e149 – Deposits, Terms, and $ (Take II)

Show Notes – Episode 149

  • The backstory on this episode is: as projects continue to spin up with wonderful client requests, internally at TLC Creative Services, we have been revisiting our rate sheet, project timelines and project terms. The Presentation Podcast’s focus on the business of presentation design is a great resource, that I found myself (Troy Chollar) using. This episode we revisit a conversation Sandy, Nolan and myself had back in 2017 were we discuss presentation project Deposits, Terms and Rates. Virtually every part of the conversation is relevant today, so much so that it is worth bringing back to the surface episode 28 and hopefully encouraging you to evaluate your project options and assuring things are advantageous for both sides of the project; the designer and recipient. Enjoy.

Discussion Topics:

  • Summary: When a new design project comes in, the project billing amount and process needs to be defined. Is there a deposit? What are the payment terms? All very important considerations on the business side of design and the topic of discussion for Troy, Sandy and Nolan this episode.
  • Hourly vs. Project/flat Rate
  • Contracts
  • Favorite Contract Clauses?
  • Weirdest, most infuriating client contract clauses?
  • Project deposits?
  • When do you invoice the balance, at end of project, milestones, phases, or other?
  • Do you use the same rate for all types of work?
  • Do you have pre-payment discounts, rush rates, overtime rate, or anything else that changes the invoice?
  • Have you ever had a client cancel a project that was in process? Did you get paid?
  • Do you have to work with an Accounts Payable or someone other than your project contact to get paid?
  • Cash, check, direct deposit, credit card, barter: how do clients pay you?
  • Terms for Payment: immediate, 30-60-never, and when project is on hold for too long?
  • Original episode, episode 28

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