The Four Ways Writing a Book Can Help You Grow Your Business
There are many different reasons why you would write a book. Perhaps a close friend or colleague suggested it. Perhaps you have developed a new method or approach to something. Or perhaps you’ve had a unique experience you felt was worth sharing. While these are all valid reasons, there is another reason that you might overlook that may be the most worthwhile reason of all: Assuming you’ve done the requisite research and work ahead of time, writing a book can be an incredibly powerful way to help you grow your business or your brand. Here’s why:
1. It identifies you as an expert
Have you ever questioned someone’s knowledge on a particular subject, only to have your doubts rebutted with the argument that he or she “literally wrote the book on it”? Once you choose to put pen to paper, that person can be you. Authoring a book immediately establishes you as an expert on that subject, which opens up a wide range of business-expanding possibilities. You can lead workshops or give talks on the topic, using your book as a jumping off point, or you can serve as an expert source for journalists (print, digital or audio) reporting stories about the subject. Writing a book gives you the credibility and expertise required to open up these doors, which can greatly increase your business’s exposure and lead to new opportunities.
2. It serves as a walking, talking business card
How do you get the word out about your business and the services you offer? You likely have a website and a LinkedIn page and perhaps you pay for some advertising. But if you just have the former two (some research shows that the average small business spends just 1% of their revenue or less on advertising), you are mostly relying on networking and customers and clients finding you. But once you write a book, your business’s footprint on the industry grows exponentially. If you work in a field in which you are always searching for or accepting new clients, having a book widely available for potential clients to find before they’ve even visited your website or spoken with you gives you a leg up on competitors. Listings for your book on sites like Amazon and Barnes and Noble serve as additional paths through which clients can find you. And much like a well-designed and thoughtfully distributed business card, it establishes a first impression of you as trustworthy, knowledgeable, professional, and someone with whom new customers will want to work.
3. It functions as passive income
One of the reasons earning money through the stock market has always had (at least for me) such a hazy mystique surrounding it is that stockbrokers make trades and then wait for the money to come in. This business model is a far cry from many, in which goods or services are exchanged for money. But once you write a book, part of your business takes on that stockbroker model—it is a good you have available for purchase, except all of the work on your part has already been completed. So when people purchase it, all you do is sit back and wait for the profits to roll in (profits that will vary based on the publishing route you choose, but that’s a discussion for another day). Adding passive income streams is a great way to diversify your business without consistently adding more work to your workload, and a book (especially one that you’ve taken the time to write, produce and publish professionally and market effectively) is one that has the potential to grow your business indefinitely.
4. It is PR gold
When publicists are pitching story ideas or features to journalists they are always looking for a timely spin, an answer to the question why this story at this moment? A new book being published is the perfect answer to this question. Even if the subject matter of your book is evergreen and relatable, journalists and consumers of media alike are always looking for new stories and new voices to hear from. If you are searching for ways to get your message or your business out there but don’t have the budget to spend on marketing and advertising, you can use your book release as a jumping off point for features in book review columns, interviews on podcasts and more. And again, just like the way your book on its own serves as a business card directing people back to you and your business, these types of features can do the same—while ideally directing them to purchase your book as well.
Are you convinced it’s time to start writing your book? If you’re not sure where to begin, contact Raab & Co today to get pointed in the right direction.
