SPS 055: Why This Former Publishing Company CEO Is Self Publishing Books...And How He Sold 500k+ Copies Of His Self Published Planner with Michael Hyatt
Joining me today is Michael Hyatt. He is the former chairman and CEO of a publishing company, now he is the founder and CEO of Michael Hyatt Company. An Inc. 5,000 company for several years, he has written and published dozens of books. Today, we are going to chat about how he is self-publishing books, how he has sold hundreds and thousands of planners and journals, and his new book The Vision Driven Leader and talk about the behind the scenes of his book launch.
Michael believes that “books are the tip of the sphere.” He uses books to network and go where he wouldn’t be able to be. Additionally, he says that books are “working while I’m sleeping.”
On advertising, Michael says, “We never use Facebook Ads to sell directly, except for self-published books.” These books are used as a lead generation when offering free value-added content. “We want them to opt-in, buy the book, and buy additional products.” While the number one way Michael gets traffic is through speaking engagements, he receives valuable traffic through his book lead-generation process.
Other forms of lead generation, especially during COVID, are evergreen webinars or live webinars, and assessments. From the assessment, the potential client fills out a planner. At this point, they can be vetted as a possible client for business coaching. Clients who buy a bundle of books are a flag that this client has a team and is a company Michael wants to market his higher-level sales.
Listen in to find out how Michael sells his books directly from his website, how he moves potential clients from his lead funnel to his business and the channels he uses to sell over a half a million planners in a year. Learn why his planners are spreading like wildfire in major corporations, why there is nothing more important for your business than having a clear vision of your company, and why lacking in a vision script will put leaders on shaky ground.
- [02:30] Why books are the meat and potatoes of the Michael Hyatt Company.
- [03:11] How Michael decides which books to self-publish and which books to publish traditionally.
- [04:27] He answers the question “What is a tradebook?”.
- [07:00] Questions asked when they take their book order.
- [08:13] How Michael ties in assessments as a lead generation tool.
- [09:57] The downside of traditional publishing.
- [11:30] The challenges of getting readers to see and read ebooks and his clear Customer Journey Diagram.
- [15:45] Top acquisition channels for Michael to sell his planners.
- [20:16] Consider the possibility of setting up a subscription for a paper book.
- [23:24] Michael’s game plan for marketing his new book based on previous experiences.
- [25:09] Three things a clear Vision Script will give you in your business.
- [26:47] Differences between vision and mission and the four parts of the core ideology of a business.
- [29:08] How Michael drives book sales to his bestseller list.
- [34:39] Free offerings Michael gives with his book sale.
- [37:35] Why Michael’s book is more relevant now than ever and how he pivoted his messaging.
- [40:16] Michael’s advice to the Michael Hyatt’s of today.
Links and Resources
- Circle of Profit
- Michael Hyatt Episode 001 of Self Publishing School
- The Vision Driven Leader by Michael Hyatt
- Vision Driven Leader Assessment Vision Grader