The publishing industry has undergone a dramatic change over the last seven years. Before the e-book revolution, the New York publishing circle was an exclusive club that relied on paper-based, box-shipping distribution, and limited marketing budgets.
Publishing a business book was only a possibility for a select few titans in the industry, like Andrew Carnegie or Jack Welch. Today, however, publishing has become increasingly democratized as self-publishing evolves and e-readers gain in popularity.
Writing and publishing a business book is no longer reserved for the wealthy business barons that the “Big Five” publishers deem worthy of investment. Entrepreneurs and business owners from all walks of life have begun discovering the benefits of releasing a book.
Gaining Credibility Through Publishing
The main benefit of writing and publishing a book is increased credibility. There are several ways this can impact a business owner:
Public Relations
You might be actively promoting the book itself, but it’s really you who’s garnering publicity. Your book becomes a platform for getting your name out in the world and growing your network.
Tim Ferriss was a virtually unknown entrepreneur before the release of his book, “The 4-Hour Workweek.” Since then, Ferriss has built a thought leadership franchise around “meta learning” and what Ferris calls “lifestyle design.”
Increased Perceived Value
People tend to assume that business leaders who have published books possess a greater degree of expertise than those who haven’t. When it comes to consultants or speakers, for example, I’ve seen speaking fees multiply 10 times following publication. It’s not that the speaker has actually become more valuable; he is just perceived as more valuable.
Before he was a published author, professional speaker Rick Butts was earning $1,500 to speak at small events. Once he became a recognized author, he began taking in $10,000 per keynote address, earning $1.1 million in just 46 months. Today, he is the author of 14 books and has ranked among the National Speaker Association’s top 3 percent in terms of speaking fees.
Brand Solidification
Publishing a book is a great way to build your brand. It provides more information about you and what you have to offer. It goes beyond a business card or a website.
Two decades ago, David Bach was a senior VP at Morgan Stanley, but he was still relatively unknown. Today, he’s one of the most popular and prolific financial authors of our time. He’s written 11 consecutive national bestsellers, including two New York Times No. 1 bestsellers.
Book publication provided the platform and perceived expertise that Tim Ferriss, David Bach, and Rick Butts needed to springboard to success. How can you follow their examples?
- Research your craft.
Find out which experts in your field are writing and use their marketing as an example.
- Build a list of prospective readers.
Find readers before your book is complete. Use a blog, a newsletter, and social media to compile a list of names and emails.
- Gather testimonials.
Network with well-known authors and people in your field to collect positive, professional testimonials.
- Get professional photos taken.
A great headshot on a book jacket goes a long way.
Publishing a book can add a dramatic level of oomph to your career. It positions you as an expert, provides a solid networking platform, and creates an alternative source of revenue. Not every business owner or thought leader has what it takes to write a business book, but those who do now have the ability to spread their ideas and grow their credibility through publishing.