Ever been on a roller coaster? It’s scary to even see it tumbling down from a height, scarier still to be in it. Most people scream, close their eyes tightly shut, with hands tightly clenched over the support beams till their knuckles are white. Some pray and even wonder at their own wisdom of taking a roller coaster ride.
At the end of it, when it comes to a stop, most agree that it was one hell of an exhilarating ride that they had ever experienced. Similar is a stock market. In the middle of the ride, you’ll find lots of faces drained of their life blood—people who seem to be cursing their luck and the guy who had asked them to invest in the stock market. There are others who are throwing up, many who are crying and some who seem to be enjoying it.
If you were to talk to such people from the investment community, you’ll know that they are worried about the turmoil, but have chosen to keep their faith in the markets. They are in it for the long-term. They have chosen investments carefully and are not bothered about the turmoil that is shaking the world at the very foundations.
If there is one person who deserves a prize for sheer guts, it has to be American investor Warren Buffett. He has infused $5 billion into Goldman Sachs and another $3 billion to GE in the past 15 days. It’s not charity either.
Buffett is acknowledged as one of the savviest investors of our time, maybe of all times. He sniffed out a fabulous bargain. He got preferred stock from these companies that pay him a dividend of 10%, with the option of investing in the common stock to the same extent, within five years at a predetermined price.
It’s a win-win deal he has brokered for it is a vote of confidence on the company. Coming from Buffett, it’s like an investment grade rating or better than that as he is actually putting the money compared to rating agencies’ grades. That’s a good deal, isn’t it? Is there no risk at all here for Buffett?
Of course, there is. These companies are still vulnerable. That is the reason they required the cash infusion in the first place. But with Buffett’s backing , they will have access to more funds and have a shot at becoming healthy again. The price that these companies paid was the fat dividend that they had to fork out—a small price to pay if the alternative was to go belly up.
There are others who are scouring the wreckage of the financial markets to get juicy, valuable chunks. There are many bargains available at this point. But the average investor is so scared that he can see only darkness. The treasures are not visible to him. Savvy individuals invest in such turbulent periods as it presents them an opportunity to make extraordinary profits.
It’s not luck which is on their side. They go in search of luck, meet it in the form of opportunities and take intelligent and calculated risks. Without risks, extraordinary returns are not possible. The risk now may actually be lower than when the stock market was at a high, as the chance of the market correcting was more when the index cruised higher and higher.
But investors were more than willing to come in then. Now, when it’s at 50% of the peak, investors have deserted it. The logic being it may go down. Markets could go down from any point. Higher the point, more are the potential chances. Knowing this, does it not make sense coming in strongly at this point and buy aggressively?
Like Tata Consultancy Services (TCS), which bought Citigroup Global Services and also got with it an outsourcing deal of $2.5 billion over a nineand-half year period. Each one can become a savvy investor at this point in time. You don’t have to be a Warren Buffett and buy up companies.
One just needs to pick up small quantities of shares of fundamentally strong companies now and wait for the market to turn. Most investors are acting like the poor dad from Robert Kiyosaki’s book “Rich dad, poor dadâ€. They are afraid of risks, assailed by fear and ignorance, and don’t have the foresight to take advantage of opportunities and lack the sagacity to take failure in their stride as a learning experience.
Investors need to see this whole turmoil in proper perspective. This is something that started in the US and there is little exposure that we have. There is “collateral damageâ€, of course. Foreign entities are pulling out from the world-over to cover their losses.
Also, they are ironically pulling out from countries like India as the emerging markets are seen as “more riskyâ€, the problem started and has engulfed the advanced economies, principally! India happens to be a domestically driven, investment-led economy.
This augurs well for us. We could continue to grow as long as we the investors have faith in our own economy. We don’t need an outsider to tell us that there is tremendous growth potential in India, irrespective of what is happening elsewhere. Just see the state of infrastructure and you will know there are opportunities aplenty. We need to conquer the fear and invest now to get an asymmetrically high return in future for this effort.
Fear can be looked as a positive factor too. The saying in a soft drink advertisement is: “we are of course afraid. But we will do it… Because Darr ke aage jeetâ€. You need not swill any sugar water. Take the darr ke aage jeet line to your heart and just do it!
(Suresh Sadagopan is Chief Financial Planner, Ladder 7 Financial Advisories)
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Investors need to overcome fear factor
~ Robert Kiyosaki
How did we get into the current financial mess? Great question.
