4 ways a contract helps you sleep: Part 2 – Relationships

Last week I looked at how contracts can help you sleep by sorting out your cash flow.

This week I’m going to look at how a contract helps you focus your energy on the right areas of your relationship with your customer.

A correctly worded contract stop you from counting sheep and get some sleep

A correctly worded contract stop you from counting sheep and get some sleep

If you are focusing on outstanding invoices, on money that hasn’t been received or your thinking about how do I talk to them about money, then you are draining your reserves, your not focusing on the correct end goal that will add most value to your customer, your not in your comfort zone, so you will be tired and you will sleep less.

So how can a contract help you get your relationship back on track?

One of the benefits Sian’s story last week showed was that using a correctly worded contract helped with that she didn’t expect was allowing the relationship to purely focus on the end goal. By this she means, the relationship between the Coach and the coachee can be focused purely on their goals.

It’s not always your contact pays bills

So this can mean:

  • You are chasing the wrong person
  • The conversations about payment take 3 times as long
  • It’s awkward asking the wrong person for money and payment dates.

So how do you find out who is the right person to have these conversations with? Clarify in your contract the person who pays the bills

A contract tells your customer what they are paying for

  • Agree in the contract if you need to quote anything to enable making payment easier
  • The contract clarifies the service / product the customer are paying for
  • Your contract should clarify who your contact is to talk to about payments and where to send the invoice.

Sam Pratt Story

We are a small video production company where cash flow is key to the running of our business. We have a few large companies as clients and getting payment on time can be tricky due to their complex systems.

But with Rachael’s advice we were able to build relationships with these clients that enabled us to be paid ontime, every time. This has enabled us to take on more work and thus grow the company.

You need this woman in your business. Rachael helped me get my invoices paid early. What’s more to like? All I took was a few changes to my invoicing methods and a point in the right direction and I was sorted.

 

Do you want to join Sam in getting your invoices paid early?

If this sounds like something you would like then take a look at my Cash flow page or contact me and let’s see if we can work together to turn your cash flow around.

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