To walk the talk can be another way of saying that one’s actions should speak louder than their words. In many industries, walking the talk could mean different things. Overall, the main message is that people should live up to their promises. When dealing with clients, it is important to apply caution to avoid fraudsters and bad debtors.
Because of this, it is important that any organization have in place a legal framework to deal with their clients and ensure that they pay up on their dues. How thendoes a new industry or business trust that their clients will pay the debts.
The obligations that a client owes to a business are mostly financial. As you provide your service to them, it is expected that they too pay for the services or the goods depending on the nature of the business. If in any case, client defaults in payment they have gone against their contractual obligation and should be legally liable for this action. A client who walks the talk can have benefits, such as access to the institution or the business’ premises and being given first choice in selecting products and services. It is important to know that in order for a client to keep their promises to you, then as a business, or as an individual, you must also fulfill all your obligations without providing excuses and reasons not to, leading the client by example. If the client recognizes that the work is professional, then it is likely that they will also play their part in the agreement.
Among the ways, which as an entrepreneur you can ensure that, your clients walk the talk, is by establishing financial boundaries with the client. One way of handling this is having the money discussion during the first meeting and ensuring that, you explain to the client in a clear and concise manner what you wish to fulfill for the client and what the compensation terms are. This clear communication is very important because it establishes critical financial boundaries with the client as early as now.
It is also important to formalize the legal agreement and in this agreement, both parties need to provide the specific services and the payments, which they accrue. In the agreement, make sure the clients clearly stipulate that they will pay a certain amount for particular services as well as the time and mode of payment.
The use of late payment fees has also earned some success in ensuring that client’s walk the talk. If the client is particularly stubborn, it may be useful to approach the problem directly making sure to do this when the project is at a critical stage so that they cannot bail out of the project. It is also important to ensure that the invoicing is done appropriately and that there are billing standards, which the client must agree to during the signing of the contract.
It is very important that the client sign the necessary documents before the start of any transaction or business enterprise. If the client refuses to provide you with written assurance of their willingness and readiness to fulfil their obligations, then this should immediately flag as a sign of dishonesty. This is why it is advisable to only start carrying out businesses when the contract is ready and signed by both parties.
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