Mark Rubbo from Readings Books on what it takes to create and sustain an iconic business, and why handing over was harder than expected.

Show Notes

@MarkRubbo from @readingsbooks shares his personal take on buying and building this iconic business. We cover a lot of ground including;

• How the opportunity to buy Readings came about
• Laving the music industry (Professor Longhair) for book retailing
• The linkage of Marks business ambitions with the impact on;
  • the Australian book industry
  • the broader literary community (writers, publishers)
  • the local community
• Mark's ambition and opportunistic mindset to expanding Readings into multiple other locations, and the establishment of an online presence
• The importance of community engagement, author events and creating a vibrant bookstore
• The physical bookshops as a unique experience, with the opportunity for discovery
• Why Government support for bookshops is crucial in preserving the cultural value they bring to communities
• Transitioning out of the CEO role and ensuring a smooth succession to maintain the unique flavor of Readings
• The challenges and rewards of running an independent bookstore
• The impact of Borders Books when it opened directly opposite in Lygon St in the early 2000's
• The impact of online retailers like Amazon
• His experiences of succession planning, and advice for other small bookshop owners - to ensure the continuity of their business and to pass on their legacy.
• He also talks about his current projects;
  • The Book Sellers podcast - https://podcasts.apple.com/gb/podcast/the-booksellers-podcast/id1683259417
  • #Indigenousarts
  • #literaryprizes
  • @beyondblue
• And finally what it's really like to 'move on', and hand over day to day management

QUOTES:

"Sometimes founders rightfully wrongly put everything they've got into it and other people get to benefit from it."

"I hope Readings has been a sort of community focused business."

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Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.smallbusinessbanter.com.au