3 Strategies For Starting Out Right

You are new in business and you have been marketing yourself like crazy. The phone rings and you have a new client…what do you do now?

Don’t let the excitement of signing on a new client get in the way of you using sound business practices. Follow these three strategies to protect yourself when starting a new businesses relationship.

1. Have a contract or client agreement

I remember when I was in coaching school we devoted a whole course on sound business practices.The development of a client agreement/contract was at the top of the list.

When developing your agreement remember to include at a minimum the following: work hours, fee (this can be either your hourly fee or fee for particular program), payment terms, confidentiality statement, your status as an independent contractor, an “out” clause (e.g either party may terminate the agreement given 14 days written notice), as well as any other information that you feel is pertinent to your particular business. Make sure that your clients sign and return the contract before any work is performed and send a copy to the client for their files.

2. Create Plans

It’s easy when starting out to be unsure about pricing strategies and how much time a client may require in any given month.The best way that I have found to handle this situation is to develop client plans.

Clients purchase a certain amount of time based on a “package” that you create.These packages allow clients to purchase a certain amount of hours of service each month based on their particular needs.Some people use the bronze, silver, gold systems whereby the more hours you get the higher the package and the cost. Bronze is less hours and less money whereby the gold packageallows for more service hours at a higher price point.

3. Get Paid in Advance or Require a Deposit

We have all heard the stories of business people who started doing work for a client only to get stiffed in the end.The best way to protect yourself is to require that your clients either pay in advance or pay a deposit before you start working on their project or providing any type of service.The deposit doesn’t need to be astronomical but rather enough so that if they walk away you have been compensated for your time, effort and talent.

Most coaches that I know require payment inadvance. For example, you pay in August for coaching that will occur in September. Some VA’s do the same but others require a deposit that then is applied to the invoice at the end of the month.I use a variety of different payment strategies depending on whether or not someone is purchasing private or group coaching or signing up for a retreat or mastermind program.

The important point is that you develop these systems to ensure that you and your clients are on the same page with regard to payment.This is all laid out for my clients in my application and enrollment forms. In addition, all my clients complete an intake form which clearly lays out how I work and what my expectations are from this relationship. This ensures a win win situation for both of us because it is all spelled out BEFORE we start working together.

In the end its all about making sure that you and your clients are on the same page, that expectations are clear and that both parties are happy with the arrangements.

Maureen Campaiola, known by her clients, asthe DARE Coach is CEO of DARE To Be Phenomenal. She specializes in working with women entrepreneurs and small business owners who are looking to take their business and their life to a whole new level. Whether it be at a workshop, retreat or in group or private coaching Maureen always delivers smart and savvy ways that women can turn their business into a smooth running, fun and highly lucrative company. In addition, she is the founder of the wildly successfulSuccess Minded Women’s Business Network where like-minded and highly motivated women connect, support and engage in joint ventures. To learn more about how you can step into your greatness, accelerate your business, AND achieve all the personal and business success you desire visit: www.daretobephenomenal.com or email: maureen@daretobephenomenal.com