Business or Charity?

By Michael Stone

If you’re a business owner and take on a project out of the goodness of your heart, recognize you might not get paid and will be funding the project.


Payment Methods

By Michael Stone

I don’t think writing a check is old fashioned, but there are so many advantages to using a credit or debit card that it’s become the preferred payment method for many.


Keep Your Head, Get Paid, Protect Yourself

By Michael Stone

Sometimes a potential client expects you to work for free. That’s not a smart route to take unless you have a lot of money in the bank and time on your hands.


Dishonest Clients; Collecting the Final Payment

By Michael Stone

How do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.


Payment Schedules on Small Jobs

By Michael Stone

It’s important to manage the payment schedule on your jobs, but not all jobs are the same.


Enforcing Your Payment Schedule

By Michael Stone

If I were to catalog incoming phone calls by topic, I’d guess at least half of them have to do with collecting payment on jobs. What do you do when they won’t pay?


Getting Paid

By Michael Stone

If the payment schedule is adjusted after you’ve started a job and they aren’t willing to pay what’s owed, file liens. You must protect your right to be paid.


Remodeling Contracts – Intent to Lien, Payment Schedules

By Michael Stone

Intent to lien – payment schedules – contract language. Common problems contractors experience on jobs.


The Vendor Client Relationship

By Michael Stone

We have to share this video, sent to us …

The Vendor Client Relationship Read More »


How Not to Do Business

By Michael Stone

A friend called today with a problem. He subbed his work to a general contractor from the east coast to do a job here on the west coast at a government facility.


“Pay If Paid” or “Pay When Paid” Agreements

By Michael Stone

I read an article by a practicing attorney dealing with pay when paid (or pay if paid) clauses in contracts, specifically between general contractors and subcontractors.


Sending Invoices for Construction or Handyman Work

By Michael Stone

Invoicing is one way clients delay paying. "Thanks for doing that work, send me an invoice, okay?" Why do contractors agree? Maybe they believe everyone does it.


Set a Payment Schedule, and Keep It

By Michael Stone

Client misunderstandings happen, but there are steps you can take to make sure you are paid in full, on time, and reduce those misunderstandings.


Asking for a Lien Release Prior to Payment

By Michael Stone

A specialty contractor said, "A general contractor called and asked me to send a lien release. If I do that, he will send a check for what he owes me."


Get Paid

By Michael Stone

They want to know how to deal with owners who come to them 60%, 70% or 80% of the way through a job and announce they want to re-negotiate the price of the contract.


Set a Standard for Attorneys

By Michael Stone

This week, I was reminded again about the need to be diligent in not just watching our receivables, but also in collecting them.


No More Mr. Nice Guy

By Michael Stone

I took a call from a married contractor with four young children. He can’t collect the final funds due from an owner for a large job. They are about to lose everything.


Payment terms that won’t bankrupt your business

By Michael Stone

Many of you do handyman projects or work for property management companies. Here is something that you need to watch.


Why You Need a Well-Written Contract

By Michael Stone

A client decided to change the rules of their contract. She decided not to pay the full amount or on time as the contract specified.


Changing the Payment Schedule – Honor Your Contract

By Michael Stone

A coaching client related how one of his customers arbitrarily decided to change the payment schedule that was clearly written on the contract.


Customer Relationships, Payment Schedules for Construction

By Michael Stone

Have you noticed that when you have a solid, well thought out payment schedule and insist your customers abide by that schedule, you have fewer problems?


Provide a Service, Make a Profit

By Michael Stone

A young businessman called. He was in a state of shock after checking his books over the weekend and found over $11,000 in receivables, much of it over 30 days.


Getting Paid for Quotes – Part 2

By Michael Stone

Respect your time – get paid for the work you do.


Play By The Rules

By Michael Stone

I was recently involved as an expert witness for a contractor who wasn’t getting paid for work completed. The hardest part will be proving actual expenses for the job.


Architects, Payment Schedules in Construction

By Michael Stone

We recently got a call from a young man with a remodeling company in the east. An architect was providing him with a great opportunity and he wanted my opinion.


Payment Schedules in Construction

By Michael Stone

A question came in this week from a potential coaching client about when to schedule payments on their contracts.


Progress Payments

By Michael Stone

What do you do when a progress payment from your customer is late?


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