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Episode 3: How Not to Run An Online Bookstore: Financing

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With Writing Show host, Paula Berinstein

DOWNLOAD AND LISTEN TO “HOW NOT TO RUN AN ONLINE BOOKSTORE, EPISODE 3? MP3 HERE

VIEW A TRANSCRIPT OF “HOW NOT TO RUN AN ONLINE BOOKSTORE, EPISODE 3? HERE

 

In 2003, Paula Berinstein and her husband did a really stupid thing: they started an online bookstore. In 2004, humiliated and a great deal poorer (but wiser), they closed it.

In episode 3 of “How Not to Run an Online Bookstore,” Paula explains sadly how they financed their ill-fated store and reveals:

  • Why it’s so hard for startups to get bank loans
  • Why it’s so hard for retail businesses to get angel or venture funding
  • Why she didn’t go for a small business loan from the U.S. government
  • Why she couldn’t depend on sales revenue to finance her business
  • How she ended up financing her store

Join Paula for this multi-part series that will be aired a little at a time. And for heaven’s sake, don’t do what she did!

Interviewee: Paula Berinstein
Host: Paula B
Date: January 24, 2006
Running time: 6:33 minutes
File size: 4 megabytes
Rating:: G

DOWNLOAD AND LISTEN TO “HOW NOT TO RUN AN ONLINE BOOKSTORE, EPISODE 3? MP3 HERE

4 Responses to “Episode 3: How Not to Run An Online Bookstore: Financing”

  1. Banjax Says:

    Hi Paula

    I enjoy ” How not to run an Online bookstore ” episodes and in particular because I once had the idea of a second hand book shop but your podcasts have helped me overcome that particular compulsion! However I have always wondered about how independent book publishers get started and make a living as they would seem to face similar obstacles in promoting books as emerging authors. I would like to suggest a future topic for podcasting “How not to run an Independent Book Publisher ” as I am sure there many writers out there who would be interested in seeing the business of book selling from a publishers point of view.

  2. Administrator Says:

    Thanks, Banjax. I’m glad you’re enjoying my disaster story. :)

    I think second hand bookstores are facing a huge problem right now because of the sale of used books online. It’s so easy to buy and sell from your desk now that the physical stores are really hurting.

    I think your suggestion is fantastic and will see what I can cook up on independent publishing. Got any leads?

  3. Banjax Says:

    Hi Paula

    Unfortuneately I am not involved in the book business in any way but I suggested it because I just noticed the Olga Gavin podcast and wondered if any of the previous interviewees would have any contacts?

    On a separate note the download link to part 2 of the Olga Gavin podcast seems to be missing?

  4. Administrator Says:

    Hi, Banjax,

    I’ll see what I can do. Somewhere, somehow, someone in independent publishing will have a story. The trick will be to get them to talk about their experience. :)

    Thanks for the correction on Olga’s interview. I’ve fixed it. Let me know if you’re still having trouble with it.

    Best,
    Paula