Last month Sarah Odedina commenced her new role as Managing Director of a start-up children’s publishing venture, Hot Key Books.

Sarah was formerly Bloomsbury's group editor-in-chief of children's fiction, where she oversaw publication of the entire Harry Potter series and has published three Carnegie Medal winning authors

Hot Key Books is an addition to the Bonnier Publishing division, and will focus on children’s fiction books for ages 9+. It plans to publish between 30-50 titles a year, starting from autumn 2012.

The company name derives from the power of stories to open doors and feed the imagination of readers. Hot Key Books seeks to unlock the power of reading, a love of books and a joy of stories . It also reflects the digital age in which we now live through its association with 'hot key' commands - the short cut command on a keyboard.

We spoke to Sarah about the the joys of running her own company, her greatest hopes and fears for her new venture and the impact of technology on the publishing world.

TNW: What was it about the idea of Hot Key Books that tempted you away from your position as Bloomsbury’s Group Editor-in-Chief of Children's Fiction?

SO: It is a once in a life-time opportunity to be asked by a big and well respected publisher like Bonnier to start a children's list. The opportunity to start something brand new with the backing of a company that knows the industry as well as Bonnier was immediately appealing as they know the challenges of the business and also appreciate the wonderful opportunities and pleasure in publishing fiction.  I was also very tempted by the opportunity to be part of a small team that could respond innovatively to the market and to the changes that we are experiencing as an industry.

I very much enjoy working with authors as well as the more 'business' side of the publishing business and a start-up offers me the opportunity to do both.

TNW: After working for Bloomsbury for fourteen years, which aspects of running your own business are you particularly enjoying?

SO: I am loving being able to be involved in every part of the process of starting a business from working with the builders who are fitting out our office, to planning the budget for the first two years, hiring staff and acquiring books. It is a pleasure to be part of all the various elements of the business and to know exactly what is going on in all those areas. It is also very exciting to be able to strategise on how we can build a list and work with authors to create something new and dynamic and innovative which will grow in to a major player in the children's publishing world. I am also really enjoying working with new colleagues and strategising and planning ways to launch the list next year.

The excitement and energy created around the launch of a new venture and building on everyone’s vision for what that can be is a very special thing to be part of.

TNW: What has been your biggest challenge with setting up Hot Key Books, from planning to funding and execution, and how could others learn from it?

SO: The biggest challenge we have to face as a new publishing house is making sure that we are acquiring rights in the best books possible. It is the authors that we add to the list now that we will still be publishing in 10 years from now that represent our real fortune. The best publishing houses are those in which the relationships with the authors are nurtured and treasured and that has to be the bedrock of Hot Key Books. Of course it is a challenge to balance all the financial matters and make sure that we move as quickly as possible in to a profitable position but this is only going to happen thanks to the authors that we publish. Finding those authors and working with them to get their stories into the hands of readers is the real focus of our business. 

TNW: What is your greatest wish for Hot Key Books – and your greatest fear?

My greatest wish is that we build a strong list of titles from authors who feel that we are serving them well in the way that we publish their books. I hope that we will have best-sellers and prize winners and books that sell well internationally both in the English language and to foreign publishers. My greatest fear is that the book trade will continue to be hit by the recession and that the larger booksellers will find less space in their selection for new voices and the more author driven novels - the kind of books that I very much hope will form the backbone of our list.

TNW: As you recruit your new team, what are the key qualities you have been looking for to ensure the success of your business?

I am looking for energy and drive and enthusiasm. It is a very difficult time in book publishing at the moment and it is easy for people in our industry to become jaded and perhaps even despondent.

I am attracted to people who recognise the difficulties but still feel positive and able to make something special in what we do. I also really like a sense of humour! It helps hugely. Experience of course counts for a lot but in the end an experienced person who is a bit bored with everything is not the kind of person I would like to work with.  

TNW: It is clear from the name Hot Key Books that you embrace the digital format. How do you see technology changing and improving life for today’s generation of young readers? In what format do you imagine they might be reading in 20 or 50 years?

SO: Technology is in a constant state of change. There is never a time when it is all fixed and settled. At the moment the issues related to these changes in our business are to do with pricing and delivery. Once this has been resolved digital formats versus print formats will simply be a matter of choice about delivering a story. People will read digital and print editions for different reasons. Digital books are light and easy to transport and store. Print books are wonderful for presents and keeping and treasuring. A reader can and will read one format on one occasion and the other for a different reason. They are interchangeable for many people and choice is always a great thing.

20 or 50 years from now who knows! 50 years ago who would have imagined the internet? I am just sure that people will still be enjoying stories in whatever formats are available.

TNW: Which books unlocked the power of reading for you as a child?

SO: I loved action and adventure. I loved fairy tales. Rumplestiltskin was a particular favourite when I was very young. Robinson Crusoe and all and anything by Enid Blyton as I got older. I don't really remember reading books specifically for young adults as I don't think when I was a teenager this genre existed as it does today so I sort of hopped via I Captured The Castle straight to D H Lawrence.   Readers today have the most wonderful range of authors to choose from and from whom they can always find something that fits the mood, or the need.

TNW: How do you balance good commercial decisions with good artistic decisions?

SO: One does not necessarily contradict the other. I have been lucky to publish some very literary and 'artistic' books that have been huge best-sellers, like Holes by Louis Sachar or A Gathering Light by Jennifer Donnelley. I think that a well written and brilliantly crafted book also tends to have a much longer life than a formulaic apparently more commercial book as the second may well not backlist and the first always will. The balance comes from knowing what you like and having faith that other people will like it too.

TNW: Do you have any role models or mentors?  

SO: My first job in children's publishing was given to me by the wonderful Publisher Judith Elliot. She hired me as the Rights director for Orchard Books when I had no experience at all of selling children's books. She trusted that I could do it and made it possible for me to make the move in to a part of the industry I have felt completely at home in and which I find satisfying, stimulating and exciting.

Then I worked with Liz Calder at Bloomsbury. She was the publisher of the adult list and published amazing authors like Margaret Atwood and Jeffrey Eugenides. I moved to Bloomsbury to be the Editorial Director in charge of the children's list from my Rights selling job at Orchard and Liz Calder taught me that the most important contributor to our business is the author and that the best publishers publish authors and not books.