Booksie is a free online writing service that offers tools for writers to publish their work and connect with readers from across the world. Pulse 2.0 interviewed Booksie founder Sol Nasisi to learn more about the company.
Sol Nasisi’s Background
What is Sol Nasisi’s background? Nasisi said:
“I grew up in a suburb of Boston in a small neighborhood with two friends living next door. We spent most of our time building things – forts, games, rockets, gizmos and gadgets. In high school, I formed a band and we spent hours writing and rehearsing our songs. We played a few gigs where we opened for some well-known local Boston bands. I think all of this provided me with a taste of creating something new and the exhilaration that comes from seeing it come to life.”
“In business school I started playing around with this thing called the Internet. It was early days and I was captivated. I started my first Internet company with a classmate selling posters and prints. Since then, I’ve started two more online companies, worked in the digital space for a Fortune 500 company, start-ups, and a higher education institution. I started Booksie eighteen years ago as a community of writers and readers and have bootstrapped it into an increasingly robust and large platform.”
Formation Of Booksie
How did the idea for the company come together? Nasisi shared:
“I always loved to write but it was difficult getting feedback. You can only ask your parents, girlfriend, or friends to read your writing so many times. So when the Internet appeared and people with the same interests began congregating, I saw an opportunity to develop a place where writers could get that feedback. I also saw it as a place where writers could get read. It didn’t seem fair to me that only a tiny sliver could get their books published. Now, some of the stories on Booksie have more readership than the majority of published books.”
Favorite Memory
What has been your favorite memory with the company so far? Nasisi reflected:
“I’ve had many instances of writers meeting on the site, developing a relationship and then getting married. We’re not a dating site but it’s a testament to the community that deep relationships can form. They say it’s always the people, and by and large, I’ve really enjoyed meeting so many talented writers from around the world.”
Core Products
What are the company’s core products and features? Nasisi explained:
“Our mission is to help writers tell their stories. We try to deliver on this mission based on what we call the 5-ps.”
“We help writers perfect their writing, publish it, promote it, protect it, and profit from it. Spoke of the features that we use do this include AI tools to provide feedback, an online publishing engine optimized for long-format content (books, short stories, etc.), the ability to promote the work via social or use Booksie to promote books published on Amazon, the ability to postmark work so that a writer has irrevocable proof that they created the book, and hooks into PayPal and blockchain publishing to allow writers to profit.”
Challenges Faced
What challenges have Nasisi and the team faced in building the company? Nasisi acknowledged:
“The biggest challenge is keeping current with the latest technology. Since we’re a technology-based platform, it underpins everything we do. It takes a lot of time to understand what’s new, separate the hype from the reality, determine what we should invest in and what we should pass on. Luckily, I really enjoy learning about what’s new. It’s why I started a technology-based company. Whether it’s AI or blockchain or kubernetes, I carve out the time to go to conferences, listen to podcasts, attend meet-ups. It takes time but it’s worth it. Staying heads down doesn’t work in the long run.”
Evolution Of Booksie’s Technology
How has the company’s technology evolved since launching? Nasisi noted:
“We’ve definitely evolved as the site has grown and as technology has developed. Over time, we’ve added more javascript frameworks. Our Limited Edition module is written entirely in React. We’ve also leaned pretty heavily into kubernetes to help us manage our servers and applications. We’re always looking for ways to optimize our code and upgrade it without doing a wholesale overhaul. We’re more about evolving and modernizing.”
Significant Milestones
What have been some of the company’s most significant milestones? Nasisi cited:
“We signed up our 250,000th member in 2012 and had over 1 million poems, books, short stories, and more posted last year. This year, we added our first AI tool to help writers and also incorporated new technology to help writers earn revenue from their work – if they want to. We keep growing, evolving, helping writers tell their stories.”
Customer Success Stories
After asking Nasisi about customer success stories, Nasisi highlighted:
“We have one member, Lydia Kelly who posted her work on Booksie and it was a huge success. Hundreds of thousands of reads in the first couple of months. She received a publishing contract and her book became a best-seller on Amazon. It’s called Screaming in the Silence.
I have another member who has Cerebral Palsy and literally writes stories with his head. He’s a real inspiration.”
“I consider all of our writers success stories. Many of them are writers who never thought they would have an audience and all of the sudden someone is reading their writing and commenting on it. It’s really a game changer for them. I get messages all of the time from writers saying how appreciative they are to have a place where their writing can be seen.”
Funding
When asking Nasisi about the company’s funding details, he revealed:
“We’re a private, bootstrapped company that has been growing revenue at 40% or so over the past few years. We have a pretty clear vision of where we want to go and don’t really want to be constrained or distracted by outside investors at this point. Maybe in the future.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Nasisi assessed:
“That’s a tough one. I looked forever for stats on writers and it’s hard to find. The best I could come up with is that according to the National Endowment for the Arts there are around 11 million creative writers in the United States. I figure globally, there are at least 30 million. So we have a lot of potential growth opportunities.”
Differentiation From The Competition
What differentiates the company from its competition? Nasisi affirmed:
“With a few clicks, we provide writers with the ability to publish their work, get feedback on their writing from humans to AI, promote their work, build an audience and following, and soon earn money via a blockchain platform. For readers, we provide an intimate way to discover new writers, become a fan, interact, and support your favorite work and authors. It’s a comprehensive site made to benefit writers and readers and we don’t think anyone has a platform that comes close.
And we’re going to keep adding functionality based on what our users tell us but also based on where we think the industry is going.”
Future Company Goals
What are some of the company’s future company goals? Nasisi pointed out:
“Our most immediate short term goal is to modernize the look of some of the pages on the site. We’ve been so busy creating new functionality lately and we now need to update the UI and design of the site to reflect that. So, in the next few months we’ll have an updated look, Not radically different because we never do a total overhaul. It’s more of an evolution that stays true to our brand and heritage.”
“We also want to continue rolling out AI tools to help writers. Our goal with AI isn’t to replace the writer but instead to help them. As an example, one tool we’re rolling out soon will allow writers to generate book outlines from the first one or two chapters of their manuscript. Outlining and developing a plot is something many authors struggle with and based on our tests we know AI can help.”
Additional Thoughts
Any other topics you would like to discuss? Nasisi concluded:
“I would just say that starting and writing a book have some similarities – the biggest one being they are both really difficult. But I would tell both the writer and entrepreneur that to succeed they must pursue something which they believe in and feel some passion for. There will be times when the money won’t be there and you need some higher motivation to keep you going. If it’s just the money, then when the money is tight, you’ll fold.”
“For Booksie, I was always interested in helping people across the world tell their stories. This is my north star and what motivates me to keep going. I think the world is a better place for it and it keeps me motivated. The same is true for writing a book. Find something that you need to say. Maybe the money will follow but regardless, the world will still be a better place for it. Find your north star, whatever it may be, and apply it to the business or book you want to start. Then, you’ll create something fantastic and the money will follow.”
