As I write this in early January, fourth quarter numbers for all big businesses are just starting to trickle in. The whining about 2016 has commenced, some of it justified, some of it not.
The numbers aren’t just in for the major publishers; the numbers are in for indie writers as well. And the writers who crunch numbers are having varied reactions, often depending on years of business expertise.
I have a hunch that when all of the numbers arrive toward the end of this month or so, we’ll find out that 2016 was truly a mixed bag….
I’m not here to discuss the merits or lack thereof of Booktrope or ARe. I did that in other posts. What I need to discuss here is the future.
You see, these closures were right on time. And several other closures will follow in the next few years.
Some of the upcoming closures will be predictable. And others will catch us all by surprise.
Why am I saying this?
So, given that it will take a huge fight to get paid, assuming that ARe will be forced into bankruptcy, what do I advise? I’m not a lawyer, nor do I play one on TV.
I am, however, a small business owner who has lost tens, maybe hundreds, of thousands of dollars as an unsecured creditor when other companies have gone out of business.
I’ve been there, folks, and I’ve see what it does.
Here’s what I think you should do…