What Is a Book of Business? 

Ronnie Gift
Book of Business

A book of business is another name for an account or a client list. A well-maintained business book will assist company employees in improving the management of customer relations management (CRM) and clients.

As it is a significant business asset, the book of business has to be kept up-to-date. The value of each listing in the book is usually dependent on the amount each client or account currently earns.

Learn more about creating a book of business and how you can utilize it.

What Is a Book of Business?

A book of business is a record of clients maintained by someone specialized in professional services, for example, finance services.

Ideally, professionals frequently add customers and clients to record their business expansion.

Professionals who could keep a business book could include:

  • Financial advisers
  • Bankers who are private and invest
  • Financial planners
  • Certified Public Accountants (CPAs)
  • Lawyers
  • Insurance sales agents
  • Salespeople

How Does a Book of Business Work?

Your book of business must contain all clients or customers that you previously worked with. When you sign new clients, include them and their details in your book of business.

Your book of business will likely be ever-changing and changing as new details are added regarding your customers as you build your relationship.

Whatever your business is, keeping a well-oiled book of business involves staying in contact with current customers and clients. In contrast, you build new ones to make sure you’re prominent in their minds when they have an opportunity to meet.

The book you choose to publish should not only include names with the appropriate phone numbers or contact information. A comprehensive book contains details about every transaction, other details, and personal information. Other essentials to have are:

  • Demographics, such as the age of an individual and their occupation
  • Assets under Management, in the event, that it is relevant
  • The revenue generated by this client
  • Referrals where applicable
  • Potential future needs

Maintaining and developing relationships is a vital aspect of your book of business. Because networking is all about creating connections, it’s an essential ability to write a business book.

It is possible to network the traditional method through networking events and other social events. You can also build your social circle through marketing, social media, and branding.

Valuating a Book of Business

Your business book has an economic value as your clients (and your relationships with them) are your past, present, future, and even future earnings. In addition, each client could refer you to a friend, increasing your list of clients in addition to your own business.

Based on the industry you work in depending on your industry, you can determine the value of your book of business by the amount each client contributes to the funds either monthly or annually. For instance, the financial advisor for a particular firm could have a business book with 100 clients and 100 million dollars in financial assets.

It’s satisfying to know how much your business’s book is worth, mainly as it develops. However, it’s common in certain industries to market your work to an outsider.

The abovementioned transaction is frequent in law, investment, or insurance circles. It is a way to sell leads when your book no longer serves you, for instance, when you retire or switch careers.

If you’re planning to sell your business book, it’s an excellent idea to contact your customers or clients to introduce them to your successor. They might appreciate the relationship or even decide to relocate their business.

How to Grow your Book of Business

Track your Clients’ Competitors

Inquire in your book of business what their competitions are. This can help you figure out how they can help them stand out. Knowing what their match it is also a way to create another source of clients and prospects that your team could be able to assist soon.

Be aware not to create conflicts of interest. Instead, use this to increase your knowledge base and network—the business.

Skill Market Candidates

Skill marketing provides top candidates to customers in your business book, even if they’re not currently hiring for the position. Skill marketing helps establish your reputation as a source of top talent.

When the person is skilled enough, the client might be willing to make an exception and take the talent when they have the chance. If they cannot hire that candidate in the shortest time, you position yourself as a good candidate for the client to contact you in the future when they need to fill the job.

Leverage Current Clients

New customer acquisition will cost you five times more than keeping your existing customers. Instead of focusing on net-new customers, boost sales by using those relationships you already have.

Check out your current clients’ open opportunities and then present them to candidates, not in your field of expertise. Utilize your network and connections tools to identify skilled candidates or to sell impressive talents through your network to help drive more sales.


A Book of business describes a professional’s record of clients or accounts. To expand your business professionally, you require a method to keep track of your clients, stay up-to-date with their requirements, and determine the best growth opportunities for your company.

A thorough and regularly updated book of business is a proven strategy to meet these objectives.

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