A Free MBA for Your Nonfiction Book (And Your Business)
I feel like everyone looks around constantly and says, oh, I have an idea for this [book]. I have an idea for this [book]. What's the difference between some idea you have that would be great in the world and an idea that is an actual, workable [book]?
I was listening to one of my favorite podcasts, Planet Money, when host Robert Smith said that sentence. Well, not exactly that sentence. He said:
“I feel like everyone looks around constantly and says, oh, I have an idea for this business. I have an idea for this business. What's the difference between some idea you have that would be great in the world and an idea that is an actual, workable business?
It struck me that Smith’s question — which was posed to Columbia Business School professor and venture capitalist Angela Lee — applies to books as well as to businesses.
On the podcast, Angela Lee said that she has been pitched over 20,000 business ideas — but only invested in 100.
My experience has been similar. Like Angela, I've been pitched ideas by would-be authors everywhere — in restrooms, at bars, and once in a pool on vacation in Hawaii. I’ve heard thousands of book ideas in my career — some good, many bad, a few laughable.
And, also like Angela, I’ve seen that only a small fraction of people take action on their idea. That’s because there is a giant gap and a whole lot of work between an idea that is fun to talk about and a successful book.
I want to help you cross that gap.
This post publishes on September 5 — which means there are 118 days left in 2023.
What that also means is:
Books that will be traditionally published in 2024 are basically done. The clients we’re excited about for 2024 have gotten a literary agent, sold their proposal to a publisher, written and edited their manuscripts, and are preparing to promote and sell their books.
The proposals I’m working on now will be sent to literary agents in the next 6 to 12 months and (hopefully) become books in 2025 or 2026.
Entrepreneurs and experts with over 100,000+ followers who want to write a book are likely to finish proposals in 2024 and have their books published in 2026 or 2027.
And everyone else reading this email?
Can work toward their own book deal by sharing and testing their ideas, proving out their concept, building an audience, and growing their business so that another year won’t pass them by (hoping, wishing, dreaming).
To help you out, here’s a link to the Planet Money podcast. Every episode is insightful, but what I think will be of particular interest to y’all is the Summer School series, which starts here. It’s essentially a free MBA for entrepreneurship in 30 minute episodes, and I’ve found it to be really useful for my own business.
