21 Publishing Management Tips
4 On generating new revenue: "It's easy to fall into the trap of chasing growth that ultimately leads to decline. I've seen so many companies do this, and I've worked for far too many managers who have done this. Why work so hard to get nowhere? Instead of rushing in like everyone else, look really hard for the kinds of opportunities that have a better chance of sticking around. Don't be afraid to test new ideas. But do it wisely."
5 On creating ancillary products: "If you have successful product lines, be very picky about what you do to supplement them. If you are fortunate to have a strong brand, obviously it makes wise business sense to play off the brand and add ancillary products. But look at your brand as a valuable, yet depleting resource. Don't overuse it. Overuse can quickly ruin brands. Because products are relatively easy and inexpensive to create, publishing has become such a copycat business. The backlash is that customers and professionals start to tune out at some point and stop buying."
6 On getting the staff to care about the bottom line:
"I think that staff can have a difficult time caring about the bottom line because so many companies aren't really honest or straightforward with how they keep track of everything financial. Employees often … stop paying attention. Every time I hear a manager use a term such as 'EBITDA' [Earnings Before Interest, Tax, Depreciation and Amortization] I want to scream. The other important thing is to not hide bad news. The only thing 'bad' about bad news is that when it is hidden it just gets worse and becomes a greater wedge between you and the people that you work with."
Tad Crawford is publisher and president of Allworth Press (www.Allworth.com) in New York. The publishing company specializes in helping creative professionals succeed in their careers. Allworth publishes about 35 titles a year and has a back list of approximately 250 titles. Two of its better-selling titles are "The Elements of Graphic Design" and "Emotional Branding." Crawford's tips …