120 Day Payment Terms
I’m sure that by now, you’ve read the Adweek article from May 16th stating the insane conditions of the General Mills RFPs – wanting 120-day payment terms and ownership of IP.
Check out my thoughts on how your agency can afford to lose this kind of business by focusing on building relationships with clients that will pay appropriately for your work to increase their brand value and equity.
Lisa Colantuono
Lisa Colantuono is the President of AAR Partners. An agency search consultant for nearly two decades, Lisa is also an avid writer. Lisa has contributed many articles in top industry trades such as Forbes, Huffington Post, Advertising Age, Adweek and HubSpot Blogs’ Agency Post. Recently, Lisa entered the world of publishing with her book, @AARLisa: New Biz in 140 characters (or Less), written for the on-the-go new business exec that needs cut-to-the-chase insights to nail new business wins again and again. Lisa is also part of the industry speaking circuit, presenting at national conferences including 4A’s Transformation Conference, AAF Admerica National Conference, BOLO, HOW Design Live, Mirren, and AdAge Small Agency Conference.