A business owner and entrepreneur has revealed the true return on investment of publishing a book in your area of expertise, and why an increasing number of business leaders are becoming published authors despite the lack of monetary return.
There seems to be an increasing number of business owners who become authors in their field of expertise, but for SME owners, the real question comes down to the return on that investment – both the time taken to write the book and the costs associated with publishing and marketing it.
For leadership coach Rand Leeb-du Toit, a former tech entrepreneur and venture capitalist, writing his new book Fierce Reinvention took two years and then he decided to take on the financial cost of self-publishing it to get it to market in the time frame he wanted.
The reason, he says, is not about getting rich from the sales of the book, but the marketing power of being able to swing potential clients into paying customers.
“If you say to someone, ‘Hey, I'm a coach and I do X,’ they're going to go, ‘Yep, that's fine’, Mr Leeb-du Toit told My Business.
“But if you say, ‘Here's my book, have a read of it. If it resonates with you, give me a call’, that's a much more powerful tool to have.”
However, according to Mr Leeb-du Toit, business owners keen to embark on this form of marketing but with the financial resources and/or time to write and publish a book can benefit from other communication methods.
“People get on the speaking circuit, and get out there and do a lot of road shows, or even sessions like this podcast, or blogging,” he said.
“Whatever their medium or media may be, those are fantastic tools for you to then get people to recognise what it is that you're doing. And you get people approaching you as a result of that.”
Hear more from Mr Leeb-du Toit, including the lessons from his near-death experience as well as the most common reasons business leaders get stuck and seek coaching to get ahead, on the My Business Podcast below:
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.