Thursday, March 12, 2009

Credit Management for Professional Services

I was at lunch today, and one of my architectural clients was telling me about a Doctor complaining that he wanted a retainer before he started work. Now we would all think that there shouldn't be a problem with Dr. Client paying his bill, and ability isn't the question.

This client was diligent and used my exact response - Doctors are paid at time of service, we've only asked for a portion at time of service... why should your service be any different? Do you find yourself leaving your operating policies? Do you step away from your proposals original terms and conditions?

Credit Applications and well defined terms and conditions can lay out the relationship - when you're best friends with your client. I'd love to hear about your successes or pot holes to support a new book. Most Professionals sell time - or a service - and after you are no longer in pain or sick, the intangible product is hard to validate.
I have a few "tricks" of the trade... let me show them to you!

Melissa Nash Andrews