The new normal.
I’ve been working with our clients to help them pivot and pirouette; to reprogram their models to regain the confidence of their customers/clients. The results have been extremely gratifying.
Oh, sure, there’s been one or two we never should have agreed to help. Too truculent, too immature to recognize that change (even if it hurts) is necessary.
Two even complained about our pricing. Yes, everyone had been given a quote on the costs to help regrow their bottom line. But, one or two didn’t get it. We quoted these two $ 1000 for the effort to be paid upon invoice. And, then, presented them with an invoice listing all the hours of effort [mostly because of their inability to provide what we asked- it took multiple requests], with the final line being a discount of a thousand or two if payment was received within three days. They bitched that the total was $2K or $3K if they didn’t pay on time. Yup. Payment on invoice means IMMEDIATE payment. It doesn’t mean we have to wait for you to get around paying us without you paying a steep penalty.
Enough about that.
The PPP (Paycheck Protection Program) application and forgiveness was a lot simpler for us to effect. Those fees never approached a McKinley (look it up- he’s on the face of the bill). The EIDL (economic impact disaster loan) were of a similar magnitude, unless the firm applying never used conventional accounting programs (the EIDL will be a real problem if you don’t use one).
So, this time- now that the PPP (Paycheck Protection Program) has been revived (a good thing, generally)- we are going to demand payment up front. Because the folks we are going to be assisting are new to us- they haven’t been clients before. (Of course, we hope they stick around, since there are myriad ways we can help them regain their previous profitability. )
And, yes, for those of you unaware, this past Saturday, on the 4th of July, TheDonald signed the extension of the Paycheck Protection Program.
So, if you are looking for funds- via the PPP or an EIDL- or even the Main Line program (we are a little less confident of this one)- contact us immediately. We expect these funds to go quickly, now that folks are returning to the marketplace.
Paycheck protecting program looks like a helpful plan .
It could be- as long as companies are not forced to reclose or retrench because folks are ignoring the guidelines.
That is such great news, Roy! I’m sure it will help a lot of businesses that are in trouble right now.
Let’s hope they get their piece of the pie, Jeanine.
Not being familiar with the PPP made this post an interesting read! As to the first part about the invoice situation, I totally get that. Thanks for sharing this Roy. I learned a few things (as I usually do when I read your informative posts).
Barb recently posted..The Essential tools you need to teach an online course
I don’t know enough about your business, Barb. But, maybe you should be getting one, too!
Thanks for the information Roy… as always, you are on track with all that’s happening…
and oh well, reg those clients you mention, here is hoping to more mature clients in the future for you 🙂
vidya recently posted..Dinosaur Lady: Mary Anning
I’m more hoping they get a piece of the pie. We need our businesses to thrive- not just survive.
Hurry up and wait! We had a few clients that from the get go we knew we should have passed them up but I didn’t listen to hubby’s sixth sense. LOL.
Martha recently posted..I Watch As You Sleep
Yeah. There’s always that, Martha!