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8 Ways To Become A Best-Selling Author With Your First Book

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I admit it. There are no guarantees—especially with books.

Mini Habits best selling bookBut while I can’t guarantee this will work for you, I can say it worked for me and I’ll do my best to share why. I’ve published one book (so far) called Mini Habits, and it’s been a bestseller for more than seven months straight, almost always being in the top 10 of competitive categories. So when I say best seller, I don’t mean that it peaked at #35 in one category one time and dropped back down into oblivion. It has sold 16,000+ copies in these seven months.

At its peak, Mini Habits hit #15 overall in the US Kindle store (and #1 in nonfiction). That was a fun day!

These are the 8 key factors that made my book a best seller. If you’re a current or prospective self-published author, you’ll want to bookmark this one. This is what made my book a mini-phenomenon… one which continues to grow.

 

1. Give Your Book A Chance To Succeed

Obvious, isn’t it? But how many self-published authors out there are paying enough for skilled editors and talented cover artists? I don’t know the answer, but I know that a lot do NOT invest much money into their book—only their time. The problem with only investing time is that publishing a book takes an alarming number of varied skills to pull off. The likelihood that you can do everything to a high standard is about as likely as North Korea being voted “friendliest country.”

To have a chance, you usually need to take a financial risk. I paid $150 for my first cover. It wasn’t horrible, but I did decide to pay $550 to have another one created that fit the book better and gave a more cheerful vibe. That’s $700 I put into the cover alone. Then you have editing, proofreading, and any other services you might need to fill in your skill gaps.

To compete at a high level in the marketplace, your book must be polished.

 

2. Launch Big Or Go Home

Book launches are like space shuttle launches—if there’s a problem in the beginning, your entire mission is in big trouble. The reason is a simple, yet powerful observation that any of us can identify as true.

The books that sell are the books that sell.

It’s unfortunate that so many gems are buried in obscurity, but it happens all the time. For your book to have a chance, at some point it must rise up the charts to a place where browsing readers can see it, and the best time for that to happen is right when you release it.

It’s not just visibility, either. Who wants to buy a book that has sold one copy in the past year? Psychologically, we’re wired to think that the books that sell the most are the best ones. That’s not always true, and the way in which it is most incorrect is in assuming books that don’t sell aren’t any good.

Perception and visibility make your book’s success or failure.

How do you launch big?

The most reliable way is with your own targeted email list. I had just over 4,000 email subscribers when I launched Mini Habits. It reached as high as #1,503 overall on Amazon in the first couple of days in which members of my list bought 100-200 copies.

The second best way is with another person’s email list. I was fortunate enough that Steve Scott—a prolific blogger and author—liked the book and shared it with his list of about the same size. This helped minimize the dreaded post-launch cliff and kept it visible.

If you don’t have an email list or know anyone who does, you’ll need to get creative and try to build partnerships with people of influence. One good idea that has worked for some is to give out advance copies of your book to bloggers in your book’s niche. Then ask them to share it if they like it.

The point here is that it’s unrealistic to think your book will sell if it doesn’t have a big push to get it into the spotlight. Just think about a best-selling author like Stephen King—the moment he releases a book, there are already thousands of people waiting to buy it, sending it up the charts and making it visible to even more people. That’s what you need to aim for (on a smaller level, of course). I did it by building a platform (my blog). I’m a poor networker, but I was still able to have a big launch. Play to your strengths and leverage email lists for a big launch! Even if you have to pay someone to advertise to their list, email is the best sales channel.

 

3. Publish In The Right Place(s)

Mini Habits is exclusive to Amazon. The reason for that is Amazon’s KDP select. There are three benefits of KDP select, which you gain when you only publish your ebook on Amazon.

Countdown sales (or free sales, which I personally think devalues books) — once every 90 days, you can put your book on sale, and there will be a countdown timer to show readers when the sale ends. Most authors find this helps increase sales over manual price changes (because of the official countdown timer).

Prime borrows — Amazon Prime members pay about $99 a year for free two-day shipping on Amazon. As a bonus, they are allowed to borrow one Kindle book per month. If you’re on KDP select, your book is included as an option. On average, Amazon pays you about $2 every time your book is borrowed. Depending on the price of your book, this is almost like another sale. And as for your book’s Amazon ranking, it seems to count as a full or partial sale too, which is obviously wonderful.

Kindle Unlimited — Amazon just announced a Netflix-like subscription model for books. Readers pay $9.99 for unlimited access to more than 600,000 books. Mini Habits is automatically one of those books because it is enrolled in KDP Select. So if a reader has Kindle Unlimited and downloads your book, does it count as a sale? A borrow? It counts as nothing, actually, until they read at least 10% of your book. After they read to the 10% mark, the transaction is counted just like a Prime borrow (which was explained above).

