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eBook
Article
Many micro, small and medium businesses are struggling to generate new revenue. This includes Management Consultants. The vast majority of consultants, business owners and managers we speak to are doing what entrepreneur's do so well: getting creative.
Among the things they are trying to get creative with are special offers, bundling products or services, or in the worst case, offering discounts on existing products or services. Ouch! There is no worse way to destroy your brand than give the impression of desperation or weakness.
In talking with them, there is one strong trend that is obvious: consultants, business owners and managers are unaware of the ebook phenomena that exists and how they can leverage it to create new revenue streams or use them as a door opener or new business incentive.
To them we say: Catch the eBook Tsunami!
What is an ebook? An electronic book is a PDF or Word file. It is a collection of information written, edited and published, most often as a "how-to" or "tips" type user guide. There are proprietary tools available that provide content protection and compile the ebook so as to prevent copy/paste and even inhibit printing actions.
You don't need any New York publisher's permission, or any expensive software tools.
The Internet has created huge information marketplaces. That is well chronicled.
Yet there is a massive gap between what some clever individuals have done with ebooks by creating entirely new businesses for themselves (mostly in the "how-to" of marketing of guess what? eBooks!), and the management consultant and their clients as owner or manager of an existing brick and mortar type business.
If you are still experiencing challenges in generating new consulting business during these challenging economic times, use your free time to create ebooks. You become your own manufacturer. After all, you DO have the expertise. You DO know the processes; methods, skills and resources for your clients and most importantly, you DO deliver results they hire you for. Why not offer that for sale and create a new line of business?
It doesn't take a lot of creativity to figure out how a consultant (and any "real" business can take advantage of ebooks.
As a Management Consultant:
1. Write an ebook about your subject expertise incorporating your proven processes, methods or techniques.
2. Write a "special report". This is a collection of from 8 to 20 pages of detailed information, typically on a subject within a subject. The term "special report" gives a sense of urgency.
3. Conduct a research study and publish the results in an ebook or special report. Give your audience a special inside view of market attitudes, best practices or results.
4. Become an analyst and publish your views, insights and projections on your industry / segment in an ebook or a series of "special reports".
5. Become an industry "insider". Share tips and "secrets" that others might find useful and interesting.
Sell your special report or ebook for a fraction of what the actual consulting service would cost, but at a high enough price to create a meaningful revenue stream.
One of the misperceptions that consultants who consider writing an ebook make: that they will impinge or destroy their existing business. This can't be farther from the truth.
Who among us has had the prospective new client who is shy about $225 per hour rate fees? They want to know how many hours it will take you to train the staff on TQM and some quick multiplication by the prospect and you hear the "I'll get back to you" remark. Which they rarely do.
Why not have your ebook at your website ready to sell for a one time price of $225? You know when they do buy and read it they will realize the daunting nature of the tasks ahead of them due to your clear expertise in articulating it in writing. An amazing thing happens: they MAY call you and at least try to negotiate a better deal.
Worst case is you sold an ebook for $225. What if you sold one a day each day of the business week? Not a bad "side" business.
The point is you can reach into new markets with the ebook as a TOOL. You won't cannibalize your consulting work like you fear you might.
In fact, and even more to the point, everyone, including your prospective NEW clients, prefers to have a "try before they buy" option. They want to make sure you know your stuff. At $225 for your ebook, what cheaper way can they find out if you really know your stuff? I often find that my ebooks will do the work of generating NEW business without having to do any selling on my part.
Here's another way for you to help your clients AND grow your business: help your client write their own ebook.
If your clients are in a product business:
1. Consider any of the 5 options above.
2. Co-Author with them a "how-to" special report about purchasing the types of products they feature or make. Focus the ebook on one of these sub-topics only:
a. How certain quality processes and materials affect product longevity.
b. Useful checklists of purchasing criteria readers can use in their buying and evaluation process.
c. Make readers aware of service and support issues.
d. Teach readers how to negotiate contracts that are favorable to them.
e. Give readers the "skinny" on how parts availability may affect operational issues and how they can protect themselves from costly downtime.
3. Once you've written your special report on the 5 above topics, combine them into one ebook. Now you have a 6th product.
4. Create Case Studies of firms who are not connected with your clients company. This technique alone can often lead to opening new doors. By remaining independent of your subject in the case study, you maintain credibility.
5. Conduct interviews with key industry figureheads. Compile the results and produce a special report or ebook around the hot topics of the day and the opinions of industry leaders.
6. Conduct Reviews. You can review everything from industry trade shows, magazines, books, ebooks, audiotapes, seminars, keynote speeches, etc. Give your special "take" on what is important and why, what is NOT important and why, prognosticate and educate. Special reports and ebooks are excellent vehicles for extensive reviews.
The example in the purchasing field is merely one topic. Think about your expertise, the expertise of your clients and find a way to generate mutual win-win scenarios where you can both leverage each other.
Most any expert can do this. The point is your client is the expert in THEIR field, especially if they are profitable. You or your client doesn't have to be the owner or manager. They might be a salty veteran and still remain an individual contributor in your daily job, but who has lots of experience and lessons to teach others.
In all cases, you as the author need to teach your reader. Impart your expertise and give them plenty of it. The idea with special reports and ebooks is to pack the information so that there is little doubt in your reader's mind that you really know your stuff.
While it's important to teach, it is more important to help the reader save time or money, cut costs, grow market share or improve quality.
Now what do you do with your ebooks and special reports? This is the fun part.
Let your imagination run. Here are some ideas:
1. Add them to your website and sell them.
2. Use them as a "free" tool to get the door open for new accounts.
3. Use them as a special bonus for buying one of your products or services.
4. Create a new website and sell them to a narrowly focused market.
5. Offer them as a bonus for signing up for your newsletter.
6. Create bundled combinations of your ebooks and special reports with different price points.
7. Raise your own credibility. Once you publish your special report or ebook, you become more credible. Everyone knows it takes courage to put your opinion and ideas out where the world can see it. As a result, you are not only an expert, but now an author as well.
8. Use them to create a new sideline or career as a speaker in your industry.
9. Use them to justify
a pay raise, promotion or to help land a new position.
10. Use them to GET a job. Nothing impresses prospective employers more than someone who has taken the time, thought and effort to put their experiences, lessons and theories in writing.
Give yourself permission to get creative and another dozen ideas will crop up.
Today more than ever, consultants and their clients are looking for ways to grow their revenue, cut costs and survive. If you have the ability to help people do that, you're missing the eBook Tsunami if you're not already in the water!
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