Frankfurt Book Messe 2006 Part III
Before the Book Messe, I tried to figure out who I wanted to see and what I would do for five days in Frankfurt. One of my investors volunteered to sit in my booth for the five days so I could be free to meet with publishers and other companies. Five days. Five days to get some work done on my project and move it forward.
I went to Frankfurt knowing that I needed to find publishers for Hocus and Lotus. The product line is wonderful, created with the approval of the European Union and fully funded for another thirty mini musicals. Not a hard sell and I was happy to find companies interested in the product line. What surprised me at the bookmesse was how many companies are interested in doing joint projects, how friendly publishers are, and how many are looking for new distribution channels. Why is distribution always such a problem?
As I was walking through Hall 8 , which is where most of the American publishers are located, I was amazed at how many products existed for children. Why don't I see these products in the stores? Why don't I have these products available to teach my child? I sat down with one American publisher and she told me two things. One, that Europe does not have an extensive chain of educational stores and that they are having a hard time finding distribution in Europe because they have to rely on catalogue sales. The second thing that she told me is that Korea has just started an educational initiative and that Korean companies have lots of money to spend on educational products.
I am still not sure how this second point of information will affect Sofia Verlag, Inc. but I know that the first point is very important for me. My company is looking to create a distribution channel and I now have companies voicing their need to enter the European market. I like that. It means that I will have my choice of products and that this distribution model is not currently developed in the European market. Will Sofia develop into a chain of stores? Is that where it will ultimately lead? Who knows.... all I know is that my busines plan is on target and I can happily continue developing Sofia knowing I am on the right track.
Knowing that I am on the right track, I met with my adviser Andy Goldstein yesterday. He is a very busy executive and I ambushed him in his office. I ambushed him because I wanted an answer immediately and didn't want to wait any longer for an anwer by email. My initial intention was just to drop off some product for him to look at but my unscheduled visit worked out and I got to sit down and chat with Andy for a few minutes.
Andy asked me to clarify my business strategy. I do have a strategy, it is just a bit fluid. I know my goal is to build a distribution channel for women. Since I am underfunded, my strategy is to fund my company by working as an agent and product scout. One American publisher said I have many irons in the fire.. but doesn't every entrepreneur. We do what we need to do.
This form of distribution is not new. It is an old system being used for a new product line. The system works but there are not enough software products to support it, so how do we start? I am starting with what is out there to build the channel. Like Mcdonalds, you have core products, Hamburger and fries. My hamburger and fries are books with Audio CDs. Sofware will be my chicken nuggets... a favorite but not an original product to be added when quality products become available or visible to Sofia.
I went to Frankfurt knowing that I needed to find publishers for Hocus and Lotus. The product line is wonderful, created with the approval of the European Union and fully funded for another thirty mini musicals. Not a hard sell and I was happy to find companies interested in the product line. What surprised me at the bookmesse was how many companies are interested in doing joint projects, how friendly publishers are, and how many are looking for new distribution channels. Why is distribution always such a problem?
As I was walking through Hall 8 , which is where most of the American publishers are located, I was amazed at how many products existed for children. Why don't I see these products in the stores? Why don't I have these products available to teach my child? I sat down with one American publisher and she told me two things. One, that Europe does not have an extensive chain of educational stores and that they are having a hard time finding distribution in Europe because they have to rely on catalogue sales. The second thing that she told me is that Korea has just started an educational initiative and that Korean companies have lots of money to spend on educational products.
I am still not sure how this second point of information will affect Sofia Verlag, Inc. but I know that the first point is very important for me. My company is looking to create a distribution channel and I now have companies voicing their need to enter the European market. I like that. It means that I will have my choice of products and that this distribution model is not currently developed in the European market. Will Sofia develop into a chain of stores? Is that where it will ultimately lead? Who knows.... all I know is that my busines plan is on target and I can happily continue developing Sofia knowing I am on the right track.
Knowing that I am on the right track, I met with my adviser Andy Goldstein yesterday. He is a very busy executive and I ambushed him in his office. I ambushed him because I wanted an answer immediately and didn't want to wait any longer for an anwer by email. My initial intention was just to drop off some product for him to look at but my unscheduled visit worked out and I got to sit down and chat with Andy for a few minutes.
Andy asked me to clarify my business strategy. I do have a strategy, it is just a bit fluid. I know my goal is to build a distribution channel for women. Since I am underfunded, my strategy is to fund my company by working as an agent and product scout. One American publisher said I have many irons in the fire.. but doesn't every entrepreneur. We do what we need to do.
This form of distribution is not new. It is an old system being used for a new product line. The system works but there are not enough software products to support it, so how do we start? I am starting with what is out there to build the channel. Like Mcdonalds, you have core products, Hamburger and fries. My hamburger and fries are books with Audio CDs. Sofware will be my chicken nuggets... a favorite but not an original product to be added when quality products become available or visible to Sofia.
Comments