10 Tips on Managing One-Shot Wonders
« Back to Independent Articles
Phase #1: “Oh, my goodness, we’re out of books already!”
1. Check the situation out. Yes, you are excited. Every book you publish is truly a wonder… you think. But this one is getting other people excited as well. Are you just pushing, or is the market momentum creating suction (pulling)?
2. Make reorder decisions.“We need books fast and furious!” Wait a minute, what’s really going on here? Do you really need more books? How would you get them? How many? At what cost? Where will you get the money?
3. Use scarcity to increase demand, rather than kill it. Stay calm. Practice good customer service and psychology. Remember, money is being made, and some people get rude around money.
Phase #2: After the rush. “Phew, that was fun, but now what?”
4. Formulate your plan with a budget for expenses and revenue. Outline three or four major target goals. (Budgets give you permission to spend money.)
5. Push yourself and your staff to dream up ways to spend money wisely-now! You have $10,000 to spend? Yes, but what would you do with $100,000 while making every dollar count! Force yourself to answer this question.
6. Set up a phased-in approach to your plan with three “go/no go” decision points. Don’t spend all the money up front. Ease into it. Be in touch by asking all along the way at each step, “Is the plan working?”-and pull the plug if necessary.
7. Isolate the sensation (your fast-selling book) from the rest of yo…IBPA Members – Click here to view the full article (login required).
From mailings to exhibits, see how IBPA's marketing programs help you grow your sales.Educational Opportunities
Attend a seminar, ask an expert, and get more free advice with our educational programs.Become a member
Access exclusive members-only benefits starting at just $10.