I wasn’t ready for that…
Rarely in life do I see things as clearly as in my last post – Getting Ready – and then have an immediate followup…
Here on Timely Insights we post articles on Mondays … the answer came on Tuesday. And while I was ‘ready’ in the sense that I knew something was coming, I was still shocked at what it was.
I’ve been fairly successful in finding appropriate work and collecting on my invoices.
In 2008 I had my first uncollected invoice – a 3 figure invoice for a client I had done 4 figures of work for in the past. Not a big deal, and I easily moved on.
Earlier this year I had my first client renege on a 4 figure LinkedIn training gig. Between the book, training and speaking I’ve made 5 figures with my LinkedIn work – it was painful, but I’ve also moved on.
And that’s why it was such a shocker to find out that my biggest consulting client is essentially going bankrupt. I can’t say that I know the particulars, but it’s reasonably clear that a) my services are no longer needed, and b) I’m not likely to see anything of my unpaid invoices.
5 figures worth.
Over the long term they were a good client. I’ve billed and been paid most of what we’ve done together in the last 18 months – in the 6 figure range. We’ve done some good work together.
Perhaps that was why I “saw” it coming, but didn’t see anything.
- They’d gotten quiet
- They were slipping on paying invoices
- They had laid off some of their employees
But I didn’t think it was that bad…
So my lesson for the week: Go Bigger!
If it takes a 4 figure customer to lose 3 figures, a 5 figure line of business to lose 4, and a 6 figure client to lose 5 figures, I want to lose 6 figures – and fast!
Because the one thing I have been able to do is shake it off – and roll into the next thing without worrying about the small portion that got away.
Now just where did I leave that lead…-)