Rochelle Grayson

There has been a great deal of discussion about Amazon’s recent announcement and pricing for the Kindle 3. (And yes, I will probably be purchasing one!) Many are saying that the Kindle 3 may very well put an end to the eReader wars, with Kindle clearly on top. (The iPad appears to be in a category of its own.) I still think it’s too early to say. That said, Amazon has made an interesting business move and here’s why…

Much like Apple, Amazon is building an ecosystem around digital content and the Kindle eReader. But, unlike Apple, Amazon is betting on digital content not the hardware. It is well known that Apple makes more significant margins on hardware sales and not as much on iTunes or its Apps Store. (I haven’t seen any figures yet for the iBookstore.) Amazon seems to be following a different approach and is betting on its Kindle/Amazon Stores to be the revenue drivers. (I guess it is similar to the HP printer model, where profits are generated from the consumables and not the hardware.)

Given Amazon’s leadership position in the ecommerce and online shopping space this makes perfect sense and it will be interesting to see if there comes a time when the Kindle will even be sold at a loss (people are already saying that it’ll be $99 within the next year).

Both Amazon and Apple are playing to their strengths and I look forward to seeing how these business models pan out in the coming months! Will it be an Amazon vs. Apple world? What role might Google play with the launch of Google Editions? Can B&N or Kobo come from behind?

What I do know is that exciting times are ahead and I am thrilled to be a part of this amazing publishing transition!

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It’s official! After my last post about the challenging business environment in Vancouver, I am thrilled to announce that I have taken on the role of CEO for a top-notch startup called BookRiff! So, Vancouver, like it or not, you are stuck with me for a little more time

I am extremely excited by BookRiff because they have developed a solution to a very important (and fundamental) issue facing media today, namely: How can consumers use media as they wish, while also ensuring that content owners get paid?! BookRiff answers this question quite elegantly and simply.

Essentially, BookRiff is a technology platform that allows consumers to mix content from virtually any source–published books, websites, and their own files–to build custom compilations called Riffs. Think of Riffs as “Mixtapes of Text”. Each time a Riff is distributed, all content owners and contributors get paid. BookRiff’s technology manages the authoring, bundling, licensing, attribution, and payment details for each of these custom compilations. That’s pretty powerful!

To provide a little history, BookRiff was initially incubated within Vancouver-based D&M Publishers, one of Canada’s largest independent publishers, and was recently spun-off as an independent venture.  I have been “dating” the company for a couple of months and we mutually decided it was finally time to “go steady”! I am thrilled that President of D&M Publishers and founder of Bookriff, Mark Scott, has entrusted me to drive BookRiff’s future success! We already have some great partners and plans in place and we are building a phenomenal team! Do stay tuned for more exciting announcements in the very near future!

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Yesterday, I read a great post by Alex Samuel, “Even in a virtual world, where you live still matters“. Her thoughts were incredibly apropos because recently, I’ve been stewing about what the city of Vancouver has to offer business people like myself. As I stated almost two years ago, Vancouver has the potential to truly become a global business centre. I’m sitting on several municipal, regional, and industry Boards to play my part and what I hear over and over again  is that Vancouver lacks the senior management talent and financing/investment ecosystems to reach its full potential. And, I couldn’t agree more!

I’m often referred to as one the “Exotic Birds” here in Vancouver. (I’m not sure if that’s a good thing or not. ) I have lots of senior management, operations, finance and investment experience and the city would like to court more people like me. So, why aren’t there more people like me in Vancouver? Well, based on my experience, I think there needs to be a realignment of what it “costs” to be a global business player.

Recently, I’ve been approached by several local companies and organizations to join their teams, and while the opportunities have been very exciting, the conversations have come to a screeching halt (a little exaggerated) once dollars start being discussed. Now, I do understand that Vancouver isn’t NY, San Francisco or Toronto, but why am I consistently presented with compensation packages that equate to what I earned 10 years ago?! (And, this is not to point the finger at any one Vancouver company; this has happened numerous times.) At the same time, I’m being heavily courted by companies in other cities that are offering packages that are 2-3 times higher.

I really want to stay in Vancouver! But, as a business person, I am trained to balance opportunities with maximizing revenues. And, that’s exactly what these companies want me to do, once hired. So, why would I act any differently when it comes to my own earning potential. Now, I am not completely mercenary. (Frankly, if I were, I would be much richer and definitely NOT living in Vancouver.)

