Although there aren’t clear statistics about how many CEOs, founders, and business owners have written books recently, it’s a big number. If we look at the growth in the number of books published annually, the total has skyrocketed in the last 10-15 years, in large measure because of the number of business leaders who’ve prioritized book authorship.
CEOs and business leaders are increasingly turning to books as tools to establish or enhance their personal brands.
Every business leader should write a book, according to Entrepreneur.
However, few business executives write books for monetary reasons, as many leaders are already financially secure. No, many CEOs, founders, and business owners write books to transform their organizations and create new opportunities for themselves and their enterprises.
They write to make a difference and have an impact.
Just look at Howard Schultz’s book Pour Your Heart into It: How Starbucks Built a Company One Cup at a Time (which includes my affiliate link, which will earn me in the neighborhood of 25 cents if you click through and buy it), about his time as CEO of Starbucks. Published in 2007, the book is still ranked in the top 100 for business profiles on Amazon, despite the fact that Schultz wasn’t out to make a lot of money from it. His goal was to share his vision for the company and to rally the troops to help him make big moves.
He was successful, of course, as Starbucks has grown to become a $36 billion company over the years, setting up cafes on virtually every street corner, we used to say.
Schultz successfully elevated his personal brand and conveyed his leadership strategy through his book, garnering credibility and authority that strengthened his standing within Starbucks. His expertise was rarely questioned.
That’s the power of a book, and for some leaders, the main reason they invest their time and resources in telling their story and laying out their plans.
Those leaders embarking on a path to book authorship are your peers and your competitors. Of course, publishing a book will not transform their identity or their reputation overnight, but it can add to their list of credibility assets that can benefit them long-term.
Which is why you should consider writing one, too.
The Hidden Business Strategy Your Competitors Know
Smart leaders and executives are exploring a marketing strategy that many entrepreneurs overlook or cast aside, thinking that it’s too time-consuming to pursue.
They’re writing books, rather than churning out regular social media posts or industry reports. And in doing so, they’re creating permanent assets that will work 24/7 to position them as industry visionaries and authorities.
One former client I recently spoke with about our work together revealed that he successfully used his book as a business development tool, sending it out as part of a follow-up message to demonstrate expertise; as part of a training or workshop bundle; and as a physical asset he leveraged as part of the sale of his company.
Rising emphasis on books as marketing tools signals a shift in what’s working marketing-wise.
Traditional marketing tactics frequently interrupt people, while books attract attention. Traditional marketing typically requires ongoing spending to maximize effectiveness, while the value of a book can compound over time. Traditional marketing often positions you as a supplier or service provider, whereas a book positions you as an advisor or expert.
Especially in B2B relationships, credibility and authority trump just about everything else. And few other things build credibility faster than being recognized as the person who is offering ideas and solutions to your company’s or industry’s biggest challenges.
The Four Competitive Advantages of Executive Authorship
Writing and publishing a book provides a competitive advantage that is difficult to overtake when you leverage it in these four ways:
1. Authority Multiplication
It’s somewhat surprising how much weight an “author” title provides. One book is worth so much more than 100 LinkedIn posts, dozens of blog posts, or countless case studies you could craft.
There is a positive psychological response that accompanies being a published author that can’t be erased. And beyond individual reactions, this new thought leader positioning is supported by the reactions of reporters, writers, publishers, and speakers’ bureaus who now view you as an expert worth listening to and quoting.
Interestingly, that credibility gap between authors and non-authors only increases over time. Each quote in the media, invitation to speak at a conference, or industry recognition only serves to enhance your authority and separate you from your non-author colleagues.
2. Client Acquisition
Marketers commonly develop lead magnets, a.k.a. freebies, that they give away to build trust and demonstrate expertise. These can be checklists, worksheets, or pamphlets, among other examples.
Books are among the highest value lead magnets, partly because of the cover price printed on them, but also because they demonstrate deep expertise. This recognition of expertise helps build trust, which shortens sales cycles.
So, not only does a book help justify premium pricing, but it also reinforces authority and credibility.
3. Media and Speaking Opportunities
Finding credible experts to quote in magazines and newspapers is an ongoing challenge for writers and reports. Fortunately, authors almost always are acceptable as credible sources worthy of being cited or mentioned.
This is how authors can suddenly be everywhere, because a quote here can lead to a mention there, and suddenly everyone’s talking about them or their book.
On top of media interviews, podcasts are also on the lookout for interesting guests who have thoughts on timely topics. Who better to have on as a guest than someone who has recently published a book?!
The same goes for event organizers. They are constantly on the hunt for respected authorities in their field who have a message and can communicate it. Authors are at the top of their list of potential candidates because they have already demonstrated that they have opinions and can articulate them.
All of these opportunities to be quoted and interviewed and invited to speak can start a snowball that results in ever-increasing invitations that fuel visibility and credibility.
4. Legacy and Brand Building
As I’ve said before, once a book is in print, it can forever immortalize your thinking, your ideas, and your perspective. Even if your book eventually goes out of print, there will always be a record of you having written it.
It is truly a permanent asset.
And in industries where competitors offer very similar services at similar prices, being able to add “author” to your list of accomplishments can be the ultimate differentiator. It’s also an advantage with a high barrier to entry; it could take many months and lots of money for someone else in your field to be able to claim the same. And during that window, you will have already established yourself as the preeminent expert in your field. You’re the industry leader and they’re more of a follower.
Addressing the CEO Mindset Barriers
Although the benefits of authorship may be clear, I still hear multiple objections from executives.
The first is, “I don’t have the time.” They don’t have the bandwidth, they tell me. Fortunately, I try to explain, a ghostwriter’s role is to assume the heavy lifting of crafting a book. It’s my job to help zero in on your content, organize your ideas, and then compile all the relevant material through comprehensive interviews with you. The process takes you a few hours and the book that results is all yours.
The second objection is, “I’m not a writer.” And, again, I explain that a ghostwriter is your writing partner. They’re the professional who knows how to get the information out of your head onto the page.
The third is, “What would I write about?” Some high-powered executives still question whether they have anything valuable to share with the world. Your ghostwriter can help in surfacing insights and experiences that would be useful for others to learn about.
The process of writing a book can take anywhere from 4-9 months, typically, though it can take longer if you have a busy travel schedule. Then, the production process takes a few more months before you can have your book in your hands.
Since your competitors are already working on their manuscripts, it’s time to get started on yours now. Every month you delay is another month your peers are reaping the benefits and positioning themselves as the de facto authorities in your space.