As a side note, guess what Kindle Unlimited is going to encourage? Shorter books, where the 10% mark can be reached more easily. The 10% mark in War And Peace is about the length of my entire book!

Amazon has a KDP fund that is split by authors in KDP select. Your split is determined by what percentage of borrows your book(s) were responsible for. It usually amounts to about $2 per borrow. Now that they’ve added the Kindle Unlimited monkey wrench, the big question is how—if at all—it will affect this $2 per borrow number authors have come to expect. We’ll have to wait and see the first KDP disbursement.

That’s Amazon’s deal and they control 50-60% of the market, so it’s a big deal. It has worked brilliantly for me, and I love the simplicity of only managing one platform. There are legitimate concerns, however, with putting all of your eggs in Amazon’s basket, especially when they’re making industry-shaking moves like Kindle Unlimited. The good news is that if you go exclusive with Amazon, it’s only for 90 days at a time. After that, you’re free to drop KDP select and put your book on other platforms.

I’ve gained thousands of dollars and hundreds of readers by going exclusive with Amazon through the borrows alone, and the Kindle countdown deal is what drove my book to #15 in the USA Kindle store for a few special days. It’s been beneficial to concentrate all sales in one location for sales ranking purposes, too.

That’s not to say it’s best for everyone. I’ve read plenty of authors who get plenty of sales by going multi-platform. I was going to experiment, but it’s gone so well with Amazon that I’ve stuck with it.

 

A total of seven self-published ebooks will make the New York Times bestseller list this weekend

 

4. Make Your Book Relevant, But Unique

I’m not saying you can’t write another vampire book. I’m saying you can’t write “Twi-lite.”

For fiction and nonfiction alike, it’s smart to look at what’s selling well already. That’s where the interest is, and a crowded market is not usually a bad thing. Many people who buy one book in a category will buy several more in that category! Looking at what people are buying now will help you stay relevant.

Now, I’m forever biased, but I think that “Mini Habits” has some intrigue to it. I know it’s at least a unique concept, and yet it’s within the popular habit formation niche (relevant, but unique).

Also important is that “Mini Habits” is a memorable and easily identifiable title, which helps greatly if someone wants to talk about the book or concept with friends. “Mini Habits” is also perfectly descriptive of the book’s topic—I didn’t just throw a catchy name on the cover (though a few copycats of my book did. One guy had “Mini Habits” in the title despite the phrase not being found one time in the actual book… classic).

And that’s another lesson you probably already know. If you want the chance to become a legitimate author yourself, do not blatantly copy other authors. It can work for blog posts to write “The 7 Habits of [blah blah],” but if you publish a book trying to use the same copycat formula, you’ll take a credibility hit.

That said, you can modify a working concept to make it less-than-obvious that you were inspired by a popular book. Maybe your book would be called “The 9 Beliefs Of Very Happy People.” That uses the same general formula as Steven Covey’s blockbuster, “The 7 Habits Of Highly Effective People,” but it’s not a blatant copy and it even tackles a different subject (and it’s a topic in demand as evidenced by other best-selling books on happiness).

The idea is to stay relevant to what people are looking for, but make sure your book stands out. It’s simple advice, but it’s invaluable if you want to sell books!

 

5. Price Your Book Like A Pro

Note: This strategy applies to Amazon only. I’m not familiar with how the other book markets operate (e.g. Barnes & Noble and Apple).

Just after I launched Mini Habits, I made a mistake. Seeing it as a premium book with premium information, I priced it at a premium price of $9.99. I quickly learned that selling a short book for $10 is a bad idea, especially with your first book. Sales dropped substantially when I increased the price. I expected a drop, but not that much of one! So I lowered it to $5.99, where it’s been selling successfully for months.

To price your ebook, you’ve got to understand the pricing environment you’re in. My book is exclusive with Amazon (and we’ll get to that soon), and so I’ve analyzed the price of hundreds of Amazon ebooks.

People shopping at Amazon have specific expectations of how a book will be priced. Generally what you’ll see is self-published ebooks in the $2.99-9.99 range (with almost all at or below $5.99) and traditionally-published ebooks are often greater than $10. Since Amazon gives a 70% royalty for ebooks in the 2.99-9.99 range, that’s why you see so many books between those boundaries. Books priced outside that range only earn a 35% royalty for the author.

If you “fight the market” and stubbornly price your book at $15 “because it’s worth it,” enjoy having no sales! If you’re like me and you cringe a little bit at selling your baby for too little, consider the other great thing you get from a lower price point—readers! Writers need readers, right? And generally speaking, gaining a loyal reader is more valuable than making a couple bucks more per sale. So if you’re going to be a rebel, choose another way besides pricing. Believe me, you want to conform to market pricing.

