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Variety is the Spice of Life. Differing Models of Collaborative Entrepreneurship at the UNCG Libraries. Different, but the same. Should make fiscal sense. Should align with our mission and goals. Has to be good for primary clientele – the students and faculty of UNCG. - PowerPoint PPT Presentation
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Variety is the Spice of LifeDiffering Models of Collaborative
Entrepreneurship at the UNCG Libraries
Different, but the sameShould make fiscal sense. Should align with our mission and goals.
Has to be good for primary clientele – the students and faculty of UNCG.
As a state-supported school, we would like initiatives to provide benefits state-wide.
As a public academic library, we would like initiatives to provide benefits to other libraries.
Journal Finder- The Accidental Entrepreneurial Model
Creating Journal FinderAt the time of its creation and early
development, there was no entrepreneurial intent
The product was so good, that lots of libraries wanted it.
We decided to become a service provider for other libraries.
“It isn’t right to charge”
Money QuestionsShould we charge at all? Or should it be
Open Source?What is our overall fiscal strategy? Are we
going to use this as a cash cow? Or are we viewing this as a community service?
How should we structure the fees? FTE? Number of titles?
What services should we provide?Should we go national or stay local?Should we try to sell it to a company?
The Balance Sheet“Why in the world would you run a service that
just breaks even? You should pay someone else to do it.”
Changing numbers- The equation during development- The early stage of the service- The mature stage of the service- The sale
Indirect BenefitsSaved an estimated $150,000 that UNCG would have
had to pay for a link resolver (based on a Serials Solutions quote for comparable functionality)
Estimated cost avoidance for NC schools of $525,000 (all that money would have gone out of state)
Estimated UNC System savings of over $240,000There is also a certain amount of value to
The ability of UNCG faculty and students to use to a resolver two or three years before most other schools
UNCG’s name and logo displayed for years at 42 schools with 200,000+ students
Raising profile of UNCG nationally through presentations, consulting, articles, etc
Was it worth it?We were able tobe the first in the country provide our
students and faculty with a research tool available nowhere else
offer a cut-rate, high quality service to historically underfunded schools
offer a cutting-edge research tool to UNCG patrons and come out over $400,000 ahead over 5 years, while other institutions are coming out about $200,000 behind to offer a comparable product over the same 5 year period
Journal Finder – Accidental Entrepreneurship1. Makes fiscal sense2. Aligns with library mission and goals
ROI (Money) – HighROI (Usage) – High
The Carolina Consortium – The Sam’s Club Entrepreneurial Model
BackgroundMajor cancellations at UNCG lead us to
implement wide-scale PPVPPV was more cost effective than
subscriptions, but use was clustered in a few publishers
It was cheaper to join Big Deals for Wiley, Blackwell, and Springer but we weren’t eligible to join any consortiums with access to those deals
Other schools had expressed interest, so we decided to see if we could achieve critical mass to form a group
The Carolina ConsortiumFounded in 2005 with 39 academic libraries
participating in up to 3 deals, with a total cost avoidance of about $70 million
NC and SC partnershipNo committees, officers, or staffA Virtual Consortium
Measuring the value of the groupUsageNumber of available titlesCost per useCost per titleCost avoidanceEconomic impactActual savingsROI
Small – Meredith CollegeEnrollment of 2400In 2004, had 3 Wiley and 11 Springer
subscriptions with a list price of approximately $9950
By participating in the Carolina Consortium Wiley and Springer deals, they gained access to an additional 1447 journals
Meredith was able to increase its Wiley and Springer holdings 1000% and was only required to pay about 2% more
Medium – UNCGIn 2004, we paid $65,886.32 for PPV articles.
After the Big Deals, that expenditure was reduced by 75%, generating a $48,000 savings.
Dropped $10,000/yr Springer Solinet dealBenefited from inflation capsSignificant actual savings (around
$65,000/year), not just cost avoidancePaying less, and getting more
Large – Clemson and USCGained many new titlesJoined the Carolina Consortium so that they
could share their titles state-wide
Carolina Consortium - Trends
3 163839
72
11783
270
534
0
100
200
300
400
500
600
2005
OffersSchools
Deals
The Carolina Consortium today130 colleges, universities, and community
colleges72 offers generate 879 dealsAnnual aggregate cost avoidance of $230
million
Carolina Consortium– Sam’s Club Entrepreneurship1. Makes fiscal sense2. Aligns with library mission and goals
ROI (Money) – HighROI (Usage) – High
NC DOCKS – The “Risk Management” Entrepreneurial Model
A Shared NeedMultiple UNC-system schools were highly
interested in establishing IR’sOne was poised to pay a commercial vendor
over $20,000 one-time, plus $10,000/yr for an IR product
A Shared SolutionUNCG offered to build and host an IR for
UNCG, UNCP, ECU, ASU, and UNCW for $3500/yr per school
Schools would commit to 3 yearsThe group would collectively decide on
features and needsInitial design is fairly low-cost, with the
option of adding features if usage warrants
The MoneyFor approximately the same cost that one school was
about to pay an out-of-state company, we are able to provide a highly customized IR for 5 schools
All payments are a balance transfer within the UNC system, so all funds stay within UNC’s coffers
It seems unlikely that any school could host and run their own IR (even an Open Source product) for as little as they are paying us
The amount of staff time that UNCG is committing to building and hosting NC DOCKS is more or less equal to our income from the project, so it is cost neutral
Was it worth it?In terms of usage, it is too early to sayDefinitely cheaper for the five of us to share
costs than for us each to support a separate IR
NC DOCKS – “Risk Management” Entrepreneurship1. Makes fiscal sense2. Aligns with library mission and goals
ROI (Money) – OKROI (Usage) – too early to say
Conclusion
Embrace entrepreneurship. It can be an effective vehicle for promoting and extending library values, collections, and services.
http://journalfinder.wtcox.comhttp://library.uncg.edu/carolinaconsortiumhttp://libres.uncg.edu/ir