In Part I of “Becoming a Financial Author,” I shared some benefits and caveats on turning your passive investing expertise into a book. Today, let’s assume you’ve decided to take the leap. How do you actually move from pleasant pipedream to practically published?

Barbara Gleason of Cranedance Publications consults on book publishing and self-publishing, helping writers “realize their dreams of getting their work into the public eye by publishing their own books.” Gleason advises, and I agree, that would-be authors should “start with the end in sight.” (This is of course no different from what you advise your clients regarding their long-term portfolios.)

Set Your Goals. What are your specific goals? Why are you writing this book, and for whom? Start a notebook or Word document to jot down ideas and research notes. (Or a tape recorder if you’re not yet ready to type. I’ve also heard that Dragon NaturallySpeaking voice recognition software works well, if you’re into gadgetry.)

Circle Your Troops. Be aware from the beginning that you will probably wish you were done with the book long before you really are. Who will help you stay on task? Friends, family, colleagues? How will they help you? Are they ready for the ride?

Create a Plan. Just as you wouldn’t invest without a detailed investment plan, don’t write a book without a documented production plan in hand. Include project specs, measurable steps to success, calendar deadlines and a dollar budget. (I’ll provide more ideas on production costs in Part III, in which we review publication options.)

Your plan doesn’t have to be fancy. There’s software available to help manage big projects with lots of moving parts, but personally, I tend to use a simple Word document and entries in my Outlook calendar to describe and schedule my plans — or even index cards and a paper calendar, if you’re even more old school.

Assign Tasks. With your plan in place, decide which tasks you want to or must do, and which ones you expect to outsource. A book is strengthened by collaboration, so don’t go it alone. Interview and select alliances you plan to use. Ask them how they will help, in detail, and agree on both costs and scope, preferably in writing.

Set Sail. Now, finally, you and your support team can embark on the “real” tasks: producing an outline, researching facts, writing content, and creating or arranging for imagery and related permissions.

Of course it’s easy to say, “Now write your book.” It’s quite another thing to do it! To give this subject proper due, read a book or two on the subject. One of my faves is the timeless classic “Bird by Bird,” by Anne Lamott.

Edit, Edit, Edit. Edit Some More. Arrange for a team of editors/reviewers, including as many of these components as your time and budget will allow:

• A professional editor to assist with big-picture, thematic and structural concerns
• One or more people who represent your target audience for the book (such as friends and family who will catch jargon or explanations that make perfect sense to you but will be lost on your intended reader)
• One or more colleagues who can comment on substantive concerns
• A professional line-editor/proofreader to spot typos and grammatical gaffs, preferably as a final sweep after all other changes are done

Do not try to play all of these roles by yourself. Not even Robert DeNiro is that versatile. You’re the executive editor, who will gather everyone’s input and make the final call on how or if to incorporate your own and others’ revisions. Plan for several rounds of this type — several more than you expect it to take.

Compliance. As an investment advisor, you also get to enjoy the “bonus” of compliance concerns. While it seems to be a gray area whether a book is regulated as “advertising,” it still makes good sense to adhere to the usual caveats, such as protecting client privacy, avoiding testimonials and discussing past, specific performance.

Future Marketing. As you near publication, plan for a marketing campaign. How will you get the book into the right people’s hands? How will you market it? (Hint from Barbara Gleason: Even if your book is professionally published, publishers often have very limited marketing budgets these days!) If your budget permits, consider the services of a professional publicist, such as Jane Wesman Public Relations who has helped financial authors such as Larry Swedroe, Bill Schultheis and Charles Schwab promote their books. I subscribe to the free e-newsletter available from Penny Sansevieri’s Author Marketing Experts, Inc., and I find it chock full of sensible book marketing ideas in the current environment.

In my next posting, Part III, we’re going to reach that glorious day when you’ve completed your manuscript and you’re ready to turn all that hard work into a finished product. We’ll cover some publishing tips, both print and electronic.