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Expert Witnesses: 5 Common Cash-Flow Mistakes, #3

#3, Not Utilizing Your Leverage When It Comes to Delinquent Payees:

You have leverage and at times you need to use it!  We are all busy professionals and often forget to do something if it is not right in front of us – for our attorney clients, paying us experts is one of them.  Sometimes we have a client or two that continuously don’t pay on time, become several invoices behind and need to have a little fire lit under them in order to get their attention.  This is when your leverage becomes a golden tool.  When you mention the leverage points that could slow or halt the deliverable of your product(s) clients are more responsive in submitting payment to you.  The last thing your client wants is a delay in receiving your deliverable; and the last thing you want as an expert is a client that isn’t paying you for your services.  

Use of the items listed above will result in a faster turnaround time for your payment(s).  It is important that you have these items listed in your contract to make your client aware that these leverage points will be fully executed if they do not pay on time.  At ARS we keep track of your deposition and trial testimony schedule.  We alert you when a client has become delinquent and there is an upcoming request for your presents.  At that point we will discuss the history of this client, the leverage options you have and how to most effectively put them to use. 

Stay Tuned Next Week for #4!

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