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Every entrepreneur hopes that a great product or service can stand on its own; that it can be successful enough to help them grow their business and personal profile.
Unfortunately, such successes tend to be the exception rather than the rule. As Tyler Wagner, founder of Authors Unite, explains, entrepreneurs typically need much more than a great product to achieve long-term results. They need a platform. And by delivering value through personal, authoritative content, they can achieve exactly that.
The Danger of Product-Only Thinking
While the product or service is usually the baseline for a successful business, Wagner is quick to note that entrepreneurs have a tendency to focus on the product itself, rather than the people behind it — and that can be a detriment.
“Many of the most successful entrepreneurs didn’t get that way because of their products alone. They achieved their influence, and in some cases fame, because of the platform they were able to build around themselves. They built a personal brand, and the products were an extension of that personal brand. At the end of the day, we’re attracted to ideas that come from people, rather than faceless businesses. When entrepreneurs only focus on the product itself, they miss out on half the picture.”
For example, one recent study found that readers rated AI-written stories significantly higher when they were told the stories had actually been written by humans. A study by Baringa found that 81% of people preferred human-created content because it was perceived as more authentic, original or personal.
Without taking the time to showcase the people behind the product, rather than just the product itself, entrepreneurs miss out on crucial opportunities for connection with their audience.
Creating a Platform Through Expertise
Wagner notes that there is no shortage of opportunities to build a platform: “Decades ago, entrepreneurs had to rely on traditional media to get any kind of attention and coverage for themselves and their products,” he says.
“Now, we live in a completely different environment. Entrepreneurs can start podcasts, publish a book without going through a traditional publishing house or even start a YouTube channel. There are so many different opportunities to create a platform that plays to your strengths, where you can share your insights and expertise in a personal and meaningful way.”
As Wagner explains, many entrepreneurs are tempted to ignore such activities because they don’t always deliver immediate, direct revenue. But he says that ignores the point of platform-building activities.
“Whether you’re investing in a book or a YouTube channel, these things are rarely going to become your primary source of revenue in and of themselves, even though they can add to your total revenue. Instead, these platform-builders are powerful lead generators that drive warm leads directly to your business. Your audience comes to know and trust you because of the expertise you’ve shared, and now they’re even more ready to pay for your other products and services.”
One need only look at how the success of Stephen Covey’s The Seven Habits of Highly Effective People helped turn FranklinCovey into a global enterprise to see this principle in action.
Books as Your Entrepreneur Platform
From short social media posts to longer video essays, the opportunities for platform-building are plentiful. But for his part, Wagner highly recommends that entrepreneurs consider the power of a book for building their platform. “Few things can build your niche authority like being able to say that you’re a bestselling author,” he says.
“Being a bestselling author is an instant indicator of social proof, as well as the trust and authority you have in your area. Even as other platform-building opportunities grow, there’s an inherent credibility and level of expertise that comes from being an author. And that social proof is what can move you from someone’s ‘maybe’ pile to a ‘yes’, both for using your products and services and for booking you for speaking engagements and other lucrative opportunities.”
In Wagner’s experience, a book can become a tangible springboard that can power an entrepreneur’s status to new heights, even as it also creates an ancillary product that can directly contribute to revenue. The book itself becomes an ongoing marketing tool that is available to a global audience, which can greatly expand your reach — especially if the book itself is marketed successfully to achieve that bestseller status.
“The same level of thinking and care that goes into building a great product or service should also go into building your platform,” Wagner says. “This way, you can deliver maximum value to your readers, and that positive first encounter with you will lead to meaningful business growth.”
Building for Growth
No business idea will succeed without a great product or service behind it. But as Wagner’s insights reveal, focusing exclusively on a product or service at the expense of an entrepreneur’s personal platform can greatly limit its potential.
By using your specific niche expertise and experience to build a platform (whether through a book or other format), you can build industry authority and generate downstream revenue that takes your business to new heights.
Every entrepreneur hopes that a great product or service can stand on its own; that it can be successful enough to help them grow their business and personal profile.
Unfortunately, such successes tend to be the exception rather than the rule. As Tyler Wagner, founder of Authors Unite, explains, entrepreneurs typically need much more than a great product to achieve long-term results. They need a platform. And by delivering value through personal, authoritative content, they can achieve exactly that.