Should you write a book? There are two ways to measure every dollar you spend in your business or your thought leader practice. ROI and COI.
Every dollar you waste in your business is a heartbreak, isn’t it?
Because you work so hard to get those dollars. You dream up your service, then test it with your market, then refine it and get brilliant at delivering it. You package up terrific value. You learn how to sell your services and where to find the right people who really need and want what you have.
A book makes that easier—the right book, of course. And to get the right book, you must invest – a coach, an editor, design and printing and so on.
So how are you going to measure the investment?
- Return on Investment (ROI)
You make more money (or other value) than you spend, put simply. I like to say I get 10 times the value of my spending. You save time; you make sales; you feel happier, and you gain status. All are “currencies” that deliver a return. That is one way to measure the value of the investment.
- Cost of Inaction (COI)
This is when you lose money because you didn’t invest. When you don’t write a book, and then a competitor writes about your topic first. You end up looking like an also-ran, (even if your idea is better).
The COI is, admittedly, hard to measure. How much more revenue would you generate if you wrote a brilliant business book? That is hard enough.
But what about how much time you save in marketing and sales? How much happier would you be? How much better know and more respected and credible would you be?
Of course, it all depends on the book.
How do you reduce your risk on ROI and COI? I have a suggestion.
I have just five places in Brain to Book Kickstarter in September. For a fraction of the price of the full program, you can get started, and try the experience of working with me.
If you like it (and I know you will), you can book in for the full program (subject to places being available), and have the price of the Kickstarter deducted.
Low risk, high return, and a chance to blow your COI out of the water.
Do you tend to focus on ROI or COI, and what is behind your choice?