 

6. Categorize Your Book Like A Pro

Let me ask you a question. After you launch your book and place it in the proper categories, what do you do? If you said anything besides “change categories,” listen to this. When I made a change to ONE category Mini Habits was in (you can put your book in two categories), sales doubled. That needs all caps, doesn’t it? SALES DOUBLED.

To properly categorize your book, there are only two factors to consider—where your book ranks in the category and how well it sells there. Generally speaking, my strategy is to get in the most popular category where I can rank well. For my sales volume now, that means a popular category in which I can get on the first page (top 20 books). For someone just starting out with lower sales or a very competitive niche (e.g. Mystery), you might be aiming to break the top 100, which is where the bestseller list cuts off.

Keep in mind that being #83 in a popular category might get much more traffic than being the top 20 of a less popular category. Fiction readers especially are voracious, and will scour the deepest depths of their favorite categories to find a new gem.

To get an idea of a category’s popularity, look at several of the first 20 books. Click on a book and scroll down until you see its overall ranking. If it’s a competitive category, you’ll see several books rank in the top 1,000 books overall. If it’s not a very competitive category, the #1 book might be ranked as low as #5,000-#15,000 overall. Now find your book’s overall ranking to see where it would be in the category you’re analyzing.

These should be your priorities:

  • Break top 100 in a category
  • Break top 20 in a category (first page)
  • Become #1 in a category (this might help with Amazon’s system recommendations, and Amazon shows “#1 best seller in ____” next to your book in search)

You have to think carefully though. Being #3 in a popular category will most likely serve you better than being #1 in a lower-traffic category, but only experimentation can confirm this. I’ve had the best results by jumping into a popular category when my book can rank in the top 20, and when I can’t manage that, jumping down to a less popular category and aiming for the top 5.

Chances are, your book can fit in a number of different categories. Some categories are better fits for your book than others, but choosing the “best fit” is not always the best decision for getting your book more sales and exposure. That said, if you pick a completely irrelevant category, you won’t be happy with the results!

These are good guidelines to follow, but you’ll still need to experiment. And that’s the key. Many authors do not experiment, and let their book die young in the wrong category. Sometimes I wonder where Mini Habits would be if I didn’t experiment with categories.

 

professional writer amateur quote

 

7. Know Your Reader And Overdeliver On Value

When people read Mini Habits, they probably expect to think, “that was a cute idea,” or some adorable phrase like that. But what they get is a compelling and carefully-crafted case for taking seriously this ridiculous-sounding strategy of habit change. I loaded the book with science and straightforward logic. I also know the strategies people currently try to succeed with, so I effectively and ruthlessly attacked them as inferior strategies for change. If you’ve been doing something for 25 years and a person presents a compelling case for why you shouldn’t do it anymore, it will get your attention.

After reading my book, people come away with a new perspective. For many of the people who’ve read it, it’s been a life-changing decision for them. That’s why Mini Habits is rated 4.7 stars from 197 reviews as of writing. I’m not trying to brag, I’m trying to explain that people have to like your book in order for it to succeed. But what determines that?

Give the reader tangible results.

Whether it’s a fun experience or a new strategy that solves a problem for them, delivering a result that meets—and hopefully exceeds—what the reader expects from your book is the single most important thing your book must accomplish to succeed.

If your book only rehashes things that have been said and done before, it’s unlikely to make too many waves. One of the most common critical reviews I see is, “nothing new.” That happens when people don’t do in-depth research. They parrot out what other authors are parroting out.

Readers like to be surprised by novel situations in fiction books and novel ideas in nonfiction books. They read books to learn and experience new thoughts and ideas, and if your book doesn’t accomplish that, it will be tough to win people over.

But I want to go a little bit deeper. Overdelivering isn’t just some fancy catchphrase that means “do a good job.” It means to “do more than what’s expected.” And this is critical with books because expectations are largely based the price of your book and how the content measures up to the competition—two things that you can control. We just talked about overdelivering and standing out, so now let’s talk pricing and categories.

 

8. Promote The Smart Way

Note: Some authors will cheat the system and buy positive reviews. People read reviews to see what real people thought of your book. If you can’t get ahead without cheating, you should play a different game! That’s my philosophy, and I think that the trust I build with my book and blog readers will be THE key factor that sustains my business. Not only is review tampering highly unethical, but I find it unnecessary.

Cheating gets you ahead today; honesty builds a foundation for life. It feels good to know that people will look at Mini Habits’ reviews and see nothing but honest feedback. Fortunately, the feedback has been positive, and that’s why overdelivering is important.

