In this episode, Lisa Teh and Nick Bell, entrepreneurs and co-hosts of Lisnic, interviewed Booktopia’s Co-Founder and CEO Tony Nash. During the interview, Nash shared about Booktopia going public during a global pandemic, his secrets to Amazon-proofing his business, and how he manages a working relationship with his family.
In 2016, Booktopia failed to raise funds through an IPO because investors were spooked by the imminent arrival of Amazon in Australia.
Fast forward to 2020, Booktopia’s sales have increased from $80 to $200 million, and was one of the helped to grow a trend in selling books online during the COVID-19 pandemic. According to Nash, the pandemic has helped to move e-commerce into the spotlight, and Booktopia can now prove that they’re “amazon proof, pandemic proof and recession-proof”. About $8 million of the funds raised will be used to invest in automation and double its distribution capacity to 60,000 units per day.
Nash also shared that one of the reasons behind Booktopia’s success was having a clear horizon point on where they want to be.
“In order to succeed in business, focus on the cash. Money needs to come in the door. You’ve got an idea but you don’t have a business until the money is coming through and people are handing over their cash. Doing whatever to ensure that you actually have a real business.”
To learn more about the secrets behind Booktopia’s amazing success, watch the full video from Lisnic below:
About Tony Nash
Booktopia’s Co-Founder and CEO Tony Nash were born with an entrepreneurial mindset. After initially failing at university, Nash teamed up with his siblings to launch Australia’s largest online book retailer. Starting Booktopia with a humble budget of $10 a day, the family-owned business is now valued at $113 million, with 200 employees and over 150,000 items in stock. Presently, Booktopia sells a book every 10 seconds and has more than 1.8 million repeat customers!
Started by entrepreneurs Lisa Teh and Nick Bell, Lisnic is a game-changing tech platform that helps Mentees from all around the world connect with top-rated Business, Mind, and Celebrity Mentors. All sessions will be conducted via Lisnic’s inbuilt video conference system, and Mentors will be rated and reviewed, meaning only the best of the best will be on the platform. Ready to change the way you earn and learn? Visit lisnic.com!