We learnt a few business lessons the hard way from one or two peculiar clients, lessons learnt are worth sharing…
Mr. “It is very urgent” is that client, who uses a cloak of urgency as a ruse to bypass your billing procedures…
Ideally, since it’s urgent, the client should pay ‘urgently’ so that he can get the work product ‘urgently’!😂😂😂🤣🤣🤣
Alas, cheap clients cost you plenty of money!!!
For example, Mr. “#ItIsVeryUrgent” says he needs an LNG Vessel Charter agreement before nightfall. Out of naivety, you get your #lawyers #consultants to work all night, without sending in a fee note and collecting your fees.
You “mistakenly” send in the LNG Vessel Charter agreement(based on good faith), you sent him a bill after sending in the agreement. You billed him N2.5 million. He tells you, that he is only going to pay N100,000 in three instalments.
The #Losses your business has incurred include but are not limited to:
1. Overtime fees to be paid to your lawyers. ( If you pay overtime)
2. Client wriggled his way out of paying fees for *express service*
3. Client propositioned you in order to finance his transaction by getting you to do his work on credit.
4. Lost income, time you could have spent doing work for other clients that will pay in advance.
5. Client gained the upper hand, by negotiating your fees after receiving the work product.
Way forward, build your brand, target a more viable market segment, and stick to your billing procedures, automate it as soon as you can! 💡💡💡
Please share your experiences in the comment section below, tips on how to deal with Mr. “It is very urgent” and his aunt, Madam “The Great Helper ” (I am helping your business).