Mini Habits has sold like hotcakes for 7 months in a row. Why do you think that is? Whenever sales drop, and even when they don’t, I’m hustling to promote it! Writing and publishing a book is only the beginning. Promotion is a neverending job because when you stop promoting, your book will fade away (unless it’s a rare exception).

Too many authors write a book and wait for the sales to come, but in order to compete, marketing your book is mandatory.

For promotion, the king on top of the mountain is Bookbub. There is no arguing against it, and their role in the book industry is only going to grow moving forward. Bookbub is a book deal site that has email lists of hundreds of thousands of subscribers in different categories. They let subscribers know when there’s a great deal on a great book.

Remember how I said the email list was the key to a big launch? That’s why Bookbub is king. They have, by far, the largest email lists of interested readers (for example, they have 1.5 million emails for the Mystery category alone)!

If you submit your book and are lucky enough to be accepted, you get to pay them several hundred dollars. Wha-whaaat? Yes, and if you know what you’re in for, you’ll have a huge smile on your face when you do it. I often read message boards and laugh when people say Bookbub and “risk” in the same sentence because of the cost. I’ve not heard of one person who hasn’t easily covered their cost with a Bookbub promotion. One measly email from them will trigger hundreds or thousands of sales of your book.

I didn’t mention this, but do you know how Mini Habits rose to #15 overall? It sold 4,000+ copies in two days. And it wasn’t just the Kindle countdown deal, it was Bookbub. And the residual effect of moving up the charts like that is substantial. Sales are still higher months after the promotion, because the books that sell are the books that sell.

But it’s difficult to be accepted on Bookbub because of the demand, and you can understand why. Getting on Bookbub with a diamond in the rough book might just change your life. It changed mine!

If you think the whole point of this article is “get on Bookbub,” that’s not correct. You can absolutely succeed without Bookbub, and your book will need to be somewhat successful already in order to have a chance with them anyway. Keep in mind that the reason they accepted Mini Habits is that it was already selling well, was rated 4.9 stars, and it had that combination of unique, but relevant I mentioned earlier. Bookbub just took my book’s success to the next level.

Bookbub isn’t the only one, either. There are dozens of other ebook promotion services. Many of them will give you disappointing results, so be careful and google “[their name] results” to see others’ experiences with them. I’ve found this to be a reliable way to see if a promotion is worth it or not. I’ll go ahead and tell you that Pixel of Ink and eReaderNewsToday are the other two to look at first.

 

Alternative Promotion Strategies

Guest posting—I’ve had success with guest posting and linking to my book in my bio. As expected, it works best when the post is related to the topic of your book. This is easier for non-fiction writers, since the content is suitable for a larger number of blogs.

Funnels—This isn’t a “best-selling first book” approach because it requires multiple books, but many authors have success with funnels. An example of a funnel is having the first book in a series free, which draws in a larger amount of people than a for-sale book would. Then, the second book in the series might cost $2.99, and readers who get “hooked” on the first book will likely purchase the second book. After that, maybe you’ll sell them an even higher priced book or related product. The idea of a funnel is to ask for very little at first until you build trust with the reader. If your books are good, it works very well. If people read your first book and hate it, well, you know…

Advertising—Conventional advertising with Google adwords or Facebook is always an option. I don’t do it, but it’s another way to get sales and increase awareness of your book. Just keep a close eye on your ROI, because losing a lot of money for a few sales isn’t ideal.

GoodreadsYou must get on Goodreads if you’re an author. It’s like the world’s biggest book club. I’ve run two paperback giveaways through Goodreads, and I can’t say it’s done a lot for sales, but I don’t know that for sure. It has greatly increased my presence on Goodreads, which can only help. My guess is that it’s had a small-to-moderate positive long term impact on sales (but no short-term sales boosts).

 

Conclusion

The truth is that most authors give their books absolutely no chance to rise to the top. First, position your book to succeed, and it will have a chance to be read. If it’s read and people love it, it might just become the next blockbuster. But don’t let that get you too excited or discouraged—there’s a middle ground. There are a lot of authors just like me who aren’t in the paper, but are still making a decent living from their book(s).

Unlike any time before now, every writer has a chance. The gatekeepers have been overthrown with the rise of self-publishing. Now it’s the wild west, and these strategies will help you compete.

Check out my book "Mini Habits" to discover the life-changing strategy of taking small, daily actions. Mini Habits has sold 80,000+ copies worldwide. I'm Stephen Guise, the founder of Deep Existence, a blog about focusing, habits, and the power of small steps. Join Deep Existence to gain access to more than 50 exclusive articles, download 40 "focus wallpapers," and read my stress management book for free!

