Payment Strategies – Finding a Comfortable Time Frame For You And Customers

One of the challenges all consultants face is setting up payment strategies for their customers. There is a need to keep revenue flowing while providing a reasonable amount of time for processing invoices. That is not as much a problem when there are multiple customers and they pay regularly. However, it can be crippling to a business when bill payments (or payroll) are delayed due to accounts receivable (AR) issues. A small company or individual consultant can struggle with this. …

When To Fire A Client

Recent events have me thinking about the pros and cons of when to fire a client. It is often a difficult decision to make and even more complicated than accepting a contract or customer. The challenge in accepting a customer includes questions such as whether you can take on the additional work or the profitability of the work. Once you land a customer, you are used to that revenue and level of work. Yes, even if that work includes headaches. …

Making Fixed Bid Projects A Success

I am not a fan of fixed bid projects in general. That distaste is such that I have turned some down in the past. However, sometimes we need to step into one of these arrangements. It is worth considering the actions we need to take to keep such projects fair to all parties. Here are some lessons I have learned from personal experience and from others that have entered into these agreements. The successes and failures are excellent teachers for …