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Million Dollar Producer Show
065: Insights from "The Short Book Formula (Second Edition): A Financial Professional's Guide to Writing a Book in 6 Weeks to Attract Ideal Clients" by Paul G McManus
Can financial professionals become go-to experts without resorting to hard-sell tactics? Tune in as we uncover the secrets behind Paul G. McManus’s short book formula, a strategy that has generated over $100 million in revenue. We'll discuss how keeping your book concise, writing in plain English, and targeting a specific niche can transform your financial services business.
Learn more at: https://www.theshortbookformula.com
Claim your free audiobook copy at: www.theshortbookformula.com
OK. So let's be real for a sec. I don't think anybody and I mean nobody gets into financial services because they're like, oh yeah, give me all the cold calls and spreadsheets, Right? No, not really. But what if I told you there's this whole other way to become the go to expert, Like you're attracting your dream clients without all the icky sales stuff. Sounds too good to be true, right? Well, that's exactly what we're diving into today. We're talking about the short book formula by a Paul G McManus. Ever heard of it? Oh for sure, Paul's a legend, Right, and for good reason. This guy's helped financial pros people like you listening right now rake in over $100 million in revenue using these strategies.
Speaker 2:And we're not just talking pie in the sky stuff here. This is real world results.
Speaker 1:Hundred million dollars. That's not chump change. Ok, I have a confession. The idea of writing a whole book used to make me sweat. Big time Seemed like I don't know something. Only famous CEOs or those crazy talented writers could pull off. You know. You'd be surprised how many people feel that way. Actually, mcmanus talks about how a whopping 91 percent of people get this.
Speaker 2:They is, and it highlights something super important People are busy. We've got to respect their time and deliver value fast. That's the beauty of this whole short book approach.
Speaker 1:Short and sweet, I like it, but OK, why a book at all? We're talking financial services here. Why is authorship the game changer?
Speaker 2:Think about it Financial advice, it's not just about numbers, is it?
Speaker 1:Definitely not.
Speaker 2:It's about trust. When you're handing someone the keys to your financial well-being, you want to know they get you right.
Speaker 1:Absolutely.
Speaker 2:A book does that. It shows people, hey, this person's not just crunching numbers in a vacuum. They get my goals, they understand.
Speaker 1:It's like that, saying people don't buy what you do, they buy why you do it.
Speaker 2:A book gives you that space to dig into your why Exactly and get this.
Speaker 1:Mcmanus found that 96 percent of authors said their book got them more clients 96 percent, that's almost everyone.
Speaker 2:Right? 87 percent said they could charge more because of it. And hold on, are you ready for this one? 94 percent said it boosted their brand like big time.
Speaker 1:OK, those numbers speak for themselves, but you know what really drives this home for me? The story of Steve, the CPA, who became the go-to expert for dentists like the wealthy ones. And it all started with his book.
Speaker 2:Steve's story is awesome. Before the book he was just another CPA. Then he realizes, wait, affluent dentists. They have unique financial needs. So he writes a book just for them and boom, he's not competing on price anymore, he's the expert.
Speaker 1:He found his niche and it wasn't trying to be everything to everyone. He honed in on that. Ok, so we've established why authorship is powerful, but let's get into the nitty gritty. What's the secret sauce? What's this short big formula all about?
Speaker 2:Secret sauce. Huh, I like it. Well, it all boils down to five main things. We're talking, keeping it short, writing super clearly, finding your tribe embracing audio huge one and then not trying to do it all alone.
Speaker 1:Okay, I'm all about short and sweet these days. My attention span, let's just say it's seen better days. So how short are we talking really?
Speaker 2:McManus. He says aim for somewhere between 12,000 and 25,000 words.
Speaker 1:Okay, that's manageable.
Speaker 2:Exactly, it's a book someone can actually finish, not something they use to prop open their window.
Speaker 1:Ha ha. No more doorstop manuscripts. I like it. Okay, and this whole writing clearly thing Do I need to start channeling Hemingway and talking about like bull markets and matadors?
Speaker 2:No need for bullfighting metaphors. Mcmanus calls it seventh grade clarity, which basically means right like you talk to a client, not like you're presenting at some stuffy conference.
Speaker 1:So plain English it is.
Speaker 2:Gotcha.
Speaker 1:Okay, we've got short and sweet, crystal clear what's next.
Speaker 2:Finding your tribe. This is where you get laser focused on who you actually want to reach. Remember Steve, our CPA, who totally nailed it with those affluent dentists.
Speaker 1:Oh yeah, he was laser focused.
Speaker 2:He found his tribe spoke directly to their needs, Boom.
Speaker 1:So smart. It's about becoming indispensable to the right people, not trying to be everything to everyone.
