One of the common pieces of advice that many business owners receive is to write a book. Writing a book can offer advantages to a business owner interested in boost credibility and visibility. A book can even provide a revenue stream for a business owner.

Before you decide to write your book, however, you need to think about what you hope to accomplish with it. The way you write your book, and how you decide to publish it, depends on your goals for the book.

Do You Expect to Make Money?

If you write a book expecting to make money, you take a different approach than you would if you have different expectations. When you write a book with the hope of creating a revenue stream, you might want to consider self-publishing the book. You’ll get to keep more of the money made from the book, rather than seeing most of it go to the publisher.

Another consideration is that writing shorter books with specific, helpful information often do better when you hope to make money when you write a book.

However, in order to make money by self-publishing, you do need to be willing to market the book pretty heavily. Doing it on your own requires a great deal of effort and you are solely responsible for getting the word out. You can make some money if a traditional publisher plans to take on your book, and a lot of copies are sold, but you might not have the same results when it comes to keeping more of your money and creating a revenue stream from the books themselves.

Credibility and Visibility

When you write a book, you often receive instant credibility. Rather than trying to make money on your book, you can use your book as a way to boost your visibility and maybe even increase your earning power.

Your book can establish you as an expert in your field, and that can be helpful when you’re looking for new clients or setting rates for consulting or speaking. If you decide that you are more interested in prestige when you write a book, it can make sense to have it published by a well-known publisher. This lends you an air of prestige. Plus, you can get help when marketing the book or going on tour for the book.

Writing a book might be more about establishing yourself as a leader, instead of worrying too much about making money. This means that choosing your topic might entail a different process, and you might choose a subject that sets off your knowledge and accomplishments.

As you prepare to write a book in the hopes that it will benefit your business, make sure to review your goals. Understanding what you hope to accomplish, and learning the best way to go about it with the help of a published book, can help you take the necessary steps toward getting the most out of your choice to write a book.

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I'm Miranda and I'm a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

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