Big Idea: Publishing a book can be a great business card.
Tiago Forte of Build Your Second Brain explains the revenues and expenses for his popular book.
► $478k in advances.
► $509k in costs to make it a best-seller.
He lost money on the book, but it helped with course sales.
“Since our email newsletter is our main sales channel, this corresponds to roughly $720,000 in course sales if we assume those people purchase in typical numbers. So by that measure, the revenue associated with this book rises from $478,000 to about $1.2 million in total. Which means we’ve already broken even on the endeavor and profited almost $200,000 before even starting to receive royalties.”