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11 Comments

11 Comments

  1. Cloris Kylie

    Oct 16, 2015 at 11:02 pm

    Spot on, Stephen! Great article! This is exactly what I share with my clients–who are authors wanting to sell more books. Thank you!

  2. Cindy Griffin

    May 13, 2015 at 2:24 pm

    My debut novel is a rock romance and currently at the editor. I wanted to thank you for this article with all of these helpful suggestions. I never considered when I started writing that I would need to be a publisher and have a marketing degree! I simply wanted to write great books.
    Through Internet searches I have now learned so much valuable information about both areas, more than I want to know actually. I am going to follow your advice from these steps and see how my book does. The info makes the most sense to me from ALL of the publishing tips out there (there must be 1000s).
    I do not want to jumble my mind with publishing and marketing info. As I said, I simply want to write great books.

  3. James Jean-Pierre

    May 6, 2015 at 1:43 pm

    Took me a while to land on this post and I can’t say I regret it. I’ve read a lot of posts, and I mean a lot, but this is different, not repeating the same thing everyone else is.

    The three promotions you suggested, I found a while back but had put them in a don’t use folder, but I will bring them back to see if I should reconsider. Thanks a lot, this was really helpful.

  4. Lidiya K

    Jan 17, 2015 at 11:52 am

    Excellent advise! Thanks for the article.

  5. Rev. g

    Nov 21, 2014 at 6:17 pm

    This was very helpful. Currently in the process of the ‘marketing stage’ of my first book and have just written my second. Both genres are spiritual/inspirational. The first is published and available in hard/soft covers and ebook (we used multiple platforms). I didn’t have much say in the pricing except for the ebook and after reading your article perhaps I need to lower the price (currently at $7.99) My 2nd book going to the production stage. I self-published with the help of a publisher. Since this is all very new to me, your tips have been extremely helpful. I look forward in using them – thanks again… This has truly been a learning yet positive experience!

  6. Mohammad Izdiyan Muttaqin

    Aug 17, 2014 at 7:08 am

    thank you very much for sharing it is a really valuable lessons, i am really motivated to try it

  7. Phil Janecic

    Aug 16, 2014 at 8:21 pm

    This is an awesome post! I’ll be publishing in the future so this was full of really useful information. I only have one question – you only covered the “ebook” part. I see that Amazon also offers your book as paperback.

    How do you set up publishing physical books? I can only assume it’s expensive and complicated.

    • Stephen

      Aug 18, 2014 at 3:55 pm

      Thanks Phil. If you publish your paperback through Createspace (amazon Subsidiary), it’s the opposite of expensive and complicated.

      1. Format the book to look good on paperback (this is the hardest part because you have to wrestle with word processing software). As opposed to the ebook, you’ll need page headers, page numbers, etc.

      2. Have your designer create a PDF cover.

      3. Upload the interior and cover for review and they’ll let you know of any issues you need to fix.

      4. I remember it being free. Then it’s print on demand and they take a cut.

      Createspace has info on how to format the interior and also the needed dimensions of the cover. But yeah, I was surprised at how easy it was.

      Cheers,
      Stephen

  8. Ben Kyle

    Aug 11, 2014 at 9:39 pm

    This is a great article….
    Writing and publishing(Point 3) a book is one thing, but getting it to top the charts is another.

    From what I’ve been able to observe and the extensive market research I’ve done there are a few specific ways you can become a bestselling author:

    1. Luck – think Fifty Shades of Grey: Book One of the Fifty Shades Trilogy

    2. Notoriety – think J.K. Rowling or Anthony Robbins – the simple fact of them publishing a new book almost guarantees it will shoot up the charts to #1.

    3. Buy your way to the top – many Internet gurus have been known to buy massive quantities of their own book when it first comes out and force the book to the top of the chart.

    4. Great writing(point 7) – this is how many new bestsellers reach that coveted position.

    5. Great marketing(point 8) – some authors wrote a decent book, but the power-house marketing behind the launch is what propelled them to the top of the charts.

    Other than the first way to become a bestselling author, I’d say that most of the other types of authors on the list become a bestseller by having a very clear and focused goal.

    By that I mean that you set in your mind that your book will top the charts, you hold that vision and you take massive action to make that happen.

    • Stephen

      Aug 12, 2014 at 6:04 pm

      Thanks, Ben.

      Based on your list, I think people should aim for #5 and work their way up to #1 as far as strategy goes (though I think #3 is unethical).

      I think that marketing makes a bigger difference than writing quality in many cases (it’s not ideal, but it seems to be the case). But you need both to have a sustainable presence on the bestseller list.

      And your last point is quite true. I believe so strongly in Mini Habits that I’ve been determined to make it highly visible and successful, and that’s helped. If I was half-hearted about the book I wrote or not confident in its value, it’d be much harder to promote it like I have.

