Book Review: Think and Grow Rich

Who it’s for: This book is a must-read book for anyone and everyone who wants to succeed in life. It’s a bit dated, but its principles are timeless.Readability: HIGH. It’s a relatively short read meant to be read in multiple sitting to allow the reader to reflect on the information presented.What We liked about it: This book is one of the few books I’ve read. To say it offers significant value for the money is an understatement. The author covers so many topics so densely and vividly, the material requires us to focus on the ideas and concepts presented, sometimes more repeatedly. I find the book to be effective in inducing both reflection and a particular action on the part of the reader minds. I can say that anyone who has read this book must have, in any way, felt a change in their lives.What I didn’t like about it: The title. This book goes far beyond the concept of money. It’s about how we think and how we use should use our own energy. A more suitable title would have been around what you conceive and what you believe to get.Where to find it:Amazon @ $8.99Amazon India @ Rs 75″Think and Grow Rich” is The Guide to set the Thoughts and Actions That Lead to SuccessI just cannot give a short summary of the book as then it would be a disservice of the author. The details are so organised that it keeps the reader intact. The focus is on:


the power of our thoughts, andthe potential we have within ourselvesHill is often seen quoting Carnegie in the book because he is the man who inspired Hill to dedicate much of his life to exploring and communicating the concepts of managing our own thoughts and energy can be life-changing for us.The following are three themes in the book that most resonate with me:The Power of ThoughtThe Power of the SubconsciousThe Power of Purpose1. The Power of Thought: We are what we think. Our thoughts affect how we see the world and how we see ourselves. As a result, our thoughts have a great deal of impact on how we feel and on how much energy we have to deal with a required action or situation. Our thoughts make us more or less responsive and observant of the things, circumstances and people around us. Hill goes as far as stating that this extends to the material world:Thoughts = Things2. The Power of the Subconscious: Where do you get your best ideas? I can almost guarantee you that it’s not while you’re at work. We usually get our best ideas when we’re not consciously thinking about the problem we’re trying to solve or the idea we’re trying to come up with.Eureka moments hardly ever occur while we’re “working hard”, but rather when we’re “hard-working”.Unfortunately, our way of life seems to invite us to ignore both the power of the subconscious mind and the breathing room we need to give it at some point. In order to feed our subconscious, we need to give it:the raw materials it needs to work through (including a clear picture of what problem or opportunity we’re trying to address),little-to-no time pressure, andno attention whatsoever, as it does its work.Think And Grow RichWhen we take time to rest, play, or engage in any day-to-day conversation with others (including mastermind groups), learn from and about the experiences of others lives, we make room for the powerful subconscious to work its magic. The magic? To make connections to ideas that offer solutions we could never have come up with consciously.The author tells it:”You cannot entirely control your subconscious mind, but you can voluntarily hand over to it any plan, desire, or purpose which you wish transformed into concrete form.” (pg. 198)3. The Power of Purpose: Deep down, we know what we want and need to accomplish over the long-term. It might not be crystal clear, but we have a good idea of the direction we want to pursue. Unfortunately, rationalization, self-justification and doubt leads us to second guess it or explain it away, to our peril.


Here’s a quote from the book:”People who do not succeed have one distinguishing trait in common. They know all the reasons for failure and have what they believe to be air-tight alibis to explain away their own lack of achievement.” (pg. 249)When we focus on what we know we need to do, we can more easily establish an action plan and forge ahead. We feel driven, alive, passionate. We have the energy to invest in ourselves and others. We have the energy to grow as a person. We learn what we need to know to be successful, not what others say we should know. We ignore the naysayers and objectors. We’re curious and engaged.Purpose as a Guide = A Fulfilling LifeAnd yes, the author does talk about money and offers many concrete tools and references to allow us to be increasingly introspective and take explicit action. But I think we can all appreciate the broader insights shared above also serve to help us in that aspect of our lives. For more on the money concepts within it, I would suggest reading Chapter 2 titled “Desire”, “The Thirty-One Major Causes of Failure” in the middle of the book and the “Fear of Poverty” section toward the end of the book.

E-Books: Value and Price

For the last several years, the debate has raged over e-book pricing. What is the best price? What is the customer willing to pay? What should the government and courts do to monitor the situation? It can all be confusing and put authors into a tailspin.

While the courts, online retailers, and large publishing companies continue to argue and battle it out, what is the independent author supposed to do? No one has all the answers, but some common sense, a little experimenting with prices, and some knowledge of the industry can help you determine an appropriate price for your e-book. Remember, there is no perfect price for every book; what is a good price for one book may not be the right price for another.

