Strategically Speaking: 19 Tips for Better Cash Flow Management
Careful cash management is more important than ever. Traditional practices may not be in your best interest today.
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Royalties
18. Royalty Advances: Circumstances permitting, royalty advances should be staggered and tied to specific contract-based deliverables to increase the chances that the final manuscript is submitted as scheduled and cash retained for as long as possible.
19. Return Reserves: Many royalty contracts include provisions that allow the publisher to retain a portion of the author’s royalty payments in anticipation of future returns. Publishers sometimes are reluctant to enforce the return-reserve provision because of the potential implications for author relations. If you decide to implement the clause, it should be done on a going-forward basis with new titles rather than retroactive enforcement.
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David Hetherington
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