| The trouble with publishing a book, from a | | | | finished product goes back into the original box |
| first-time writer's point of view, lies with the | | | | and is shipped without further packaging. |
| slowness of the publishing industry. Once written, | | | | Because I wanted to use slow motion for this last |
| the book has to be accepted by a publisher, | | | | video, I took all the footage to the racetrack |
| rewritten according to the editor, then scheduled, | | | | video lab (a great place to get access to |
| manufactured, distributed, and marketed. Most | | | | expensive video equipment on the cheap) and had |
| books don't get much in the way of marketing. | | | | all the footage moved up to one-inch tape, then |
| Years later, with the very best of luck, the | | | | dropped to standard VHS in slow motion - all for |
| author begins to see some small reward for his | | | | $200. From the original HI-8 tapes, and the |
| efforts. Maybe $5,000 if he or she is very lucky. | | | | converted slow motion stuff, I built my master |
| If your first book isn't profitable for a publisher, | | | | and dubbed in the narration and background music. |
| you may never have the opportunity of having | | | | You have to keep in mind that this is a tiny |
| another published. | | | | business for profit, not Walt Disney Studios. Profit |
| Self-publishing is a better route because the | | | | will come from delivering large bodies of valuable |
| author typically knows his audience and how to | | | | information, not fancy video effects, super quality |
| reach them. But the up-front costs of a $5,000 | | | | production, or beautiful packaging. Once your |
| printing can be $30,000 or more, and the | | | | customers trust you, your packaging doesn't |
| marketing costs can run quickly into five figures | | | | matter at all. Almost everyone trusts a company |
| as well. Any books that go unsold are "dead | | | | that gives written guarantees and takes credit |
| inventory" or wasted money. | | | | cards. |
| I have written, self-published and marketed four | | | | EQUIPMENT |
| books, all dealing with exercise physiology and | | | | Your original footage should be of high quality |
| race horses (a very narrow and specialized | | | | because as you move from original to master a |
| market). Two made money, two didn't; one of | | | | copy, you're going to lose some video quality. In |
| them was a total loss and didn't even bring back | | | | order to avoid paying big bucks for professional |
| publishing costs. Still the two winners produced a | | | | equipment, my advice is to start with a Hi-8 or |
| net profit exceeding $200,000 over four years, | | | | super 8 CCD camcorder with a lux rating (low |
| and both are still selling today. The first book, The | | | | light capability) of four or less (Your video dealer |
| Fit Racehorse, originally sold for $55 a copy. My | | | | can assist you in choosing equipment). For higher |
| most recent book, The Racehorse Owner's | | | | quality productions and more up-front expense, |
| Survival Manual, is the other winner and sells for | | | | you can rent studio equipment, studio personnel, |
| $59.95. The smaller the market, the more | | | | and even a radio announcer's voice. If you're |
| specialized and valuable the information, and the | | | | highly organized, know precisely what you want |
| bigger the retail price. | | | | to shot, and how you might get by with a |
| A BETTER WAY | | | | one-day, or two half-day studio rental fee. That's |
| There's a better, easier way to make money in | | | | $2,000 to $3,000 in most cities. |
| self-publishing. A reasonably talented | | | | SELLING: CUSTOMER AND PRICE |
| communicator with specialized knowledge of the | | | | In your direct mail and print advertising the offer |
| value to others is more likely to see big profits | | | | has to be irresistible. You have to guarantee and |
| from his efforts if he chooses instead the | | | | deliver satisfaction. You have to make the act of |
| medium of video. Today, almost everyone who | | | | purchasing easy by honoring credit cards and |
| has indoor plumbing has a videocassette recorder | | | | providing an 800 number. Your advertising should |
| player (VCR). The six months to a year needed | | | | be targeted precisely at your potential customer: |
| to write a book can be condensed to six weeks | | | | it's unlikely you'll be able to sell a gardening video in |
| of planning, writing, taping, and editing a self-made | | | | a motorcycle magazine! Before you begin work |
| video. | | | | on any video, plan your marketing approach. |
| I've "published" twenty-eight videos and the | | | | I use an computer for keeping track of my |
| monthly income from them has been between | | | | customer list and a laser printer for producing all |
| $8,000 and $20,000 for more than four years | | | | my fliers and the documentation that I send along |
| now. Most are still selling (four are new and just | | | | with the videos. This documentation helps the |