      I love Amazon though. Their platform makes it more likely for the cream to rise to the top. Biases are negated through an impartial algorithm, which gives all writers a chance to succeed.

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Success Advice

The 6 Step Process for Delivering Critical Feedback in a Constructive Way

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We have all been in the position where we knew we needed to have a difficult conversation at work that involved delivering constructive feedback. Maybe a major deadline was missed, there was a clear decline in performance, or someone blatantly dropped the ball. Most of us avoid delivering the feedback, and the conversation can get pushed back again and again, wasting valuable time and money.

Delivering constructive feedback is challenging, and uncomfortable for most people, even highly trained leaders. Yet, delivering and accepting feedback is one of the most important keys for success. So why do we avoid these conversations? Because we never learned how to have them.

Open, honest, direct communication is not a skill we are taught in school. There is no “How to Have Tough Conversations” 101. As a clinical psychologist that specializes in couples work, I see just how important communication is in maintaining thriving relationships. I understand that good communication is the foundation of every successful relationship; both intimate relationships and your work relationships.

Below is a 6-step guide to providing constructive feedback:

Step 1: Clarity on the Goal of the Conversation  

The first step is to get clear on the goal of the feedback conversation. Are you planning to see a change in performance, simply communicate how you felt, or receive an apology? Get clear on what you are hoping to get out of the conversation. Be honest with yourself about what you need, what is most helpful to the relationship, and what is most helpful to the organization. Getting clear on the goal also ensures you are speaking with the right person.

“I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better.” – Elon Musk

Step 2: Invitation

Set up a time to talk. Feedback conversations are not meant to be had in the hallway. It is important that both parties can set aside adequate time and have the space needed for dialogue. Additionally, there must be respect for both parties’ need for time to process information. For example, if you are delivering feedback, and the receiver needs time to process the feedback before responding, setting up a subsequent meeting will be most helpful.

Step 3: Ownership

Own the role you played in creating the situation. When you model ownership of blind spots, failures, or missteps, you set the stage for the receiver to do the same. For example, you may acknowledge that you were not aware of how to support your employee and not aware of the problem until x situation occurred. Equally important as owning your role, is owning your emotions. Own your emotions using “I” statements. For example, “I felt disappointed when I realized your sales performance had substantially declined”.

Step 4: Open, Honest, Direct Feedback

Feedback that dances around the problem does not do anyone any good. It only increases anxiety on behalf of the receiver, and potentially causes the feedback to get totally lost. The conversation needs to be open, honest, and direct. For example: “I felt concerned when you did not attend the last two strategy calls this month…It brought up questions for me about your commitment to the company.”

Step 5: Listen, Validate and Accept

When providing feedback, it is important both parties maintain an open mind, and respond in a way that communicates validation and acceptance. As soon as an individual gets defensive, feedback cannot be taken in, and the value of the conversation dramatically decreases. When providing feedback it is important to listen, validate, and accept your receiver’s viewpoint. Notice, I did not say agree. This looks something like saying: “I can see why X led you to commit Y , I understand you were under a great deal of stress/dealing with a personal situation/frustrated.”

“We all need people who will give us feedback. That’s how we improve.” – Bill Gates

Step 6: A Clear Plan for Moving Forward

In providing feedback, the magic is that now things can change! If feedback is never given, relationships end, things will stay the same, businesses will die, and money will be lost. If you have gotten to this step, that means you did the hard work, and now you get to put change into action. A clear plan includes an acknowledgement from both parties regarding what they will do differently to prevent the situation from occurring again, and how they will stay accountable in making the change happen.

The good news about delivering feedback is that the more you do it, the easier it gets. Remember, giving and receiving feedback is one of the most surefire ways to open yourself up to massive growth.

As a giver of feedback, it is your job to model openness and a desire for growth, so that the receiver may take in the feedback and make the necessary changes. Exceling at feedback delivery will help you set you apart from others and enable you to achieve extraordinary relationships, in both your personal and work lives.

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Success Advice

Here Are 4 Reasons Why You Should Have a Podcast, Youtube Channel or Online Show

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why you should have a podcast
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Confidence comes from a place of strong understanding of self. After close to three years on radio, I’ve grown from a shy introvert to a shy introvert with an extrovert persona. When the mic is turned on, I can channel a version of myself that some say is attractive, strong, and of course, confident but it wasn’t always this way.

What I want to share with you is what I discovered on this journey into broadcast that you can apply to your life, your ventures, and your personal development. This doesn’t require any fancy gear. It does require a leap of faith on your part because once you go down the road of media; it can change your life.