Here are some questions to consider when determining the price for your e-book:

What is the value of your book?

You need to determine your book’s value before you set the price. Did you write a short erotic novel to compete with the other one million out there that you spent maybe a month or less writing? Then its value is probably fairly low because it may not be in great demand. Are you writing a specialized thesis on a topic that has never had a book published on it before-then the value may be very high, although your reading audience may be small. Did you spend ten years writing and researching your book, or did you write it in a week? Can your readers easily get the information in your book elsewhere?

I once told an author her one hundred page history book was overpriced. She replied, “What do you think my book is worth when I spent five years writing and working on it?” Obviously, she perceived her book’s value as high, but her readers, seeing a slim volume that won’t take long to read, may not see it as so valuable. Consider also the value of your reader’s time. Will your reader think it worthwhile to pay $9.99 for something that takes an hour to read? Perhaps time is more valuable than money to your reader so he won’t want to pay $9.99 for what he may perceive as ten hours of work reading your book but he would pay $2.99.

If you insist your book’s value warrants a higher price, you could be right, but you will need to convince your reader of that value through your marketing efforts.

What is the most and least you can charge for your e-book?

Never should you price your e-book over $9.99. While a few major publishers can get away with higher prices for best-selling authors, $9.99 is the limit for most of us because Amazon decided that $9.99 was the cut off for paying out higher royalties. Books priced between $2.99 and $9.99 will receive 70 percent royalties from Amazon, while those over will receive a lower royalty of 35 percent, meaning your $15.00 book will earn you only about $5.00 as opposed to $7.00 for your $9.99 priced book. I won’t speak to every e-book retailer’s pricing model here; you’ll want to look at them individually, but $9.99 is definitely the highest you should go.

The advantage to pricing high is more money per book, but it also means you will likely sell less books. That said, lower priced books might be seen as of less value-being from unknown authors, poorly written, or simply short. To me, anything priced under $2.99 I automatically think must be of lesser quality and that even the author doesn’t perceive its value as high.

If you’re an established author, a middle price of $3.00-$6.99 is reasonable for an e-book and probably will not dissuade most readers from buying your book. Only if you have a book the reader will perceive as having high value should you price it in the $7.00-$9.99 range. A book in that price range should have the value of information worth buying, or you should be a well-established author with a large following-meaning thousands of readers.

How many books do you want to sell?

If you price your book at $0.99, you’ll need to sell ten e-books to equal if you had priced it at $9.99. Possibly, the lower price will make your book attractive enough that you can sell ten times as many books, as if you had left the price at $9.99. If you can sell ten books at $0.99, wouldn’t you be better off because now you have ten readers more likely to read your future books so you can price those higher?

What does the competition charge?

Look up other books in your genre. If you’re a new romance author, what are other new romance authors charging? If you’re writing your third business book and your first one became recognized in the industry, you can probably afford to price your business e-book higher. Price at or slightly lower than the competition for books in the same genre or similar to yours. If a reader sees two books about Lady Jane Grey, and yours is a dollar lower, unless the other book appears to have more information, yours is the one likely to be bought.

Where are your readers buying their books?

While I doubt many of the e-book sellers out there are spending time comparing what you’re selling your e-book for at various online stores, you probably want to be fair in charging the same price across the board. That said, just because your book is at Amazon doesn’t mean that’s where your readers are going to buy it, so make sure you sell it at many sites-Barnes & Noble, Kobo (the Canadian e-book seller), and Google Play (where people with Android phones and tablets are buying). Are you selling to the twenty-year old who is likely to buy at Google Play or are you selling to senior citizens who might prefer to buy at Amazon, which is more familiar to them? Make sure your book is at all places and then price accordingly. Your twenty-year old is a college student with little money so $0.99 is a better price for him, but then most e-book sellers will want you to sell for the same price at all their stores.

Do you have more than one book, especially a series?

If you have more than one book, consider pricing one lower. If you’ve written a series, you might want to give away or price low the first book in the series to sell it. Then if you hook readers with it, they will want to read the rest of the series. If you’ve written multiple books but not a series, I recommend pricing the book you and other readers consider your very best book as the lowest because after all, you want your very best to be what people first experience so you give the best impression and win them over as future readers.

Could you serialize your book, or sell it in individual chapters?

