We were lucky to catch up with Loren Stephens recently and have shared our conversation below.
Loren , thanks for taking the time to share your stories with us today Let’s talk about innovation. What’s the most innovative thing you’ve done in your career?
The most innovative thing I have done in my career is to establish my companies, Write Wisdom and Bright Star Memoirs. after working in numerous enterprises, some of which had no obvious relationship to ghostwriting. In particular I was a principal in a mortgage banking firm, produced theater and documentary films and then “settled down” as the head of fundraising for a human rights organization. After I wrote my mother’s memoir on a lark, I decided to hang out my shingle as a ghostwriter while continuing my day job for a number of years. Some of my most generous donors became my first clients. They trusted me and we knew one another so well that it was an easy transition to go from asking for contributions to asking them about their lives and their personal goals. Eventually, I cut the cord and went full steam ahead into my business and have never looked back.
Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.
When I graduated with a double major in government and English from Cornell University, I really didn’t know what my career path would be. A helpful professor suggested that I get my masters in international relations from Columbia University, and I happily responded to their offer of a fellowship. Truthfully I spent almost as much time frolicking around New York City’s discotheques and working as an art dealer’s assistant as studying for my courses. Somehow I earned my degree, and then got a job working for Education and World Affairs, a creation of the Ford Foundation. A few years later I became an editor at Houghton Mifflin in Boston working in the college textbook department where I was plucked by a mortgage banking firm to write their offering memoranda. I accepted their offer and ended up as senior vice president of the firm originating multi-million dollar deals mainly in the health care industry. When I received my first bonus equal to a year’s salary I realized this might be a good field to be in. I turned away from my secret wish to become a writer. Years later I could no longer resist the urge to write and I have had an incredibly fulfilling fifteen years working with a diverse group of clients who want to tell a story but don’t have the discipline or skill set to get to “The End.” Together with seven journalists/writers Write Wisdom and Bright Star Memoirs have written 40 plus books in various genres from memoirs, to self help, to historical novels. We also advise our clients on the various options to getting their books published. I am proud of each and every book we have completed. Some of our books were written just for family and friends, while others have attracted a large reading public. I am a firm believer in our slogan that “Everyone has a story to tell.”
We’d love to hear about how you met your business partner.
I have two key people whom I consider the angels on my shoulder. One is a documentary filmmaker with whom I worked. Together we produced “Legacy of the Hollywood Blacklist” for PBS; “Sojourner Truth: Aint I a Woman?” “Los Pastores,” as well as a number of corporate documentaries. She mentored me, and many years later I asked her if she would be interested in becoming part of the Write Wisdom team. She is an excellent interviewer and writer and we can finish each other’s sentences having a long working history together. She is still able to work on her films while working with me. The flexibility is paramount for her and for me.
The other person who has been my stalwart partner is my son. He is a graduate of Princeton University where he was an editor of the Princetonian, and he received his masters in urban studies from the Kennedy School of Harvard University. He has a byline for numerous publications in the city planning, urban affairs arena, and is, of course, an excellent writer and editor. He is always my go to guy both for business advice and for partnering on projects that interest him. As with all the members of the Write Wisdom team, I try and match a writer to a project that reflects their expertise and interest. For example, we worked together on a book for one of this country’s most successful real estate developers. My son undestood the lingo of entitlements, zoning ordinances, etc. which came in handy.
Any advice for growing your clientele? What’s been most effective for you?
Word of mouth is always the best way to acquire new clients. I think that is true in any enterprise. Let your clients brag about you so you don’t have to do it yourself. In my business I have concrete calling cards — the books we have written for other people. Showing a potential client a book with a fabulous cover, attractive photographs, and over-the-moon back cover endorsements is alot more effective than handing out a business card.
There are two other strategies that have helped me build my business. One is putting out a quarterly newsletter in which we talk about what our clients are up to with their books; what our team is doing; and what books are about to be published. We also include an interesting article about the publishing industry, or a think piece that will encourage a potential client to consider getting started on the book they have always been wanting to write.
The other strategy that has been tremendously helpful is to work with a ghostwriting agent. Yes, there is such a service. The company sends out an RFP to their network of over 800 writers, sifts through the responses and selects those proposals that have the best chance of being selected. Write Wisdom has acquired five engagements in this way. Call it luck, call it magic, call it hard work.
Contact Info:
- Other: writewisdom.com and lorenmstephens.com websites.