One of my favourite things to do is speak with entrepreneurs and find out more about how they tick and what steps they took to become the success they are.
Today, I am delighted to share with you my Perspectives podcast conversation with Booktopia co-founder and CEO, Tony Nash.
Booktopia is the super large online book seller founded here in Australia - their full-year revenue expectations have been upgraded by 6.4 per cent to $217.6 million compared to last year's prospect.
They hold nearly 200,000 books in stock, ready to ship. They sell an item every 4.8 seconds.
Starting with an advertising budget of just $10 per day Booktopia has carved out this phenomenal niche with some entrepreneurial thinking, vision of the gaps in the market and a sharp focus on what the customers want.
In this podcast we will be delving into:
How and why Booktopia was created.
The Booktopia strategy around profit and how they chose to deliberately not make any profit until several years in
Undertaking an IPO during the pandemic
The ‘Amazon’ challenge
Teams and culture
Sales thinking, and the question he asks every day.
Tony has a fabulous business story to tell, I know you are going to enjoy it!
Some of the highlights you may enjoy: 00:16:00 Tony entered the industry as an outsider, with a different perspective. 00:17:00 An advertising budget of $10 a day to becoming a bustling online force of nature. 00:19:00 The power of understanding your consumers and their wants.
00:25:00 Booktopia’s crowd raising campaign raised $8 million within a six month journey.
00:32:00 Success through the pandemic, 12 years of not making a profit, learning to trust others and delegate; Tony reflects on learning from both his mistakes and his successes.
Sit back and admire the truly inspiring story behind Tony Nash and the creation of Booktopia.