Where do you get your business computer support? You should get it from either PC-VIP or The Computer Answer Guy, but because our two stellar support options—great as they are—each serve specific groups, you’re forgiven if you use someone else.
If you use Barrister Global Services, though, this blogger doesn’t forgive you at all. And maybe he has a point. Or maybe not. Consider:
It’s a longstanding practice in the business world to offer customers a discount to pay their bills early. Actually, it was a longstanding practice, but if you’re under 35 years old you may never have seen an invoice that said “2/10 Net 30“. By offering customers a 2% discount if they pay their bills in 10 days, you’re really trying to avoid the other end of the spectrum; some customers take way longer than the 30 days you’re actually asking to be paid in.
It seems Barrister has initiated a new scheme to hold onto their money, and it’s the reverse of what I’ve described: they offer their contractors a price to do work, and then tell them that they’ll pay them faster if they take less. And at 20% it’s a lot less, especially considering that the hurry-up being offered is only a few days.
But is there anything wrong with this?
Frankly, I don’t think so. It preys on Barrister’s less-educated contractors, of course, in exactly the same way that H&R Block offering you an instant tax refund so you don’t have to wait a couple of weeks for IRS processing preys on people who need cash fast at almost any cost.
And really, it raises the question of how smart the people Barrister hires are if they’ll take such a deal.
But if you can offer customers a discount to pay on time, why not also offer contractors faster payment in exchange for a discount?
Happy New Year. There’s some real business change to start the year off right.