1. Perceived Expertise

When you go to a doctor, you expect their knowledge will guide them to a solution to your problems. When you have a show, you become your listeners’ doctor. For all the multiple thousands, maybe millions, of YouTube channels, podcasts, and user-created content in the world, each person that gets behind a mic takes a position on their passion, their opinions, and their themes.

They challenge the status quo for the benefit of their listeners in hopes to entertain and educate. With consistency on your side, those fans place you on a platform and give you permission to influence them.

2. Global Acknowledgement

One of the benefits to increasing confidence is when you receive thank you notes from people you may never meet. The feeling of enriching someone’s life from halfway around the globe, provides validation you’re enhancing someone else’s life with your wisdom and your wit.

The very first time I was told I was making a difference in someone’s life in a country other than my own, I felt like I caused massive impact that transcends my circle of influence. When you experience just how much you can cause impact and it comes back to you, it’ll change your worldview.

“Be grateful for what you have and stop complaining – it bores everybody else, does you no good, and doesn’t solve any problems.” – Zig Ziglar

3. Backed By Numbers

One of the most exciting ways to measure success is to quantify your growth. It’s not enough to just broadcast. Having subscribers and downloads helps to know, numerically, how well you’re doing. Word of caution. This can be a way to set yourself up for distress because of number envy but if you understand what the numbers mean; you can control the narrative of the numbers.

The major number that makes most people smile is 10,000. I’d advise it to be 1. Here’s why. As you grow in your industry, so does your reach. If you learned that the one person that subscribed totally changed for the better because of you, wouldn’t that be worth the effort?

4. Effective Communication

While it’s not talked about much, having a show is documentation. You create a dynamic account of your life, your industry, and the pulse on what’s important simply by having a show. When you find a channel to improve your communication skills, you demand attention and people will listen to you. You become more trusted as a leader and people will follow you once they believe you can lead them to their wants and needs.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

These insights have helped many people become leaders and, ultimately, move others to their best selves. It’s worked for me and I hope it works for you. At the end of the day, it’s all about showing up and showing out.

Have you ever thought about having a radio show? If so, what would you talk about? Let us below!

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Success Advice

5 Essential Skills to Drive Success in Every Niche

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skill building
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There are many people who don’t have the courage to launch a business in a niche as they think they don’t have the right skills and experience to obtain success. While there are specific skills which determine the success in every niche, there are also some general skills which ensure success in any business you would try.

Below are 5 essential skills you need to drive success in every aspect of your life:

1. Ambition

When you launch a new business, you need to be prepared for difficult moments such as fighting the competition and winning your target audience. Moreover, if you follow some successful entrepreneurs, you should keep in mind that they also faced difficulties and continue to experience them. So, how does a successful entrepreneur get over all the difficulties?

The essential skill you need to possess is called ambition. Set small and clear milestones in your development plan and use your ambition to go over each difficulty and finalize what you had in your mind. It doesn’t matter how hard the path is going to be. Visualize your target and put in all the efforts to achieve it. Staying organized and scheduling each step to get things done are some of the techniques you can use to achieve success.

2. Listen to those around you

While listening to your instincts is necessary if you want to be a successful entrepreneur, this is not enough. As your business develops, you will have an entire team to manage and lead to success. Therefore, you cannot be a successful leader and have success in every niche unless you learn how to listen to the people around you.

You should listen to your employees and discover what they are expecting from you. This is the way to follow if you want to keep your team motivated and help them give the best of themselves.

On the other hand, you will need to listen to your customers to improve your products and services and provide excellent customer support. By listening carefully to the voice of your customers, you will be able to stand out of the competition and ensure their loyalty towards your brand.

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” – Jeff Bezos

3. Courage

When you decided to become an entrepreneur and build your own business, it means you are a courageous person. Courage will help you harness the power of creativity. Don’t be afraid to take risks if you feel a specific action will bring more success to your business.

Apart from doing intensive research on your ideas and developing the exact steps you are going to follow, you will need the courage to implement them. Not all the ideas will turn out to be successful.

Regardless, you will have something to learn from each success or mistake and this will help you move your business even further. When you have the courage to follow a path which is not very familiar to you, this is going to be the moment when you will widen your horizons and exceed your limits to achieve success.

4. Creativity and imagination

If you already implemented your idea and you see that it works, you most probably think that you don’t need to change anything to achieve more success. You need to keep in mind that customers’ preferences change and your competition is waiting for your mistakes to “steal” your clients.

Therefore, you need to use your creativity and imagination to improve your products and services to meet your customers’ expectations. What is more, creativity can also mean that you are open to talk to new people and use their experience to improve something in your business.

“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” – Steve Jobs

5. Continuous learning

If you want to drive success in every niche you will need to show a willingness to learn. You need to stay updated with what happens in your niche and what your customers expect from you.

