My rating: 5 of 5 stars
Why Indie Authors Should Read Business Books
I am finally pursuing my lifelong passion of becoming an author, and writing is a business, so I needed to invest in myself. I figured “the bible” of the business world would have some interesting things to say. After all, a business of one is still a business and who wouldn’t enjoy the leap from mediocrity to longevity? The book made it clear that building a great business isn’t just about a great leader who exits the company, only to have it fall apart. What makes a great business, and leader of the business, is someone who is able to build something that will last long after their lifetime.
That should resonate with authors. I don’t know any authors that want their books to disappear without their presence? We have the benefit of creating products that at the very least will never go out of style. Innovations may change the way we read but they will never eliminate books altogether. What we write will last and it’s our responsibility to build something from it so people actually give a damn about our work long after we are gone.
The lessons in this book teach a person how to develop a strategy, how to build a team, the importance of being disciplined, and the importance of managing expectations.
The Hedgehog Concept is something creatives should be able to maneuver to their advantage. It’s all about finding what you can be best at, passionate about, and quantifying how to measure your success. For an author maybe that’s finding a niche and having the discipline to stick with it rather than chasing the latest genre fad.
For building a team, again think about how many people it takes to make a book. You don’t just write a draft and publish it on KDP. If you do, and are successful than I am jealous but most of us can’t write perfection the first go around. You need beta readers to give you general feedback on what’s working and what’s not; you need an editor (or two) to make sure it’s readable; you need a top-notch book cover (some authors can make their own, some need to add a graphic designer to their team) and finally you need to build your audience, because they’re the most important part of the team.
Though there are a lot of lessons in this book the final thing I’m gonna touch on is the Stockdale Paradox. It’s all about managing expectations. You can truly believe you are going to find success, while also managing that expectation. Stockdale was a POW in Vietnam who knew he would return home but kept his sanity because he knew it would be a while, while other soldiers in the camp were overly optimistic, thought they would get home by Christmas, only to be heartbroken when their expectations failed.
Pursuing a creative endeavor is still a business, and today it’s never been easier for someone to enter that business It’s my educated guess that it’s in order for creatives to educate themselves on traditional business practices if they hope to sustain long-term growth and success in their field.