Serialized books-especially novels-have been around for centuries, and recently, more and more authors have started to sell their books as chapters or short installments. If you’ve written a short book-up to fifty pages or so-and it works as a stand-alone piece, price it low, such as at $1.99, and then continue the series at the same price or slightly higher. The reader will be more likely to buy four books at that lower price, if he likes the first one, than buy one book for $7.96 when he isn’t sure he’ll like it, and you’ll still make $7.96 if he ends up buying all four.

How good are you at marketing your book?

Marketing is the bottom line. Whether you price high or low, just because you’ve written a book and made it an e-book doesn’t mean anyone is going to read it. Yes, someone might stumble upon it at an online bookstore and buy it, but if you make a true effort to market it, you’re going to sell more books. If you are good at marketing, you will be able to promote your book as having value and being entertaining, and then perhaps you can price it higher because of that perceived value and higher interest. If you’re not going to spend much time marketing, then price low so the lower prices can help to compensate for your lack of marketing efforts.

Don’t Be Left Behind

No hard rules exist for e-book pricing. Every author needs to determine what works best for his or her individual situation. Try pricing high, and if your books don’t sell, try pricing lower. Be aware of trends or reasons why your e-book might be more popular one month than another-if you’re writing about the American Revolution, you might sell more e-books in June and July around Independence Day than you will in February-so maybe you lower or raise the price accordingly at such times. Develop a strategy, stick with it for a few months, then reassess and readjust your prices accordingly. Whatever you do, remember that e-book sales are now starting to outpace printed book sales, so don’t be left behind by ignoring the e-book pricing question.

Choosing Your Book Format: Hardcover or Paperback

In the past, the decision about a book cover followed a steady pattern with traditional publishers. Most big name traditional publishers would print a book in hardcover, and then some months later, the paperback version would come out. This process was followed for a couple of reasons. A new book, especially by a well-known author, was a collector’s item. The first edition of a hardcover book was something to treasure, and it was often of the highest quality and made to be aesthetically pleasing, including having a dust jacket. People who wanted a book they could treasure for the rest of their lives would buy a hardcover book. But not all readers could afford hardcover books, so a cheaper mass market paperback would eventually follow. Depending on how much value the readers perceived that the book would hold for them, they might opt to buy the hardcover or they might wait for the paperback. On occasions where the hardcover did not sell well, the paperback edition was never released.

As the world of publishing has changed in the last couple of decades, more publishers have begun to bring out only paperback versions for books perceived not to be of such great lasting value, especially in terms of genre books like romance novels and mysteries. This move saves the publisher money and also makes the books available to a target audience that might not have paid as much for a hardcover of a mystery that can be read in just a few hours.

Now that self-publishing has become so popular, and because traditional publishers are struggling to remain financially stable, more and more books are being printed solely as paperbacks because it’s the most affordable choice. However, hardcover books are still chosen for significant titles by traditional publishers, and some self-published authors also choose hardcover books, often in addition, but rarely in place of paperbacks.

In choosing a book cover format, authors should think about the way the book will be used, the practicality of the cover choice, their own printing costs, what price the market will bear, and how potential readers will view the cover. Following is a breakdown of guidelines for choosing a book cover format for self-publishers.

Hardcover
If you are publishing your first book, you probably should keep your costs low until you know your book will sell, so you are better off opting for a paperback over a hardcover book. That said, there are some exceptions to this rule. Hardcover books are often a good choice for:

  • Children’s Books-because children might be rough with their books so these covers will give the book greater endurance.
  • Cookbooks-because a hardcover book can more easily lay flat on a kitchen counter for quick reference while cooking.
  • Coffee Table Books-hardcover books are easier to hold than paperback books because coffee table books tend to be larger than the average size of 6×9 or smaller used for most paperback books.

While most nonfiction titles and novels will do best as paperback books, you might also ask yourself what perceived value your readers will find in the book. How important is your book, and how important will your readers perceive it to be? Putting your ego aside, you need to understand that your readers are probably not going to place as great a value on your romance novel as they will if you write a biography of Mark Twain. The type of cover you use will speak to the reader, telling him how important your subject is. Remember, readers do judge a book by its cover.

One final advantage to a hardcover book is the amount of “selling” text you can place on it. It is possible to print a nice looking hardcover book without a dust jacket so that the front and back material are the same as if you printed a paperback. However, most hardcover books are printed with dust jackets, which allow for more text to be printed on them. A good formula for text on a dust jacket is to fill the back of it with testimonials you’ve collected from other authors or experts in your field. Then the inside front flap can provide a description of your book that might even run over onto your inside back flap. The inside back flap can also provide space for a short biography of the author and room for a color author photo. Room for more text means more space to sell your book to the potential reader.

