Blog Archives

Freelancing: How are late fees working for you?

The case against freelancers charging late fees: Do they assures both payment of the original invoice and collection on the compounding fees?   Catch the full story on LinkedIn!

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How I would negotiate with Donald Trump

A fundamental goal in negotiations is win-win. Except with Donald Trump. He claims to be committed to his own winning and to everyone else losing. What sane business person would want to work with his companies?

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Hey, Mr. Trump, sorry I haven’t had the honor of working for you

Donald Trump believes that negotiations should be I-win-you-lose (in his favor). He enjoys playing with debt. And it’s bad news for us freelancers.

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The real biggest problem facing freelancers and consultants

The best way for freelancers and consultants to get paid is all upfront. However, just as we don’t trust our clients to pay promptly and in full at the end, they may not trust us to do anything at all if we are paid in full before starting. Not an unreasonable fear in the internet world. Therefore, it’s desirable to structure payment in multiple stages to keep moving the work forward. This may mean that payment is completed in full or substantially completed when the first polished draft is delivered.

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The time value of money—an important lesson for freelancers and consultants

As freelancers and consultants, even if we are certain we will be able to collect in the future, we prefer to collect our fees now if we have any business savvy at all. The reason for this preference is called the time value of money. The same amount of money is worth more now than it is later because we could invest that money today and earn interest during the time interval.

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Freelancing and consulting: How’s the rule of 45—or 60—working for you?

As freelancers and consultants, we read constantly about how important it is to be “paid what we are worth.” I am even more concerned about being paid “when I am worth.”

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Have you ever taken legal action on a freelance or consulting contract?

It has been many years as a freelancer / consultant since I have heard of a freelancer or consultant who has been successful in using the legal process to effect payment. Legal proceedings face more roadblocks than ever. What has been your experience?

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Freelancers and consultants: Watch out for slow paying clients

Large firms are slowing payments to product and service suppliers to improve cash flow, to the detriment of suppliers. It is equally as important for solopreneurs to negotiate prompt payment as to assure sufficient fees.

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Freelance and consulting: prompt payment is top priority

Larger companies are using their strength in the marketplace to take advantage of service and product suppliers, with invoices remaining unpaid for 90 days or even longer.

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How to freelance & consult: A great resource on what to charge

What to Charge: Pricing Strategies for Freelancers and Consultants, by Laurie Lewis, second edition, has just been published (2011). If you are a freelancer or consultant, this book is definitely worth its modest price.

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