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Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Protecting Yourself
You can protect yourself in several ways when you are concerned about the creditworthiness of your prospect. Providing an estimate that contains one or more of several conditions is the key. Here are examples of language that can help you weed out bad payers and/or make your likelihood of being paid higher. I do not recommend using these conditional terms when you have faith in your prospect’s ability to pay. They can raise red flags in your prospect’s mind.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Checking Credit
A great way to avoid deadbeats is to check a prospect’s credit. I have been surprised at the number of photographers who will complete an assignment for a prospect for whom they have never worked before, is in a different part of the country, or they know practically nothing without checking the credit worthiness of the prospect. There are five ways to check credit. One of them costs money. The others only take a little bit of your time.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Call the Debtor
The telephone call is made to your client’s accounts payable department. Don’t hassle the art director or editor with a call unless you think he or she can really get you some action. When you call have all the information about the job and copies of both invoices and any purchase orders or other paperwork. This is an important call. You are going to be very friendly, but you are going to push for action. Once you have the person on the phone you might say something like this.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Collection System
The likelihood of being paid is enhanced by good systems. You have read about the types of problems that cause tardy payment and how to remedy them. Above, you have a simple policy to follow in deciding when to begin collection action. Now you need to begin the process. Collecting money can be quite aggravating to both the late payer and the collector.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Efficient Recordkeeping
Keep an accounts receivable tracking log such as that in figure 30. Enter every job on it when you are awarded the assignment. This way you will not forget or fail to do it because you have other pressing work. Check the list for overdue invoices at least once a week.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Failure to Comply
All too many photographers fail to find out how to invoice the client. In many cases the photographer sends an invoice with the finished work to the art director or editor only, when the client requires it to be sent to the accounts payable department. Do not assume the person receiving the work will pass your invoice on. Almost every company has a policy for receiving and handling invoices. Here are the things you need to know about invoicing any client.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Bankruptcy
Businesses go bankrupt. When they do, the money they owe you and whether and how much you get paid are subject to a complex body of law and long action timelines. You are not going to be able to do anything but wait for an outcome. Secured creditors get paid first, and that usually eats up all the assets of the company. Photographers are unsecured lenders. They wait. If unsecured lenders get anything, it is usually pennies on the dollar. If the bankrupt company is reorganizing you will get paid something, but again it is pennies on the dollar. Once the bankruptcy is concluded the company’s debt is discharged, and you can do nothing to stop that. There is only one way to protect yourself from being damaged by a company’s bankruptcy. Don’t deal with financially shaky companies. There are ways to find out if companies pay their bills. We’ll explore that, subsequently.

Originally published as Chapter 13, in the book titled The Real Business of Photography , Allworth Press, NY ISBN 158115-350-3

Nothing is more frustrating than committing your time and money to doing a job, and then not being paid for months or perhaps never being paid. During my fifteen-year tenure as ASMP’s executive director, I spoke with hundreds of photographers who were having such problems. In some cases I was able to advise them and they collected. In some cases ASMP intervened using its “good offices” to pressure the late payers. ASMP even had an arrangement with a collection service for its members, and when that failed we were quick to advise members how to use the legal system as a means of collecting.

Originally published as Chapter 7, Negotiating Stock Photography Fees n the book titled The Photographer’s Guide to Negotiating, Allworth Press, NY ISBN 1-58115414-3

Applying the Trade-Off
There are two potential values that can replace cash in a stock sale. One is a credit line that could lead to more sales. By that I mean a credit line that lets people find you if they want to see your work or inquire about your photographic inventory. A credit line that reads “Photo: Pat Photographer” is not what I mean. You want a credit line that reads “Photo: www.patphotographer.com.” The latter tells viewer where to find you. That can lead to more sales than simply getting your name in print. The other value is copies of the piece in which your photograph will appear, if it is to appear prominently, and especially if it is credited to you (even with just your name and not your Web site). Good products containing your photography make good promotional tools for stock photographers just as they do for assignment photographers. In the ideal scenario you get both the locator credit line and copies of the brochure. This tactic has the advantage of allowing you to present options, which is a tactic in itself.

Originally published as Chapter 7, Negotiating Stock Photography Fees n the book titled The Photographer’s Guide to Negotiating , Allworth Press, NY   ISBN 1-58115414-3

“Ensurance” Factor
You know that risk is a factor in business and in negotiating. You know that one hidden concern of an assignment-photography buyer is that the commissioned images will not meet expectations. Stock photography totally eliminates that fear. The buyer can see the exact image he wants and will likely end up using. The risk is gone. Your competency is not a factor, and expressing your commitment to delivering high quality is not a useful tactic. But there is a new factor you can use to your advantage. I call it the “ensurance” factor. By pre-producing an image the client wants, you have eliminated risk and ensured the desired result. “Ensure” and “insure” are synonymous, but they do have different connotations. We know insurance is normally acquired by paying a premium. Ensurance,” on the other hand, is normally free. My point is that when you have ensured the buyer, you cannot charge a stand-alone premium, but you should get a premium price.