Turmoil in the Making
In 1910, seven men held a secret meeting on Jekyll Island off the coast of Georgia. It’s estimated that those seven men represented one-sixth of the world’s wealth. Six were Americans representing J.P. Morgan, John D. Rockefeller, and the U.S. government. One was a European representing the Rothschilds and Warburgs.
In 1913, the U.S. Federal Reserve Bank was created as a direct result of that secret meeting. Interestingly, the U.S. Federal Reserve Bank isn’t federal, there are no reserves, and it’s not a bank. Those seven men, some American and some European, created this new entity, commonly referred to as the Fed, to take control of the banking system and the money supply of the United States.
In 1944, a meeting in Bretton Woods, N.H., led to the creation of the International Monetary Fund and the World Bank. While the stated purposes for the two new organizations initially sounded admirable, the IMF and the World Bank were created to do to the world what the Federal Reserve Bank does to the United States.
In 1971, President Richard Nixon signed an executive order declaring that the United States no longer had to redeem its paper dollars for gold. With that, the first phase of the takeover of the world banking system and money supply was complete.
In 2008, the world is in economic turmoil. The rich are getting richer, but most people are becoming poorer. Much of this turmoil is directly related to those meetings that took place decades ago. In other words, much of this turmoil is by design.
Power and Domination
Some people say these events are part of a grand conspiracy, and that might well be. Some people say they represent the struggle between capitalists, communists and socialists, and that might be, too.
I personally don’t participate in the debate over a possible global conspiracy; it’s a waste of time. To me, the wider struggle is for power and domination. And while this struggle has done a lot of good — and a lot of bad — I just want to know how to avoid becoming its victim. I see no reason to be a mouse trying to stop a herd of elephants from fighting.
Currently, many people are suffering due to high oil price, the slowdown in the economy, loss of jobs, declines in home values, increased bankruptcies and businesses closings, savings being wiped out, the plummeting stock market, and rising inflation. These realities are all direct results of this financial power struggle, and millions of people are its victims today.
An Extreme Example
I was in South Africa in July of this year. During my television and radio interviews there, I was often asked my opinion on the world economy. Speaking bluntly, I said that South Africans had a better opportunity of comprehending the global turmoil because they’re neighbors to Zimbabwe, a country run by Robert Mugabe.
In my interviews, I said, “What Mugabe has done to Zimbabwe, the Federal Reserve Bank and the IMF are doing to the world.” Obviously, my statements disturbed many of the journalists. I did my best to comfort them and assure them I was not an anarchist. I explained, as best I could, that Zimbabwe was an extreme example of an out of control power struggle.
After they were assured I was only using Zimbabwe to illustrate my point, I said, “If you want to understand the world economy, take a refugee from Zimbabwe to lunch.” I advised them to ask the refugee these questions:
1. How fast did the economy turn?
2. When did you know that you were in financial trouble?
3. When did you finally decide to leave Zimbabwe?
4. If you could do things differently, what would you have done?
Three Approaches to a Crumbling Economy
I spoke to three young couples from Zimbabwe while I was in South Africa. Two couples were recent refugees now living in South Africa, and one couple still lives in Zimbabwe. All three couples had interesting stories to tell.
One couple said that they would have quit their jobs earlier. Instead, they hung on, hoping the economy would change. Then, virtually overnight, the value of the Zimbabwean dollar dropped and inflation went through the roof. Even though they received pay raises, the couple couldn’t survive and soon depleted their savings. They left Zimbabwe by car with almost nothing. If they could’ve done something differently, they told me, they would have started a business in Zimbabwe and began exporting products to South Africa, so that they would have had South African currency and a bank account there before they fled.
The second couple that fled the country said they saved money and paid off their house and other debts even as the Zimbabwean dollar fell in value. Looking back, they say they would’ve saved nothing and gotten deeply in debt in Zimbabwe, allowing them to pay off their debt with the cheaper dollars. Instead, they fled after they lost their jobs, leaving behind their house and owning $200,000 in nearly worthless Zimbabwean dollars.
The third couple still lives in Zimbabwe. When they saw the writing on the wall, they set up a business in South Africa and, with the profits, began acquiring tangible assets in Zimbabwe. Often, they’ll buy an asset in Zimbabwe and pay the seller in South African currency. They believe that once Mugabe is gone and order is restored, they’ll be in a strong financial position.
