If you are an idea entrepreneur, then you have a lot to gain from writing a book:
Clarity. Writing a book allows you to develop, test, and refine your ideas to a level that is not possible with other media. I agree with John Butman, author of Breaking Out: How to Build Influence in a World of Competing Ideas, who notes that a book “remains the most powerful, effective, and accepted form for delivering a big and different idea.”
Credibility. Writing a book that creates specific value for specific readers helps you build a reputation as an expert.
Content. As a byproduct of writing a book, many authors get new material to use in their websites, ebooks, articles, newsletters, white papers, social media updates, speaking, consulting, teaching, and other content channels. And as Chris Brogan notes, the latter are your best options for making money from writing.
Some people asked me how much I made from my first book. The answer I gave was $10 million. The book itself only paid $35,000 in royalties, but the speaking engagements, spin-off books, newsletters, columns, boot camps, consulting, and wide-open doors resulted in the remaining $9,965,000.