That said, if you’re like me, you may find the dust jacket gets annoying while you read the book. I have a tendency to remove the dust jacket while I read, but if readers do that, it doesn’t hurt anything once the book has been sold.

Finally, think about the cost to you and the customer. A paperback book is more affordable to authors and readers. However, a hardcover can be produced sometimes for as little as four dollars more, and that cost can be passed onto the customer by selling the book for five dollars more so you still make a profit on the hardcover. The question is simply: Will people be willing to pay five dollars more for the hardcover edition?

Paperback
The paperback cover is most affordable, and except for the few exceptions listed above, it is probably the best choice for any book, especially novels and self-help books and other nonfiction titles. Again, your book will be judged by its cover, so people may perceive your paperback book as of lesser value-meaning they might actually think the content is of less value too-than if it were a hardcover. However, there is no longer any sense that people are “slumming” by buying paperbacks. I don’t know the percentages for a fact, but I would guess that at least 90 percent of books are printed solely as paperbacks today, especially among self-published books.

You have a little less space on a paperback cover to write text that will sell the book, but you can generally fit on the back cover all the information that you would include on the inside flaps of a hardcover’s dust jacket. If you wish to include testimonials, you can place them inside the front cover as the opening pages. I have mixed feelings about placement of testimonials. Many readers will read them in choosing to buy the book, but others will go to the book description first-most people will buy the book because the topic interests them more than because someone famous said the book is great-but having both can only help so it’s up to you whether or not you feel your testimonials deserve back cover space. Often you can fit just one or two short testimonials on the back cover with the description and author bio to balance everything out.

French Flaps
I’m seeing more and more books published with French flaps. This format is basically a hybrid. It is really a paperback book, but the flaps are an extended part of the paperback cover that fold inward to serve as a dust jacket without being removable. French flaps provide the same space as a hardcover for book descriptions without the expense of a hardcover with a dust jacket. A book with French flaps does cost more than a paperback, but depending on how many books you print, it will probably cost you less than a dollar more per unit.

I believe a lot of authors are choosing to use French flaps because they believe this format makes their book look more professional or significant than if it were simply a paperback. Readers may be impressed with the look of French flaps and even see them as a novelty, but frankly, I find such books annoying to read-the flaps have a tendency of wanting to flip up, making the book somewhat unwieldy. This format feels pretentious to me, like such books have delusions of wanting to be hardcover books.

Making the Choice
Personally, a standard paperback is good enough for me with the few exceptions of books I’ve listed where a hardcover is preferable. While I have offered some guidelines here for choices, no two books are the same and special circumstances may exist that would make one cover a better choice than another. Every author must choose for himself which book cover will best suit his book to promote its value as well as be most desirable in format and price to potential readers.

Cleaning Out The Clutter – 7 Steps To Sell Or Donate Used Books

It’s a good feeling to get your house cleaned up and the clutter removed, disposing of things you don’t need or don’t use any longer. And books — those dusty relics taking up space on your bookshelves or squirreled away in boxes in the attic — often become the target of most house de-cluttering campaigns. How long has it been that you’ve read that book? Do you really need it any longer? Why not get rid of it?

But, before you haul those used books off to the dump, take a little time learning about how to sell or donate used books to help local charities raise money, to recycle resources, and even earn some extra cash for your family.

Used books are hot sellers online. Websites like Amazon.com, eBay.com and CraigsList.org are filled with listings of used books. Some popular titles are no longer in print, so their value keeps skyrocketing. Some niche titles are collectible or hard-to-find. Some titles contain in-depth ‘how-to’ information people are searching for online. And, some titles simply help people save money by buying used over pricier new books.

In any case, take the time to follow these 7 steps to check typical pricing of used books before you dispose of them.

Step 1 – Gather your books you want to get rid of in one space, preferably one that has a large table for your to work. Your dining room table will do just fine.

Step 2 – Separate out fiction from non-fiction. The best titles to sell online are non-fiction, ‘how-to’ titles.

Step 3 – Sort the fiction titles into two boxes: Keep and Yard Sale. In the “Keep” box, I would put early or first editions of famous writers like Mark Twain, Ernest Hemingway and Rudyard Kipling. In the “Yard Sale” box, I would put popular fiction by authors like Dan Brown, Nora Roberts, Stephen King or Sandra Brown, plus anything from book clubs, slightly damaged books, recipe and cooking books, weight loss books and the stacks of magazines you want to get rid of fast.