Many Problems, Few Solutions
There are three major problems with the events of 1913, 1944, and 1971. The first is that the Fed, the World Bank, and the IMF are allowed to create money out of nothing. This is the primary cause of global inflation. Global inflation devalues our work and our savings by raising the prices of necessities.
For example, when gas prices soared, many people said that the price of oil was going up. In reality, the main cause of the high price of oil is the decreasing value of the dollar. The Fed, the World Bank, and the IMF, like Zimbabwe, are mass-producing funny money, thereby increasing prices and devaluing our quality of life.
The second problem is that our economic crises are getting bigger. In the 1970s, the Fed faced and solved million-dollar crises. In the 1980s, it was billion-dollar crises. Today, we have trillion-dollar crises. Unfortunately, these bigger crises mean more funny money entering the system.
Apocalypse Soon
The third problem is that in 1913, the Fed only protected the large commercial banks such as Bank of America. After 1944, the Fed, the World Bank, and the IMF began bailing out Third World nations such as Tanzania and Mexico. Then, in 2008, the Fed began bailing out investment banks such as Bear Sterns, and its role in the Fannie Mae and Freddie Mac debacle is well known. By 2020, the biggest of bailout of all will probably occur: Social Security and Medicare, which will cost at least a $100 trillion.
Even if we find more oil and produce more food, prices will continue to rise because the value of the dollar will continue to decline. The dollar has lost over 90 percent of its value since the Fed was created. The U.S. dollar will continue to decline because of those seven men on Jekyll Island in 1910.
Granted, the funny-money system has done a lot of good — it has improved the world and made a lot of people rich. But it’s also done a lot of bad. I believe somewhere between today and 2020, the system will break. We’re on the eve of financial destruction, and that’s why it’s in gold I trust. I’d rather be a victor than a victim.
Here is the original:
How the Financial Crisis Was Built Into the System
Millions of people have sought Robert Kiyosaki’s advice on investing in real estate. The author of Rich Dad, Poor Dad believes America’s financial dilemma is directly related to the rest of the globe.
” I think the world economy is contracting which is why oil is coming down, gold is coming down, property is coming down all over the world,” said Kiyosaki.
When it comes to investing, Kiyosaki said too many people get their advice from someone trying to sell them something.
“So you’ve really got to be careful who you take financial advice from because ultimately that six inches between your ears is your greatest asset so be careful what you put in there.”
Kiyosaki has made his money in real estate – primarily commercial real estate like apartment buildings. And his decision about what to buy might surprise you.
“Real estate is based upon jobs. If the jobs are good, real estate’s good. If jobs are bad, real estate’s bad – it is that simple.”
Good jobs, he says, indicate economic stability.
“It really has to make basic business sense. So I’m buying real estate, apartment houses in Oklahoma. Why Oklahoma? Oil. That’s the number one reason – it’s a pretty stable economy, oil is always there.”
If you are thinking of investing in real estate, Kiyosaki says there are three important considerations.
“Number one, you have to have good partners, that’s smart partners. Number two you have to have good financing and the sub-prime was bad financing. And three with real estate you have to have good management.”
He also stresses the importance of financial literacy.
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?Rich Dad, Poor Dad? Author gives Investing Advice
- Robert Kiyosaki
People often ask me, “How do you find great investments?” My standard reply is, “You have to train your brain to see them. Great investments are all around you.”
I know that’s not a very satisfying answer. Most people want something more specific and concrete. But my reply is as accurate as possible. If we could’ve seen all the great investments just in the past decade, we’d all be multi-billionaires.
Missing Out on Millions
There have never been more opportunities to become rich than in the last 10 years. And there’ll be even more opportunities in the next 10. Let me explain. Like many investors, I didn’t see the power of eBay almost a decade ago. If I had, I’d be a billionaire today. Nor did I see the power of YouTube, or Google, or MySpace. Being an old guy, my brain isn’t trained to see investing opportunities in cyberspace. So I missed them.
Thirty years ago, when my business career was just starting at Xerox, I was introduced to a new type of computer. I wasn’t tuned into computers at the time, so little did I know that I was looking at the early version of what was to become the Macintosh. So I also missed that billion-dollar opportunity, too. How many billion-dollar opportunities have I missed? Maybe millions.
