Use these practical benchmarks to set goals for your business book

Nonfiction authors rarely define success by book sales. Their objectives usually relate to generating influence or boosting their business.

That said, books have a cost. That cost includes paying for book promotion, editorial help, design help, and sometimes hybrid publishing fees or ghostwriters. And that doesn’t include the largest actual cost, which is the author’s time spent conceiving, researching, and writing the text.

In the 2024 Business Book ROI study, the median author spent $7,000, and one in four author spent more than $25,000.

Is it worth it? While nine in ten authors in the survey said that writing a book was a good decision, I wonder how disciplined they were in measuring the benefits.

To prepare for writing a book, it’s best to start with a specific goal or set of goals with measurable milestones. Then you know what you’re aiming at, what it’s worth to you, and what it’s going to take for your book to be successful on your own terms.

What follows are some potential goals and milestones you can use. Figure out which benchmarks you want to hit. Some goals pay off in actual revenue; others generate more influence than dollars. It pays to know which are most important for you.

Financial goals

These are hard goals with a measurable financial payoff. I’ve included actual numbers, but you should adjust these based on your own expectations. Review this list and pick applicable goals early in the book development process. These numbers are based on my experience with typical revenue generated by authors, including responses to the Author ROI Survey.

Consulting revenues

Among business authors, 31% hoped to generate consulting revenues, with a median revenue of $50,000.

• Very successful: Book contributes to more than $1 million in consulting revenue.
• Successful: Book contributes to $250K in consulting revenue.
• Moderate: Book contributes to $50K in consulting revenue.
• Less successful: Book contributes to $15K in consulting revenue.
• Unsuccessful: Book contributes negligible consulting revenue.

Speaking fees

One in three business authors (34%) seeks speaking fees, with a median speaking income of $30,000.

• Very successful: Multiple keynote speeches; more than $200K in speaking fees.
• Successful: One keynote speech, plus other speeches generating at least $50K in speaking fees.
• Moderate: Multiple paid speeches generating at least $30K in speaking fees.
• Less successful: One or two speeches or panel appearances, low or no pay.
• Unsuccessful: No speeches or panels.

Workshops or courses

One in four business authors (26%) generate revenue from workshops, and another 11% pursue online courses. Median workshop revenue is $40,000; median course revenue is $20,000.

• Very successful: Book contributes to more than $150K from workshops or courses.
• Successful: Book contributes to $75K from workshops or courses.
• Moderate: Book contributes to $40K from workshops or courses.
• Less successful: Book contributes to $10K in workshops or courses.
• Unsuccessful: Book contributes negligible revenue from workshops or courses.

Sales leads for your organization

About one in six business authors (18%) hope to generate sales for their organization, with a median revenue of $64,000.

• Very successful: Book contributes to more than $200K in sales.
• Successful: Book contributes to $100,000 in sales.
• Moderate: Book contributes to $60K in sales.
• Less successful: Book contributes to $30K in sales.
• Unsuccessful: Book generates no appreciable sales increase.

Influence goals

Books don’t have to lead to appreciable dollars to be successful. Many authors’ goals relate more to influence than to their bank account. But like financial goals, influence goals can be benchmarked. Here are some ideas on how to do that.

Credibility and visibility

Two-thirds of business authors (68%) reported that their books contributed to significant improvements in credibility. Here are benchmarks for that:

• Very successful: Nine out ten contacts you pursue are aware of your reputation, and see it as favorable.
• Successful: Half of your contacts are aware of your reputation.
• Moderate: One in four contacts are aware of your reputation.
• Less successful: One in ten contacts are aware of your reputation.
• Unsuccessful: No impact on your reputation.

Spread of ideas

This is an important but rarely discussed benefit: Are people talking about your idea? Changing the conversation is an important goal for many authors, even if they can’t accurately articulate it.

• Very successful: Nine out ten contacts you pursue are aware of your ideas.
• Successful: Half of your contacts are aware of your ideas.
• Moderate: One in four contacts are aware of your ideas.
• Less successful: One in ten contacts are aware of your ideas.
• Unsuccessful: Your ideas fail to gain significant penetration.

Publicity

Books are typically part of a buzz campaign. Business book authors reported pursuing podcasts (59%), social media followers (55%), and inquires from media (33%). Here are some buzz benchmarks:

• Very successful: Plentiful media appearances and quotes; “everyone is talking about it.”
• Successful: Multiple media, social media, or podcast appearances that generate an audience exceeding 50,000.
• Moderate: Media, social media, or podcast appearances reaching 10,000 people.
• Less successful: A few appearances or quotes, mostly in small-audience publications.
• Unsuccessful: No appreciable increase in buzz.

Academic or professional visibility

Books also contribute to prestige within organizations. While only 4% of the authors in the survey reported a salary increase, books often make it possible to pursue more influential or favorable positions, especially in academic institutions.

• Very successful: Able to gain appointment in larger or more prestigious organization.
• Successful: Promotion at work, recognition at professional conferences.
• Moderate: Maintain position; get academic credit for publication.
• Less successful: Noted by managers or department heads, but without impact on profession.
• Unsuccessful: No appreciable professional credit.

How authors can use this list of objectives and benchmarks

Before you put significant effort and investment into a book, use the list in this post to decide what your definition of success is. Which categories of benefit are you pursuing, and what level of success would make an impact? Document your choices.

Then as you work on your book, you can make decisions that will get you closer to your goals. Is the book you’re writing the best way to accomplish those goals? Are your promotional plans aligned with your objectives? And how will you measure whether you’re succeeding?

Keep in mind that traditional publishers have only one goal: book sales. If your book has a high chance of achieving other goals that are important to you but is not likely to sell a lot, consider alternative publishing paths.

If you complete this exercise, you’ll know what objectives you’re seeking as an author. That should guide the level and types of investments you should make. And writing those goals down makes it far more likely that you’ll achieve them.