In today's session (13/05/13), we presented our
business plans to receive feedback and listen to each other's ideas. My
business idea is a community forum, which would be run by a traditional
publisher. The site would be utilised by publishers for market research; by
authors to communicate with readers; and by readers who will have the
opportunity to both communicate with authors and the web editor, and to suggest
titles to the publisher that they would like to be published. Uniquely within
the publishing industry, the site will request users to contribute a small
amount towards the production of the book the user votes for. Crowdfunding is a
useful tool for new ventures as the entrepreneur has the ability to engage with
a community to gain feedback and ideas. I believe this site would be of most
benefit to niche publishers. Osprey, for example, have sold £35,000 books based
on user generated suggestions.
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