790: Book in a Box Passes $11.3m in Revenue, 500+ Authors
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JT McCormick. He\\u2019s an American businessman, author and speaker. Most recently, he served as President of Technology company HeadSpring before his current role as president & CEO at Book in a Box.
Famous Five:
- Favorite Book? \\u2013 Cyrus the Great
- What CEO do you follow? \\u2013 Jeff Bezos
- Favorite online tool? \\u2014 Slack
- How many hours of sleep do you get?\\u2014 4.5
- If you could let your 20-year old self, know one thing, what would it be? \\u2013 It\\u2019s not about the high school diploma. It\\u2019s about the work ethic and the sacrifice you\\u2019re willing to put in to achieve greatness
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Time Stamped Show Notes:
- 01:47 \\u2013 Nathan introduces JT to the show
- 02:08 \\u2013 It is possible to buy a bestseller from Book in a Box
- 02:23 \\u2013 The cost will depend on many factors
- 02:40 \\u2013 One of Nathan\\u2019s friends spent almost $250K on Book in a Box because he wanted to put out a book and increase his speaking fee
- 03:15 \\u2013 There are many people who paid more than $250K to get a book out
- 03:21 \\u2013 Nathan read his friend\\u2019s book and thought it was trash, but his friend\\u2019s speaking fee increased
- 03:33 \\u2013 It\\u2019s still a positive ROI
- 04:02 \\u2013 Book in a Box specializes in ensuring the books are filled with valuable and meaningful content
- 05:11 \\u2013 Book in a Box has made it possible for authors to publish their book
- 05:27 \\u2013 JT just met a professional speaker who has been in the business for 22 years, but never had a book
- 05:34 \\u2013 He never got the time to write a book
- 05:41 \\u2013 Book in a Box will just interview him and write the book for him
- 05:52 \\u2013 \\u201cYour book written in your tone, your voice\\u201d
- 06:09 \\u2013 Nathan shares how Book in a Box makes you spill the beans
- 06:41 \\u2013 Cost is $25K which is $5K a month for five months
- 06:58 \\u2013 The quality of the books are the same as the ones from Barnes and Noble
- 07:13 \\u2013 Nathan got a deal from Portfolio Random House
- 07:37 \\u2013 Book in a Box provides proposals and manuscripts for their clients to bring to publishing houses
- 08:00 \\u2013 Book in a Box has worked with a total of 500 authors
- 08:31 \\u2013 Book in a Box launched in 2015
- 09:00 \\u2013 Book in a Box is one of the unicorn companies in the startup world
- 09:13 \\u2013 \\u201cWe, as Book in a Box, have no debt, no private equity, no VC money and we are extremely profitable\\u201d
- 09:27 \\u2013 Book in a Box has changed pricing a couple of times
- 09:38 \\u2013 When JT met Tucker and Zach, the co-founders, he was actually looking for someone to write his book
- 10:14 \\u2013 Tucker offered JT three pricing models, $10K, $18K and $30K and JT chose the latter because he wanted a high-quality book
- 10:51 \\u2013 JT explained how the pricing turned out to be just one pricing model which is $25K
- 11:33 \\u2013 Total revenue since 2015 is $11.3M
- 12:07 \\u2013 Book in a Box currently averages 25-30 books a month which has continuously grown to 50-75 a month
- 12:29 \\u2013 Team size is 30 full-timers with over 100 freelancers
- 13:13 \\u2013 \\u201cWe\\u2019re a relationship company\\u201d
- 14:17 \\u2013 Book in a Box treats their freelancers with respect and pays them on time
- 15:05 \\u2013 Book in a Box helps with marketing and book sales
- 15:14 \\u2013 Customers go to Book in a Box for one of three reasons; credibility, thought leadership or lead generation
- 15:48 \\u2013 Book in a Box created Thought Leader Media
- 16:01 \\u2013 Pricing starts at $15K to up to $75K yearly
- 16:17 \\u2013 The pricing varies depending on the author needs
- 16:51 \\u2013 Thought Leader Media just rolled out in Q1
- 16:58 \\u2013 35 out of 250 published books are in Thought Leader Media
- 17:10 \\u2013 Total book sales from Book in a Box authors
- 18:50 \\u2013 The Famous Five
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3 Key Points:
- Those who want to have a book written, but can\\u2019t manage to start can simply utilize companies such as Book in a Box.
- Pricing is crucial in every business\\u2014it\\u2019s either you make it big or lose everything.
- Respect and an excellent work ethic are keys to success.
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Resources Mentioned:
- Simplero \\u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
- The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
- Klipfolio \\u2013 Track your business performance across all departments for FREE
- Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
- Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
- Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives
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