Listen: Eric Olson, Eric Olsen, Alexa discussed on Journey to $100 Million
"We do? But we didn't always and keen about in kind of painful way for me going back about five or six years when I was still doing customer Soffer development. I went to a customs offer development conference and I gave a talk to the attendees about payment terms. So payment, terms are how quickly you collect money after you invoice a customer, we use terms like net sixty meaning that once you give the customer, the invoice, they have sixty days to pay it. So you could have sixty have thirty you could have seven the terms are really up to you to decide and negotiate with your clients. And there are cash flow ramifications based on what you select. If you say net, sixty set of say net seven will you have to weigh, sixty days, which means you have to fund all that work yourself one way or another? So that was what the talk was about. And to my surprise the room was pretty packed. It was kind of a small room to be honest is sat maybe forty people, but it was standing room only. And so there was probably fifty people there. One of the attendees was a very well known speaker who was also speaking at the conference. I did not know him but I knew who he was. I had seen him. Talk a couple of times. And it turns out that not only was he software developer, but he had his own side business. And he asked me a question during my talk about my contract something to the effect of what is in your contract, and I told him well, I don't actually have a contract, I send a proposal to the client, and then they just sign it and send it back and in the proposal, I just type out myself like every single time what the scope is. And when I should expect to get paid in and how much and he said, okay? And I concluded my talk, and then I went into the hall about fifteen minutes later, and he was talking to his other speaker, buddies in the hall, and I was off about twenty feet or so. And I heard him bad mouth me he was. Literally talking about what an idiot, I was because I was recommending to people to not use contracts. And I was really honestly my feelings were hurt at first when I heard him talking like that, about me because I'd only interact with him. One time and I didn't actually say don't use contracts. I said I don't use contracts right now. I use a proposal. And so I actually decided instead of ignoring it, I went up to him, and I wasn't going to confront him. I just told him. Hey, I, I heard what you told your friends about me, not using contracts. What do you use? What do you recommend? So I didn't confront him because I was pissed that he was talking trash about me. I actually approached him because I wanted to learn it took a decent amount of humility to swallow, my pride and ego and go talk to him and ask him how I could learn from him and. As someone who was more of an expert at the time than me. I wish he would have approached it differently. I wish he would have brought the information to me in a positive way instead of in a negative way. But I'm also kind of happy that I handled it the way that I did. And I realized it was an opportunity to learn said of an opportunity to be pissed off somebody, and he explained exactly what he did he explained the methodology that he used and it led me to do a lot of research, and I finally came up with the contract about two weeks after that conference. And I've used a contract ever since and on never not do work without a contract, every single thing that we do here is based on a contract that derive because of that one incident it was a humbling experience to me. I didn't like it was painful, but I grew from it, and what I want to just kind of stress and reiterate is that even in painful situations, even when maybe you feel humiliated, there are times and opportunities where you can learn and you. Get stronger, and you get better, and you need to figure out how you can turn the negative into something positive. Thank you for listening. I hope you heard something you can implement in"