If I’ve missed so many million- and billion-dollar opportunities, why am I writing articles and speaking worldwide about financial independence? That’s a valid question, and the answer has to do with helping you find great investments.
Perseverance Pays Off
I took my first real estate investment course in 1974 in Honolulu. The cost was $385, and I believe it was two or three days long. Toward the end of the class, the instructor said something I’ve never forgotten: “Now you know the difference between good real estate investments and bad real estate investments. Now you all know what to look for.”
He paused and then added, “The problem is, most people will tell you such investments don’t exist. Your friends will tell you so, and so will real estate agents.” Truer words were never spoken. For the next few months, I went from real estate office to real estate office, looking for investments. As promised, the real estate agents told me what I was looking for didn’t exist. My friends and co-workers at Xerox told me the same thing, and said I was either dreaming or smoking funny cigarettes.
Finally, in a small, obscure real estate office in downtown Waikiki, I met a scruffy little broker who said, “I have what you want.” The next weekend I was on a plane to Maui, where he’d found an entire condominium development that was in foreclosure.
I purchased my first piece of investment real estate for $18,000, putting the $2,000 down payment on my credit card. The one-bedroom/one-bath condo paid me a positive cash flow, even after all the expenses and mortgage payments. My investment career had begun. More important, I was training my brain to see what most people don’t see. That $385 real estate course has made me millions of dollars over the years.
Keep an Open mind
Earlier this year, around tax time, I wrote an article, “Think Rich to Lower Your Taxes.” It was about an investment strategy known as the “velocity of money,” and how I use it to invest, make a lot of money, and then legally use the tax laws to minimize my own taxes. I suspected it would spark some controversy, and it did.
For a couple of weeks, I kept track of responses. Some of the less-complimentary comments reminded me of what those real estate agents and my friends at Xerox said to me back in 1974.
You see, our brains are either our greatest assets or our greatest liabilities. As I said, when it comes to investment opportunities in technology, my brain is a liability; I just don’t get it. When it comes to investment opportunities in real estate, gold, oil, and silver I’m above average, but not great. And that’s because I’ve trained my brain to see opportunities in those areas.
So, instead of criticizing the readers who were close-minded (or even mean-spirited) about my advice, I encourage them to keep an open mind and find their own way of seeing investments most people miss. That’s how you get rich. People who refuse to open their minds to new strategies seldom become rich — which I guess is why there are more critics in the world than rich people.
Finding Your Magic Formula
One of the most important things my rich dad taught me was to never say, “I can’t do it” or “I can’t afford it.” Those thoughts are self-limiting, and it’s hard to find great investments when you’re basing your behavior on limitations. In today’s world, there are more investing opportunities than ever before. Why would anyone want limited financial results in an unlimited world?
One of the reasons I write about financial independence is so I can put forth ideas that challenge the way people think about investing. If you want the same old financial-planning dogma of “work hard, save money, live below your means, get out of debt, and invest in a well-diversified portfolio of mutual funds,” then my philosophies are obviously not for you.
My job is to stimulate your thinking, inform you about why rich people get richer, and encourage you to find the magic financial formula that works for you. I found mine, and I want you to find yours.
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Finding Your Magic Investing Formula
by Brian Feinblum, Planned Television Arts, feinblumb@plannedtvarts.com 212-583-2718
45 Years As The Nation’s Leader in Book Publicity 45 Tips To Get You Started!
Planned Television Arts, the nation’s largest and oldest book promoter, is celebrating our 45th anniversary this month, and in honor of reaching this milestone, we are pleased to offer 45 free tips on what authors need to know about getting published, promoted, and distributed. If you have further questions, please contact PTA’s Chief Marketing Officer, Brian Feinblum, at feinblumb@plannedtvarts.com Please feel free to click onto www.PlannedTVArts.com and download, at no cost, The Million-Dollar Rolodex, a great publishing resource. You can also sign up for our free e-newsletter at the site. Also look for our updated list of new free publishing/PR teleseminars.
1 Time: You don’t need to be a rocket scientist to generate publicity, but you need a lot of time, and your time is best served writing and growing your business—and not tracking down media contact lists, making lots of calls, and trying to learn who to reach, how to reach them, and then what to say once you finally get hold of them. Use a publicist – -it’ll save you time – and a lot of headaches.
