))
Cash Flow: The Make or Break of a Major Contract
Manage episode 155407937 series 1155253
Kandungan disediakan oleh Vantage Performance. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Vantage Performance atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.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
30 episod
Kongsi
