Opinions expressed by entrepreneur contributors are their own.
You’re an entrepreneur. You’re looking for ways to boost your platform and attract attention to yourself and your budding brand. As a culture, we tend to elevate authors as titans of thought who have achieved what few others ever do. So, writing and publishing a book might be the perfect answer to establishing yourself as a credible thought leader. Books are unique marketing vehicles, and for some authors, they even become a source of extra income. According to data compiled by Publisher’s Weekly, last year was a record year for book sales. It seems readers can’t get enough. Now might be the perfect time to write and publish your book.
Writing and publishing a book seems like a no-brainer, right? It can be a challenging and rewarding journey, and it can even skyrocket your career as an author. Here are five reasons entrepreneurs should consider writing a book:
Related: How to Write a Book (and Actually Finish It) in 5 Steps
1. It can establish you as an authority in your industry
The most important factor in building credibility is how others perceive you. Entrepreneurs often take to social media, blogging and even podcasting to affect how people think about them. But publishing a book can potentially lift your voice in other important ways. A book can establish you as an expert in your industry and build instant credibility. Credibility also has the power to create discoverability. When potential clients perceive you as credible, they are more likely to reach out and engage with you. Writing a book is an excellent way of deepening your knowledge and ensuring you’re a specialist in what you bring to your audience.
2. You might generate an additional stream of steady income
While it’s true that most authors aren’t able to quit their day job and live on their book royalties, a smart entrepreneur can find ways to generate new revenue streams from a book. When you publish a book in multiple formats, including print, ebook and audio, you can benefit financially from Amazon and other booksellers. There are also so many other ways you can make money with a book — and usually a lot more money than you’d make by just focusing on selling your book itself. For example, you can use your book to host seminars and workshops, start a mastermind group, launch a coaching business and more. Entrepreneurial authors find multiple ways to duplicate income when they publish a book.
Related: 5 Strategies to Writing a Book That Will Build Authority
3. A book is a multi-purpose marketing tool
As entrepreneurs, we wrestle with the daily challenge of getting our voices heard within the sea of distraction and noise. It’s never easy, and it can get expensive. Writing and publishing a book can help break through the noise, and once you’ve covered your expenses to get published, the publicity generated is free. Amazon and other booksellers will do the work for you by posting about you and your book on their individual platforms. You can also use your book as a premium offer to acquire leads and use it as a prize in a contest or in a crowdfunding campaign. Think about your book as your business card, and watch your customer base begin to grow.
4. Your SEO value will go up
When you publish a book, the search engines will automatically include it in their algorithms because it will be posted on dozens of high-traffic websites, including Amazon.com, Barnesandnoble.com and Walmart.com. Don’t be surprised if you find your name popping up all over the search engines. Good Search Engine Optimization (SEO) is an important part of an entrepreneur’s challenge in becoming discoverable. Users trust search engines, and achieving a top spot in search engine rankings signals to searchers that you are credible. The higher you rank in results pages, the more clicks, traffic and customers you will generate.
Related: The World’s Best Marketing Tool: Writing a Book
5. It will be a part of your legacy, even long after you’ve retired
Being an entrepreneur is hard work, and once you’ve achieved some success, you often want to find ways to help family members, friends and sometimes colleagues. You want to inspire and influence them with the entrepreneurial legacy of your work. At its best, your story will impart your wisdom in a way that inspires and leads those who come after you. Written well, it will reveal not just your triumphs and joys, but your fears and failures as well. Your legacy in a book can be one of the greatest gifts you ever give to your loved ones, friends, peers or those you have mentored.
While you might not become the next Malcolm Gladwell or James Clear (both #1 best-selling business authors), you can realistically reach people you’d never reach otherwise. At the very minimum, becoming a published author will be an unforgettable journey you’ll always be proud of.