5 Tips for billing and collecting fees

1. Start in the right place - get clear from the outset what is in it for the client AND for your firm.  The client is investing in your skills and you both need to be clear about how that investment is to be managed and funded
    
2. Don't get sucked in - it is always exciting to get new business in but don't get so excited about the work that you forget the basics such as making sure that you have started in the right place (see above)
    
3. Talk to the client about fees - keeping the client informed about fees, even weekly if need be, is the surest way of ensuring they get paid.  Sending a bill is a great opportunity to talk to your client - embrace it!
    
4. Control yourself - only you can manage the time you, or those you manage, spend on a job.  If you are about to do some substantial work, check what is on the meter and if you don't have a clear mandate from the client get one
    
5. Make sure you get paid - like a good shepherd, never let any invoice get away without doing all you can to bring it home.  if you start to let bills go unpaid you are on a slippery slope - discipline in collection ensures discipline at the outset and throughout the client relationship

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