CSRNation
Welcome to CSR Nation
Show me the money!!!!
Okay. If you're trying to hide your head in the sand and say the economy is great and you're doing just as much business this year as last year. That's awesome for you. Maybe you're doing more. Good for you!! Stop being so selfish and share the wealth. Send me a job already.
However, my gut feeling is that reporters are seeing more cancellations, more settlements just before you get the transcript in. Insurance agencies are telling the attorney, hold off on that depo, settle that case. Businesses all over are having a hard time getting a line of credit to expand their business or buy much-needed equipment. They're paying slower and slower.
How does this apply to us? Whatever you think, whether you're an independent contractor or an "employee," you are a business. I know of very few reporters who work exclusively for one agency. And I mean exclusively, 100 percent for one agency only. If you've taken even one job for a different agency than your "main" agency, then you're a business.
Why? Because you're setting the rate and you're making the decision to take the job or not take the job. I assume you get calls from other agencies asking you to take a job. You make the decision as to whether to take the job or not. I'm sure factored in on that is how much are you going to make and when are you going to get paid. These are business decisions that you are making for yourself. Do I need a new laptop? Can I afford to renew my NCRA membership this year? Can I buy the latest writer or will my current writer continue to work for me? Can I afford a scopist? Can I not afford a scopist? Will I be sending out gifts to my clients, agencies that I work for, scopists that I do business with.
Are you noticing a slowdown in how fast you're getting paid? Are the agencies saying they haven't gotten paid yet, therefore they can't pay you? Do you work for very large agencies that have a cash reserve that will tide them over?
Why do I bring this up now? Because we are small businesses. A lot of us live paycheck to paycheck. We cannot afford to wait forever to get paid on something. This is just one more thing you need to consider before taking a job with an agency. How responsive are they to me when I question what I'm being paid? Are they paying slower than usual? Are they in trouble financially? If this agency goes down, will I get paid?
I've started doing some work for the Government. It's nice. I am pretty much guaranteed my per diem. And when a transcript is requested of me from an attorney. I get paid upfront. Yes. UPFRONT. I don't even have to start working on the transcript until the money is in my hot little hand. Whoo-hoo. They want an expedite, they send me the money overnight. I've actually had one law firm send me the money that day through a courier because they want me to start on the transcript immediately.
What does this have to do with agencies and the way we get paid? Not much really. But it's food for thought.
I know that if a law firm comes to me asking to be paid, that I will either request a retainer or money upfront before I take a job. Why? Because I don't want to deal with the hassle of chasing them down for the money, especially if the case settles. I do know of agencies that send things out COD especially for law firms that don't pay. At one time, at a depo, I actually had to tell the attorney to see the receptionist and he had to pay money upfront before we even started the depo. So why do agencies wait until the law firm is so much in arrears that you have to take them to court to get paid? Why do they continue to set depos with them when you know you're not going to get paid?
I'm sure some of you must have heard this before. Do you walk into a grocery store, pick out some vegetables, take them home, and eat them and then pay the grocery store? No. We pay before we walk out the door.
So what's my point? Keep track of what you're getting paid, when you're getting paid. If you take new work from agencies, check it out. Ask your peers not only do they pay well, but do they pay on time. If you're slow, now is a perfect time to go over the accounts receivables for your "company." Call up the agency and remind them that you still have copies outstanding. I've done that a couple of times this year and this is what I hear. Oh, the law firm said they didn't want the copy after all. What? Well, how come you didn't tell me. You mean I've been sitting around waiting to be paid on something that's never going to get paid? Yep. You'd think they'd tell you, but no.
Christmas is coming up. I think there will be great bargains out there. Shop!!! Shop!!! But make sure you've got the cash flow to cover that credit card debt. Don't depend on copy sales that may or may not materialize.
However, my gut feeling is that reporters are seeing more cancellations, more settlements just before you get the transcript in. Insurance agencies are telling the attorney, hold off on that depo, settle that case. Businesses all over are having a hard time getting a line of credit to expand their business or buy much-needed equipment. They're paying slower and slower.
How does this apply to us? Whatever you think, whether you're an independent contractor or an "employee," you are a business. I know of very few reporters who work exclusively for one agency. And I mean exclusively, 100 percent for one agency only. If you've taken even one job for a different agency than your "main" agency, then you're a business.
