SPS 147: From Reading “Published.” To 50,000+ Copies Sold (How I Did It) with Rachel Richards

Posted on Sep 25, 2022

Rachel Richards is the author of Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together and Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!). Both books have done really well. At the age of 27, she quit her job and retired. She now lives off of over $15,000 a month in passive income. She’s on a mission to empower female Millennials to take control of their financial future.

I remember meeting Rachel at a Hal Elrod conference. Rachel had read the first edition of Published and used that information to write and publish Money Honey. We are going to talk about how she used Published to write and publish her book. We are also going to talk about how her book sold so well. She also has over 2,000 cumulative reviews on her books. We’ll definitely dive into that. We’re also going to talk about her social media including Instagram and TikTok, along with audiobooks.

Rachel shares her story of how she self-published Money Honey in 2017, and how writing a book was something that she always wanted to do. In the past, she was a financial adviser and really had a passion to help people with their money, but she didn’t want to do cold calls. She found Published on Amazon and followed the book and wrote her draft. When we met she said the book had such an impact on her life. Her books bring in between $4,000 and $10,000 a month in profit. It’s completely changed her life. We talk about everything about her publishing and financial independence journey. 

Show Highlights

  • [05:18] Rachel’s writing style is taking complex topics and making them simple and sassy.
  • [06:23] She did what she could to make personal finance fun instead of boring. 
  • [07:18] She followed the free launch strategy. She had no platform. She was playing the long game. 
  • [09:04] She also gained credibility by answering finance questions in a Facebook group. She used her fans in the group to help, similar to a launch team. She also did one-on-one outreach. She gave the book away for free and asked for free reviews.
  • [13:05] She also had freebies in her book with an automated welcome sequence that asked for reviews. 
  • [15:51] When she released her audiobook, it was almost like a new launch. 
  • [19:24] Her TikTok and Instagram platforms grew after her book launched. The platform’s growth helps sell books every year. She wanted to offer people as much value as possible so she created a course. She also has a real estate course and a mastermind.
  • [20:35] She uses Instagram to give a lot of value and to share a lot of content. She’s always trying to add value and make people laugh. It’s also a way for her readers to connect with her personally.
  • [22:02] Her TikTok success was an accident. She made silly content for her sisters. One accidently went viral, and she ended up with 35,000 followers. 
  • [27:08] Rachel relaunched Money Honey, she wanted to fix her interior and change her autoresponder. She also got a new professional cover. She also updated a lot of the financial stuff, statistics, and she added a forward. 
  • [30:23] Paula Pant wrote her new forward. 
  • [32:42] Published was so helpful because it laid the groundwork. The mind map really helped take all the ideas into a finished project
  • [34:52] Parting advice includes having more confidence in yourself. Believe in the outcome and what you are doing.

Links and Resources

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Brittany

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