10 Ways Writing a Book Builds Business Success

A few months ago, I wrote a post about the personal benefits an author gains from writing a book. Things like critical thinking, emotional catharsis, creativity, personal growth, self-discipline, and a sense of accomplishment. And I noted that those benefits can come from writing fiction, nonfiction, memoir, poetry, essays — dare I say even blog posts?

Here, I want to focus on the business benefits to authors who write nonfiction books related to the work they and their companies do.

Before we dive in, though, please note that all those personal benefits — however difficult it might be to express them in dollars — accrue to your work and business roles as well. I hope it’s apparent that things like improved critical thinking, creativity, and self-discipline make you better at work, too.

So, on to the hard-nosed business benefits:

1. Increased Credibility and Expert Status

Whether you call it thought leadership, authority, or some similar recognition of your subject matter expertise, being known as “the author of” a book in your field carries a lot of weight. As we’ll see in a moment, it opens doors in many ways.

2. Higher Earnings

Let’s get right to the heart of the matter. In a recent survey, 34% of entrepreneurs reported that their earnings doubled after they published a book. Doubled.

Now, that finding comes with the obvious disclaimer that results vary. The book won’t do that by itself.

You have to view the book as a tool toward that end and follow a marketing plan that leverages #1, along with several more below (and see the Bonus Benefit at the end). And spend some time learning to apply our Taylor Swift model of book marketing (see The Indie Advantage and What REALLY Happens When You’ve Finished Writing Your Book).

3. Media Exposure

This is another benefit that won’t happen automatically when you click publish in KDP and your book appears on Amazon. But combine it with a press release and your announcement can be picked up on over 400 radio, TV, news outlets, and podcasts all over North America, as ours and our clients’ have been.

4. Speaking Engagements

My co-author, Michele Molitor, and I can testify to this one. Within a couple of weeks after our book, I Am Perfectly Flawsome: How Embracing Imperfection Makes Us Better, was launched, she was booked for the opening keynote address at the UC Berkeley Women’s Initiative and will be presenting next week.

5. Strategic Partnerships

In addition to the post-publication possibilities noted, we’ve seen collaboration opportunities emerge during the writing and publishing process, e.g., from reaching out to potential foreword writers and beta readers. If you’re marketing your book from the get-go, telling people you’re writing it, testing titles and cover ideas with your communities, teasing some of the ideas and lessons in the book and in the writing effort itself, chances are you’ll get to know new people and, with some of those you already know, see each other and possibilities for working together in new ways.

And once the book is published, well, check these numbers:

6. Business Growth

Remember that stat about 34% of business book authors seeing their “earnings double”? Well, if you were wondering what happened to the other two-thirds, most of them fell into the more general category of reporting that “their businesses had grown” after launching a book. The source doesn’t explain in detail, but I’d say that could include growth in sales volume, numbers of customers or clients, profit margin, or similar indicators of business health distinct from top-line “earnings.” Any or all of which are good things, right?

7. Lead Generation

Yet another aspect of business growth that can be tied to publishing a book:

8. Content Creation

Now we’re getting into some benefits on the operations side, particularly marketing, where writing and publishing a book can save you time and money. Think about all the research you’re gathering and the words you’re putting together — perhaps even graphics and artwork for both the inside and the cover of your book — as you write your book. Much of that work can be repurposed in a wide variety of ways to market the book and your business.

9. Reduced Marketing Costs

This flows from the last item, but is broader. After publication, your book becomes a new member of your sales and marketing team — and one that never sleeps.

Out there on bookshelves and desks, in briefcases and backpacks, in readers’ tablets and phones, on Amazon, Barnes & Noble, Bookshop.org, and other online retailers, your book is ready to deliver your message and display your expertise 24/7/365. All at a minimal ongoing cost to you.

10. Talent Attraction

Being seen as a leading expert in your industry doesn’t just attract customers and clients. It also attracts talent, the lifeblood of growth and innovation in your business. And you don’t have to be a large organization seeking employees. This works for contract workers and joint venture partners, too. You’re just plain more interesting to work with!

BONUS!

Of course, we always try to over-deliver. So ponder this one.

Once you’ve invested the one-time costs of getting your book written and published, benefits like attracting new clients, paid speaking gigs, reduced marketing costs, and the other benefits we’ve covered, will go on as long as you live.

Ready to get started? If you’d like to explore how we can help you build your book, fill out our contact form, and we’ll be happy to see if there’s a fit.