"Because our competitors do" Is Not a Good Enough Reason
One of the arguments Erik has sometimes with other entrepreneurs and even internally at Array Digital is whether someone should do something because someone else offers that service. Erik recently had a client that came to him, someone that had been a client for months typically paying by ACH who now wanted to pay by check with net 30 terms. We don’t accept net 30 terms. If someone’s going to pay us by check, we give them 7 days. Our billing is the same every single month and there’s nothing for our clients to review. The client said on the phone that in business it’s customary to give net 30. But we don’t do it that way and we want to be paid up front. You can set your payment terms however works for you and you shouldn’t be pressured to change it because someone else does it that way. — Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups. — Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups. — For more information on the show, and to check out past episodes, go to journeyto100million.com!