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Re: Who's on first?

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Neil Hurwitz
Re: Who's on first?
on Aug 2, 2011 at 3:18:30 pm

I'd say you would be crazy to put your relationship with
client A in any Jeopardy. This is a longstanding client that has paid you net 60, on time, since the beginning of your relationship,
You have agreed to this in the past and changing now would be a mistake. Your problem was not caused by client A but by the client that
went out of business (not a happy day for them or you) So what do you do? Look for an additional source of temporary capital.
Bank line of credit, Credit card advances, Friends & Relatives.
It sounds like your business is sound and you have a temporary
cash shortage caused by a failure of a client. This is not a reason
to put any other relationship in jeopardy. I know of many many
houses in this industry that would jump for joy and count their
lucky stars if all their clients paid them in 60 days. I doubt very much that those advising you to change the way you do business
get paid in exactly 30 days or by the terms of their billing.
In this industry 60 is the new 30, You should feel good
that you have clients that give you a steady flow of work and
pay in 60 days. You will simply have to find a way to plug the whole
caused by the client that went out of business, But to do this by
squeezing other clients is just bad advice.

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