Retainers, Fees, Projects … How We Get Paid for Our Work
Pay for the work, not the time sheet.
The advantage of working off pre-approved budgets is that it allows us to bill the project out at its perceived value rather than on an arbitrary collection of time sheets which may or may not reflect the quality of the work provided but rather the agency’s ability to create a paper trail of self-justifying nonsense.
Can you tell we’re not big on time sheets here?
The question we usually get from clients when we introduce this arrangement is “How do I know what you did for the month?” Our answer illustrates our position on client service: “If you don’t know what we did during the month when we were doing it, we’ve failed at keeping you in the loop so you could make informed decisions and get out in front of problems and the competition.” This approach (of keeping clients informed throughout the month and in complete control of ultimate deadlines and where the money gets spent) means there aren’t nagging problems with bills and no problems giving them the “ok” to get processed and paid by the Accouting Department.
You can probably also tell we’re not big on credit memos or past-due invoices, either.
About Liz Lareau, Partner