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Bigger. Better. Faster. Fewer Ulcers.
157 hits
| Jan 06, 2004 3:08 pm |
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re: How I stopped collections |
Steve Hardman
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A nice position to be in to be sure. Some businesses models are naturally that way, some can move that direction when they have fully established themselves, but others are not and never will be.
Those who are in B-B industries where the norm is a 30-day billing cycle, many start-ups, service/consultancies who don't have a recognized name all have issues with demanding cash up front.
Then of course there is the prospect of dealing with some mega-corps who simply hold onto the cash because they can but you know they will pay. Do you get nasty and revoke services until they cough it up or do you suck it up because losing the account is worse than getting your cash in 60-90 days? They love prepetuating the myth that getting money out of a big bureaucracy takes longer but somehow they manage to get payroll and 941 payments out on time.
Then of course there are the merchants that choose to deal with the government. You have to keep these people away from razor blades.
> Scott Stratten wrote:
> I do not work with anyone who cannot pay 50% up front. I always give a 5% discount of off the full fee if they pay 100% up front. All of my corporate clients do this. They love the discount, I love the immediate cash flow. With individual coaching clients, I collect the full fee up front for the month.
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>I just don't start any work until the money is in my hand, period.
Private Reply to Steve Hardman (new win) |
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