They say that everyone has a book in them, but very few people end up writing or publishing theirs. For an entrepreneur, publishing books is probably not your top priority – unless of course that’s your business!
Despite that, sharing industry insights, or lifting the lid on entrepreneurship in general, can be an incredible way to support your audience. OK, not everyone has the time, and certainly not everyone is a writer, so why write a book about business?
It’s good PR
Having a business book to your name looks great, and can sometimes be a good way to get some exposure for your business.
A business book can even help people find you when they normally wouldn’t, such as through Amazon books lists that they follow. They might not fall into your orbit usually, but finding your book puts you on their radar, as well as positioning you as an authority. Which delivers us rather neatly to our next point.
Build authority and credibility
Writing and publishing a book which shares your tried and tested experiences demonstrates credibility and authority. It’s particularly valuable for anyone using their own name as a brand, such as a consultant, coach or adviser.
Not just anyone can or will write and publish a book. It’s still an impressive achievement, so will be an effort which helps give your voice more authority in the industry.
Provide value to existing and future customers
Ideally a business book provides value for its readers, giving them support even before they become customers.
You might use it as an incentive which drives traffic to signup for a regular newsletter or around your website. It gives customers something extra, that they’re not having to pay for, giving them a sense of value added. As a result, they may be more inclined to buy from you in the future.
Some entrepreneurs worry that if they provide value for free, people won’t need to hire them in the future. In fact, the opposite is usually true. People are much more likely to trust your expertise if you’ve already proven its value.
Earning money from a book is harder than it sounds, and if you go down the traditional publishing route, the royalties are likely to be low. Market your book well though, and it does have the potential to become a source of passive income.
It might not replace the amount you make with your business, but it can certainly help. You can even build on this revenue stream by writing multiple books and turning it into a mini side business.
The great thing about writing a book and selling it is that you only have to write it once, but you can sell it hundreds of times. That’s why it’s such a popular passive income generating method. Plus, if it directs customers to your main business, then it’s a win-win.
Are you looking into writing a business book? How are you planning to use your book to boost your business? Share your thoughts below.
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About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.