Making the Most of Your Intellectual Property
Your intellectual property is your original ideas. The value of that
intellectual property is dependent on your ability to take your ideas
and turn them into products from which others can benefit.
Writing a book is just one of the ways you can use your ideas to create a profitable business and help others.
It is critical to consider how best to disseminate your ideas, both to
maximize profits and to give options to your readers for how they would
like to receive your ideas.
Consider Your Options
If you consider your options before you begin writing, you maybe be
able to write for all media at the same time, reducing the time to
market. Some options include audio recordings for tapes, CDs or to be
downloaded as an MP3 or other audio file from a website. You might also
consider developing seminars which can be distributed via videotape or
live performance. Another option is an ebook.
Creating an Income Stream
Even if you hope to find a mainstream publisher, consider releasing
some of your ideas in product form before writing your book proposal.
You will get valuable feedback from your readers that may help you to
entice a publisher. You can also create an income stream which will
help you finance the work on your book. Finally, you will be in a
better position to negotiate keeping some of your intellectual property
if you have already released products.
Get Feedback
Many authors develop their ideas out of their work with clients or they
get positive responses from speaking engagements. Other authors develop
their ideas alone by writing them and then thinking about them, and
rewriting them.
Whatever your style, you really don't know whether your ideas will be
widely accepted or at least interest a large group of people until you
test them. One of the critical mistakes made by authors is to think
that because family, friends, and a small group of clients admire your
work, it means it will they have wide public acceptance.
Creating Audio Recordings
A relatively simple way to test your ideas and get feedback (positive
and negative) is to create audio recordings, either scripted in a
studio, or by recording a speaking engagement.
Depending on your material, consider creating a short workbook as a companion piece for the audio, or as a standalone.
Writing Articles and eBooks
Another way to get used to writing and testing your ideas is to write
short articles which can be submitted to ezine compilers. While the
articles themselves are not a source of income, they are great practice
for writing your ideas, can create a following for your work and you
may be creating chapters of eBooks that you can then sell.
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