Pay for Performance: The Right Way to do Business

Times are tough for a lot of consumers. Money is tight and prospective customers are looking to save money wherever possible.

A great way to attract that business is to earn it by saying you'll only get paid if you perform. I know some of you think that might not be fair. It's great to get money upfront, but sometimes we need to adjust. If you really think about it, most business is pay for performance.

Think about Google's pay per click campaigns. You're only paying Google if someone clicks on one of your ads.

How about eating dinner at your favorite restaurant? You have to pay for the food once you get it, right?

Well, the thing that will really set you apart is not just guaranteeing performance, but giving superior performance.

I've recently read a couple articles where marketing firms are not charging retainer fees and instead asking for a percentage of the increase in business they're responsible for bringing in. They're getting creative. So should you.

Think about how you bill your clients. For example, in our property management business we get our management fee once we've put a new tenant into our client's property. No tenant, no fee.

If you do good work for your clients you shouldn't worry about getting paid...right?

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