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                                                          Windfall management methods

 

 



With the above;

  

 

 

In today's global business is dominated by giants in the publishing market, a company located near London's Soho to successfully occupy a place. The company's success is not flash in the pan, but steadily evolved.

    It will be a new product to market, the product unexpectedly achieved unprecedented success. Products are sold worldwide, the company's situation changed completely. Within five years, the company's sales increased from $ 21 million to $ 190 million.

 

    The company is Bloomsbury Publishing PLC, its huge success from the publication of rage '• Harry Potter "series of fantasy novels. The novel series of five sold worldwide total of 200 million, most of which was published by Bloomsbury's. Bloomsbury therefore made a windfall, it also brought challenges to the enterprise, although this challenge is often not being seriously.

 

    Is the unexpected windfall of business opportunities. Just a product or a brand, we can produce huge profits, exceeding original expectations, but also exceeded the normal capacity of firm size and market profits that can be achieved. Unexpected commercial success will bring good results: sales by leaps and bounds, rolling in profits, business conditions that fundamentally changed, with the past is not the same.

 

    How companies get a windfall has been taken the trouble to be parsed. Innovative companies can try, daring adventure and nurture star product, it may rely on luck to send a windfall. Everyone dreams of the sky to fall out, though understandable, but often only a pipe dream.

 

    Made a windfall, but after how to manage, but few studies, in fact, this issue should arouse people's attention. Unexpected commercial success only brings obvious benefits, but also the enterprise management level some challenges, not good management, good luck may be wasted. For each such good luck as Bloomsbury's company, also faces the risk of accidents, some companies made a fortune after, do not know what to do next up.

 

    Made a windfall for the company, the key question is what to do next, how to effectively manage these sudden wealth? The following are key points.

 

Seize the opportunity to harvest

 

    The face of unexpected opportunities, first and foremost principle is to be at a critical time can handle it. Unexpected opportunities immediately a huge market demand, if there is not enough inventory, will soon outstrip supply, surprising.

 

     Take the example of Osborne Computer Corporation for instance, in the early 1980s, Adam • Osborne (Adam Osborne) developed the Osborne 1 computer, which at the time of epoch-making significance, it unified software package, weighing only 24.5 pounds, at the time was considered "portable computer." Moreover, Osborne 1's price is only 1,785 dollars, which is very attractive to customers and, therefore, orders started to pour. In 1981, the company sold 8,000 units Osborne 1, the second year the company sold 11 million units. Company led this technological revolution, Adam • Osborne confident, self-satisfied, as if age is a hero, or even the leading heroes of the era.

 

    However, Osborne did not deliver on time, this excellent opportunity would only end up Jifeidanda. In 1982, the company announced a loss of $ 8 million, and pending orders have been routed to a 25 months later, the fanatical pursuit of the latest technology for people who can not be tolerated.

 

    Compaq and other competitors face challenges, Adam • Osborne announced the immediate availability of a new generation of computer Vixen, the results of this strategy is that consumers are looking to buy new models, resulting in poor sales Osborne's old models . Osborne had declared bankruptcy in 1983, consumers had no chance to see the Vixen.

 

Calm state of mind

 

    The second key is to stay calm. It sounds easy, but it is hard, especially when the phone rang non-stop orders, the factory operating at full capacity in the case.

 

    Bloomsbury is an important weapon is the founder and CEO Nigel • Newton (Nigel Newton). In the publishing industry has always been conservative, the Newton is considered to be highly entrepreneurial managers. The most important thing is the California Institute of the British people have the ability, low-key deal with this unexpected success. He will not the street in London Charing Cross announced his personal success, as he would not go around to promote "Harry Potter •" how much money to Bloomsbury.

 

    Unexpected business opportunities needs of business managers to remain calm, do not be dazzled by the dawn of victory, as often only lead to failure. In the long history of enterprise development, floating over the sight of people who believe that the success of broken dreams.

 

Development of derivative products

 

    After made a windfall, it is easy to just sit down and Shu Chaopiao. After all, "Harry • Potter" franchise Bloomsbury's sales accounted for 60% of sales. But it was only after the reactive rather than pre-prepared, is very dangerous, because who do not want to only do one-shot deal.

