Business Growth Hacks

Transforming Contracts Into Increased Cashflow


Listen Later

This episode of the Business Growth Hacks podcast features Whitney Hahn, an expert helping business owners grow while managing their busyness. Whitney discusses the pitfalls of contracts that hinder cash flow for service-based businesses, emphasizing the importance of time-based contracts over milestone-based ones. She shares insights into managing client expectations, project timelines, and recurring billing for improved cash flow management.

Key Points:

Contracts Impact Cash Flow: 

Misworded contracts can significantly affect cash flow, especially for service-based businesses with longer sales cycles and client involvement in the process.


Time-Based Contracts: 

Shifting from milestone-based to time-based contracts ensures regular billing intervals, aligning with project timelines and client engagement.


Client Communication: 

Effective communication with clients about billing schedules and expectations encourages timely feedback and approvals, contributing to smoother project management and cash flow.




Quotable Moments:

"I see a lot of service providers write their contracts in a way that is milestone based instead of timeline based."


"The clients will pay attention when an invoice comes. If they've been sitting on their feedback, they're getting invoiced for it anyway.”




Links Mentioned:


https://provokebetter.com/

https://provokebetter.com/bgh/

https://beefymarketing.com/

https://www.businessgrowthhacks.com/

...more
View all episodesView all episodes
Download on the App Store

Business Growth HacksBy Beefy Marketing / Business Growth Hacks

  • 5
  • 5
  • 5
  • 5
  • 5

5

7 ratings


More shows like Business Growth Hacks

View all
According to the Cassels by According to the Cassels

According to the Cassels

42 Listeners

Small Business Origins by Beefy Marketing/Small Business Origins

Small Business Origins

33 Listeners

Wealth Comes in A Variety of Forms by Beefy Marketing

Wealth Comes in A Variety of Forms

0 Listeners

Sailor Jimmy Podcast by Sailor Jimmy Podcast

Sailor Jimmy Podcast

9 Listeners

American Railroading Podcast by American Railroading

American Railroading Podcast

15 Listeners

The Unseen Journey by Operation Red Wings Foundation

The Unseen Journey

3 Listeners

No Reserve Podcast by BidWrangler

No Reserve Podcast

11 Listeners

Anxiety Society by Dr. Liz McIngvale and Cali Werner

Anxiety Society

47 Listeners

Festival Soup by Mike Baxter

Festival Soup

0 Listeners