By Adrienne Greenwood, Founder, Authority Accelerator Media & Publishing Inc
As an entrepreneur, one is constantly looking for new ways to stand out from the competition and establish oneself as an authority in one’s field. Writing and publishing a thought leadership book can be an incredibly powerful tool in achieving this goal. Not only will it help you gain credibility in your field, but it can also serve as a way to generate income and expand your business. By publishing a book that showcases your unique insights and expertise, you provide potential clients and customers with tangible evidence of your capabilities. Additionally, the book can serve as a great marketing tool to help you attract new business and establish yourself as a thought leader in your field.
With the right approach, writing and publishing a thought leadership book can be a very effective way to achieve your goals and take your business to the next level. Here are some benefits of being a self-published author and some tips on getting started.
1. Establish yourself as a thought leader.
Writing a thought leadership book is a powerful way to establish yourself as a thought leader in your field. By sharing your unique insights and expertise with the world, you can demonstrate your authority and build a loyal following of readers who view you as an expert. This, in turn, can lead to increased opportunities for speaking engagements, media appearances, and consulting work.
2. Increase your visibility and credibility.
Publishing a book can also help increase your visibility and credibility in your industry. A well-written and well-researched book can attract media attention, which can lead to increased visibility for you and your business. Additionally, being a published author can increase your credibility and set you apart from others in your field.
3. Generate new leads and sales.
Writing and publishing a thought leadership book can also help you generate new leads and sales for your business. By including information about your products or services in your book, you can attract readers who are interested in what you have to offer. Additionally, you can use your book as a marketing tool to attract new clients and customers.
4. Build your personal brand.
A well-written and well-promoted book can help build your personal brand and increase your online and offline visibility. By showcasing your knowledge and experience in a book, you can create a strong personal brand that sets you apart from your competition and helps attract new business opportunities.
5. Creation of passive income streams.
Publishing a thought leadership book can also help you diversify your income streams. Depending on the success of your book, you can earn significant royalties from sales, which can provide a new source of income for your business. Additionally, being a published author can open up new opportunities for speaking engagements, consulting work, and other forms of income generation.
Once you’ve written and published a book, it can continue to bring you income long after it’s written. Whether through book sales, speaking engagements, or other opportunities resulting from your book, publishing a thought leadership book can create a passive income stream that can provide ongoing financial benefits for your business.
Prospective authors should be aware that Amazon publishes about 2 million books a year. Without a marketing plan, your book may struggle to attract potential readers and, in turn, you may struggle to make money from it.
So how much can self-published authors earn?
Rates vary, but self-published writers on Kindle earn about $150 a month on the low end and up to $10,000 a month on the high end. It’s important to note that your KDP earnings depend on a variety of factors, including the category niche you choose, the size of your audience, and the type of book you’re selling—ebook, paperback, or audiobook.
How to get started?
Choose a topic that is relevant to your industry and about which you have unique insights.
Research your topic thoroughly and use data and case studies to support your arguments.
How to increase the price of your book
Overall, your book costs between $2.99 and $9.99, basically guaranteeing you the highest possible royalties on Amazon. Books priced below $2.99 only get a 35% royalty, meaning authors have to sell a lot more copies to make a decent profit.
We recommend keeping the price around $6 on average, then you’ll settle for a 70% royalty plan and also have a chance to earn a decent income.
Hire a professional editor (or ghostwriter) to help you refine your writing and make sure your book is well-structured and engaging. Work with a reputable publisher or self-publish your book using a platform like Amazon’s Kindle Direct Publishing (KDP) or Draft2Digital or Smashwords.
Which format is best?
E-books vary in format, so the format you choose to publish in will also affect your reach. MOBI and AZW are popular e-book formats, but they are limited to Amazon Kindle. Publishing your book in EPUB format allows you to sell it on many e-book marketplaces, including Apple Books, Google Play, and more.
In conclusion, writing and publishing a thought leadership book can be a powerful tool for establishing yourself as an expert in your field, increasing your visibility and credibility, generating new leads and sales, and diversifying your income streams. By following the tips above, you can make the most of this opportunity and take your business to new heights.
Adrienne Greenwood writes frequently about PR and business trends, most recently for Medium and Women On Business. She enjoyed a diverse and varied sales and marketing career, from cosmetic brands such as Estée Lauder and Bobby Brown to luxury resort real estate, before starting her own PR and digital marketing agency.