Step 4 – Sort the non-fiction into two boxes: Keep and Yard Sale. In the “Keep” box, I would put biographies, history, how-to, pet, religious, UFO alien and crop circle books (big sellers!), relationship books, travel books, homeschooling topics, and any other books which look to be of a limited press run or contain unique content. Sometimes even small booklets on health topics sell very well online. In the “Yard Sale” box, put in Time-Life, Rodale Press, or Reader’s Digest books (these seldom sell online for enough to cover your shipping costs), books that are heavily marked up with writing or highlighting, outdated college textbooks, and heavily used children’s books, dictionaries, or self-help reference books.

Any damaged books, moldy books, or those titles that have torn, crinkled covers or are missing pages, throw them away now.

Step 5 – Sit down in front of your computer. Log onto Amazon.com with your “Keep” box on one side of you, and your “Yard Sale” box on the other side of your chair. Take the first book from the “Keep” box and set it next to your computer keyboard, face down. Somewhere on the back cover you should see an ISBN (“ISBN” stands for “International Standard Book Number,” which since the mid-1960s has helped the publishing industry keep track of millions of books).

Type that book’s unique 10-digit (sometimes a 13-digit) ISBN into the search bar at the top of the Amazon.com webpage. If you cannot locate the ISBN on the back cover or on the book publisher info page, then simply type in the title of the book, as you might very well find it that way too. Scan through the results until you find the book that matches the front cover of your book.

Now, click on the image or the book title, find the correct format (hardcover or paperback) and then select “Used” pricing. Your used book results page should deliver several pages of book listings for sale right now.

Don’t be surprised if the first few books are priced a $.01. Scroll down the page. If by the 5th or 6th listing you start to see pricing rise up to $6, $7, $10 dollars, keep it and list it for sale later. You’ll earn anywhere from $3 to $7 each when these sell. If you see the first two pages containing nothing but $.01 books, then place your book in the “Yard Sale” box to the side of your chair. Click back to the Amazon homepage. Pick up the next book. Repeat until you’re finished.

Step 6 – When you’re done, your “Keep” box stack will be quite small compared with your “Yard Sale” boxes (yes, you will have more than one by now!). Pack those boxes tightly, tape them up well with packing tape, and store them in a closet or corner of a room in your home that is dry, out of the sun, and has low humidity. When springtime comes and you hold a big yard sale to dispose of unwanted items, unpack all your “Yard Sale” fiction and non-fiction book boxes, set them out on a long table, spine facing up, and sell them for 25 cents to $1 each. On the final day of your sale, offer up a “bag sale” — that is, let people stuff a shopping bag full of books into a bag for $2. You’ll be amazed how many books will fly off that table!

Step 7 – When the yard sale is done, take the remaining fiction and non-fiction books to your favorite local non-profit thrift store or church charity shop to donate them. These old books often have a long lifespan, kept alive by browsers who frequent these stores looking for bargains and wanting to help support the non-profit. Ask the store manager if you can get a donation tax receipt before the books get unloaded. I have done this in the past, and I’ve gotten a generous tax deduction on books I would otherwise have had to haul off to the recycling center. Remember first to dispose of any soiled, moldy books, otherwise you’ll be burdening the charity shop instead of helping them.

Now, somewhere in the steps between when you checked the online price for your used books and you haul the unwanted old books off the charity shop, you’ll want to keep busy in your spare time by listing the books left over in your “Keep” boxes at online websites to raise extra cash.

I recommend listing on the Amazon Marketplace, then expand to other websites if you need to. Start slow, learning how the system works, and price your books competitively to move them quickly.

By considering the sales rank of your book, you’ll have a fairly decent idea of how quickly it will sell. If it is in the top 100,000 of Amazon sales, it should sell within 1-3 months. If a title is selling used for $7.50, price yours at $6.99. If a title is selling used at $20 or more, drop yours to $12-$15 for a quick sale.

My advice is that you not list your “Keep” books at less than $5.99, as you won’t earn much more than $2 each, and you’ll be running yourself ragged running back and forth to the Post Office. Likewise, I would not bother posting a book that has a sales rank above 5 million, as this book likely will add to your clutter forever, instead of leaving your home more open and less crowded — your ultimate goal in your home improvement housecleaning exercise in the first place.