Big 5 Publishers

Why Every Entrepreneur Should Write a Book (and not for the reasons that you think)

I was recently invited to a party by a good friend of mine. An entrepreneur.

I arrived late and stood at the edge of the room. I've worked with startups in my previous jobs, and I've been to a gazillion entrepreneur events, they sort of blend into a blur of bland pitches and egos. 

But there were two things I noticed about this particular crowd. Something I haven't seen before.

1. Almost all of them had laser focused pitches.

I'm a high-end life coach

We provide personalised fitness plans based on your DNA

I'm a peak performance coach

Not everyone can get away with making bold claims, but these entrepreneurs sounded sincere, authentic and they spoke with no hesitation. 

2. Most of them were also authors.

They were proud to say they were self-published, and all were doing very, very well.

My friend later told me that they had been on the same course about cementing authority (KPI programme). 

This was new to me.

I mean, sure, I knew a bit about self-publishing (Joanna Penn, Taylor Pearson had already impressed me with their books) but this bunch turned me around on self-publishing. Their drive, their persistence.

I wanted to dig deeper into what these entrepreneurs were gaining, in real terms from their books. After all, they were super busy running businesses, did a book really make a difference?

I interviewed 10 of them on the phone and over coffee. I asked them why entrepreneurs should write books. And for the purposes of making this readable, I separated their answers into 3 buckets.

The first is obvious, the second was interesting and the third I didn’t expect.

#1. Your book is talking to potential fans, friends and customers while you sleep

Having content, videos and books with your message and voice help you reach more people, at scale. Leanne Spencer, Founder of Bodyshot, offers fitness and nutrition based on genetics and DNA profiling. She explained that more often than not, by the time she had met a potential client, they had bypassed the introductions. Why? Because they had read about her, understood her philosophy and method through her online presence and her books.

So what is the potential impact of someone having access to so much of your content?

Daniel Priestly, author of Oversubscribed explains that it takes, on average 7 hours to make a big decision. This happens in business and is part of the process of taking a client through the sales funnel. Think about the hours spent building relationships with clients? In Japan, businessmen entertain and socialise with clients for hours before even discussing a deal. There’s a psychology to this.

“After you have a 7hr+ relationship two great things happen. Firstly, you don’t feel uneasy offering something of value and secondly, you are less likely to blow the relationship by offering something you don’t fully believe in… Strangely, the human brain can’t distinguish between digital media and real life (which is why we still feel sad when a celebrity dies even though we didn’t ever really meet them)” — Daniel Priestly, Oversubscribed

Using content, blogs, videos and books to distribute your message helps to do this at scale. If a blog or video offers an introduction to you and your message, a book is the second step, the equivalent of getting inside your head and understanding your mind. The third step is to meet you in person.

#2. Being a ‘best-selling’ author can boost your authority. Result? More speaking opportunities, more leads.

What do you send a conference organiser? Online links? A business card? How about a book? For all the entrepreneurs I spoke to, having a book made meant getting better speaking opportunities and more organic invites. It goes without saying that if your book doesn’t add value to the topics you’re writing about, then you’re wasting your time. But entrepreneurs like the elite coach and trainer Jean-Pierre de Villiers have used books to boost their brand and business. He is now one of the UK’s highest paid personal coaches.

Authors like Tim Ferris and James Altucher have hit and maintained bestseller status, which is a level that most authors find difficult to achieve. Some of the authors I spoke to had momentarily hit ‘**bestseller’ status but no one was earning more than 20k annually from their books. Not yet. However, almost all recognised that they had muddled through the process but were confident that subsequent books would read and sell better. All were working on 2nd and 3rd books and all of them saw Amazon as another platform to reach their potential allies, fans and customers. Only 30% were natural writers. The rest used grit, perseverance and a reached out for help including paying for professional editors. **Being a best-seller is a whole topic in itself, something I’ll cover later. But it’s enough to know that even if you’re not top of the pile in the Amazon charts, it’s worth considering writing a book.

#3. Writing will help you clarify your mission, your philosophy. Don’t underestimate how powerful this is.

What does your company truly stand for? Robin Waite, author of Startup Online said that the process of writing helped him his systems and belief. 

The world’s most influential companies lead with their mission statements. com. Can you guess who they are?

“To organise the world’s information and make it universally accessible and useful”

“To bring inspiration and innovation to every athlete* in the world”

“To create a better everyday life for the many people. We make this possible by offering a wide range of well-designed, functional home-furnishing products at prices so low that as many people as possible will be able to afford them”

“Provide a global online marketplace where practically anyone can trade practically anything, enabling economic opportunity around the world”

These are mission Statements from Google, Nike, Ikea, Ebay. Having a clear sense of purpose is important. Connect with your customers to show them what you care about and how you’re making the world a better place.

If you want to stand out in a world of content, you need to underline your expertise. Publishing a book is not just putting your thoughts on a blog post. It’s an event. It shows your best-curated thoughts and it shows customers, clients, investors, friends and lovers what the most important things on your mind are right now — James Altucher, blogger, investor and author of bestselling title Choose Yourself

Do you know what your business stands for? Can you articulate it clearly?  If you're thinking about writing a book, what is stopping you?