Three Reasons Why You Need A Book Marketing Plan

A book marketing plan is a critical component to success as a published author.Yet many authors tend to skimp on taking the time to put one together.For one, they may feel that putting together a marketing plan for their book is time-consuming.Or, they may simply find the process too confusing.In this article, you will learn three reasons why you need a book marketing plan if you plan to succeed as an author.Book marketing is important in crafting a strategy to getting your books in front of the right readers. It is important to know exactly how you plan to get your books read.1. A smart marketing strategy will help you to define opportunities that are available to you in your chosen book niche. You will be able to identify these opportunities because you will have to do research while crafting your plan. This research may include locating book clubs that read books in your niche, finding magazines that you could possibly advertise your book in, and so forth.

2. A book marketing plan will help you get clear on your target audience. Your target audience is out there; and they are just waiting to read your book. Your job is to find that audience, and get in front of them. Putting together a marketing plan will help you to find out just who that target audience is, by causing you to do market research. Market research helps you to create a customer avatar. A customer avatar is a fictional person you create that symbolizes the type of person you see yourself working with, or in this case; who you want to sell your books to.Being clear on your ideal audience, aka, your readers, will help you to have laser focus on how and what it is that you need to do in order to reach them.3. Your book marketing plan will help you stay focused on marketing. Yes, you read that right. Your marketing plan will help you to stay focused on task at hand; and that is marketing your book. Marketing is very important. If you don’t learn how to market your book, you will not sell any books, and that is the truth.

Most authors just want to simply focus on writing the book, and not on how they will market it. That is a costly mistake that far too many authors make.Craft your plan to focus on reaching the people who are really looking for your books, and you will see an increase in your book sales.Take the time to work on your plan, and if necessary, get with a marketing professional to ensure that you are addressing every possible outlet that is available, so that you can reach as many readers as necessary.A book marketing plan may indeed take work to put together; however, taking the time to actually put one together will prove to be one of the best decisions you could ever make in your career as an author.

Who’s Financing Inventory and Using Purchase Order Finance (P O Finance)? Your Competitors!

It’s time. We’re talking about purchase order finance in Canada, how P O finance works, and how financing inventory and contracts under those purchase orders really works in Canada. And yes, as we said, its time… to get creative with your financing challenges, and we’ll demonstrate how.

And as a starter, being second never really counts, so Canadian business needs to be aware that your competitors are utilizing creative financing and inventory options for the growth and sales and profits, so why shouldn’t your firm?

Canadian business owners and financial managers know that you can have all the new orders and contracts in the world, but if you can’t finance them properly then you’re generally fighting a losing battle to your competitors.

The reason purchase order financing is rising in popularity generally stems from the fact that traditional financing via Canadian banks for inventory and purchase orders is exceptionally, in our opinion, difficult to finance. Where the banks say no is where purchase order financing begins!

It’s important for us to clarify to clients that P O finance is a general concept that might in fact include the financing of the order or contract, the inventory that might be required to fulfill the contract, and the receivable that is generated out of that sale. So it’s clearly an all encompassing strategy.

The additional beauty of P O finance is simply that it gets creative, unlike many traditional types of financing that are routine and formulaic.

It’s all about sitting down with your P O financing partner and discussing how unique your particular needs are. Typically when we sit down with clients this type of financing revolves around the requirements of the supplier, as well as your firm’s customer, and how both of these requirements can be met with timelines and financial guidelines that make sense for all parties.

The key elements of a successful P O finance transaction are a solid non cancelable order, a qualified customer from a credit worth perspective, and specific identification around who pays who and when. It’s as simple as that.

So how does all this work, asks our clients.Lets keep it simple so we can clearly demonstrate the power of this type of financing. Your firm receives an order. The P O financing firm pays your supplier via a cash or letter of credit – with your firm then receiving the goods and fulfilling the order and contract. The P O finance firm takes title to the rights in the purchase order, the inventory they have purchased on your behalf, and the receivable that is generated out of the sale. It’s as simple as that. When you customer pays per the terms of your contract with them the transaction is closed and the purchase order finance firm is paid in full, less their financing charge which is typically in the 2.5-3% per month range in Canada.

In certain cases financing inventory can be arranged purely on a separate basis, but as we have noted, the total sale cycle often relies on the order, the inventory and the receivable being collateralized to make this financing work.

Speak to a credible, trusted and experienced Canadian business financing advisor as to how this type of financing can benefit your firm.