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Helping to Change the World…Word by Word

The Steve Laube Agency

The Steve Laube Agency

Helping to Change the World Word by Word

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Home » Writing Craft » Book Business » Page 13

Book Business

A Major Money Mistake

By Tamela Hancock Murrayon January 16, 2014
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Piggy Bank with Bandage on Face on Dramatic Gradated Background.

When I was working for a small company years ago, the extremely reliable woman who cut our paychecks missed the Big Day — a Friday. As it became evident she would be a no-show, one of my co-workers revealed she was upset. “I wrote out and mailed checks for all my bills last night because I thought I was going to get paid today. Now they’ll all bounce.”

I didn’t understand why anyone would write a check for money that wasn’t in the bank and I still don’t today. Yet over the years, I’ve discovered that many writers make similar mistakes.

Publishing contracts list payouts and give a timeline as to when they are to occur. However, things go wrong. Often. With just about every publisher. Sometimes the editor forgets to tell Accounting to release the funds. Sometimes the person who cuts the checks is out sick. Or maybe the Big Boss who authorizes checks of a certain size has left for a month-long missions trip. Or a publisher has a cash flow problem and can’t make your payment.

I’m not saying it’s wonderful and right for funds to be delayed but there are so many things that can go wrong in the process that it’s wise to plan on a late payment. The biggest money mistake a writer can make is to sit down with a contract and say, “Okay, I’ll be receiving $5,000 on July 1 because that’s what my contract says.”

When this happens and there is a delay, sometimes I get frantic communication from authors. Of course, authors are always justified in asking about delayed payments and my job is to investigate. But sometimes I discover the urgency is triggered by a purchase or other financial commitment the author has made based on promised money, not money that is already in the bank. Of course, emergencies happen that can cause debt, but I don’t recommend buying a luxury item until the money is in hand.

Your turn:

What is your favorite way to save money?

What is the worst money management mistake you or a friend have made?

Leave a Comment
Category: Book Business, Career, Money, TamelaTag: Book Business, Money

Embracing Change

By Dan Balowon January 14, 2014
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On September 3, 1967 the world changed. It was a day remembered for chaos and disillusionment, despair and confusion.  No, it wasn’t because the last episode of “What’s My Line?” aired on U.S. television.

The above picture is what happened in Sweden the day the country switched from driving on the left to the right side of the road.  Their neighbors, Norway and Finland had already changed, but …

Read moreEmbracing Change
Category: Book Business, Dan, E-Books, Get Published, The Publishing Life

Two Basic Tips on Budgeting with an Irregular Income

By Tamela Hancock Murrayon January 9, 2014
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One challenge of writing books for a living is the fact that unlike many other jobs, you don't usually see a cycle of paychecks appearing at regular intervals with predictable amounts. Instead, you may see a whoosh of money, followed by smaller amounts every few months triggered by actions on your part, such as turning in manuscripts and proposals. Only well-established authors will have this …

Read moreTwo Basic Tips on Budgeting with an Irregular Income
Category: Book Business, Career, Money, TamelaTag: Book Business, Budget; Finances; income, Money

Exceptions are Exceptions Because they are Exceptions

By Dan Balowon January 7, 2014
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You can self-publish a book, sell 10,000 copies in the first week, 50,000 in the second week and be a millionaire in three months.

You can write a book and mail it to a publisher, they publish it without meeting you and you become a wealthy household name.

An antiques dealer can knock on your door and offer you $250,000 for your end table that you bought last summer at a garage sale for …

Read moreExceptions are Exceptions Because they are Exceptions
Category: Book Business, Dan, Get Published, The Publishing LifeTag: Book Business, publishing, Success

Steve Laube Buys Marcher Lord Press

By Steve Laubeon January 6, 2014
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Below the following announcement is a question and answer session with Steve Laube.
 (January 1, 2014 - Phoenix, AZ) Steve Laube, president of The Steve Laube Agency, has agreed to purchase Marcher Lord Press, the premier publisher of Science Fiction and Fantasy for the Christian market. The sale was finalized on January 1, 2014.
Laube has long been a champion of the genre, going back to his …

Read moreSteve Laube Buys Marcher Lord Press
Category: Book Business, Get Published, Personal, Steve, The Publishing Life, TrendsTag: Marcher Lord Press, publishing

The Quiet Zone

By Tamela Hancock Murrayon December 26, 2013
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I've noticed, not only this year, but in past years, that opinions from publishing professionals regarding the month of December vary.

Some say nothing gets done in December. Others say a little bit gets done in December. A rare few say a lot of work gets done.

Everyone is telling the truth. Why? Because publishing is filled with so many manuscripts in varying parts of the evaluation or …

Read moreThe Quiet Zone
Category: Book Business, Communication, Tamela, The Publishing LifeTag: Communication, The Publishing Life

Why Not Take a Chance?

By Tamela Hancock Murrayon November 7, 2013
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Often I receive queries and proposals in which the author will say his submission is out of the box. I'm not opposed to groundbreaking work, but I have to decide what will and what won't work for me. I am the first to admit, this process is subjective. Our own Steve Laube is routinely teased by a couple of his successful author friends he turned down. If an agent as wise as Steve Laube misses a …

Read moreWhy Not Take a Chance?
Category: Agents, Book Business, Book Proposals, Get Published, Platform, TamelaTag: Agents, book proposals, Editors, Get Published

Elect to be Successful

By Dan Balowon November 5, 2013
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Today is the first Tuesday in November…election day somewhere.

Have you ever wondered why so many people in politics never seem to actually solve problems and do what is right?  The explanation is actually rather simple:

Many politicians exhibit those traits that are characteristic of unsuccessful people.

In what world of relationships, work, church, community or business would a person …

Read moreElect to be Successful
Category: Book Business, Career, DanTag: Career, Success

You Are Essential

By Tamela Hancock Murrayon October 17, 2013
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On Sunday our pastor's sermon was on 1 Corinthians 12:12-27. Although in this passage, St. Paul writes about how each person is a special part of the body of Christ, with a comparison to how all the parts of the human body work together, I couldn't help but think of how essential we all are to the publishing process:

Writers: Without authors' creativity and courage, no one would have a book to …

Read moreYou Are Essential
Category: Book Business, Career, Editing, Get Published, Tamela, The Publishing Life, Writing CraftTag: Book Business, publishing

Are You Ready to be a Pro?

By Tamela Hancock Murrayon October 10, 2013
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What if you developed a great hobby you really loved? Say, baking cakes. You bake a creative cake for your child's birthday party, and everyone oohs and ahhs. Then you bake another fabulous cake for your husband's birthday. More oohing and ahhing. And so on. Until a party guest says, "Hey, you could make real money doing this. I'll be your first customer."

You agree. You bake the cake and buy a …

Read moreAre You Ready to be a Pro?
Category: Book Business, Career, Tamela, Writing CraftTag: Book Business, Career
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