We can all agree that getting paid for the work you do is pretty damn important, right?
Yet, what we find, is while everyone wants to get paid, they tend to be shooting themselves in the foot from the get-go and making it so much harder for themselves to collect the cash…
So, what I want to do now is breakdown 3 key principles that you can live by to ensure you ALWAYS get paid.
Principle #1 - No Signature. No Work. Period.
From this point forward, you do NOT complete work that hasn’t been signed off and agreed upon on paper. This is an absolute non-negotiable. You have no power whatsoever in a verbal agreement.
Now, if your customer won’t sign your proposal, variations or additional work orders, then you need to walk away. This is a basic form of respect. The client expects you to hold up to your end of the agreement, right?
Principle #2 - Take Control of the Process
They called you because you’re the expert, right? And you quoted the job based off how you do things, hey? Then why the hell are you doing things their way! Take control of the process and approach the job how you originally quoted it.
Now, if the client starts dictating how the work needs to be done or the sequence that they want it done, then call a time out and get some things in writing! Void your warranty. Make no promises that you’ll hit the deadlines, etc. The second you deviate from how you do things; you lose control, costs blow out and it becomes harder to get paid for the work actually done.
Principle #3 - Roll Out The Red Carpet And Deliver World-class Service & Experience
If you deliver to a standard that’s below what the customer was expecting (or what was promised), then there’s going to be resistance to paying you. Now, on the other end of the spectrum, if you deliver to a standard (in both product and experience) that is well above what the customer was expecting, then they’re going to try and find ways to pay you ASAP!
In fact, just the other week, one of our electrical clients experienced this, where they priced a job nearly 30% higher than what they would’ve done in the past (and where the market was sitting), but because they focused on delivering world-class service and experience, the customer was trying to pay them 50% of the quoted amount while they were still working on site!
How’s that for leveraging value to ensure you’re always getting paid!
Take these 3 key principles on board today, and make your cash collection process of tomorrow that much easier!
If you're an electrician, plumber, painter, carpenter, or any other trade business owner who is looking to take their business to the next level, click here to learn more about how our team can help!