How to manager customer relationships and expectations to get paid on time
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How to manager customer relationships and expectations to get paid on time

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Nobody likes invoice shock. When we do get higher than expected invoices, our first response is typically to hold off on payment, scrutinize, and dispute. So, if you are a vendor, web developer, ...

Nobody likes invoice shock. When we do get higher than expected invoices, our first response is typically to hold off on payment, scrutinize, and dispute. So, if you are a vendor, web developer, project manager, or service provider - it is important to manage client expectations and be as transparent with them as possible so as to avoid invoice shock and increase the chances of getting paid on time.

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How to manager customer relationships and expectations to get paid on time How to manager customer relationships and expectations to get paid on time Presentation Transcript

  • web design | development | marketing | strategy inQbation University Best Practices: Web Lesson: Where does money come from? By Blake Newman CEO, inQbation Integrated digital marketing agency Washington DC
  • Show me the money Contrary to popular belief…
  • Show me the money Money does not grow on trees
  • Show me the money There is no Bank of Blake
  • Value = Happy Clients Money comes from happy clients who feel they received good value
  • Time is money Everything starts with how you track time… because time is money, and… you cannot manage what you do not measure
  • The money cycle Track time accurately Work efficiently Invoice accurately Clients pay on time Get paid Estimate better
  • How not to get paid • Don’t pay attention to detail • Don’t follow directions • Don’t stick to the task order or scope of work • Don’t catch mistakes before showing to client • Don’t record time properly • Don’t deliver good value to client • Spend too much time, dwelling on task • Gold-plate the task, over-engineer solution
  • Invoice Shock Higher than expected invoice Shock and disbelief Dispute invoice Refuse to pay Demand discount Honeymoon is over
  • Clients don’t pay if • They are shocked at the invoice • Actual work grossly exceeds estimate • Work is not inline with task order • Cost seems excessive for the task • There are mistakes in the invoice • There are mistakes in the work • They catch mistakes before us • We seem to have misunderstood the task
  • Clients don’t like … Typically, clients don’t like to pay for: • Learning on the job • Research • Diagnostics and estimation • Mistakes • Fixing mistakes • Things outside scope of work • Misunderstandings
  • How to get paid Analyze Understand Plan Execute Record Report
  • How to get paid Analyze Understand Plan Execute Record Report Don’t research … analyze! Pay attention to detail and scope Engineer efficient and cost- effective solution Work with sense of purpose Record time accurately and completely Keep client informed, us e proper labels and descriptions
  • Keeping clients happy • Provide accurate estimates • Manage expectations • Keep clients informed of burn rate • Log time accurately • Use acceptable labels when recording time • Speak in plain (non-technical) language • Don’t over engineer the solution • Practice quality assurance, be competent
  • Happy clients pay • Estimate accurately • Work efficiently • Record time • Manage expectations • Be transparent • Satisfy expectations • Deliver good value … then clients will pay
  • BizPulse can help The reason we built BizPulse.com in the first place was to become more transparent with our clients, manage expectations, and avoid invoice shock. If you are having problems managing expectations, we invite you to try BizPulse.com.
  • Blake.Newman@inQbation.com web design | development | marketing | strategy