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

@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."

Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

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.ownertoownerpodcast.com.au