> Get rid of any client that is not a positive asset to your company.
I have to second, third, and fourth this sentiment. This year was a decent year for our new little company, and we got to convert a couple of clients we used to work with when we only did web design & development. Initially, that was a huge boon to our business. But then, one of those clients went through a sweeping staff change and turned into what we all know here as a "Grinder".
This Grinder did all the typical things a Grinder does, including not paying their bills. And they wanted a ton of free work, as Grinders do. In the end, we settled with them without going to court. Yes, we only got about half what they owed us. But the mental anguish and day to day frustration my poor editor and I were going through is now over. And I have to emphasize- how this Grinder was treating us rubbed off on how I was beginning to treat people. That's really not good, and I'm thankful I nipped that in the bud.
The very next day, we got a new client.
Funny how that works, isn't it?
Also, please listen to the guy who said revise your contracts: this year we added a simple clause to ours, where a client owes us 2% more than the invoice amount if it's +30 days, and 5% if it's +60 days late. You'd be shocked at how fast formerly slow-paying clients pay you! Throw in a 1% discount if they pay within 2 weeks, and blammo, instant improvement in cash flow.
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http://www.geniusmonkeys.com
(818) 653-9144
