann. Joelle is the founder of Brooklyn Book Doctor. She’s ghostwritten, collaborated, edited and developed books with top CEOs and humanitarian activists, coaches and journalists, scholars and entrepreneurs, and many others. Joelle also actively writes and publishes her own work, so she knows what it means to be coached and edited. Her signature program, Book Proposal Academy, helps authors write winning book proposals that help them land agents and get attention from traditional publishing houses.

Both Julie and Joelle are also currently available for consulting, and you’re going to hear an exclusive offer from each of them if you’re ready to bring your book into the world.

So, are you ready to hear all about what it’s really like to publish a book, learn from the experts’ big wins, and find out about the mistakes you need to avoid? Then you don’t want to miss this episode. Tune in to Profit Boss® Radio today!

Here’s what you’ll find out in this week’s episode of Profit Boss® Radio:

  • How to approximate the costs of writing a book - and why not to assume it will ever pay for itself.
  • Why authors need to be thinking like marketers regardless of whether or not they partner with a publisher.
  • Why writers who have had success with traditional publishers are now choosing to self-publish.
  • The difference between self-publishing and hybrid self-publishing - and why Julie isn’t a fan of hybrid.
  • How much you can expect to pay for a highly experienced ghost writer.
  • The difference between a developmental editor, a copy editor, and a proofreader - and why you need all three.
  • How the most successful self-published authors are achieving massive sales numbers - and how Julie’s book, after being rejected by a major publisher, generated six figures in revenue and attracted serious interest from future business partners.
  • The biggest mistakes that self-publishers make and how to avoid them.
  • What expenses to budget for in order to meaningfully launch a self-published book.
  • When you should consider working with a traditional publisher.
  • What traditional publishers are looking for - and why you don’t need to be a celebrity to get a book deal, but you do need to have an extra oomph to get readers excited.
  • The step by step process of getting a literary agent - and what to do if it doesn’t go anywhere.
  • Why the era of the six-figure book deal is over - and the hidden costs that can lead you to spending more than your advance when working with traditional publishers.
  • The main reason that books fall apart - and why brainstorming and outlining your book before you write can save you hours, if not months, of frustration.
  • How one of Joelle’s first-time authors ended up in a five-way bidding war for her book.

Show Notes

To get access to the full show notes, including resources mentioned, transcript, and a complete breakdown of the End of Year Wealth Building Checklist, visit HilaryHendershott.com/155.

Follow Hilary on:

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Jan 7, 2020

Today’s topic is one that is very close to my heart. I’ve worked with hundreds of business owners to increase their wealth. It’s something I’m very passionate about, and business financials are invariably intimidating. Honestly, I rarely meet a business owner who feels they have a good grasp on their costs, revenue sources, and profit, let alone what to do about any of that. The worst part is that I see so many business owners languish in “I’m still in ‘investing in my business’ mode” which is always code for “I’m not paying myself enough.” It’s a common, chronic condition that I’m out to cure! 

Business can be the golden road to an amazing lifestyle, but you have to PAY YOURSELF in order to accomplish that. Otherwise, you’ve simply built yourself a job.

So, let’s get to work decoding your business numbers.  

In today’s episode, we’re digging into how to measure financial performance for three types of businesses: product businesses, brick-and-mortar businesses, and online businesses. You’ll learn what the most successful business owners I’ve worked with do (and look out for) to meaningfully measure performance, turn a profit, and consistently take home a paycheck. 

If you’ve struggled to measure your success by key performance indicators, or worse, struggled to use key performance indicators that simply didn’t apply, this approach will feel like a breath of fresh air - and can help you figure out exactly what you need to do to achieve smart, sustainable growth. 

Joining me for today’s conversation is Danielle Hayden. After 10 years in the boardroom as a CFO, she’s now the co-owner of Kickstart Accounting Inc, where she helps women get out of overwhelm, stop hiding in the dark, and take home the paychecks they deserve. 

So, are you ready to stop hiding from your financials so you can finally get to know your business, inside and out? Then you don’t want to miss this episode. Tune in to Profit Boss® Radio today!

Here’s what you’ll find out in this week’s episode of Profit Boss® Radio:

  • Why women constantly struggle to pay themselves from their businesses.
  • Why the metrics and KPIs so many business coaches focus on don’t apply.
  • Why failing to understand financials makes it nearly impossible to achieve profitable growth.
  • Examples of great product businesses - and what makes them so good.
  • When owners of product businesses should think about shutting down or considering other avenues.
  • How to evaluate financial underperformance and determine if it’s time to reevaluate a business model.
  • Why being emotionally attached to an unsuccessful business can be financially devastating.
  • The unique metrics that make measuring brick-and-mortar business performance different from that of online businesses.
  • The KPIs I use to understand where to focus my energy and make sure my online service business is growing.
  • How online service businesses can effectively track time - even when they don’t bill clients by the hour.
  • What business owners should be paying themselves, and how payouts should work.
  • How people in their 30s and 40s should save for the future.
  • Why it’s so important to understand your numbers.
  • Why almost every business owner needs custom tools to measure their finances.

Show Notes

To get access to the full show notes, including resources mentioned, transcript, and a complete breakdown of the End of Year Wealth Building Checklist, visit HilaryHendershott.com/154.

Follow Hilary on:

Twitter
LinkedIn
Instagram
Facebook
YouTube

Subscribe to The Retirement Years on Profit Boss® Radio
Apple Podcasts
Overcast
Spotify
Stitcher
Google Podcasts

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