Seize the Opportunity
Ready —Harry Sherman was an advertising executive with a keen eye for consumer trends. Recognizing the growing middle-class appetite for literature in the early years of the 20th Century, he saw an opportunity to create a mail order service to deliver books to readers.
Set —Sherman understood that convenience and expert curation could drive book sales in an era before mass-market bookstores were widely accessible. His innovation was the Book-of-the-Month Club. From an initial 4,000 subscribers in 1926, the club grew to include 550,000 subscribers by 1946. By seizing the opportunity, Sherman . . .
Innovated a new way to sell books: He birthed the “Subscription Model” where books were shipped to subscribers each month, ensuring a steady revenue stream.
Eliminated the drudgery: He did all the work for subscribers from vetting new releases to packaging to shipping books right to the consumer’s door.
Positioned selections as must-reads: He used a team of literary judges to select the best current and emerging authors, which became required reading for thousands.
Democratized book ownership: He made contemporary literature accessible to a broader audience other than to the wealthy elite.
Shaped reading habits: He influenced which books became bestsellers. Publishers saw increased sales and authors gained wider readership through club endorsements.
Grow! — By 2024, the Book-of-the-Month Club had an estimated revenue of $50 million, inspiring countless other subscription services across multiple industries. His impact went beyond shaping how books were bought, sold, and read in America. His legacy demonstrates what can happen when one sees an opportunity and acts on it!
Two Questions
What opportunities do you see in your field of work?
How can you seize the opportunity today to meet one of them?