Take the Money and Run
Book world executive/consultant Lynne W. Scanlon recently started up a blog called The Publishing Contrarian, and she’s certainly living up to her title in her recent advice to authors: “Don’t accept an advance against royalties.” Instead, she says, deal with the publisher on a work-for-hire basis, and, on the principle that “money you have in your hand today is worth much more than money tomorrow,” get them to cut you one big paycheck before you deliver the manuscript.
It’s certainly an interesting theory, and I’m sure I’m not the only one who’s not 100% convinced. I’ve written several books for hire, as it happens, and while I’m proud of the competent work they contain, I’m still proudest of the book I published last year, because I “own” it in a way that doesn’t apply to the others. Of course, the fact that none of those earlier books has my name on the cover may make it easier for me to abandon all attachment to them…and though it might not necessarily be the soundest financial stance, that abstract sense of ownership counts for something a bit more than the paychecks in my heart.
Anyway, what do you think? We’ll run your responses in the very near future.
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