They discuss the findings of their recent research into the Return on Investment of publishing a business book.
In today's presentation we will have a first look at the data that was gathered from hundreds of authors about their experiences getting published, the expenses incurred, and the results the book had on their business. These authors were reached through not only the friends and colleagues at Thought Leadership Leverage but those from many supporting sponsors such as Greenleaf Book Group, Marshall Goldsmith 100 Coaches, Page Two Books, and Zilker Media to name a few. Before the research could even begin we had to ask the questions "What is ROI? How can you measure it? How much does an author spend? What is the effect of different publishing models? And what type of returns do authors see? In answering these questions we explore what the data tells us about the three different publishing models (Traditional, Hybrid, and Self Publishing), the role RP and Ghostwriters can play in the success of each. We also investigate the hard and soft costs involved in writing a book and what the returns could look like. While many expect the sales of the book to account for much of their profit, we learn how using the book as a key part of a platform and gateway to other parts of the business is where real impact can be found. More questions will be asked and answered in the white paper that will be released in September as we continue to pour over the data. To get a copy of the paper when it's released e-mail [email protected]
(upbeat music) - And welcome, welcome, welcome. This is Peter Winick. I'm the founder and CEO at Thought Leadership Leverage. And this is sort of a special edition of the LinkedIn Lives that we do. We are sharing with you all some of the early findings of some research that we've just put together. So I wanna just sort of thank all my colleagues here. So we've got Josh, we've got Bill, AJ, Allison, Naren, and we're gonna share with you some findings. We've put together some research and it's really, really interesting. And it started over a conversation I had with my friend Dan from Gotham Ghost Writers who we had a call one day. And he said, you know, we hear a lot of conversation around what the ROI is for a non-fiction book. It's something people ask all the time. Where's the data? And we realized there isn't any. So we said, oh, okay, we could solve that. So let me just show you what we've got. We can go to the next slide, Bill. Okay, so some of the key findings here are the average returns. So here's some good news for a non-fiction book is in excess of $186,000. That's really good news. Hard cost, $20,000. So there's some real cost here and there's some huge variance in the cost. We'll get to that once we kick off the research team in a bit. New authors, this is sort of a cautionary tale for new authors, tend to spend 230% more than experienced authors, right? So I think one of the takeaways for a new author would be, well, how do I lower that number and get the return that someone that's written at least one book has and not make those amateur mistakes? And then there's a 30% increase in return if you've got a good book strategy, which not, in my opinion, enough people do, but that investment into a strategy around your book, around your platform, around your fall leadership, around your IP increases your return is 30%, which was a really significant finding. Let's go to the next one, please. New authors, again, this is a, I guess when you do it, anything,