Speaker 2:Yeah, 100 percent, though I know what you might be thinking.
Speaker 1:What's that?
Speaker 2:What if you're not even sure who your tribe is? Yet?
Speaker 1:Oh for sure. What if you work with lots of different clients?
Speaker 2:Right, that's where McManus suggests something called insights interviews.
Speaker 1:Okay, what's that?
Speaker 2:Basically, you have conversations with your ideal client or someone you'd love to have as a client and you really dig deep. What are their biggest financial pain points? What are they really hoping to achieve? Even their fears, right? So it's like market research, but way more human, exactly, and you get real stories, insights that can inform your whole book.
Speaker 1:Love that Stories are everything.
Speaker 2:They are, and sometimes it even leads to major shifts in perspective, like there's the story in the book about Michael Budnick. He wanted to write this book called Smart Nurses Finish Rich.
Speaker 1:Kitchy title.
Speaker 2:Right. But turns out nurses weren't as motivated by striking it rich as they were by, like, achieving financial peace of mind, security Interesting. So he renamed it the Prosperous Nurse, which resonated way better.
Speaker 1:Wow, talk about the power of actually listening to your audience.
Speaker 2:It makes all the difference.
Speaker 1:Okay, so we've tackled three principles Keep it short, write clearly, find your people. What's this about? Embracing audio and all ears, literally Huge podcast fan.
Speaker 2:Me too, and the numbers don't lie. Mcmanus talks about how Nielsen found a 92% completion rate for audiobooks, compared to like what 8% for regular books.
Speaker 1:That's 92% Get out of here.
Speaker 2:I know right, but it makes sense. Think about it. Our ears are free way more often than our eyes are.
Speaker 1:That's so true. We're always multitasking, listening on the go.
Speaker 2:Exactly, and let's be honest, sometimes it's just nice to have someone else do the reading for you 100% Okay.
Speaker 1:That brings us to Don't Go it Alone. Music to my ears, because the thought of writing a whole book solo about as appealing as I don't know doing root canal on myself. That bad, huh, maybe worse. But seriously, tell me more about the support system.
Speaker 2:Well, mcmanus is a big believer in having a team. He actually offers two different author programs Premium and Elite, each one's tailored to different levels of support. Okay, walk me through it. What are the differences Like? What am I getting with each one? So, premium think of it as your express lane to publishing. It's streamlined, perfect. If you want to get your message out there fast we're usually talking 12,000 to 15,000 words. Want to get your message out there fast? We're usually talking 12,000 to 15,000 words. Elite, on the other hand, that's for those bigger ideas, more in-depth explorations, books usually land somewhere between 15,000 and 25,000 words Got it.
Speaker 1:So whether I want a quick hit or a deep dive, there's an option. But paint me a picture here. What does the actual process look like? Is it all deadlines and spreadsheets, or Not quite.
Speaker 2:It's actually super collaborative. It all starts with what McManus calls a fast start assignment.
Speaker 1:Fast start assignment Sounds intense.
Speaker 2:Don't worry, it's not Think of it like jotting down your initial thoughts, just getting those ideas flowing. You actually do this before your first coaching session.
Speaker 1:OK, so it's like prep work.
Speaker 2:Exactly. Then in that first session, you and your coach, you'll review everything, really nail down your vision for the book.
Speaker 1:Make sure we're on the same page.
Speaker 2:Exactly. It's all about establishing that clear blueprint. Then your coach creates this personalized author workbook for you.
Speaker 1:Author workbook. Now that sounds scary.
Speaker 2:It's not, I promise. Think of it like a roadmap, but for your book. Keeps you focused, breaks everything down into manageable steps. No more feeling overwhelmed.
Speaker 1:Okay, I can get behind that. So I got my roadmap. What's next?
Speaker 2:This is the cool part the next three Zoom sessions. They're all about talking out your book.
Speaker 1:Wait what, so I don't have to start writing right away? Nope.
Speaker 2:You basically just have in-depth conversations with your coach about your expertise, your insights. The best part, these calls they're recorded and transcribed, so nothing gets lost.
Speaker 1:Hold on, so I don't even have to worry about taking perfect notes.
Speaker 2:Exactly. It's like having a personal stenographer capturing all your golden nuggets. I am loving this more and more. Okay then what? Then the expert writing team steps in. They take those transcripts and transform them into a first draft of your book.
Speaker 1:Wait, hold up. So no staring at a blank page for hours on end.
Speaker 2:Nope, they handle that heavy lifting. And once that first draft is ready, you get to review it with your coach, make notes whatever you need.
Speaker 1:So I actually have a say in the final product.