Education is not only something for school. It is a lifelong process, and you should be open to seek knowledge and improve your skills with every opportunity. An efficient trick is to stay close to people who are already successful in your industry, ask their opinions on various subjects and learn from their experience.

The above five essential skills will help you build a successful business in every niche. A true leader is ambitious, knows to listen to the people around him, and is always open to learning from others.

No matter the size of your business, you will need to be creative and use your imagination to improve your products and services. These skills will help any leader develop new skills, stand out of the crowd, and strengthen his position on the market.

What skill do you think is most important to be successful in life? Let us know below!

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5 Key Investment Principles from Warren Buffett

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Warren buffett investment tips
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Warren Buffett is a mentor for a lot of traders. Why shouldn’t he be? After all, his investing principles have earned him the title of the world’s greatest investor. His way of working is a little contradictory to many others in the arena of online trading. He doesn’t invest the way it’s depicted in the popular media. He is the kind of investor who likes buying and holding.

Buffett has taught us that once you buy a stock, hold it no matter what. Forget that there is a recession in the economy or it is at its boom. Whether it’s good times or bad, you’re supposed to hold onto the stock.

Buffett doesn’t just buy stocks for the sake of holding them. He buys them for a specific reason. When those reasons no longer exist, he sells the stocks. He not only looks for good prices but sound management and a competitive advantage. He shared his opinion that companies such as IBM, Sears, and GM are great but they cannot stay competitive for long. Therefore, these companies shouldn’t be a part of your portfolio.

Why not learn from the pro himself and invest the right way? Here are 5 key principles to begin with:

1. Invest In What You Know

Before investing in a stock, it is very important to understand what a company does and how it makes its money. Ever wondered why Buffett has always avoided investing in tech stocks? It’s because he does not completely understand their business model. He sticks to what he knows.

This also explains why he prefers investing in Berkshire’s stocks. It represents a diverse mix of stocks such as utilities, banking, and insurance and consumer products. All of these are businesses that Buffett understands very well. No wonder he has invested a significant amount of money here.

“Beware the investment activity that produces applause; the great moves are usually greeted by yawns.”  – Warren Buffett

2. Before Buying a Stock, List the Criteria

It makes sense to buy stocks on the basis of criteria, right? After all, you’re ensuring that you don’t end up investing in something unfavorable. You could be searching for stocks in a certain industry with a set price to earnings ratio.

Buffett never makes the price of the stock the sole criteria of his buying decision. Sometimes, great companies end up taking a price dip because of the market situation. However, holding onto these stocks could still turn out to be favorable.

3. Be Aggressive During Tough Times

Generally, it’s not recommended to time the market. But if you’re a long-term investor, you’ll be fine no matter when you buy. This means that even during the tough economic times, you shouldn’t settle down. Keep on looking for opportunities. This is what Warren Buffett does because he knows that things will eventually turn around.

Buffett is known for capitalizing on opportunities during and after the great recession. Bank of America investment is one of the best examples of this. In his latest annual letter, Buffett said that “dark clouds will fill the sky almost after every decade. But it certainly will rain gold.” So don’t despair, keep on investing.

4. Don’t Worry About the Day to Day Market Movements

Along with other tips, Buffett also said that you must only buy a stock if you are comfortable holding on to it in case the stock market shuts down for a decade. Since you are holding onto the stocks for 10 or more years, there is no point in losing sleep over the minor swings.

Ignore the headlines about the trade wars, the government shutdown, and other chaotic news. Instead, you focus on learning the potential growth of your company over the course of time. The fact is, stock prices keep on changing, but it’s not significant if the company’s business still has a bright future.

“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.” – Warren Buffett

5. Buy Buffett’s Stocks

Buffett keeps everything simple when it comes to investing. If you don’t want to do the guesswork and research to figure out which stocks to buy, simply invest in the stocks Buffett already owns. But, make sure you understand the business. Buffett discloses his holdings publically each quarter. He has capital in companies such as Wells Fargo, Apple, and Bank of America. To keep things simple, you can buy the shares of Berkshire Hathaway itself.

Warren Buffett hasn’t been successful all by himself. He has a team of investors who help him do legal work and give him investment tips. He’s also a part of an advisor network because he understands that an investor needs all the help he can get. It’s amazing that a billionaire like him still listens to others.

Now that you know how to invest like Buffett, it’s time you prepare your investment strategy. These principles are not hard and fast criteria, they are simply a discipline strategy all investors should stick to. Along with these, you can use math, technical analysis, fundamental analysis, and even stock charts to make a decision. You may not end up a billionaire, but you will avoid losses and make more profits than your fellows.

Which one of the 5 key investment principles from above resonated with you most? Let us know below!

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