In other words, what would being an author mean for your business?
Many nonfiction authors who write books about their areas of expertise discuss the intangibles of having more credibility or visibility, a larger footprint in the marketplace, or being seen as a thought-leader.
If you had to quantify the benefits, what would that dollar figure be for your business?
I was discussing this question with some author friends lately, and they suggested that there are at least four ways that authors might quantify the benefits.
The Benefits of Writing a Book
#1. Increase in closed sales
You visit with a client.
That client is on the fence, or is considering another coach/consultant/speaker.
The client is trying to decide whether or not to choose YOU.
What is the deciding factor?
Would having a book make you the better choice because of your perceived value, your visibility, your recognition in your field?
If you closed 10% more sales, what is that dollar amount?
#2. Increase in revenue streams
If you had a book, you could sell it at the back of the room when you were speaking.
You could pre-sell the book before you presented your program.
Visitors to your website could purchase your book.
You could sell your book on Amazon.
You could also develop other products based on your book.
You could derive an entire revenue stream that you had not been generating in the past.
If you were able to receive 10% more in revenue from book sales, what is that dollar amount?
#3. Increase in fees due to increased credibility
You are considering raising your fees.
Can you pull it off?
If you are an author, you have more credibility and visibility, and the client may be willing to pay more for your services because of your increased perceived value.
If you were able to charge 10% more for your services because you were seen as a thought-leader, what is that dollar amount?
#4. Increase in reach
Someone finds your book on Amazon and reads it and is impressed, and thinks, I wonder if the author could come to our company and help us solve this problem.
Or, someone buys your book from you, lends it to a friend who has a problem with that issue, and suddenly you’ve just booked another engagement from a source you’d previously never encountered.
If you booked 10% more business because more prospects learned about your services through your book, what is that dollar amount?
Look at your revenue for the past year.
If you could increase revenue by 10%, wouldn’t that be a strategy that would be worth the investment of your time, energy, and money?
And if you could realize a much larger return on that investment, would you even hesitate?
So, let’s get the benefits of writing that book!
About Cathy Fyock
Cathy Fyock is The Business Book Strategist, and works with professionals and thought leaders who want to write a book as a business growth strategy. She can be reached at 502-445-6539.
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