2. Affordability: They say never gamble or invest money you can’t afford to part with. The same is true with PR. Don’t dip into a college fund, retirement account or take a loan on the house to pay for publicity. PR and publishing is an experiment — it’s certainly worth trying — just don’t bet the farm on it.
3. Goals: Determine what your goals are and explore how the publicity will help you achieve them. For instance, you need more than a radio tour if the goal is to be a best–seller, but by contrast, you don’t have to be on national TV to sell books, build your brand, create a media resume, get a positive message out there, or to increase Website traffic.
4. Ego The worst reason to do PR is pure ego. Additionally, some people simply expect their book will be an instant best-seller and be featured on The Today Show. Instead, you should do PR because you have a useful book and have a positive message that deserves exposure. The rest will flow from there. Be optimistic, but contain your expectations.
5. Have A Good Book, On A Timely Topic, With Good Credentials
Know your competition and determine why you offer something truly new, different, unique or better. The consumer and the media don’t need more of the same — they need a fresh voice and perspective.
6. You Can Judge A Book By Its Cover, Layout & Title The media is like anyone else — they look at surface things and make quick judgments. Your title should be one that’s short and easy to say — don’t use insider terms that only hold significance for a few. The subtitle should clearly explain what the book is about. As for the layout design of the contents, no one will read small print, hold cheap paper, or stare at dull chunks of text or books that just don’t feel inviting. The media also likes a cover that draws them in. So, appearance counts!
7. Endorsements Only Mean Something If You Don’t Have Them
You should get testimonials from fellow experts and authors on the topic you write on. Go after recognizable names, organizations, schools, etc. Professors, heads of corporations or non-profits, politicians, celebrities- all are fair game. But, once you get them, do not be under the false impression that this alone ensures sales, but do be aware, the media and consumer will notice if no one or only small names endorse the book.
8. Timing Is Key The merits of your book speak for themselves, but if you can also link your book to a story the media would find more interesting and relevant, then do so. If it’s a parenting book, link it to the first day of school, graduations, Mother’s Day, Father’s Day, etc. If it’s a hot topic like politics, link to the upcoming elections, the war in Iraq, or July 4th. Or maybe your book ties into an anniversary of an event or links to an honored day-week-month such as Breast Cancer Awareness Month or Literacy Day, etc.
9. Road Tours The use of road tours is still popular but many people substitute or supplement road tours (physically traveling to other cities) with tours they can do from one location, such as a radio tour by phone, a local TV tour by satellite, or an e-marketing campaign online. It’s a waste of time in most cases for authors to purposely hit the road for a 10-city tour. But if you already plan to be in various cities because of business, or you conduct seminars, or you are there for family matters, then you can seek out piggy back media, where a publicist seeks to get you media in the cities you are in. Just don’t hit the road solely to promote a book tour – with no events or connections to those cities.
10. Hire A Firm vs. A Publicist
PTA is unique in that we performance is tied into our fees. We offer specialized campaigns that are customized to fit the needs, goals and budgets of authors. When a publicist is willing to be invested in the project – not necessarily to get paid based on book sales, but to get compensated based on the number and types of media placements secured — only then will you have a partner in synch with your objectives. Further, a larger firm typically has more depth of knowledge, skills, resources, tools, and media relationships than one-person operations. In the case of one-person PR shops, though some are very good and hard-working, they are often stretched to the limits. They spend more time trying to bring in business than executing it. They have no support to fall back on, where a firm has many people who can step in and assist on a campaign.
11. Watch For Ridiculous Promises Avoid the publicist who says they have an “in” at Oprah. She only covers a few dozen books a year in the course of doing a few hundred shows annually. 175,000 books have been published in the last 12 months. You figure out the odds. That isn’t to say you can’t be on Oprah, it just means don’t put too much stock in empty promises about getting on her show.
12. Money Is Not The Sole Deciding Factor When comparing between choosing a publicity firm don’t let costs be the deciding factor. Sure, have a budget in mind – or some sense of a rate of return on your investment – but you should consider the key factors: what is being promised vs. guaranteed; length of campaign; has the firm promoted many authors in your genre; is it a one-person shop or a larger firm with more resources and media contacts?
13. Know Who Is Working On Your Campaign The person who is doing your outreach is very important. Find out who will actually be conducting your campaign. It usually is NOT the person who is trying to bring you in as a client, nor should it be. A good client manager will stay involved, but the day-to-day media booking is reserved for experienced specialists.