So, where does that leave us… well, I would like to see a shift in valuing those very skills that seem to be lacking here.  Right now, we aren’t raising the bar to make Vancouver business opportunities attractive on a global scale! (To this point, I have spoken with at least a dozen phenomenal/qualified/ambitious colleagues in the past two weeks and we all joke that we’ll meet at YVR on our way to companies that do value us.)

Vancouver did a fabulous job raising the bar for the Olympics and for two weeks it truly felt like a global city! Now, we need to take that same energy and investment to make it become a world-class business environment! I’m not leaving, yet…but, I am putting the city on notice!

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Happy Labor Day! Today is the last day of summer and now, it’s time to get back to business as the “New Year” begins. I’m re-reading a few books/posts as I prepare for my next venture (yes, there is something incubating and I’ll report back in a few weeks or so )

I am finding some interesting (and unsettling) discussions about “old” leaders/entrepreneurs. On the interesting side, there was a post in Techncrunch this morning about the benefits of older entrepreneur leaders, and I was also impressed with Jay-Z’s recent interview on Bill Maher, especially in answering why an “old” man (40) like him is still successful in a industry that’s all about youth. On the unsettling side, I do get a sense that a quote in Seth Godin’s, Tribes, best describes what I sometimes hear/sense from younger entrepreneurs:

…some people admire the new and stylish far more than they respect the proven state of affairs…As a result, new ways of doing things, new jobs, new opportunities, and new faces become ever more important.

Well, technically, I now fall into the “old” category! (Although, thanks to my parents, I’m told I look younger ) Am I one of those “old, stodgy, outdated” leaders/entrepreneurs?! I’ve always said:

I’m a Gen Y in a Gen X body! I’ve always been a change agent and have even been too early to a market.

So, what makes me and my “older” colleagues successful in industries that seem to value youth?! I would argue that it is a combination of curiosity, flexibility, AND experience allowing us to have a unique perspective, as well as, partnering with 20-somethings who have the energy, time, and market insight to launch new and sustainable ideas!

Perhaps, I’m only saying this because I’m 40. If I were 28, I might be disagreeing with this argument. There are still a lot of amazing opportunities out there and I plan to bring ALL of my experience (and flashiness ) to every endeavor I’m part of. I’ll be sure to keep you posted…

Happy New Year!

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Today, I read a great analysis of the Media industry by Paul Sweeting that rang so true! Here’s what Paul said:

On the Web, value is not created primarily by either content or distribution. Users create value out of content through the use of tools that enable them to do something with the content, whether it’s to move it, share it, reformat it, store it, discover it, mash it up or embed it. What the media companies most sorely lack is not sufficient content or adequate distribution but a workable mechanism for capturing a fair share of the value users are creating for themselves. Ultimately, media companies need to become not distributors or content owners but enablers.

At Donat Group, we often have this conversation with media clients — both large and small. It is always interesting to propose a scenario to them in which neither the content nor the distribution have significant value and to see where the conversation meanders. When we present our model of Audience Engagement Value, most clients are initially quite surprised. (I know this sounds like B-School/Corporate-speak, but bear with me ) What this all boils down to is the fact that today’s audiences (however you define “audiences”) want to do something with content — theirs, yours, it doesn’t really matter.

So, the real questions on the table are: What is that “something” you’re going to let them do?! And, is there perceived value to them in doing that?!

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I’m exhausted! This past week, Vancouver hosted two of its largest digital media conferences, the Vancouver International Games Summit (VIGS) and the Vancouver International Digital Festival (VIDFEST), simultaneously!

I was very fortunate to connect with several bright, sharp and visionary people and am still digesting all the nuggets of wisdom that were doled out. It’s going to take a while before completely internalizing all that I heard.

I must admit that I am always most interested in the question of “What’s happening with ‘Business’?” All I can say is the only consistent answer I heard was: Change! Awesome!! Changing business models mean lots of new opportunities and challenges, and, of course, lots of uncertainty! I thrive in uncertainty!

As a teaser, here are a few of the “nuggets” that have me stewing:

• Social Capital and its role in the Social Media Economy
• The Importance of Micro-transactions in Social Media Monetization
• The Importance of Social Experiences to ALL media businesses
• Synergizing the Mob
• New Leadership and Organizational Models
• Agile Business Planning

Unfortunately, I don’t have any concrete answers right now; lots more thinking to be done! If you’re interested in batting around some of these ideas with me, do send me a note!

In the meantime, I’ll try to catch up on my email backlog and recharge my battery before my week begins…and, for all my US colleagues and friends, have a great Memorial Day weekend!

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