In an increasingly competitive landscape of nearly 300,000 financial advisors, it’s hard to stand out and differentiate by simply providing great service and offering comprehensive financial planning advice. For more and more advisors, the path to differentiation is by pursuing some kind of niche or specialization… but even then, it’s still difficult to prove that you’re a “recognized expert”… even for those who have been working in a niche for an extended period of time.
One effective way to communicate and “prove” an advisor’s expertise is by publishing your expertise in the form of a book – to literally be the one who “wrote the book” on the subject! Unfortunately, though, for most advisors the idea of writing a book is truly daunting. Successful advisors are already busy enough as it is, and those who don’t have the level of success they want need to spend more time trying to find new clients. How does anyone possibly find the time to write an entire book… especially if you’re not naturally a skilled writer?
As it turns out, though, there is a method to writing a book as a busy professional (even if you’re not writing-inclined to begin with!). In this guest post, Zach Obront of Book In A Box shares some of his own thoughts, tips, and best practices for financial advisors who are interested in writing and publishing their own book, including a detailed timeline of the process, as well as the costs associated with each step. Because it turns out an advisor can publish their own book in “as little” as about 6 months of time, and under $6,000 of outsourced help on everything from interviewing, writing assistance, editing, layout, and design!
And the path is particularly appealing for financial advisors, as the reality is that for clients that pay ongoing revenue for ongoing financial planning services, it can take as little as one or two clients to more than recover the entire investment cost to create your own book. In fact, the upside business potential of generating “just” another 1-2 leads per month, and improving your close rate by 10%, is so significant, that most financial advisors will profit far more by getting clients from publishing a book than they will ever get in book sales anyway. Which means it’s actually quite effective to simply give the book away for free – a glorified business card that can instantly establish your credibility as an expert!
The bottom line, though, is simply to recognize that the process of writing a book is not nearly as daunting as most fear… as long as you know how to break it up into manageable pieces, and outsource the tasks that are outside of your expertise (as the truth is that there are ample freelancers available for you to hire to help with every step of creating your own financial advisor book!). So if you’ve been thinking about writing a book for some time, or are just curious to explore new marketing ideas for demonstrating the unique value you provide to clients, I hope that you find this guest post from Zach to be he helpful!