14. Get Good Counseling Part of selecting a publicist means finding a knowledgeable advisor, someone who not only generates media exposure for you but who also can coach you for the news media. He or she should also provide valuable guidance and advice on all things pertaining to marketing and promoting your book, taking both a short-term and long-term approach.
15. Press Kit Writing Is Important Your publicist should write a press kit and generate creative press releases. Typical elements include a press release, biography, Q & A, book excerpts, story angles, side bar material, related statistics/facts, and other materials that will both get the media’s attention and help summarize your book for conducting interviews– and go beyond what’s in the book.
16. Familiarity With Books In Your Field When interviewing a potential publicist for your book ask if they have represented books like yours and if you can see some of the placements they got. Ask for references.
17. Get To Know Bookstores Within 30 Minutes Of You Make friends with your local bookseller(s). They can influence potential customers.
18. Study The Media If you have no media experience, watch and listen to interview programs and critically examine what good interviewees do and how they get across their message. You will want to Balance your publicity efforts – the goal is to get exposure in all media: radio, print, television, and the Internet. First secure local coverage and then spread out to national media.
19. Learn By Listening To Yourself It’s amazing how many people have never seen or heard themselves on tape. So along the same lines, practice your interview skills on videotape and audio tape with a friend questioning you. When conducting an interview your answers should not be longer than 30 seconds. Practice narrowing your comments and message down to smaller sound bites. Always say the interviewer’s name back to them when doing an interview – it sounds personal and friendly.
20. Give Yourself An Online Presence Before you even create a Web site for your book, reserve your personal name and misspelling of your name as a domain name. Then reserve at least 10 potential titles for you book (think of having a series of books). You can reserve names inexpensively at www.rickscheapdomains.com. Remember to build your list (of faithful fans) and have an online newsletter. One way to build your list is to circulate your newsletter or blog through friends and family to their lists of friends and family. Another way is to circulate a freebie – something you give away for free t hat is of value to others and that can serve as your best advertisement for them to keep coming to your site. The free item can be an e-book, an audio speech; or a teleseminar. For your Web site, set up a shopping cart system and a mailing list system. Everyone uses this system — it is the best!) Please consult:
http://cornerstonecart.com/app/default.asp?pr=90&id=101001
21. Do Teleseminars Tape them every week or every other week. You can check out www.plannedtvarts.com for over 50 hrs of free teleseminars. Repurpose those teleseminars into e books or books.
22. Go To As Many Publishing Seminars As You Can. You will not only learn from the speakers, but form fellow attendees. A very good one is the Mega Marketing Publishing seminar put on by the Mark Victor Hansen, co-creator of Chicken Soup for the Soul. It’s happening May 31st. See www.megabookny.com
23. Attend Book Expo! You should attend BEA (the first week in June in NYC this year). It is the big publishing event of the year, where thousands of publishers, authors, literary agents, editors, distributors, and other members of the publishing community gather. Please consult: www.bookexpoamerica.com
24. Consult The Gurus Read publishing expert Dan Poynter’s material — consult www.parapublishing,com Publishers Weekly Is The Book World’s Bible Read it! www.publishersweekly.com Keep Up With The Publishing Industry. See Publishers Lunch at www.publisherslunch.com. Also think about subscribing to www.publishersmarketplace.com. Also consult John Kremer at www.Bookmarket.com
25. Network With The Pros Join Publishers Marketing Association (PMA) or SPAN. Get into a mastermind group of other authors like you. Consult www.bestselleru.com
26. Budget Money Or Time Though you don’t have to hire a PR firm, you do need to set a budget aside to invest in PR. This budget is either of your money (if you hire help) or your time (if you do it alone). PR will pay off with book sales, prestige, boost your career, and position you for future book deals. You are always branding!
27. Build Up Your Media Resume Don’t expect national TV until you do some local media or gather press clippings. You must build up your media resume before you can even begin to think you are deserving of major media. That said, you have to start somewhere. The Internet, radio, and local media are great places to begin.
28. Book Reviews Are Not So Important Though book reviews can be effective, they are not always the best way to go – broad coverage in other parts of the paper – not on the book page — is something worth shooting for. Book reviews are simply much harder to come by these days, given the limited amount of book review space and their biases against self-published authors or small publishers. Op-eds and by-line pieces are a good way to get exposure as well. Coverage off the book page will get a bigger readership. For instance, say you have a diet book. Getting into the health section of your paper is more targeted than being lost in the book section.
