Some of us too have been talking about the demise of the book and the possible demise of places like Waterstones. I think it may be no bad thing if a monopoly like that disappeared. It leaves way for the small independents again. And if they get the ebook-reader right, it could be a real boon.
Our publishing venture is sort of cash flow protected. We don’t give royalties until the book is in profit and then the royalties we give are very generous ones – the authors get 60% of the profits. We’re pretty well cash-flow protected, though I do risk, especially with bookshops, ordering up-front. However, I shill only do that if I have the cash in hand. Otherwise, people just have to wait. Interestingly, I’ve never made anybody wait yet.
I’m feeling at a slight loss at the moment, because I don’t actually have a book in production right now.