Writing a book is good for business
The question about why anyone should write a book comes up a lot in this profession. When I started out as a ghostwriter, my answer was always the same: to own your space. In other words, if you author the book about sales/marketing/leadership/technology (whatever you do best) you immediately gain a certain cachet. If you wrote the book, you must know what you are talking about, right? Get the book onto the bestsellers list and you can multiply that halo effect a hundred-fold, even a thousand-fold. I even put my money where my mouth is and authored my own book. (The Complete Guide to Ghostwriting. Shameless plug: an updated edition is being released in February 2024).
I still stand by the fact that setting yourself up as an expert in your field is a very strong reason to write a book. Over time, as I became more experienced, I discovered many other upsides to writing a book. A lot of the business authors I have worked with have found themselves being more frequently called upon as a commentator, or speaker in their sector, after publishing their book. This is an extension of owning their space. The thinking seems to go that Mr or Ms X has written about A Subject, so they must be keen to talk further about it. This is not only great for raising their profile, but can result in business leads.
Another upside is a book can be really handy for marketing and PR departments. A new book can be mined for a large number of new and interesting stories which can be used in campaigns to raise awareness about an organisation and the person at the helm. As someone who provides ghostwriting services, I often share a list of newsworthy angles with PR teams when the book is complete. These hooks are great to publicise the book launch and can be used extensively in the months that follow.
Recently, a chance conversation with an author added some more, extremely compelling, reasons why businesspeople should consider putting pen to paper; it can create a noticeable benefit to the business itself. The conversation was with a hugely successful entrepreneur, who I have worked with on a number of occasions. This person has published several books, ranging from ‘how to’ guides, to a candid biography. It turns out that the biography in particular had an unexpected, but very positive impact on business.
Like all entrepreneurs running high growth businesses, this author has been involved in countless rounds of fundraising. If you are unfamiliar with this environment, it is tough and unrelenting, involving pitching to one investor after another. For the most part, the answer is a firm ‘no’, even for the most promising businesses and, perhaps predictably, the larger the investment round, the more likely it is that entrepreneurs leave empty handed. It is possible to see things from the investors point of view. They are being asked to risk millions on an unknown quantity. For their own business model to work, they need to put money into businesses that have the potential to generate a return ten times the amount invested.
After the biography was published a curious thing happened. More investors started to take meetings and, when this entrepreneur and their team pitched, the VCs were more receptive to the message.
‘We didn’t need to do the dance where I explained who I was and what the business did,’ I was told. ‘They’d read the book.’
On some occasions, the investors even had their copy alongside them during the pitch.
A similar scenario occurred with potential business partners, suppliers and associates. Sometimes these third parties would get the book on their own initiative, whilst other times, the entrepreneur would send over a copy ahead of meetings. The book contained a great deal of information about the business, how it was initially created and evolved, as well as details on its culture; all valuable intelligence. The same went for prospective candidates seeking a job at this company. In an environment where the war for talent is very real, this gave this entrepreneurial venture a significant point of difference. It was good for applicants too. Savvy job seekers read the book ahead of the interview and were far better prepared than their less bookish counterparts.
So, there you have it: books are a multi purpose tool. Businesspeople can put their stamp on their area of expertise and own their space. Well written books can also act as a powerful way to describe them and their company to everyone from investors, to suppliers, partners and potential employees. Plus, books are great marketing assets which continually add to an author’s authority and visibility. A book is a powerful way to establish a position at the forefront of their industry andbuild up a personal and professional brand.