29. 15 Seconds Of Fame Be prepared to summarize the highlights of your book in 15 seconds. That’s how long you have to convince someone your book is worth looking at. Whether it’s a consumer, a member of the media, a bookstore manager, or an organization that you want to speak before, be concise. You need a sentence or two to summarize your credentials for writing the book, and then 3 bullet points of what’s in the book and why people should care. Blabbering on won’t sell it – just being concise, creative, and timely will. YOUR 80,000-WORD BOOK NEEDS TO BE A 15-SECOND SOUND BITE Writing a 250-page book is not as hard as reducing all of that to a 15-second sound bite, but that’s exactly what you need to do when promoting and marketing your book. When you meet a stranger or even when you want to explain to a friend what your book is about, you need to do it in a quick and interesting way so that by the end of your description they will want to buy it or ask more questions.
30. Timing Is Important One key to promoting yourself is doing it with a sense of timing. If you want to be featured in a magazine, you have to send a galley of your book to them 3-4 months in advance of the official book’s publication. If you want to visit a city and contact local media, it helps to call them about 4 weeks ahead of your arrival. Once a book has been out for 3-4 months it is deemed “old†by most media.
31. Create Your Own Virtual World Explore how to create your now blog, podcast, or teleseminar by utilizing simple technology. Check out resources for audio and video tools for authors at www.audiovideoforauthors.com. Your book is a tool to get people back to your Web site. And when they get their you must have audio on the site. Get an Audio Generator at http://members.audiogenerator.com/specialinfo.asp?x=551229. You also should have a way to capture their e mail address with an “ethical bribe” and send them newsletters. Have a Shopping Cart System and Mailing List System (http://cornerstonecart.com/app/default.asp?pr=90&id=101001) Once you get them in your ” funnel” – You can sell them more books, e-books, CDs, teleseminars, seminars and your services.
32. Traditional Publishing When considering your options for publishing, think in these terms: If you want a mainstream publisher to publish your book, you’ll need to first get an agent. To get an agent, who takes 15% of your lifetime earnings for that book, you can consult The Literary Marketplace and other books to get a list of agents that represent your type of book. The process of finding an agent and a publisher and then seeing the book finally get into print, could easily be 18 months to two years, from start to finish.
33. Print-On-Demand Or you can go POD – print-on-demand, with companies like www.iuniverse.com. They charge a few hundred dollars – maybe up to a thousand – to get you manuscript set up to be printed as a book. Books are printed one at a time, based on actual orders. You will likely keep about 50-60% of the book’s cover price in this format, though you generally sell less books this way than the other two ways to get published.
34. Self-Publishing Or you can self-publish and print the book on your own. You’ll lay some money out, but you will get to keep all of the money from the sale of each book, as opposed to earning a smaller royalty when someone else publishes you. However, it helps to get a distributor – -a middleman who will sell the book into bookstores and libraries – usually costing you about 25-30% of the net proceeds. Two distributors to explore working with include www.greenleafbookgroup.com and www.midpointtrade.com If you have a series of books for sale, you might also consider larger distributors such as NBN, IPG, and PGW. A list of distributors can be found in the Literary Market Place.
35. Killer PR! One look at the headlines making the news and you would see the best way to make the news is to, unfortunately, commit a crime. So how do you compete with that — as well as all the ink given to celebrities, the weather, sports, terrorism, and the latest movie? The first way to get media coverage is to tie your book’s message to the things that are making news. Can you comment on the latest court case, or media tragedy like Anna Nicole Smith? Well if you’re an expert on paternity, celebrities, law, marriage, or self-destruction, you can get media coverage talking about some aspect of her life or death — even if your book never discusses the case.
36. Predict The News Another way to get media coverage is to anticipate the news. Check your calendar and look to see what holidays are coming up. Memorial Day means war, security, international relations, death, history, etc. Father’s Day means dads, grandfathers, parenting, family, etc. Can you speak on those topics? How about the seasons? Summer means stories about travel, camp, droughts, picnics, West Nile, baseball, etc. Think of how your message ties into a holiday, a season, or an honorary day, week or month (i.e.: February is Black History Month, March is Breast Cancer Awareness Month, April is National Autism Month).
