Following a break for the Holidays, the BCS Bowl Game, and several NFL Playoffs, I am returning to my series covering the subject of getting paid by your customers. “How to Collect from Anyone (Even Enron)” found in Inc. Magazine, has been a helpful source for these blog posts.
Way to get paid #8: Don’t Let the Last Be Least. The hardest check to collect is often the last one, since that is when the job is complete and your leverage, your negotiating power is diminished. The CEO of a staffing company that provides construction labor takes this approach. He is careful about when he sends his final invoice for a project. He sends it in time to arrive while his workers are still on the job site. If his customer takes too long to pay, he has the option of pulling his workers off the job before they complete the work.
“Avoid your enemy’s position of strength. Gain your advantage at your enemy’s point of weakness.”– from The Art of War by Sun Tzu.