Why? Because you're setting the rate and you're making the decision to take the job or not take the job. I assume you get calls from other agencies asking you to take a job. You make the decision as to whether to take the job or not. I'm sure factored in on that is how much are you going to make and when are you going to get paid. These are business decisions that you are making for yourself. Do I need a new laptop? Can I afford to renew my NCRA membership this year? Can I buy the latest writer or will my current writer continue to work for me? Can I afford a scopist? Can I not afford a scopist? Will I be sending out gifts to my clients, agencies that I work for, scopists that I do business with.
Are you noticing a slowdown in how fast you're getting paid? Are the agencies saying they haven't gotten paid yet, therefore they can't pay you? Do you work for very large agencies that have a cash reserve that will tide them over?
Why do I bring this up now? Because we are small businesses. A lot of us live paycheck to paycheck. We cannot afford to wait forever to get paid on something. This is just one more thing you need to consider before taking a job with an agency. How responsive are they to me when I question what I'm being paid? Are they paying slower than usual? Are they in trouble financially? If this agency goes down, will I get paid?
I've started doing some work for the Government. It's nice. I am pretty much guaranteed my per diem. And when a transcript is requested of me from an attorney. I get paid upfront. Yes. UPFRONT. I don't even have to start working on the transcript until the money is in my hot little hand. Whoo-hoo. They want an expedite, they send me the money overnight. I've actually had one law firm send me the money that day through a courier because they want me to start on the transcript immediately.
What does this have to do with agencies and the way we get paid? Not much really. But it's food for thought.
I know that if a law firm comes to me asking to be paid, that I will either request a retainer or money upfront before I take a job. Why? Because I don't want to deal with the hassle of chasing them down for the money, especially if the case settles. I do know of agencies that send things out COD especially for law firms that don't pay. At one time, at a depo, I actually had to tell the attorney to see the receptionist and he had to pay money upfront before we even started the depo. So why do agencies wait until the law firm is so much in arrears that you have to take them to court to get paid? Why do they continue to set depos with them when you know you're not going to get paid?
I'm sure some of you must have heard this before. Do you walk into a grocery store, pick out some vegetables, take them home, and eat them and then pay the grocery store? No. We pay before we walk out the door.
So what's my point? Keep track of what you're getting paid, when you're getting paid. If you take new work from agencies, check it out. Ask your peers not only do they pay well, but do they pay on time. If you're slow, now is a perfect time to go over the accounts receivables for your "company." Call up the agency and remind them that you still have copies outstanding. I've done that a couple of times this year and this is what I hear. Oh, the law firm said they didn't want the copy after all. What? Well, how come you didn't tell me. You mean I've been sitting around waiting to be paid on something that's never going to get paid? Yep. You'd think they'd tell you, but no.
Christmas is coming up. I think there will be great bargains out there. Shop!!! Shop!!! But make sure you've got the cash flow to cover that credit card debt. Don't depend on copy sales that may or may not materialize.
Views: 42
Add a Comment
-
Comment by Kyung on October 31, 2008 at 6:35
-
Ohio.
-
Comment by Judy on October 27, 2008 at 15:28
-
What states consider court reporters employees?
-
-
I think in some states court reporters are considered employees. And also, it's a state of mind. Some people think that they "work" for the agency.
But you're right. You're technically still a "business" even if you work for just one agency here in California.
-
-
How so? I don't understand your response.
-
-
Well, I think that depends on the state you're in.
-
-
Kyung,
If you've taken even one job for a different agency than your "main" agency, then you're a business.
Why are you not a "business" if you work for just one agency? Are you then an employee?
-
-
Unfortunately, I am not taking any tests next week.
-
-
So, Kyung, what test are you going to be sitting for next week?
Judy
-
Comment by Anthony D. Frisolone on October 26, 2008 at 15:16
-
Yeah, that was my advice, Judy, but I'm really just parroting what Kyung has said in the past. I feel it can't ben said enough that we should always work on our skills and stay fresh.
-
-
practicing for the RPR, RMR, CRR
Kyung, That's darn good advice for your slow times.
Judy
Latest Activity
© 2024 Created by Kelli Combs (admin).
Powered by
You need to be a member of CSRNation to add comments!
Join CSRNation