Thursday’s profit tip for authors

Fear of making a mistake is one of the biggest challenges that authors face when communicating with prospective coaching and consulting clients. As Ori Brafman and Rom Brafman describe in their popular recent book, Sway: The Irresistible Pull of Irrational Behavior, the fear of loss causes many unfortunate decisions and also paralyzes many from taking action.

A fear of making an expensive mistake can get in the way of a sale, even when your prospects are already familiar with you and your ideas, such as after they have read your book.

I recently interviewed Jared Joyce, inventor of the Titan Water Bottle, for Jay Conrad Levinson’s Guerrilla Marketing Association. We discussed the concept of “draining the risk” at length. Jared discussed how he has to constantly “drain the risk” for his prospective investors. He described the various tools he has created to communicate his expertise and fiscally-responsible management style to his prospective investors.

Authors looking for ways to “drain the risk” from their prospective clients can visit Jared’s website and view samples of the “risk drainers” at his website. These include:

• The Inventor’s Timeline, which demonstrates the typical steps involved in taking a new product to market. This provides a “benchmark” which Jared uses to compare the progress of his recent invention, the Titan Water Bottle, compared to the typical inventor’s time to market.
• The Paradigm Flyer, this demonstrates his creativity as well as reinnforces his ability to stimulate ideas and provide product leadership.
• 50 Questions that Investors Will Know the Answers To after meeting with Jared Joyce and his staff. Since most investors don’t come prepared with 50 questions, he’s proving his expertise by anticipating their concerns!

Authors who think in terms of “draining their prospect’s risk” will be better-able to increase their coaching and consulting services after their book appears.