 

Fat derivatives, need satisfaction on the market and market saturation has made between a sophisticated judgments. To make this unexpected opportunity to continue and achieve the best results, you need different media to re-packaging products. A best-selling book can be made into a movie, made into a game, you can become a variety of toys and other products. The problem is that in allowing this product to exist as long as possible while not leaving because of the proliferation of consumer products lose interest too. Must take appropriate balancing act, for example, the effective control of the "Harry • Potter" series of products named, while letting partners to maximize business profits.

 

Brand Management

 

    Consultant Leslie • Kesa Fu (Leslie Kossoff) said: "get a windfall after the brand management and management of windfall itself are equally important. Managers have a clear head and know what their company is and what direction Development. "

 

    The trick is to brand management dug into the pot of gold, not to single brand products. For example, Oreo (Oreo) cookie's pot of gold comes from Nabisco, but since then the company maintained a strong multi-brand and common development. Disney's Mickey Mouse in the same thin body on the support from the huge entertainment empire.

 

    Kesa Fu said: "Bloomsbury may not want to be seen as a children's book publishers, but consumers have the impression that, to a large extent from the" Harry • Potter. "They not only have to take informed decisions , just as they have done, and will not become a "Harry Potter •" victim of success, but also people outside the publishing industry to ensure that readers come to believe --- Bloomsbury publishing in other fields can also do a good job . "

 

    Rowling's U.S. publisher Scholastic is also from the "Harry • Potter" series to earn huge profits, because the more power, greater sales of books. But Scholastic is no sense of brand identity as Bloomsbury. It is not only sales of $ 2 billion per year of large companies, but Rowling's books it is exactly in line with the main children's book publisher position, but it did not take advantage of this opportunity to expand the impact of the company's brand.

 

Investing in the future trend

 

    With the continuous influx of cash flow, business without worrying about short-term funding. They can choose a lot of money, such as the construction of a new office building or buying a business with the aircraft, can also choose to plan for their future.

 

    In this regard, Bloomsbury also provides a good example. In 2002, the company's future development and investment of up to $ 17 million, up 55% over the previous year. With the pot of gold, Bloomsbury has sufficient funds to attract world-class best-selling novelist, but it did not. Because one of the strengths publishers is to develop new writers, rather than pay high prices to buy has become famous writers. Bloomsbury's Newton said: "We do not follow trends, we want to lead the trend."

 

    Bloomsbury order to increase their stability has been sought in some publishing industry "evergreen tree" project on the investment. It spent $ 26 million, big acquisitions, including the publication Who's Who, Black's Medical Dictionary and the Blue Guide travel guide books and other brand-name company A & C Black. Publishing industry is a stable, traditional industries, with more than 70% of sales from backlist or former clients of the new orders.

 

    Bloomsbury electronic media product manager, Jonathan • Graham Springs (Jonathan Glasspool) explains: "'Harry • Potter" is a windfall, but that does not change the principles of our business it to our benefits is that we are becoming more daring in the investment, and we have a responsibility to invest wisely and not wasted. "

Reconstruction operation mechanism

 

    Harvard Business School, Donald • Saar (Donald Sull) professor suggested that all business enterprises in case of accident cases from the many lessons, such as Polaroid snapshot, Xerox, Apple Computer's Macintosh machines ( Apple introduced in 1984 models) and IBM's 360 series (the early 1960s, Brooks chaired by the senior computer scientist and lead its development).

 

    In these cases, the new product in the enterprise to achieve a dominant position. Sweetness in the taste, the company began remodeling the new product as the core operating system. IBM 360 series for the establishment of a special electronic equipment, and systems integrators from the beginning to the manufacturer's transfer. After the success of the Mac, Apple's new product development process for each production process design and implementation of all do the same.

 

    Saar said: "A product can bring great wealth, but the danger is that companies believe they have found an invincible position in the market competition of magic, and in all aspects of business management as that score." windfall to the enterprise funds should be sufficient, so that enterprises may be institutionalized in all aspects.

 

Another lesson learned

 

    Many lost their last chance of success, because the parties in the face of unexpected success too excited. • branding expert Sam Hill (Sam Hill) said: "We have the most profound experience is that when the opportunity comes, we must firmly grasp good use."

 

    Success can be very confident, but also very easy to very arrogant. Unexpected opportunities to better control the management of knowledge requires not only solid, but when the opportunity comes, to know humility, because this is just luck. • Like Nigel Newton, Bloomsbury said: "The success of book publishing is the taste, common sense, marketing, professional acumen and luck with a product which is most important is good luck." Of course, some people prefer to believe This is magic at work.