When I was a freelancer I would sometimes reflect on my experience with clients and think. “If I ever ran a business I would never do that.” And there was one recurring theme: late payment.
Parking for a second that it’s rude, horrendously disrespectful and typically a breach of contract, how can we expect to get the best from someone if they are distracted from their work by trying to get paid? How can we expect them to go the extra mile for us if we can’t even be bothered to pay them on time? It is so stupid and self defeating.
So when we formed Methodical, Ben and I decided to do things differently. We’d pay people as soon as we could as a gesture of goodwill and gratitude, and to give our hard-working associates one less thing to worry about.
Guess what? They’ve repaid us a thousand times over with their great work, saying nice things about us, and by sticking with us when others are trying to lure their talent away. We also have a queue of amazing people who want to work with us that would be the envy of any consulting or agency business.
Total no brainer.
See this post on LinkedIn