Yes -- but my book isn't a traditional, mass-printed book like that under discussion. When someone orders a copy of my book, one copy gets printed and shipped. Unlike in traditional publishing, there are no piles of my book in a warehouse, awaiting sale.
And I have to tell you, this new publishing model is going to wipe out the old model (so-called "dead-tree publishing"). And pretty soon, even that model will fall before the e-book model, where no "book" is printed at all, ever.
But as a writer I've dealt with various aspects of the old-style publishing business over a period of decades, not all with respect to books.
I see. So where do your very strong assertions about the folly of money-back guarantees come from? Data? Experience? Do you have friends who've done it?
I ask because I have lots of experience with it -- with 4 products offering total money-back guarantees -- and have insight into more than 10 friends' businesses with similar guarantees, and not a single one of us have had experience with refund abuse like you describe. Nor is it ever mentioned as an issue among the larger communities which offer that type of product for sale.
As patio11 said, your statements are testable, and if you test them, you will find them false.
I was simply summarizing. Here are your exact words:
"3. The problem is that the remaining 20% can take you at your word, demand a refund, explain that the book was lost in a fire, and succeed in wiping out your profit.
4. Worse, someone might say your claim moved your book from the category of an ordinary caveat-emptor purchase, to a guarantee of success, and demand consequential damages. Very bad, and you made it possible."
With your bulleted list you suggested that 20% of people would take advantage of a return policy (obliterating your presumed 20% profit margin), and on top of that, you might get sued.
If that's not "folly" by your definition, what is?
But because you cried foul, let me be explicit, step by step, with what you "actually" said:
#3. Where's your experience, evidence, or data to suggest that a 20% return rate is common or likely -- even with a results guarantee?
#4. Please provide credible examples of an (e)book author or video course producer being sued for damages above and beyond their refunded money-back guarantee, based on the premise of results promised not being delivered. (Other reasons for lawsuits wouldn't count.)
If you have evidence, I'd really love to see it, because it impacts my business.
And I have to tell you, this new publishing model is going to wipe out the old model (so-called "dead-tree publishing"). And pretty soon, even that model will fall before the e-book model, where no "book" is printed at all, ever.
But as a writer I've dealt with various aspects of the old-style publishing business over a period of decades, not all with respect to books.