Barefoot Books vs. Scholastic
The challenge: Finding the right way to sell children's books.
What she did: Nancy Traversy isn't afraid to challenge conventional wisdom. Her publishing house, Barefoot Books, known for beautifully illustrated children's classics like Animal Boogie, pulled out of national store chains years ago because they made her eat large quantities of unsold books; she severed her relationship with Amazon this year out of frustration over its discounting of her products. Now the firm, based in Cambridge, Mass., sells via partnerships with companies like Lakeshore Learning and a network of home-based sellers called Ambassadors. "We've gone in the opposite direction of most publishers," says Traversy, 52. The 21-year-old company, which she says is profitable, is making strides, projecting $7 million in revenue for 2013, up $1 million since last year. Meanwhile, it has marched into the digital age with its award-winning Barefoot World Atlas app for the iPhone and iPad, already downloaded 4 million times.
|Bitcoin: taxes are the real reason it's doomed|
|Apple wants Samsung to pay $40 per phone for five patents|
|iTunes Radio overtakes Spotify, gaining on iHeartRadio in U.S.|
|Ukraine 'will not lose' if Crimea secedes, official says|
|Buffett's annual letter: Learn from my real estate investments|