Every book requires an investment, a large one. So a good exercise before starting on a book project is to calculate your return on investment. What are you going to get back from everything you put in?

I like marketing guru Michael Port’s way of looking at it: You have to figure out your financial, emotional, physical, and spiritual return on writing. He calls it your FEPS ROI. For starters, how much money will you get back? Then, how will it make you feel emotionally and physically? And of course, how will it serve your purpose?

You can’t actually put numbers to all these things. But you can roll them into your mental ROI equation. Are you comfortable that you’re going to get a good return, given the time, money, stress, and sacrifice of doing a book? Examining your investment variables will also clarify goals and directions for your writing work, a huge time saver as you choose what to—and not to—include in the book.

Port’s acronym of FEPS is a good one for anyone. But you could also create your own with variables that matter most to you. Along with (or instead of) F, E, P, and S, you might use Career, Reputation, Networking, Credibility, and so on. Spell out on paper what matters, and keep a record during your book project.

The ROI decision will help you decide whether to launch on a book project. But the variables you focus on will also keep you straight on the path to delivering the right book—structuring the right argument and choosing the right examples. You then have the best possible chance to enjoy the dividends for years to come.

[Revised January 2020. Originally published April 16, 2012]