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Yes, Ask For The Money


Set expectations about payment for services up front

Keep expectations clear when working for a client: in rough economic times, it's important that customers understand when and how you should be paid for services rendered.

No one wants to go through some kind of dispute when the job's done and it's time to book the revenue from the work. Survival through the currently poor economy means minimizing the amount of time needed to get paid.

IndustryWeek said it's important to communicate with customers what you expect and when you expect it. "Boldly, but respectfully, emphasize what work was done, how much should be paid and when the money is due," they said.

If you are in a position to do so, offer a minor discount or other incentive in exchange for pre-payment for a job. That only works for certain professions, but the small slice of profit given up to get revenue up front may be worth it.

IndustryWeek also listed other little tips to help small business in a time where soaring food and gas costs hammer people's ability to spend elsewhere in the economy. Among the suggestions: keep the little perks, like morning bagels on Monday or whatever. Valued employees may see perk-cutting as a hint of insolvency, and look for work elsewhere.

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News Tags: Money, Legal, Payment, Contracts
About the author:
David Utter is a staff writer for SmallBusinessNewz covering technology and business. Follow me on Twitter, and you can reach me via email at dutter @ ientry dot com.

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