Speaker 2:So I actually have a say in the final product. Absolutely, it's your book. Your voice is super important throughout the whole thing. This actually leads into the next two Zoom sessions, which are all about substantive editing.
Speaker 1:Okay, substantive editing. That sounds kind of intimidating. Like is my work about to get ripped apart.
Speaker 2:Not at all. It's more like polishing a diamond. We're making sure your message is clear, your points are strong and the writing is engaging.
Speaker 1:Gotcha, so not tearing me down, just building me up.
Speaker 2:Exactly, and after those sessions, the team takes your feedback, incorporates everything and creates a second draft for your final approval.
Speaker 1:Wow. Okay, this is way more collaborative than I expected. But what about the actual publishing part? Am I on my own for that?
Speaker 2:You're covered there too. Mcmanus's team handles all of it the formatting, cover, design, choosing the right platform, the whole nine yards.
Speaker 1:Music to my ears.
Speaker 2:Yeah.
Speaker 1:But what about marketing? Any magic formulas for becoming a bestseller, or is it just luck?
Speaker 2:Well, luck might play a small part, but McManus and his team. They've got strategies that really work. They help you create a whole pre-launch plan, optimize your books listing, even tap into tactics for hitting those bestseller lists.
Speaker 1:Okay, I'm liking the sound of this more and more, having that expert guidance through the whole process. Game changer.
Speaker 2:Right and throughout the book McManus, he's very clear that this can all be done in as little as six to 12 weeks.
Speaker 1:Really that's, it.
Speaker 2:That's it.
Speaker 1:So in a few months I could go from I think I have a book in me to I'm a published author. But realistically, how much time am I actually spending on this each week?
Speaker 2:McManus breaks it down for you that first fast start assignment, maybe an hour or two tops, then you've got your six weekly Zoom calls, which total six hours. He also suggests setting aside an hour or two each week to work on your author workbook. So another three to six hours there. Then of course you'll need a little time to review those drafts.
Speaker 1:So all in all, maybe 15 to 20 hours over a couple of months.
Speaker 2:Something like that.
Speaker 1:You know, when you put it that way, it actually feels, dare I say, it doable, right, you know, when you put it that, way it actually feels.
Speaker 2:Dare I say it doable Right and the return on investment. Huge McManus emphasizes that your book. It should be viewed as a business asset, not just a vanity project.
Speaker 1:Makes sense, especially with those crazy stats. We talked about 96% of authors getting more clients.
Speaker 2:Exactly A well-written book that's positioned strategically. That's a powerful tool.
Speaker 1:For sure. Okay, let's say I'm in sold, but I'm drawing a blank on what to write about. Help.
Speaker 2:That's super common. Don't worry, mcmanus actually dedicates a whole chapter to helping you pinpoint that one big idea.
Speaker 1:Okay, because I have a feeling this is where a lot of us financial folks get stuck. We know our stuff, but we're not all walking around with those earth shattering. This is going to change the world of finance ideas, you know.
Speaker 2:Right and McManus gets that. He says think about the biggest lesson you've learned in your career or the most common problem your clients face, the one you're constantly solving.
Speaker 1:Or even like a misconception in the industry, something you're always debunking.
Speaker 2:Yes, it's all about tapping into that unique perspective. You have the thing that makes you you.
Speaker 1:So it's less about reinventing the wheel and more about sharing my own personal spin on things. Exactly, and don't forget about those insights interviews, the better you know your ideal reader, the better you can tailor your message to really resonate, because a book that speaks directly to my ideal client is going to be way more effective than some generic financial planning 101 guide.
Speaker 2:A hundred percent.
Speaker 1:Okay, so I've got my one big idea. I've talked to my ideal clients, my author workbook is bursting with no's. I'm feeling good. But what about that little voice of self-doubt? How do I quiet that down?
Speaker 2:Oh, that voice is a real pain, isn't it? Almost everyone deals with imposter syndrome at some point. You are not alone.
Speaker 1:Good to know it's not just me.
Speaker 2:Not at all. And McManus, he reminds us that those feelings, they often get louder when we try to do everything ourselves.
Speaker 1:Which is where having that support system is so key.
Speaker 2:Right. That guidance, that encouragement makes all the difference when those doubts start creeping in.
Speaker 1:Okay, so I've pushed past the self-doubt. My book is finished, published out in the world. Now what? How do I actually use this thing to grow my business?
Speaker 2:Now the fun really begins. Mcmanus has a whole section on this leveraging your book for max ROI and it goes way beyond, just like selling copies on Amazon.
Speaker 1:OK, tell me more.
Speaker 2:It's about using your book to connect with people, build relationships, establish yourself as the expert in your niche.
Speaker 1:So it's not about becoming a New York Times bestseller. It's about using my book as a tool to attract the right people.
