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Cash Flow: The Make or Break of a Major Contract
Manage episode 155407937 series 1155253
Vantage Performance에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Vantage Performance 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
It’s common for businesses to get so excited about landing a big deal that they gloss over the detail involved in delivering the work. They just look at the revenue, consider their margins and rejoice at the extra money they’ll be making. Then they sign the contract.
A big customer will present you with a lengthy contract that has been developed over the years by top class lawyers. The early euphoria can be short-lived when, a short way down the track, you realise you have committed to a job that could send you broke.
In this week’s podcast Andrew Birch, a director of Vantage Performance based in Perth, explains that you really need to spend a lot of time consuming the detail of that contract. And, he says, you should be prepared to go back to the customer and negotiate aspects of the schedule if they make the job unworkable or overly risky.
Engaging lawyers on your side can push up costs at the onset, but the reward will be worth it. Especially if it saves your business.
Listen to the Podcast –
Related podcasts and blogs:
6 Tips for Contracting Businesses
Risk Management: Project Paperwork Protects Against Litigation
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