Showing posts with label indie. Show all posts
Showing posts with label indie. Show all posts

Friday, August 10, 2012

The Takedown of LendInk: Who Won?

This week marks the demise of LendInk and the end of owner Dale Porter’s American Dream. It’s a sad, yet fascinating, case of ethical business practices. (Disclaimer: Content has been changed to correct erroneous information.)
LendInk: (Previously stated that LendInk did not have a FAQs page, which was incorrect.) LendInk did have a FAQ page asserting the validity and legality of their site.  Although the site is no longer live, you can read some of that content at Indie Author. LendInk appears to have done everything right, so why did they become the target of an indie author outrage mob? Read: What Happened to LendInk? The owner responds.

Authors: Aside from not doing their due diligence to understand the site, they failed to resolve their conflict (real or perceived) in an ethical manner. I’m sure LendInk did get numerous contacts from confused authors but those concerns should have been easy to arbitrate considering that LendInk was legally and ethically in the right. Instead, authors waged a very public campaign complete with virtual pitchforks and fueled by ignorance. Regardless of whether the authors were in the right or the wrong, they made a sizeable mistake: Reaction instead of Ethical Action. Which has led to some ugly backlash and retaliation against certain indie authors. Read: LendInk taken down by A**hole Indie Authors.

It’s a bit ironic that many self-published authors call themselves indie to break away from the ignorant, vanity press stigma and, subsequently, the term indie has grown in negative connotations. Which begs the question, is “Indie” the new “Self-Published?” (Please Lord, I hope not. I hope we are aspiring to do better!)

The point for me is not to lay blame, but to ask: Is there anything worth learning from The Tragic Tale of LendInk that will make me a better human being and a better business person?

No matter what you call your author-self, the basic principles of business ethics are important.  Let’s look to the US Better Business Bureau, whose motto is Start With Trust, for guidance:

What complaints do we handle?

Disagreements between businesses and their customers. However, we reserve the right to reject complaints that use abusive or foul language.

 How do we handle your complaint?
Everything you submit will be forwarded to the business within two business days. The business will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the business’s response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

It’s useful to note that the first thing the BBB does is to facilitate communication between the customer and the business to rectify the perceived wrong. How can we as self-published authors/small business owners reapply this best-in-class practice?

Do your research. Reach out privately, business to business. Ask for a response within 14 days. If you do not get satisfaction within the requested period, escalate privately using MUSO or legal representation.

Before you wage (or join) a public crusade, ask yourself:

·        Do I know what I’m talking about—have I done my research?

·         What if I were the person on the opposite end? How would I want to be treated?

·        Have I tried to arbitrate privately?

·        Could this damage my reputation?

·        Is this something I want on the internet FOREVER?

·        And finally: What would I advise my child or a relative’s child to do? Is this responsible advice?

Always keep top of mind: A few books sales lost to piracy are not worth the loss of your professional reputation.
Carey

(Who may, or may not, work in the Marketing & Sales division of a global, publicly traded Fortune 500 company which happens to be the largest consumer packaged goods company in the world.) www.careycorp.com

Thursday, January 5, 2012

The Experimental Girl


December was an experimental month for me. In November, I published a dystopian short story, THE WAY LIFE WAS FOREVER, at $.99. At the end I included the first chapter of THE HALO CHRONICLES: THE GUARDIAN. Then I dropped THE GUARDIAN from $2.99 to $.99 to participate in a holiday promotion called Book Lovers Buffet.


For the purposes of this analysis, I am going to use my Amazon sales.

December 1-24 results:
THE WAY LIFE WAS FOREVER $.99: 4
THE HALO CHRONICLES: THE GUARDIAN $.99: 66




I decided to make THE WAY LIFE WAS FOREVER free to promote THE GUARDIAN. It went into effect just after Christmas.




December 26-31 results:
THE WAY LIFE WAS FOREVER $.00: 617
THE HALO CHRONICLES: THE GUARDIAN $.99: 53

January 1-4 results:
THE WAY LIFE WAS FOREVER $.00: 767
THE HALO CHRONICLES: THE GUARDIAN $.99: 27



 The results are so phenomenal that I am going to keep THE WAY LIFE WAS FOREVER free.
Now my dilemma, the promotion for THE HALO CHRONICLES: THE GUARDIAN  ends 1/15/12. Should I keep it at $.99 with much lower royalties or take it back up to $2.99.

What do you think?

Thursday, August 25, 2011

Going Indie - Is it worth it?

Time to talk results.

I take this giant leap of faith - so necessary to gain forward momentum in my career - and three months have passed. Some authors are selling tens of thousands, some authors are making thousands a month, and a very lucky few are doing both.

