I always want to have my own publishing company someday in the future. A small-scale, independent children’s book publisher will do. Hopefully based in Vancouver. My plan is to publish children’ picture books in Chinese and sell them to Chinese parents living in Canada.
When I dream about this publisher, I found a lot of obstacles that would drag me back into reality. I asked myself: How many Chinese immigrants have young children at home in Canada? What are their book-purchasing habits? Will they buy books in English or Chinese for their kids? Will they order books online and have the books shipped directly from China?
I know nothing about them. How am I supposed to sell books to them without knowing them? Now, imagine if I had access to any data in the world, that will be great!
First, I want to learn about the population of Chinese communities in Canada. I want to find out how many Chinese parents are there in Canada and how many of them have child(ren) 3-10 years old. In addition, I also want to find out where they are mostly living. Are there more of them in Vancouver or Toronto? Which city do they prefer to live in? I would like to use this information because I want to know if I should start the publisher in Vancouver or Toronto or maybe other cities in Canada.
Second, I would like to explore their economic status. What kind of jobs are they doing? Do they have enough savings to support the education of their children? Will they be willing to spend money on children’s books or just borrow them from local libraries? For example, a survey among English readers has found that half of the picture book “purchases” made by the parents were either second-hand (34%) or came from the library (11%). Will the trend be similar within the Chinese community?
Third, I would like to learn about their psychographics. What do the parents want their children to learn from books? What kind of children’s books do they want to buy for their kid? Are they aware of how important reading is for young children? Do they care if the kids read in English or Chinese? This will help me to find the gap in the market.
To get the information without violating anyone’s privacy, I agree with my cohort member Moorea that “a layer of anonymity is needed”. I would only collect the data from anonymous parents who are willing to enter our database. I would not force anyone to join our survey or secretly collect their preferences, neither will I be aware of their personal information such as name, date of birth, home address or private contact information.
Data is important to any business. For me, I want to use the information to decide if I am going to have this publisher. If the data shows that only few parents is interested in encouraging kids to read in Chinese, then I might not start this publisher or I might adopt another strategy.
Data will help me to position myself. Do I want to publish for younger kids (3-5 years old) or do I want to publish for older kids or even teenagers? Data will tell. Data will also help me to get my first capitals. It is the evidence to support my business plan and convince any potential investors or to successfully receive grants.
Yes…I can think of millions of benefits to my (future) business if I can get access to any data in the world. However, I am also aware that part of the privacy will be sacrificed in exchange for the benefits. If I collect and analyze the data to satisfy readers/customers’ needs (and make just enough money for me to support myself), will the end justify the means?