If your small business sells knowledge or services, it’s tough to repossess what you’ve sold once it’s gone if the client decides not to pay the bill.
At least once a week, I hear from a small business owner who is fighting to get the money they deserve from some deadbeat client who has decided not to pay.
That’s why, no matter what, you always need some sort of written agreement with your clients. It doesn’t have to be a full-blown contract, a letter of agreement will do. Just make sure that it spells out what you will provide, when and how your client will pay you.
Your best bet is to write up an agreement you can use as a template when selling your work. Make sure you have your attorney take a look at it. It will be money well spent.
Don’t forget to check out some of the great forms and agreements that are available right here on allbusiness.com. Look around, you may find exactly what you need.
What about you? Have any lessons learned to share with me? Leave me a comment and tell me about it.