And me?

My results have exceeded my expectations. I have recouped my initial expenses. And most importantly, I have taken the next step in my career. No regrets.

So lets talk Dollars and Cents:

THE HALO CHRONICLES: THE GUARDIAN sells for $2.99 eBook and $14.99 print (discounted at B&N but with very little margin for me).


Sales
Earned

MAY 24th

Amazon
36
$36

B&N
24
$46

JUNE



Amazon
19
$32

B&N
27
$52

JULY



Amazon
24
$45

B&N
20
$38

Print
6
$35

AUGUST



Amazon
19
$35
est.
B&N
5
$9

Print
2
$7

Smashwords (3mo. total)
10
$23



TOTAL
192
$358





A good friend of mine, who published about the same time, has sold in the thousands. While ecstatic for her, for like a second I was jealous of her sales. (LOL Tonya).

Keep in Mind at my Pricing structure: 100 = 700

I considered dropping my book to $.99. While $.99 price point does tend to explode sales, the margin is very low.

$2.99 (70% is $2.093) x100sales = $209.30
$.99 (30% is $.297) x100sales= $29.70;  700sales= $207.90
My choice, earnings at $2.99 or sales at $.99? The authors who are really doing well have a tiered approach (that I plan to model). When their subsequent book releases for $2.99 or $3.99, their current title drops to $.99. That way they are accomplishing both sales and earning. So I'm hard at work on the sequel THE HALO CHRONICLES: THE KEEPER. :)

Here are some other AMAZING indie authors who have transparently shared results:

* Debra also has a great post on price point

Debra's August sales information
Theresa Ragan

Gemma Halliday's results (1 year 600k and counting)
D.D. Scott (on Right side of page)

Cate Rowan on The Ruby Slippered Sisterhood site

Julianne MacLean's promotion experiment (How important are cover and price?)
Know of any other indies disclosing sales? Post a link in comments and I will update this post. :)

Thursday, June 9, 2011

What can Small Press do for you, you can't do for yourself?

Good morning all!



I am guest blogging today on The Writer's guide to E-Publishing. What can small press do for you, you can't do for yourself? Please stop on over.

Also, check out the cool indie contest I'm participating in: Win a Kindle for your Kid.

Sunday, May 29, 2011

Don't you... Forget about me.

On Friday I virtually sat down with Golden Heart finalist author and fellow MargaRITA Vanessa Barneveld to discuss THE HALO CHRONICLES: THE GUARDIAN. We talked about everything from my sad prom experience, to John Hughes angst influences, to my own real-life teen guardian angel experience.

Due to a stomach bug, I didn't promote like I wanted, so in honor of the long weekend we're keeping the stories going. Got your own guardian angel story or a favorite John Hughes movie? If you haven't had a chance to stop over yet, don't be a neo-maxi-zoom-dweebie, be sure to come by and share. HERE.



Funny story: Last week the hubby and I went to my 10-year-old’s band concert where they played the theme to Bridge on the River Kwai. Hubby turns to me and says, “Man, I really want to watch Bridge on the River Kwai.” and I’m thinking, “Boy, I really want to watch Breakfast Club!” Ha!

The winner of Tuesday's THE HALO CHRONICLES: THE GUARDIAN release day eBook is Athena_Grayson. Athena, please email me at careycorp(at)fuse(dot)net.

Thursday, May 19, 2011

Losing it

Less than one week until book release.
This morning I had an eloquent analogy about the Kentucky Derby and the home stretch. Then I got in the shower—where I usually have my best thinks—and it all unraveled. Not only did I lose my extremely clever, relevant, and (dare I say) world-changing opening. I couldn’t remember if I conditioned my hair or merely thought about it. Bottom line: I’m losing it! ;)
So today, I’m going to give a quick update on where I am, and then open up the cyber floor for questions: Professional, personal or other—my filters are down, so ask away.
Then Tuesday, I’ll be doing a very special Launch Day blog. I’ll be giving away a free digital copy of THE HALO CHRONICLES: THE GUARDIAN. **And I’ll be unveiling the first book I ever wrote** It’s from 1977. Prepare to be amazed and blown-away.

Where I’m at: Formatting done. Uploaded to Smashwords, B&N, Amazon Kindle. Waiting for publications to clear, then I’ll do a final check to make sure everything looks right.
Conclusion: In the home stretch, focus is the most important thing.
Mood: Dry?
Related topics: Theresa Ragan sold 10,000 books in 10 weeks. Whether traditional or indie, her blog will inspire you. Be sure to check out How I Got Started.
Next steps: final checks
Your turn: Ask me anything you want!