Running Into 2011 With A Map!

Happy New Year everyone! After two weeks of on-and off merrymaking it’s time to “hit the books” again. I, for one, am glad, as working never fails to get my creative juices bubbling like the contents of a mad scientist’s smoking beaker. I also bought an array of new books yesterday at an auction held by my favorite auctioneer, Don Wallick, the king of auction patter, so am anxious to list them and officially launch the 2011 bookselling season. Looking back on the year, this one has been the bumpiest of my fourteen in  business.  I emerged a little banged up and scarred, but  thankful to still be operating in the black, as well as excited and looking forward to a blank new calendar.

My biggest challenge this year was acquisition, as you know. We made only one significant purchase right after the Akron antiquarian book show when we bought a collection from a show attendee. Other than that, it’s been a few books here, a few there, and some ebay buying. But this year we’re committed to being much more aggressive in our pursuit of stock by employing all venues and setting a goal requiring steady, weekly acquisition.

Many of the other problems we faced are endemic to us all – the competition from e-readers, free PDF downloads, print-on-demand, inexperienced sellers manipulating prices downward, and the massive influx of hobbyists crowding FOL book sales. I don’t scan – never have, never will – and am confident in my ability to choose books, but the sheer number of scanners guarantees less access to what few really good books are available.  Consequently, FOL sales have taken a backseat to other modes of acquisition, though we will still attend some this year, perhaps even more, but with a new acceptance of their realities and more modest expectations.

The other body blow of 2010 for us was the loss of ebay. Yes, I quit of my own volition, turning my back on both power seller and preferred seller icons, but ebay’s  best match algorithm coupled with their ever-escalating fees presented as “the lowest ever” – not to mention the arcane rules which emerged from a new attitude of corporate greed – gave me plenty of impetus. I miss the old ebay dearly, but I stand by my decision to leave the new ebay. Yes, my bottom line would have looked better had I stayed, but not significantly enough to have endured the stress. The other downside which emerged from the loss of ebay was the decision to sign up with Bonanza, an exciting, attractive new site which, frankly, did not work for me. Why this is I don’t know. I worked it intensely – too intensely – and ended up not spending enough time on the sites that perform well. So that, too, ended up being a bad move. I signed up in June, realized in October that it was time to let it sink or swim on its own, and have not looked back.

On the plus side, we displayed our books at the Akron antiquarian show this year for the first time and enjoyed an enormously successful outcome which revs up our enthusiasm for this year’s show. We also opened our booth at the antiques mall and  showed a profit for both of the two accounting periods. Of course we opened during the holiday season, so it remains to be seen what happens now that it’s over, but at this moment I feel a sense of growing optimism. Eric showed a marked uptick in used book sales at the store this year and that, plus our experience at auctions, convinces us  that there is still plenty of interest in the physical book. It could be that our emphasis may shift more toward local sales. I don’t know this for sure of course, but it’s a possibility and one which may be just fine given the ridiculous price structure for most online books, the ever-increasing cost of shipping them without adequate remuneration, and the independent bookseller’s eroding  autonomy in cyberspace.

Either way, there’s no question that we will remain online. In fact, I’m considering a new website design right now. Internet selling is essential for moving quality books of very narrow, specific interest which constitutes a good portion of our inventory. However, my attitude toward online sales is undergoing a sea-change. I am actively, though gradually, decommissioning old stock in an effort to rebuild a quality list, rather than clutter my website with books that won’t sell there given today’s realities. Rather than lower prices to meet those of the “penny sellers” we will either move decommissioned inventory to the mall or to the store this year.

All  told, 2010 won’t win a spot in my Bookselling Hall of Fame, but we’ve been supernaturally immune to difficulty since we opened, so I guess it was our turn to hit the bricks. In some ways it’s  been a good thing because it’s forced me out of my comfort zone, made me think of myself and my business as a brand, and challenged me to lose, or transform,everything that doesn't support that brand. If you haven’t done so already, I urge you to do an end of the year summation too, whether you are assessing your business or life in general. The worst thing any of us we can do is go forward with a “business as usual” attitude because the fact is there IS no business as usual. In today’s world  information doubles faster than the speed of light. To keep the pace we need a detailed map, a good detour plan, and a pair of heavy-duty running shoes. Mine aren't too comfortable yet, but I'll be breaking them in tomorrow morning around five.