37. Create Your News Make news with the results of your research, surveys, interviews with important people in your book, or the uncovering of hidden facts. Even if your book lacks original earth-shattering news, perhaps you can create a poll of say 500 people on your subject and then report those results. If you can shed light on the newest treatments for a disease or effective parenting strategies or tell us the three smartest ways to save for retirement, people will listen.
38. Keep It New An old book is only promotable when it becomes new again – revise and update your book if it’s older than six months but you want to hire a publicist. Or even better build on the book and create a sequel
39. Raise An Issue Or Ask A Question For instance, declare something interesting or controversial. Should pets be allowed to sue for health care? Should we eliminate the presidency and instead have three co-presidents? Should there be a legal limit on how much someone can weigh? Should people who have cosmetic surgery be forced to disclose this to the people they date?
40. Give The Cliff Notes When you tell someone about your book, the goal really isn’t to become the Monarch or Cliff Notes for them. You don’t want them to know about everything in the book, only something. you want to tease them, whet the appetite and make them drool for more. So less is more here. The second rule is you need to look at the vocabulary selection you use to describe things. Move from the functional to the descriptive. Load up your verbal diet with adjectives and use verbs that have some sound effects. Don’t merely say your book is about how to invest money in the stock market — it’s about how to use the proven strategies and loopholes that rich people use to turn hard-earned money into bigger pots of gold. With this book, you’ll retire early! See the difference? Lastly, always give an analogy or metaphor — something people can instantly relate to — perhaps something funny, something timely, something eye-opening. So, use your words wisely and always remember it’s style over substance when it comes to PR.
41. Word Of Mouth is what sells books. Get the word out early and often. Tell everyone you meet or know about your book. Initially, to get known, you need a grass roots campaign. Where appropriate, speak before any group that you can find will have you – a church or temple; a college; a library; a book store; an association; a book club – anyone! Partner with others to cross promote each other’s book, services or products. Link with people in a related or similar industry to you.
42. Internet Guru Learn from people who have made a ton of money on the Internet. Check out Internet Marketing Training Materials Package with Tom Antion at www.greatinternetmarketing.com/pta.htm
43. Get A Knowledgeable, Experienced Publicist Get a publicist who has a track record of success, familiarity, and interest in your genre of expertise. This person should share in your vision and see beyond the book. Conducting a PR campaign has a bigger potential payoff vs. one-time advertising. Ads rarely pay for themselves. Do not expect a publisher to do everything or anything for you. It’s up to you as the author to promote your book. If you self-publish your book, seek to arrange for distribution before hiring a publicist.
44. Sell More Than Your Book Have other products/services to sell, so that when your book generates publicity and traffic to your Web site, you are building customers for life with other items to sell them.
45. Make It Personal We know that creating your book is a labor of love — and time and money. But the biggest step you have to take comes once the book is printed and ready to be sold. You need to have an aggressive publicity and marketing plan — or else your book gets lost in the tsunami of new books published annually. And when you’re promoting your book, particularly to the news media, you need to make it stand out. The best way to show off your book’s uniqueness is to make it personal. To differentiate your book from others on a similar topic is not to highlight the contents, but to spotlight your very own story. No one, no matter the subject they write on, can have your story. You are one of a kind — at least until cloning takes over! Link your work to who you are — your experiences, your credentials, your personality. We must be able to hear a unique voice from the author even when the books begin to look alike. So the next time you discuss your book, discuss yourself. Lastly, whatever you say in describing your book, be positive, smile, and give off a confident, inviting look. People must feel they need, like, and trust you before they’ll buy from you.
BONUS TIP: HIRE PTA TO PROMOTE YOU!!
 Brian Feinblum, 2007.
Planned Television Arts, the nation’s largest and oldest book promoter, is celebrating our 45th anniversary this month, and in honor of reaching this milestone, we are pleased to offer 45 free tips on what authors need to know about getting published, promoted, and distributed. If you have further questions, please contact PTA’s Chief Marketing Officer, Brian Feinblum, at feinblumb@plannedtvarts.com Please feel free to click onto www.PlannedTVArts.com and download, at no cost, The Million-Dollar Rolodex, a great publishing resource. You can also sign up for our free e-newsletter at the site. Also look for our updated list of new free publishing/PR teleseminars.
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