Friday, November 6, 2009

The Basics of Getting Paid - Part 3; Open Accounts

Note: I started this post, but never published it to finish off the series.

The reality of any business is that you're going to have work to get paid, especially if you're billing by the hour. This is especially true if you're practicing the traditional method of billing by the hour (there's another reason flat fee pricing is so great).

The key to avoiding delinquent accounts is to bill effectively. Like your telephone sales pitch, your billing statements should succinctly and eloquently describe the services. Nobody likes to pay for a 10 minute phone call, unless the phone call had value. Clients will resent you, and will consciously avoid paying bills they feel are valueless.

One the lessons I learned early is that "drafted motion for summary judgment" doesn't nearly have the panache as, "Researched case law regarding [legal issue], using [list resources consulted]. Discovered these cases: [list cases]. Drafted argument section of motion for summary judgment based on [case name or legal theory]."

Although clients don't understand any of the legal jargon, they do understand that you did a significant amount of work. Remember, the easier you can make it on them, and the more you can justify your costs, the more likely you'll be to get paid.


No comments:

Post a Comment