The Business of Expertise: How Entrepreneurial Experts Convert Insight to Impact + Wealth

By: David C. Baker

This is a great book for those who want to be able to build a business around their expertise.

It has a lot of examples as well as actionable insights on how to covert insight to impact and wealth. It also has an AMAZING reading experience because of how it was designed (colors, graphics, etc.).

Flow: 5/5
Actionability: 5/5
Mindset: 5/5

Some of My Highlights:

“As they’ll say, you’ll work crazy hours for yourself to keep from having to work normal hours for someone else.”

“If we do our job of positioning your firm well, you will be irreplaceable or nonexchangeable or noninterchangeable, and that power translates into a pricing premium.”

“Good positioning makes you noninterchangeable.”

“So if you want to be a lot more intentional and play the long game, earn your positioning. It starts with careful thinking and courageous decisions followed by ages of hard work as you hone your craft.”

“But the goal, folks, is not how big your firm can get but how profitable and impactful you can be.”

“Listen, even just courage and not having an accent can get you through hours of manning the conference room table in their office.”

“…just doing what you love while making no money does nobody any favors.”

“As we’ll discuss later, money is the currency of respect, and the customer of an expert treats the advice more seriously if it comes with a hefty bill.”

“After looking at 1,340 examples of successful experts, the only consistent trait was that they were risk-takers.”

“As a leader, your job is to make decisions! There are other things, too, but that is your main job.”

“Experts want to be right, but entrepreneurs need to take risks.”

“Without strong positioning and the opportunity that stems from effectively applied lead generation, you are stuck with whatever opportunities fall in your lap instead of making your own success.”

“Having interviewed thousands of experts over the years, it seems like they typically go through four or five cycles.”

“Learn from anyone. And I do mean anyone. Slide into meaningful conversations with authentic people.”

“Gravitate towards world citizens, too. Those are the people you want in your life.”

“There are too many experts who are simply letting their clients define success for them.”

“You can’t just keep adding goals to your life and expect to meet them. Peel off the ones that are not likely to happen, that are painful to peel off. Then put more energy into the ones that really are more likely to happen.”

“What’s even more ironic is that consultants and marketers – who are supposed to understand positioning better than any of the professional services – are the absolute worst at positioning themselves.”

“Saying ‘no’ feels like defeat and cowardice. We’re afraid that every uttered ‘no’ will somehow put us behind all the other entrepreneurs who are chasing that glorious growth that the world around us has defied.”

“…positioning is about occupying a space in the prospective client’s mind that would justify a price premium because the client needs that expertise badly and can’t easily find it elsewhere.”