Business or Charity?
By Michael StoneIf 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 StoneI 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 StoneSometimes 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 StoneHow do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.
Payment Schedules on Small Jobs
By Michael StoneIt’s important to manage the payment schedule on your jobs, but not all jobs are the same.
Enforcing Your Payment Schedule
By Michael StoneIf 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 StoneIf 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 StoneIntent to lien – payment schedules – contract language. Common problems contractors experience on jobs.
How Not to Do Business
By Michael StoneA 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.
Sending Invoices for Construction or Handyman Work
By Michael StoneInvoicing 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.
Asking for a Lien Release Prior to Payment
By Michael StoneA 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."
No More Mr. Nice Guy
By Michael StoneI 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.
Why You Need a Well-Written Contract
By Michael StoneA 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 StoneA coaching client related how one of his customers arbitrarily decided to change the payment schedule that was clearly written on the contract.
Provide a Service, Make a Profit
By Michael StoneA 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.
Play By The Rules
By Michael StoneI 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 StoneWe 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 StoneA question came in this week from a potential coaching client about when to schedule payments on their contracts.
Progress Payments
By Michael StoneWhat do you do when a progress payment from your customer is late?