There are so many reasons for entrepreneurs and business owners to consider writing as a means to uplevel their business. Here’s just a handful of them.
- Share Your Message with the World: Don’t we all get into business to change the world? To make an impact? To leave it better than we found it? That’s what keeps most business owners going when times are hard and/or money is tight. Consider the opportunity for impact you have when someone holds your book in their hands. It goes beyond seeing your info posts on social. Now, they’re truly hearing and absorbing the message you want to share.
- High Risk = High Reward. Whether you are signed by a “Big Five” publisher, are self-publishing, or, like many of us, are getting help along the way (ie. from a hybrid publisher), writing a book is not for the faint of heart. It takes courage, expertise, and a willingness to be vulnerable. It also takes time – to dream, to write, to edit, to launch, to show up in the world via social and podcast interviews, etc. And, of course, it takes money – to produce, market, and publish. But the rewards. Aaah. That’s another sort of magic (iykyk)… Seeing your book on the shelf at Barnes & Noble or Indigo, having readers tell you that your words changed their lives, and having readers become lifetime clients. There’s nothing else like it.
- Sales from Books: There are a multitude of ways to generate revenue with books, one of which is via book sales in stores. There are also sales at book signings. In reality, for most authors, writing isn’t about sales. It’s about making a difference. They’re happy just to break even. Others bring in more from their books than business.
- Expert Status: Publishing a high-quality, professional-looking, well-written book reinforces your expertise. It can lead to increased demand for your coaching, consulting services, speaking engagements, and other services or products – often at higher rates. It also offers the potential of new partnerships, collaborations, and opportunities that may not have been available otherwise.
- Brand Building: All of a sudden, your brand leaps off the business card and onto your meticulously designed cover in bookstores and online.
PRO TIP: Get rid of your business cards and, instead, give out your latest book to any new prospects. They won’t get thrown away or forgotten.
- Media and Interviews: Like with any new product or service, your book deserves a fabulous launch and a coordinated PR plan. This means media coverage and interview requests, which also provide exposure and promote your business. Media appearances can translate into increased sales and brand recognition.
- Workshops and Seminars: Once published, you have the opportunity to create workshops or seminars based on the content of your book. Ticket sales can be a lucrative income stream and lead to bigger ticket offers. Moreso, workshops and seminars allow you to connect in person with readers, sell more books, and sign copies in the process.
- Online Courses: Transforming your book’s content into online courses or webinars can generate substantial income, especially if you have a sizable following or email list.
- Licensing and Translation: You may have opportunities to license your book for translations into other languages or adapt it into other formats. These licensing deals can provide a significant financial boost.
- Bulk Sales: Businesses and organizations often purchase books in bulk for employee training or promotional purposes. Bulk sales can be a lucrative one-time revenue source. They require their approach to sales and can be very profitable.
- Long-Term Passive Income: Your book can continue to generate passive income for years. As long as it remains relevant, it can provide a steady stream of royalties.
- Long-Term Lead Generation: A book is a lead generator. It should have subtle calls to action that will capture the information and attention of the readers you know you can help most.
For many authors, publishing a book is a passion project. But for those with entrepreneurial spirit, a desire to lead, or a business to run, writing can be the best, most profitable product you have.