CHANGE 10 LESSONS FOR BOOKSELLERS European and International Book Federations May 26, 2009 Mark R. Nelson, Ph. D. , MBA VP Strategy and Development, NACS Media Solutions Digital Content Strategist, National Association of College Stores
Competitive Forces Economic Forces Regulatory Forces Social Forces Technological Forces #1: Our Environment is Changing Successful organizations scan their environments regularly and broadly.
#2: Partnerships Are Critical Successful organizations build strategic partnerships with others, creating a strategic network of relationships.
The problem is not the products’ appeal, but in figuring out a business model that will succeed. “I have not interviewed any owner of an ebook device who says that I should not have bought the thing. ” Richard Doherty, NYT: Published: February 9, 2009 #3: Innovation Comes in Phases With innovation, there is typically a wave of product innovation (here now), followed by a wave of business model innovation (coming soon)
“A book is a machine to think with. ” I. A. Richards, Principles of Literary Criticism, 1924 “What is published is less about the book and more about the people who read them. ” Peter Brantley, Tools of Change, 2009 “Our great grandchildren will think of reading as a social experience. ” Bob Stein, Institute for the Future of the Book, 2009 Brian Dettmer Book Sculpture #4: Books are Devices We must remember what business we are in – Hint: it is not the business of selling printed devices.
“Technology is replacing bookstores. And the demise of bookstores by publishers should be mourned for various reasons. ” Michael Healy, Executive Director, BISG #5: Booksellers are not immune to change Consumers are changing in significant ways, so we must change in significant ways.
The new thing is never as good as the old thing, at least right now. Soon, the new thing will be better than the old thing will be. But if you wait until then, it’s going to be too late. Feel free to wax nostalgic about the old thing, but don’t fool yourself into believing it’s going to be here forever. It won’t. Seth Godin, Lessons from the music industry http: //sethgodin. typepad. com/seths_blog/2008/01/music-lessons. html #6: Innovate NOW! Successful companies innovate, experiment, and try new things. You need a culture and climate that supports innovation to be successful.
Disruption Point Performance New Technology “Knee of the curve” Old Technology Time #7: Eventually the New Replaces the Old Sometimes it takes a long time for change to happen quickly.
It is about MARKET SHARE not MARGINS. #8: With New Innovations, Market Share Rules Traditional players or “incumbents” often fail to survive during a radical industry transformation because they do not understand this critical lesson.
#9: The Competition Will Be Tough Our new competitors are sophisticated, have lots of resources, and are heavily focused on market share.
#10: There is Hope There are things stores can do, and at NACS we are heavily engaged in defining and creating a future for our members.
ICBA 8 Questions for Booksellers How many of these questions can you answer “yes” to?
Industry Blog http: //thecite. blogspot. com/
ANY CONTENT TO ENTERTAIN OR EDUCATE ANY FORMAT PRINT, DIGITAL, ELECTRONIC, OR PHYSICAL ANY TIME ANY HOUR, ANY DAY, ANY PLACE NACS Media Solutions NACS creates a new subsidiary in July 2008 to help improve the capability and credibility of college stores as it relates to providing digital content solutions.
Mark R. Nelson, Ph. D. , MBA Digital Content Strategist, NACS VP Strategy & Development, NACS Media Solutions, LLC 120 Broadway, Menands, NY 12204 Phone: 518 -445 -6344 E-mail: mnelson@nacs. org Web: www. nacs. org Blog: http: //thecite. blogspot. com/ Contact Information
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