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Tuesday, 22 March 2016

Have you heard this?

"I am quitting my business because none of my clients are paying me!"

Can you believe it?!

When I heard this the other day, it sent me into a dizzy! I could not imagine it happening to anyone. Why would all of the clients for one company not pay their bills?

It prompted me to ask some questions.

Exactly how many of your clients did not pay you?

Have you sent them bills?

Did you have them sign an Memorandum of Understanding upon agreement to work together?

Why didn't you get 50% paid to you up front?

Are you sure that your clients knew exactly how much you charged? Perhaps there is a misunderstanding about how much you were going to charge?

Usually when I hear comments like this, questions come to my mind. It is always a two-way street. This type of situation is because of a lack of communication and lack of understanding.

Being in business for yourself is tough and sometimes we have to chase the money to get paid. However, if we set things up from the beginning with proper documentation completed and a deposit up front, the rest comes easy.

Try it with your next client and see how it works.

If you have challenges with how to write a Memorandum of Understanding, I have a simple one-page one that was written by a lawyer for my coach. He was gracious enough to share it with me. I can share it with you if you like.

To avoid getting into a situation like the one mentioned in this post, sign up for our FREE series.

Join the conversation today!

Christine Till
The Marketing Mentress

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