AE Blog - Getting Paid Without Getting Sued
While money isn’t everything, it is the measure and fuel of any business, including a design firm. Without payment for services firms suffer, starve, and even die. Payment issues are also often the single greatest warning sign of a project in trouble.
In reality, a proper approach to collections closely resembles a proper regimen for your personal health. Firms which get paid become and malnourished and increasingly susceptible to disease. Just as health is a life-long process, financial success is a project-long process. The following discussion tracks the relevant phases and provides analyses and strategies for those various phases. Those phases are:
- Preparing for the Client and Project.
- The Contract.
- The Project.
- Staying Current and Heading Off Trouble.
- Collection Resolution.
- Post-Project Evaluation.
To read the full details of the article by David A Ericksen please go to our resource library.