Writing a book comes with 2 ROIs and there are 4 dimensions to it. Unfortunately, many people focus on the wrong ROI and the wrong dimension, which sabotages their endeavor.
What we first need to consider, when thinking of the ROIs of writing a book, is that there are two resources we need to invest.
- Time — to learn the process and to write the book.
- Money — to get a coach’s help and to pay for a few publication-related things (unless you publish traditionally, in which case you will get an advance to write the book.)
So these are the resources you invest and get back. You’ll get back your money and time — and you can even recoup them exponentially — if you follow the right process. A book generates passive income, and it allows you to buy back your time by shifting your career or by charging your clients more. In short, it gives you more freedom.
Now, of course, if you decided to write your book without guidance, you would have to invest more of your time and less money. And if you decided to have your book written by somebody else, you would have to invest more of your money and less of your time.
I think both of these options are bad because they go to extremes.
Let me explain.
There are two lenses through which to conceptualize the investment you are making.
- Short term
- Long term
If you see writing a book only from a short-term perspective, you’ll want to invest zero time and spend a lot of money on it because you’ll see it as a purely financial transaction. You’ll see it as something that allows you to get more business and charge more, but you won’t see it as a project that changes you. I think this is missing the point of writing a book.
Now, if you see writing only from a long-term perspective, you’ll want to invest no money and a lot of time — which I doubt is your case — to figure everything out on your own. You’ll see it as something to be learned by trial and error, which I respect — that’s what I did — but you don’t have time for that if you’re a busy expert.
The ideal way to write a book, the way that maximizes both ROIs (money and time), is by writing the book yourself, working with someone who teaches the process, who keeps you accountable, and who ensures you stay on the right track and don’t waste your time. It’s a perfect balance. Now, the reason it’s a perfect balance lies in a video in which I talk about the two things you need to be successful in any profession and any industry.
In that video, I talk about having top-notch communication skills and an extraordinary business card; I talk about being and doing. The ROIs of writing a book aren’t just bidimensional; they don’t just occur in the short- and long-term. They are quadridimensional: they occur in the short-term and long-term through being and doing.
What I mean is, the ROIs (money and time) don’t come only from the final product, which is your book, but they also come from your communication and storytelling skills.
The writing process, if you follow it, will change you forever and it will increase your value significantly. You can’t just shortcut your way through it.
These are the two ROIs and the four dimensions of writing a book.