Originally posted by BigRed
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There has to be a better way
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Originally posted by scooterscot View PostClose to 50% of my work is repeat business. I spend a lot less energy procuring work from a past client than I do a new one.
A new client can take me up to a year before the first invoice comes through.
I went 4 months, once, that was more than enoughThe Chunt of Chunts.Comment
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Originally posted by scooterscot View PostA new client can take me up to a year before the first invoice comes through.
seriously I had 90 payment days with one client and nearly took them to court, it was a one day job as well.
Barstewards.
The regulars wanted me back so were shoving cash into my hands.
Always try previous clients & managers. My current WFH job was via a previous sales manager I worked with.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by MrMarkyMark View PostA year?!
I went 4 months, once, that was more than enough
You contact the client and have some discussions. With a a bit of to-ing and fro-ing a month can easily pass.
Write up and submit a proposal. It gets reviewed. Clarified. Reworked. Another month.
Wait for "managment approval", this can chew up several months.
Win the bid. Wait for "Procurement" to issue the Purchase Order.
Start the work and then depending on your agreed "payment milestones" begin invoicing.
The first invoice often takes the longest ( get set up in the clients systems etc ) and then it's not uncommon to find clients with 60 - 90 days payment "terms".
I won a dozen fixed-price bespoke enhancements for one of my products last year from different clients. Some of them drag on forever to get the work started. Very few start within a month of first-contact.Comment
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Those would be R&D enhancements I assume?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostThose would be R&D enhancements I assume?
When I issue a statement of work for a fixed-price enhancement I make it clear that I continue to own the IP and I won't accept any enhancement that would not be generally useful to all my potential customers ..... in other words I get my customers to pay for the R&D.Comment
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Originally posted by tomtomagain View PostA year might be a bit on the long side but it's not implausible.
You contact the client and have some discussions. With a a bit of to-ing and fro-ing a month can easily pass.
Write up and submit a proposal. It gets reviewed. Clarified. Reworked. Another month.
Wait for "managment approval", this can chew up several months.
Win the bid. Wait for "Procurement" to issue the Purchase Order.
Start the work and then depending on your agreed "payment milestones" begin invoicing.
The first invoice often takes the longest ( get set up in the clients systems etc ) and then it's not uncommon to find clients with 60 - 90 days payment "terms".
I won a dozen fixed-price bespoke enhancements for one of my products last year from different clients. Some of them drag on forever to get the work started. Very few start within a month of first-contact.
You should still be taxed as a worker its only fair
You have your own product, so I completely understand.
My Mrs. is working on something similar, I can see how you could wait a year for payment if you are delivering a major, possibly tailored to requirements type solution.
Hopefully, you can negotiate milestone payments to ease the pain.Last edited by MrMarkyMark; 9 March 2017, 16:37.The Chunt of Chunts.Comment
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Originally posted by MrMarkyMark View PostYou should still be taxed as a worker its only fair
You have your own product, so I completely understand.
Which is another downside to the current set of tax changes.
No longer will someone be able to have a contract in order to get the funding together to build their own start-up.
My Mrs. is working on something similar, I can see how you could wait a year for payment if you are delivering a major, possibly tailored to requirements type solution.
Hopefully, you can negotiate milestone payments to ease the pain.Comment
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Originally posted by tomtomagain View PostI'm taxed as a director ... so there's pretty much no advantage in that compared to an inside IR35 contractor now :-(
Which is another downside to the current set of tax changes.
No longer will someone be able to have a contract in order to get the funding together to build their own start-up.
Payment milestones are the key. I ask for between 50 & 100% up front!
Have suggested hopefully (!) I can be a kept man in a few yearsThe Chunt of Chunts.Comment
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