Thursday, October 05, 2006

Deliver first and get paid later or maybe not at all

There seems to be a very common illness among local companies about making good on their promise to make payment. Talk to any entrepreneur or business owner and 8 out of 10 would tell you that they have suffered such a fate. This is especially true in the construction industry. That is the main reason for most projects getting abandoned or having switched sub contractors half way through the project. How do you tell? The sudden slow down in the progress of work. If the project is completed, you see that there are many defects and no one ever turns up to fix the defect works.

What needs to happen is this : stop it with doing things first and then get paid later. If you are serious about your business and your livelihood, insist on getting paid for your service first before delivering.

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