Archived posting to the Leica Users Group, 1998/12/23

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Subject: [Leica] Clients and payment-- was Leica Question
From: (Ted Grant)
Date: Wed, 23 Dec 1998 19:15:51 -0800

Donal Philby wrote:

>I once had an ad agency in NY tell me that if I couldn't fund a $40,000 job
>and wait 3 to 5 months to be paid I obviously wasn't big time enough for them
>to work with.

Hi donal,

This is what I mean about some of these agencies and their accounting
habits. It doesn't matter whether you're economically big enough to wait
the the 3 to 5 months to get paid, why the hell should you?  If they would
pay interest to you on what is invoiced for, I guess that's OK, at least in
a sick sort of way you are making money off them.

But what I've found with some companies is that they want you to "carry
them" but they don't want to pay interest for riding on your back,
regardless how much or little your interest maybe on accounts after 30
days.  So basically they want you as "free ride money" to operate their
business. As far as I'm concerned to hell with that! If I'm into my line of
credit at the bank they can't  wait to send their monthly statement to me
demanding their "interest". So what's good for the bank is good for me and
charging clients... So I don't work for the SOB's who expect a free ride on
my back to carry their multi million dollar organization.

I just tell anybody who gets on with that kind of "On my back" financing to
get stuffed!

>I simply require a down payment now from anyone for much of anything over
>$500.  I find that when people have money out of pocket on a job, they change
>their attitudes--being more cooperative, more receptive, more appreciative.

Well an advance makes a hell of a difference to some of them. However I've
had some of them figure because they gave you an advance they can wiat
longer to pay you. When that happens I give the account to either my lawyer
or a collection agency. And it doesn't matter if it's the Prime Minister's
office or the Bank of Canada.

I realize this topic is way off base about Leica. However, I think some of
the LUGNUTS who have been or are contemplating going "professional" can use
this kind of information, as it will save them selling their Leica's  to
buy food and pay the rent. :)

Ted Grant
This is Our Work. The Legacy of Sir William Osler.