Since I am known as "the lady who is trying to open a bookstore," friends constantly ask me generic questions about my progress. "How's the bookstore going?" "When are you opening?" "Have you found a location yet?" Of course, people want to hear about progress. Sometimes I feel like I don't have a lot to share because there aren't a lot of major changes . . . but there is so much going on behind the scenes!
If there is anything the process of opening a bookstore has taught me, it is how to wait actively. Wanting to always make the most of my time, I desire to be productive, even in the waiting stages of getting this bookstore off the ground. So . . . I have developed a 5-part preparation plan! I bet these are universal steps that any potential business owner goes through . . . Perhaps there is a book in here somewhere.
Part 1
RAISE FUNDS
Everyone on my Facebook page, every friend, every family member, and many strangers know that what I am about right now is fundraising! I'm trying to do this in a number of creative ways:
Running an Indiegogo campaign http://igg.me/p/655132/x/5403657 has been a lesson unto itself--fun, challenging, encouraging, and humbling. My goal is to raise $20,000--15% of what I actually need to start Once Upon a Storybook. The rest I will receive as an SBA loan . . . or maybe I'll get really fortunate to meet an independently wealthy person who would enjoy giving a low-interest loan to a passionate, eager businesswoman. It could happen.
I've sent about 100 letters to friends, family, business aquaintances (friends of my husband's), and local business owners, as well as a couple of celebrities. If I don't ask, they can't say no. And who knows . . . it could happen.
I have been attempting to apply for a James Patterson grant. James Patterson, the most prolific author of our time, is a great friend to independent booksellers. He has pledged to give $1,000,000 this year to independent booksellers. I have gone to the website and registered three times but haven't received any communication back (the site promises an email response, which I haven't received--sigh). So this week, I also sent a packet to Mr. Patterson with my letter, projected profit & loss statement, and Indiegogo perks. It may not get through . . . but it could happen.
In a wilder attempt at raising funds, I am applying to be on Wheel of Fortune. I'm not particularly good at the Wheel, but, as my husband says, "sometimes it is better to be lucky than smart"--and . . . you guessed it . . . it could happen. If Wheel of Fortune doesn't work out, I may get desperate enough to try The Price Is Right. Hey, these shows are just giving money away! It doesn't hurt to try, and I'll make some fun memories in the process!
I work as a freelance proofreader about 5 hrs a week, but I recently was offered a project that will pay an additional $500--that's going straight to my OUAS bank account!
MY GOAL: Raise $20,000 by June 1; have SBA loan approval by June 1.
Part 2
DEVELOP CONTENT
I am a professional children's book lover. People come to me with their children's reading issues, and I need to be prepared. I work with and will be working more with parents, teachers, learning specialists, grandparents, students, children, babies, librarians, and anyone else who has an interest in children's books or literacy. My background has prepared me for this is so many unique ways, but I also want to have materials, content, to put in people's hands. I want to develop workshops and seminars that will be meaningful and educational.
I am developing binders of material that I consider "content" for OUAS--lists of award winners, blogs from favorite authors, lists of storytime material, Pinterest boards full of literature-related crafts. I have to admit, this is the fun stuff. I'd rather research which books and activities to incorporate on Dr. Seuss's birthday than redo my financial statement.
Developing our OUAS calendar is also part of developing our content. Since "there will be no dull days at Once Upon a Storybook," our calendar of events must be intentional. I am researching holidays, special days, author/illustrator birthdays, and early childhood themes so I can find appropriate stories and activities to pair. Ooh, this is sooo much fun!
MY GOAL: Develop activities for all major holidays; develop Pinterest boards for unique activities; write at least one blog post a month
Part 3
EXPLORE PROPERTY OPTIONS
It can't be overstated: Location, location, location! It's the life or death of a brick-and-mortar store.
I have commissioned a couple of marketing reports, and they confirmed what I believed to be true--that Tustin, being in Central Orange County, would be a great place for a children's bookstore. Tustin epitomizes "community"--small town meets neighborhoods meets convenient freeway access.
Originally, I hoped to be in the Plaza Lafayette Center on Irvine Blvd and Newport Ave.
I have also been intentional about searching out options in Enderle Center on Prospect and 17th St.
Old Towne Tustin is also an option.
I'm keeping my eyes open, Tustin. When you've got a cute, available 1400-sq-ft unit, I'm gonna snatch it up!
MY GOAL: To find a location that God provides at the perfect time when I have the finances.
Part 4
EDUCATE MYSELF
Although I have tons of passion and a great background to get a children's bookstore started, there is always plenty to learn, both about the children's book industry and about business in general.
When I first floated the idea of opening a bookstore to my husband (a brilliant businessman), he said, "How do we know we can operate a bookstore? Neither of us has ever been in retail. If you want to open a bookstore, you need to go get some retail experience." BEST. ADVICE. EVER. As a result, I went to Barnes & Noble for almost two years and learned about the bookselling industry, merchandising, event planning, and customer service. It was the perfect pairing with my passion for stories! I learned that--wow--I really am good at selling! And I do have an expertise in children's lit that is valued. I had to leave B&N, as raising money for a bookstore is a conflict of interest, but I loved my time there.
To educate myself about children's literature, I read books, blogs, and articles about current literature. And there is always a lot of new stuff to keep up with. Today, I watched a webinar about using literature to enhance the Common Core State Standards. Because I want to position myself as an expert, that's a lot of stuff to constantly be learning.
Besides learning about what's new in literature, I study news of the bookselling industry. By belonging to professional organizations, I receive lots of info about the indie booksellers movement. Did you know that almost every industry on Earth has its own consultants? The bookselling industry has Paz & Associates. They do incredible workshops and training and are extremely well respected in the industry. They have taught me almost everything I know about the bookselling business.
The last thing I educate myself on is business practices in general. I have to admit, this is the hardest for me (but I am fortunate to have a great businessman in my own house!). I've had to learn about banking, small business loans, technology for business, marketing, merchandising, and--gulp--accounting. Yeah, I still have a lot to learn . . . especially about spreadsheets.
MY GOAL: Research Common Core; read 4 books a month; get and practice QuickBooks
Part 5
BUILD A NETWORK
If location is the life blood of a business, network is the veins and arteries.
My network is both business people and potential customers. I have been meeting with some great business contacts--bankers, consultants, credit merchant specialists, marketing experts. It's even more fun meeting people in the industry--book distributors, POS salespeople. But my favorite is connecting with indie booksellers who have been doing it right! I have friends all over the country. These are the experts, and I want to learn how they do everything they do. And I have learned that booksellers are really generous with sharing their expertise.
But developing that customer base is just as important! When Once Upon a Storybook opens, I don't want any local parents, grandparents, or teachers to be surprised! Fortunately, social media is helpful in this. I am learning to ask people to spread the word by sharing my posts. Friends of friends and their friends is the beauty of Facebook--automatic networking.
The bookselling industry does a great job of hosting events that feature authors and illustrators. Making contact with them is crucial to planning great author in-store events. Authors and illustrators are the rock stars of children's literature. You should see me when I start to talk about Lois Ehlert or Andrew Clements or Tom Angelberger. No kidding, meeting one of these is like a tween meeting Justin Beiber!
MY GOAL: Meet with at least one bookseller a month, have a contact info for 100 teachers in OUSD and private schools around the Tustin area; meet 10 authors before opening
Well, this is it! My 5-Part Preparation Plan that keeps me busy and gives me the direction I need to use my time wisely.
Pin It
