[LRUG] [FINANCE] Startup/finance question around invoices

[Peter Jones]

On this topic: Here's a great talk by Mike Monteiro who runs digital agency
'Mule' in the US: "F*ck you, pay me" All about how to get paid and setup
the right contracts: http://creativemornings.com/talks/mike-monteiro--2/1

*Peter Ellis Jones*
*Full Stack Developer*
London, UK
+44 0770 905 4244
Skype: petej205
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www.peterellisjones.com
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On 8 August 2014 11:03, Sam Phippen <samphippen at googlemail.com> wrote:

> Hi Sleepyfox,
>
> At my company (Fun and Plausible Solutions), we have a clause in our
> contract which says work stops if a client is 4 weeks late (interest starts
> after 2). That way the resolution is easy, obvious and automatic. We always
> let them know this will happen when we’re signing and so the expectation is
> there. I think you’re probably within your rights to withdraw the person
> from their team if they continue to be late, but obviously having it in
> your contract is always better than not. I hope that helps :)
>
> Thanks
> —
> Sam Phippen
>
> On 8 Aug 2014, at 10:59, Sleepyfox <sleepyfox at gmail.com> wrote:
>
> Apologies if this is off-topic, but I know a lot of people on the list run
> their own startups or consultancies and so may be interested in the
> discussion.
>
> # Challenge
> I have a client that for the third time running is late with paying their
> invoice. They have one of our team members working for them out with one of
> *their* clients (DWP), but despite our client being a multi-national
> consultancy employing 1600 people our best attempts to try and gently
> escalate the issue within their organisation have met with responses
> ranging from "stop rocking the boat", "why are you wasting my time", "go
> through proper channels" and "this is business as usual".
>
> I'm wondering if anyone here has any helpful advice on how to persuade
> clients to be more prompt with paying up. We're very clear with our T&Cs
> (payment due within 14 days of receipt, interest due afterwards at X% rate
> etc. etc.) and we're very prompt with issuing invoices and very responsive
> to any queries from clients' finance departments or accountants.
>
> I'm at a loss for what I can be doing better/differently - any clues?
>
> Thanks, and apologies again if this is [too] off-topic,
>
> Fox
> --
> "What does the @sleepyfox say?"
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