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Re: Grinding back when good clients start to Grind

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Ned Miller
Re: Grinding back when good clients start to Grind
on Jun 26, 2010 at 1:17:49 am

Does anyone else done this? I have two long term clients: one I produce training videos for, they are the US's largest bank and only do 90 days net and the other I DP for and put together the crew, sometimes a large crew, they are the US's largest packaged food company and are now 60 net for everyone. Both pay exactly on that day, then there's maybe three days in the mail.

All costs are "soft", meaning no "hard" costs like airfare, hotels, etc. So what I do is tell the crew and vendors like teleprompter services, etc., "I have good news and bad news. The good news is I have a good piece of work that we can bump up in rate due to their being a late payer. The bad news is they will be 60 days (or 90). Are you in or out?" Perhaps if it's a kid in his twenties who needs the money badly I will pay out of my own pocket, otherwise all us older pros will wait. That's the deal.

Since the people I call have worked with me, sometimes for decades, and we know these are two of America's largest companies with no danger of going under, most people I call are cool with it. I email the day I get the check that their check will be going out in that day's mail.

The food company: ALL vendors are 60 days, no matter what. No upfront, no negotiation, period!

The big bank you all know: They are 90 because they are worried about vendor fraud and the invoice has to go through MANY layers of approval, and if it's for a new department I start all over as a "new" vendor with incredible paperwork. I have worked with both companies for many years, going back to when 30 was the norm.

But...there's a premium I charge and I can bank on the exact day the check will arrive. Most of the work all of us on this forum would consider not too challenging. Seems like sticking to my guns about upfront and 30 days net would be shooting myself in the foot. Anyone else do this?

Ned Miller
Chicago Videographer

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