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1. Revenue Growth

1.1. Revenue growth is key, not only to achieving our primary goal but also to mitigate against some major threats. It will allow us to withstand fluctuations within lists better, and will help drive better prices with suppliers.

1.1.1. We will ensure that we are always pitching to at least £1m of potential turnover at any given time Revenue Growth

1.1.2. We will review all publisher contracts and schedule renewal deadlines for each expiring contract. We will begin discussions 6 months prior to expiry and aim to have contracts agreed by 2 months prior to expiry. Q12020 Client Retention Revenue protection Revenue Growth We do not have any contracts which have less than 3 months to go.

2. Customer Focus

2.1. A stronger customer focus is required. Creating loyalty amongst customers will address issues such as uncertainty in the market, understanding and keeping ahead of their requirements, and using them to drive operational improvements. Strong customer loyalty will protect our current revenue but ultimately lead to revenue growth through positive feedback to the market. Our aim is to make it easy to do business with us and we must build this capability.

2.1.1. We will build and maintain and accurate and relevant database of customers which we will use for transactional and relationship purposes. We will communicate with our customers more often and they will want to hear from us. Q42019 To be the leading distributor Assure against uncertainty Create loyalty Positive messages Every account has an email address. Customers sent service messages regularly, Customers receive transactional messages. Build database Service and promotional messages Transactional messages Order confirm Pending Backorder release Dispatch Invoice/credit Statement Backorder report

2.1.2. We will strike up and maintain excellent relationships with book buyers, particularly the key ones. The aim is to establish a common understanding of the way we work with a view to making business easy. Q42020 To be the leading distributor Create loyalty Positive messages Automation qualifier Competitive advantage Key contact established at customer, smoother workflow, Schedule of review meetings. Lomond Bookspeed Gardners Bertrams Amazon Waterstones WH Smith

3. People Focus

3.1. A stronger HR focus is required. There is evidence that labour (warehouse level) is becoming scarce and inevitably this will push up prices. We must retain our staff to ensure continuity of knowledge and skills. We must also address the risk of over reliance on key individuals.

3.1.1. We will be paying the Living Wage as a minimum by the end of 2023 Employee retention Employee buy-in Enhanced reputation Shareholder funding Salaries increase

3.1.2. We will conduct a skills gap project and devise a training place. A culture of training will be adopted and a budget will be made available. Where appropriate we will introduce a banded salary scale to incentivise performance Q22020 Employee retention Employee buy-in Enhanced reputation Reliance on key staff Succession planning Cost reduction Each person has a bespoke training plan, all employees have similar skills, redundancy, fewer errors HR and H&S system Evaluation Selection Configuration Implementation Review Appraisals and skills gaps Evaluation of banded salary scheme Training

3.1.3. We will find and fund a suitable training course (Project Management) for at least one key person which will help with smooth and timely on boarding of new clients. We will also train an individual to lead change within the business. Q32019 Cost reduction Enhanced reputation On-boarding competence Employee buy-in Two people designated as PMs with suitable qualifications Trainer identified Desired outcomes specified Plan agreed and dates locked in Training delivered Evaluate and review

4. Knowledge Focus

4.1. We must understand our operational capacity. A real understanding of what we have, what we have in it, and what we should have is key to revenue growth. It will assist with a stronger client focus, better operational improvements and targeting the “right” kind of publishers. It will also assist in lower operating costs

4.1.1. We will revisit and revise our internal metrics for measuring the financial performance of the lists we carry. We will do this in the context of defining our peak operating capacity and further defining which publishers work for us. The aim is to produce a profile of the ideal BookSource publisher and clear implications of variations for this profile, and inform the contract renewal process. Q22020 Capacity knowledge Targeting prospects Revenue growth Revenue protection Low profit clients Everyone aware of the key metrics. Metrics used as a matter of course, JC has a formula to work to.

4.1.2. We will revisit our operational performance metrics to ensure they adequately reflect our activities in the warehouse and we will use them to further push operating targets where possible. We will conduct an exercise to define which metrics our clients and customers find most relevant Q32020 Enhanced reputation. Client retention Customer loyalty Operational efficiency Cost savings KPI dashboard, Publishing key metrics, staff look forward to them. Management dashboard POC Warehouse dashboard Goods In Returns Goods Out Pick rate Packing activity

5. Green Focus

5.1. We must adopt a Green agenda. Risk of further government taxation and being regarded by the market as “dirty” would have a clear negative impact on the business. However, proactively adopting a green agenda would have definite positive outcomes, for all of our stakeholders.

5.1.1. We will be carbon neutral by the end of 2023 Enhanced reputation Green taxes risk Client retention Customer loyalty Shareholder funding Net Zero carbon

6. Client Focus

6.1. A stronger client focus is required. This largely came out of the competitive environment analysis and where we considered ourselves weak. Stronger relationships with our clients, being vital to them, will deter them from leaving us, will help us understand and meet their requirements, and will enhance our reputation in the marketplace, leading to revenue growth.

6.1.1. We will create a rigid “account visit” structure whereby every client is contacted regularly and we will continue our work on a better contract. Q32020 Client retention Enhanced reputation Competitive advantage Revenue protection Clearly defined service standards for each client list. Each client contacted formally according to published schedule, new contract.

6.1.2. We will work with larger clients in developing their own systems. We will look at ways to transfer/present relevant and timely information. Q22021 Client retention Enhanced reputation Automation Being vital Top 5 clients rely heavily of daily data feeds

7. Systems Focus

7.1. A stronger systems focus is required. This is apparent through all of the analysis. Being stronger on systems will allow us to build the capability to enhance sales, provide for better customer and client focus, provide the infrastructure for operational improvements and capitalising on the systems resources we already have. It will also mitigate against the “Amazonification” of transactions threat. Our systems capability was specifically highlighted in our competitor analysis.

7.1.1. We will appoint a Systems Manager to drive forward a number of systems related strategic projects. Q12020 Various In post

7.1.2. We will conduct a fit for purpose review of our peripheral systems and begin to utilise extra functionality like automated email acknowledgements. Q42020 Automation qualifier Increase internet usage Keeping pace Enhanced reputation Better data, transactional emails, automated workflows

7.1.3. We will conduct a review of our core system and procedures, the aim of which is to provide for quicker or more accurate processes throughout the business Q22020 Automation qualifier Reliance on key staff Keeping pace Customer loyalty Client retention Enhanced reputation Cost reduction Less manual thinking, more deployable staff, systems fit publisher requirements, fewer errors

7.1.4. We will build and promote order interfaces for all publisher websites and for small independent retailers. Q42021 Automation qualifier Customer loyalty Leading distributor Client integration 100% of publisher web site orders entered electronically. 25% of customer orders submitted electronically.

8. Operations Focus

8.1. Automation and “new shiny things” are important. Our operations must see continual improvement in order to bring the efficiencies which will be demanded. Same day turnaround is fast becoming the norm and will become and “order winner”.

8.1.1. We will work towards a standard next day service Q22021 To be the leading distributor Create loyalty Positive messages Market expectation Competitive advantage 100% of in scope orders dispatched within 1 day.

8.1.2. We will review and renew our process for handling B2C orders, recognising that these are increasingly a large part of our operation. We will conduct a review in the context of investing in automation, bringing all possible option to the fore Q32020 To be the leading distributor Strengthen niche segments Automation qualifier Cost reduction Competitive advantage