Ask Peter Olson what book he would like to have published, and the Random House chief executive immediately cites The Purpose Driven Life.
But Random House hasn’t needed Rick Warren’s (hostage-approved) bestseller to make profits. The Financial Times breaks down what sets Random House apart: a business model borrowed from the company’s German parent, the specialization afforded by its imprints, and “getting the balance right” between “[finding] high-quality new authors while controlling advances for big-name titles.”