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September 7, 2015 at 11:58 pm #992761
I know a lot of people don’t like my posts on this topic, but one certain event has prompted me to ask this question again.
Just a background for some who may not know, I work for a company which secures funds for goods and services being exchanged. It’s security to the seller of the goods and services knowing that once they finish the work as expected, their money is there waiting for them.
So some people get it. And some people are very resistant to the idea. One such business, who we were trying to get on for a while, recently just told one of my work colleagues that they just got burnt on two jobs (20k each). And it just made me wonder, what sort of thought process goes on in people’s minds when they take a job?
They told us that they probably wouldn’t have gotten the job if they had used CheckVault to secure their funds from the client. But from my perspective, I don’t see any difference from getting the job and not getting the job. I’d say he’s worse off. Not only has he not made the 40k he was expecting but he’s spent time, money and resources on this which he could have otherwise spent on himself or another job.
I had asked this question before, I think last year in the forums and I guess, I just have to ask it again, what is more important at the start of the job? Getting it, or knowing for sure you’ll get paid?September 8, 2015 at 1:07 am #1188011Jason RamageParticipant
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What i find more important when securing a job would not fit into either question you ask, as the priority for me in any dealing i have with a client is that of integrity. Requiring both parties to retain it, without starting on a bad foot and inferring a potential hazard before it even occurs or the likelihood of it occurring.
Uncertain of your back ground Prethamesh, although i have been in sales quite some time in a multitude of facets and i tend to find that a consultative or respectful sales person tends to vet their clients pretty well.. Not saying this is FOOL PROOF, although a sales person tends to identify possible risks and most small business owners (well in here i think) would be happy to walk from a potentially risky scenario. As you say, this client you mention wouldnt have potentially gotten the job if he’d raised checkvault.. This could be read as the client was dodgy or other inferences drawn, although we dont really know the situation nor the industry. Could have been bankrupt, could work in an industry where extended terms are mandated such as building heavy weights work or so forth – and maybe their is still recourse for this client to pursue payment, this we dont know either.
Moving on, what i wanted to suggest is as a sales person it is commonly mentioned in training or other ways (rightly or wrongly i dont know) that you need to remove obstacles that prevent a sale and unfortunately there may be some significant resistance from both client and business in the checkvault scenario. Rightly so or not, i am not a judge and as mentioned before i can see merit in the process.. Although i can also see complications in it.
Havent really answered your question or positively re-affirmed that we chould all try to ‘protect’ our revenue at any means (even at the chance of losing sales) by mentioning an escrow service and for that i apologise.. Although, once again, i will watch another of your posts with interest..
Be wellJason Ramage | Lucas Arthur Pty Ltd | E: firstname.lastname@example.org P: 61 3 8324 0344 M: 61 412 244 888September 8, 2015 at 1:59 am #1188012bb1Participant
checkvault, post: 220410, member: 64474 wrote:I know a lot of people don’t like my posts on this topic, but one certain event has prompted me to ask this question again.
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Prathamesh, not sure if anyone has ever said we don’t agree with you asking the questions. You may and have received answers which don’t support the answer you were hoping to get.
They are 2 totally different things, I enjoy every question that comes up, but that does not mean that we don’t like your post, it just means we have a different view, or angle to what you were hoping to get.
I think speaking for myself (but possibly a lot more), yes we would all rather use a service similar to yours to ensure we get paid, than get the job, of course if it was an option why not.
But it is also an industry thing, if I am the only one in the industry asking people to use this service, well, why would anyone use my services.
I now take a different approach, if I think the client is dodgy, I either walk away there and than, or what I have done with a couple of jobs of late (even non dodgy), to pick the most recent I estimated it would be $700.00, so I quoted the job at $1400 and asked for a 50% deposit upfront. Therefore if they were dodgy I still had what I wanted from the job. Ok not the ideal way to proceed, and I will most likely miss out on quotes as they are high, but I am at a stage in life where I would prefer to miss out on a job, than loose on a job.September 8, 2015 at 2:51 am #1188013
[USER=53375]@bb1[/USER] – I did come off a bit weird when I said not everyone likes what I post. Shouldn’t have done that.
But I guess I just wrote this post today in frustration because it’s the first thing I heard when I came into work this morning and it’s like everything we’ve built was for nothing. Plus the guy I’m talking about was someone who had an exactly similar problem last year which is why he reached out to us. He started using the system for a while. And then stopped. And now this has happened.
[USER=34537]@HarryLuke Logistics[/USER] – My background isn’t sales at all. I’m mostly tech and marketing. So maybe that’s why there’s certain things I’ll fail to understand. And you’re probably right where this isn’t a problem that will get solved only using technology.September 8, 2015 at 2:51 am #1188014JohnyMember
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This is bordering on FREE advertising I reckon.
Any escrow service sells their benefits by promoting dishonesty and a lack of integrity in others. In my opinion that goes completely against what business should stand for…. which is relationships and trust.
A good example is with manufacturers in China. Many say you should only use an escrow service with them. The problem is that many or probably even most won’t use an escrow service because it ties up their cashflow. End result would be that goods cost more which then impacts on people being prepared to buy the product at all, which then has an impact on the business.
Yes, there is some need for this type of service, but suggesting that some people are resistant doesn’t mean they don’t get it.September 8, 2015 at 4:01 am #1188015Johny, post: 220426, member: 34822 wrote:This is bordering on FREE advertising I reckon.
Hi Johny. Sorry, but I don’t think this was me advertising anything. Okay, given where I work, it may come across that way, but as I mentioned, I’m mostly a tech person. And a little bit of marketing on the side. And as a developer, I was just looking for feedback. I got feedback from that particular user, but then I wanted to know if it was an argument shared by all.
As a technical person, you see a problem, then the market opportunity and then come up with a solution. There’s tons of data showing that this is a big problem in many industries (construction being one of the largest).Johny, post: 220426, member: 34822 wrote:Yes, there is some need for this type of service, but suggesting that some people are resistant doesn’t mean they don’t get it.
So the problem exists, and as you said, there is a need for this type of service. But then I wasn’t inferring that just because in this particular example, the person was resistant, they didn’t get how it works. They understood it well. So the technology part worked.
But then I guess, it’s not a problem that can be solved using only technology. There are larger forces at play which as a technical person I am yet to understand fully.September 27, 2015 at 1:43 pm #1188017Sophie517Member
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You r looking at one end of the spectrum. The other question would be, is the hirer willing to use your service and deposit the money into ur account prior to work being done.
On the same token, how reliable is your company? Rather than the contractor just thinking of whether the hirer would pay them, they now have to consider the risk of the third party (you) as well. What have you done to prove your credibility?September 27, 2015 at 8:26 pm #1188018bb1Participant
Sophie517, post: 221544, member: 70208 wrote:On the same token, how reliable is your company? Rather than the contractor just thinking of whether the hirer would pay them, they now have to consider the risk of the third party (you) as well. What have you done to prove your credibility?
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Very good point, there needs to be trust on both sides of the equation, one person either needs to put money upfront or services upfront. In either scenario there could be a winner and a looser.
And even using an escrow service, as good as it sounds, there is still potential that one party , doesn’t end up with their cash or service, without an expensive battle. And it is a possibility that both sides are left out in the cold.
It all comes to trust, do your due dilligence
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