#1: ONLINE ROYALTY ACCOUNTS FOR AUTHORS
(Note: This seems like an obvious next step for the book industry, although publishers hit the roof when Iíve shown it to them, as youíll see. — Pat)
If you were an author, wouldnít it be great if your publisher gave you a password to your own royalty account?
This would be an online, frequently updated, always accessible, entirely confidential page on your publisherís website that would replace the current system.
As frequently as you wish, you could check sales of your book, the rate of returns, the percentage taken out for reserves and varying royalty rates for bulk sales, special sales, premium sales, electronic sales, and so forth.
As it is now, most authors have to wait six months for a printed, snail-mailed royalty statement thatís filled with outdated information thatís mired in financial gobbledygook their own agents canít decipher. Continue reading