| going on the market), none have lost money, and | | | | videos "stick," providing and extra unexpected |
| I have never had any inventory except for a | | | | bonus for the customer, and virtually eliminating |
| supply of blank tapes. The unsold copies of my | | | | returns. Essentially, the documents are close-ups |
| two failed books, in contrast, represented some | | | | of the subject matter included in the video, |
| $40,000 in unrecoverable up-front costs. From | | | | getting down into detail that perhaps the tape |
| now on, I'm going to let someone else publish and | | | | could not deliver - sometimes charts and graphs. |
| market my books, and I'm sticking to the | | | | One-third of my business is wholesale sales. My |
| self-published video business, where the real profit | | | | print ads complete for business with those of the |
| is. | | | | retail accounts I service. When I introduce a new |
| HOW IT'S DONE: THE SUBJECT | | | | video, I first offer it to my old direct mail |
| The first rule of thumb is teach what you know | | | | customers at a discount in a "pre-release special." |
| or what a friend of yours knows. My most recent | | | | The prices of my videos are always high. I want |
| tape, Exercise Rider, the Good, the Bad, and the | | | | to make a profit and I want my retailers to make |
| Ugly, has returned more than $20,000 in three | | | | a profit. The lowest price I've ever put on a single |
| months - and I don't know how to ride a horse. In | | | | video is $39.95; the highest, $99. Thus, when a |
| fact, a friend who likes to visit racetracks took | | | | wholesale customer orders, say a dozen $39.95 |
| the original footage on a Hi-8 Cannon camcorder. | | | | tapes, they'll send me $240, while a dozen direct |
| I sent videos of fifty racetrack exercise riders to | | | | mail sales of the same video will bring in $480. |
| several friends who are experts in the field. They | | | | Remember that you can always lower a price, |
| critiqued each rider, talking into a cassette | | | | but just try to get away with raising it! But THINK |
| recorder as they watched the footage. I listened | | | | before you lower a price. At one time, I thought I |
| to the critiques and built my voice-over from | | | | had nearly exhausted the market for a pair of |
| them. The $69.95 ninety-minute tape is getting | | | | my $99 videos since their sales had plummeted I |
| raves from buyers, all of whom are guaranteed | | | | then cut the price in half, confident that sales |
| satisfaction. If they don't love the tape, they can | | | | would go up. That was two years ago. The tapes |
| send it back within thirty days. Not one has been | | | | are still selling, but at the same slow rate - and |
| returned as of this writing. | | | | now my profits are at a lot lower too. I made the |
| If you deliver valuable information, in quantity, in a | | | | mistake by dropping the price on them. |
| reasonably decent production, your production will | | | | THE MARKETPLACE |
| stick. If you go for effect, but deliver drivel, or | | | | You may feel, especially after browsing through |
| plain erroneous or incomplete information, the | | | | specialty video catalogs, that everyone has |
| customers will be enraged. They'd much rather | | | | beaten you to the punch. You may think that big, |
| buy and keep an amateur production which fills | | | | sophisticated studios are producing the only videos |
| informational needs than one that's pretty, but | | | | that consumers will buy. What you must |
| shallow. | | | | understand is that a whole new marketplace is |
| HOW IT'S DONE: PRODUCTION | | | | out there, and there isn't nearly enough material |
| As I mentioned above, the raw footage for my | | | | to satisfy it. |
| most recent tape was taken with a | | | | Information is information, no matter who delivers |
| consumer-type camcorder. My first tape was | | | | it. Major studios feel they cannot waste their |
| taped with an older Panasonic camera and | | | | resources on small projects that might require |
| recorder. By today's standards, the results were | | | | specialization outside of videography. If they |
| blurry pictures with mumbly sound, but the tapes | | | | wanted to produce a video on cabinet-making, |
| did sell and most stayed sold. | | | | they would have to locate a cabinetmaker, pay |
| At home I Have a JVC VHS editing console that | | | | for his time and materials, and using their millions |
| cost me $5,000 new, and five JVC HQ consumer | | | | of dollars worth of high-tech gear and expensive |
| decks for making copies. I "assembly edit" the | | | | technicians begin production. Meanwhile Joe |
| master tape, videos first, then add voice and | | | | Cabinetmaker, on Elm Street, has made a nifty |
| sometimes music. Labels are printed by a | | | | little video that is informative and enjoyable to |
| typewriter with memory (you can do any number | | | | watch. |
| of the same label with just one command). The | | | | |