Bimani: BPS Security Quoted a 20% Surcharge to Force Weekly Payments
Glenn Bimani · He Gave Them the Dollar They Asked For, Then Walked Away · May 7, 2024 · at 21:47
Glen Bimani, founder of BPS Security, explains how he structured payment terms to prevent payroll cash flow deficits caused by standard Net 30 or Net 45 client terms.
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“I started telling clients we charge upfront before sources are rendered. And then they would tell me, well, we only do net 30 and net 45. Those are your two options. That's what they would tell me. I'm like, well, we charge a 20% price increase. So if we're going to charge you 25 dollars, you can add a couple of dollars to that more for your net 30. They're like, oh, we're not going to pay the 20%. I'm like, well, tell you what, pay me every week and I won't give you a price increase. I'll waive that fee for you. So that's how we started getting clients to pay us every week on the dot.”
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