Speaker 2:Exactly Client meetings, networking events, speaking gigs, you name it. He even talks about creating a virtual speaking tour.
Speaker 1:A virtual speaking tour. What is that like a webinar series?
Speaker 2:Kind of Think of it like a strategic podcast takeover.
Speaker 1:Oh interesting.
Speaker 2:Yeah, mcmanus is a huge proponent of leveraging podcasts to reach your ideal audience. You go on shows they're already listening to talk about your book and boom instant credibility.
Speaker 1:Borrowed authority. I love it, but how do I even get on these podcasts? Do I just start emailing hosts out of the blue?
Speaker 2:You can, but McManus actually recommends working with a booking agency, especially if that whole cold outreach thing isn't really your jam Makes sense.
Speaker 1:They've got the connections. Okay. So I'm on a podcast killing it, and then the host asks where can people find you? What do I say?
Speaker 2:That, my friend, is where having a book centric website or landing page comes in handy. You direct them to a page where they can download a free chapter, learn more about what you do, maybe even schedule a call so strategic it's like laying out the red carpet for them. I love this whole approach. It's so much more than just writing a book.
Speaker 1:It's about that's the short book formula in a nutshell.
Speaker 2:You know it's funny, as we've been talking about all this, I keep thinking this isn't just for financial advisors, right?
Speaker 1:Oh, absolutely not this formula. It's like a Swiss army knife for anyone in finance who wants to, you know, build their authority, get those ideal clients knocking.
Speaker 2:Right CPAs. Insurance agents, mortgage brokers, even like financial educators, could use this.
Speaker 1:Exactly. It's about positioning yourself as that go-to expert.
Speaker 2:And it's not just for the seasoned veterans either. Someone just starting out, this could be huge for them, couldn't it?
Speaker 1:Huge. Think about it. A book right out of the gate. Instant credibility sets you apart. It's like, instead of dress for the job you want, it's write the book for the practice you want.
Speaker 2:I love that, and because McManus focuses on those shorter punchier books, it's actually more achievable for someone who's still building their client base.
Speaker 1:That's a great point. You don't need decades of experience or case studies to make this work.
Speaker 2:Exactly.
Speaker 1:It's really empowering Anyone with a passion for finance, for helping people, they can use this 100%.
Speaker 2:And McManus. He even encourages us to think beyond just one book. Think more like building a body of work.
Speaker 1:So it's not about writing the be all, end all guide and then peace out. Nope, it's about constantly evolving, sharing those new insights, staying ahead of the curve.
Speaker 2:Exactly. He actually compares it to authors like Seth Godin or Brene Brown. They're constantly putting out content staying top of mind.
Speaker 1:And they've each carved out their niche. You know what you're getting with their books.
Speaker 2:Right, it's about building that recognized expertise.
Speaker 1:So it's not just about staying relevant, it's about becoming the voice, the authority.
Speaker 2:Exactly, and McManus argues that financial pros, they can do the same thing. Use this formula to put out high quality books regularly.
Speaker 1:Which makes it less daunting. Honestly, it's not this one massive undertaking, it's a process.
Speaker 2:Right and think about it. Each book you publish, it actually reinforces the authority of the ones that came before.
Speaker 1:It's like this awesome snowball effect you become the resource for your specific thing.
Speaker 2:Exactly, and it helps you stay ahead of the curve too, because finance it's always changing New tech, new regulations. It's a lot.
Speaker 1:Tell me about it Just when I think I've got a handle on things. Curveball.
Speaker 2:Right. But by publishing these short, targeted books you can address those changes head on. Show your clients you're not just keeping up, you're leading the pack.
Speaker 1:So it's not just about being relevant, it's about being a thought leader, the one with the crystal ball guiding clients through whatever comes next.
Speaker 2:Exactly, and I think that's one of the most powerful things about McManus's message this idea that authorship it's an ongoing journey, it's growth, it's service, it's leaving a legacy.
Speaker 1:Leaving a legacy. I like that. Well, I don't know about you, but I'm feeling pretty fired up, ready to brainstorm some book ideas.
Speaker 2:Me too. And remember, whether you team up with McManus' team or go it alone, you have the power to make this happen. You can transform your practice, achieve those big dreams.
Speaker 1:So no more excuses, Grab a copy of the short book formula, embrace this whole authorship thing and let's get writing.
Speaker 2:Yes, we're cheering you on.
Speaker 1:And that, my friends, brings us to the end of our deep dive. We hope you found this exploration of the short book formula insightful, maybe even a little inspiring, and remember the most important book you'll ever write it's the one you haven't started yet.
Speaker 2:Until next time, keep diving deep, keep learning and keep sharing that expertise.