European and International Book FederationsMay 26, 2009

Mark R. Nelson, Ph.D., MBAVP Strategy and Development, NACS Media Solutions

Digital Content Strategist, National Association of College Stores

CHANGE10 LESSONS FOR BOOKSELLERS

Successful organizations scan their environments regularly and broadly.

#1: Our Environment is Changing

Successful organizations build strategic partnerships with others, creating a strategic network of relationships.

#2: Partnerships Are Critical

With innovation, there is typically a wave of product innovation (here now), followed by a wave of business model innovation (coming soon)

#3: Innovation Comes in Phases

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

We must remember what business we are in – Hint: it is not the business of selling printed devices.

#4: Books are Devices

Brian Dettmer Book Sculpture

I. A. Richards, Principles of Literary Criticism, 1924

“A book is a machine to think with.”

“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

Consumers are changing in significant ways, so we must change in significant ways.

#5: Booksellers are not immune to change

Michael Healy, Executive Director, BISG

“Technology is replacing bookstores. And the demise of bookstores by publishers should be mourned for various reasons.”

#6: Innovate NOW!

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 industryhttp://sethgodin.typepad.com/seths_blog/2008/01/music-lessons.html

Successful companies innovate, experiment, and try new things. You need a culture and climate that supports innovation to be successful.

Sometimes it takes a long time for change to happen quickly.

#7: Eventually the New Replaces the Old

New Technology

Old Technology

DisruptionPoint

Perf

orm

an

ce

Time

“Knee of the curve”

Traditional players or “incumbents” often fail to survive during a radical industry transformation because they do not understand this critical lesson.

#8: With New Innovations, Market Share Rules

It is about MARKET SHARE

not MARGINS.

Our new competitors are sophisticated, have lots of resources, and are heavily focused on market share.

#9: The Competition Will Be Tough

#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.

How many of these questions can you answer “yes” to?

8 Questions for Booksellers

ICBA

http://thecite.blogspot.com/

Industry Blog

ANY CONTENTTO ENTERTAIN OR EDUCATE

ANY FORMATPRINT, DIGITAL, ELECTRONIC, OR PHYSICAL

ANY TIMEANY 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.

Contact Information

Mark R. Nelson, Ph.D., MBADigital Content Strategist, NACSVP Strategy & Development, NACS Media Solutions,

LLC120 Broadway, Menands, NY 12204Phone: 518-445-6344E-mail: mnelson@nacs.org Web: www.nacs.org Blog: http://thecite.blogspot.com/