Does a ghostwriting investment make sense for the book you have in mind?

This is the first question you should be asking, and hopefully that your ghost writer is asking you. Remember, ask the dentist if you need a root canal and you’re sure to get one. This applies to every business, and you have to be careful that your ghost tries to approach this topic objectively.

For instance, many people want to write books about their lives. Because many people want to do this, there is a crowded market on life stories. Unless you are famous, your book probably needs to include a hot topic of the times or reveal something about society that has been hidden … or in some other way stand out. You have to make sure it relates to the public, and not just to you.

If you are spending the money on a book, you are becoming an entrepreneur … and any successful entrepreneur wants to know first what the market is asking for, and then what product or service can feed that market. You have to make sure your book has a hungry market to feed.

OR … you have enough money to produce this book without any hope of return — you are doing it for your friends and family … and even for yourself. If you know UP FRONT that this is your goal, then you do not face the above issues.

In any case, if we want to talk strictly finances here, you should treat this as any investment: it has a risk and it has a return. If you cannot afford to hire a writer, don’t do it. If you can afford it as an investment, do it, knowing that it’s an investment. Where there is greater risk, there is usually also a greater potential return.