The advantages of being an author go far beyond royalty income. If you have something worthwhile to say, there are many business gains to be made from writing a book!
In 2006, RainToday.com and Wellesley Hills Group published a study called The Business Impact of Writing a Book, which confirmed my own experiences as an author and professional ghostwriter:
- 94% of respondents reported that their book improved their brand;
- 95% reported an increase in speaking engagements;
- 96% reported more clients;
- 94% reported more leads;
- 87% said they could increase their fees;
- 87% reported a more desirable client base;
- 76% reported that their book allowed them to close more deals.
Writing a book is not an ego trip to be put off until retirement and nor is it a fast track to royalty millions. It’s a very specific marketing and brand-building strategy that can punch well above its weight in terms of business impact.
Here are just a few of the ways that writing a book can transform your business:
More sales and easier sales
A well-written book allows you to showcase your expertise and deliver real value to your reader. It can then be used to reactivate old customers and shorten the buying cycle for new ones. Your book will act like an exclusive business card that no-one throws out.
Ability to charge higher fees
Being an author establishes you as an expert, adds credibility to your offering and increases your profile. As demand for your time, product or service increases you’ll have two choices – become fussier about who you choose as your clients, or increase your fees. Nice problem, huh?
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Additional revenue streams
Creating a book requires you to clearly structure and formulate your intellectual property – a process that often throws up new product development ideas and opportunities.
Your book creates a virtuous circle
With your raised profile you’ll be asked to speak at conferences and seminars more often and will also be more likely to be sought out by the media for expert opinion.
Charles Darwin was nearly beaten to the evolutionary punch because he sat on his theory for years. If you have valuable intellectual property then tell the world about it before someone else does! Few things are more frustrating than putting off writing your book only to be usurped by someone else who goes on to become famous for it.
Your customers and prospects are bombarded with marketing and advertising messages. Everyone wants their attention and everyone wants to sell them something. So how do you stand out from the crowd, gain visibility and generate confidence? Write a book.
If you believe in the value you provide and have plenty of happy clients and successful case studies to share, then writing a book can act as a powerful way to build your reputation and skyrocket your income.
In the meantime though, tell us – do you have a book in you?