Start a Project Without a Deposit? Safe or Risky?

Struggling to decide whether to start a project without a deposit? Join Mike Janda as he shares expert advice on when it's safe to take the risk and when it's best to protect your business. Discover the key factors to consider, including client relationships, project size, and contract terms. Learn practical strategies to minimize risk and maximize your chances of success. Should you begin a project without collecting a deposit upfront. In this video Mike Janda presents his arguments and shares scenarios when it might be safe to proceed without an initial payment, as well as situations where you should definitely secure the deposit first. Mike discusses creating trust with repeat clients, dealing with large businesses, and the cautious approach required for new or small clients. He also provides practical advice and a useful contract clause to protect your business in these situation... 00:00 Introduction and Video Overview 00:06 Should You Start Without a Deposit? 00:50 Safe Scenarios to Start Without a Deposit 03:57 When to Wait for the Deposit 05:24 Contract Clauses and Client Communication 08:17 Final Thoughts and Business Policies 09:46 Conclusion ******* Hey there! I'm Michael Janda. I built and sold an eight figure agency with a client list that included Disney, Google, Warner Bros., ABC, NBC, Fox and more. Now I teach creatives how to run a successful business. ******* ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🔍 Video Tags: start a project without a deposit How to deal with a client who doesn't want to pay? How to ask for a 50% advance payment from a client? How do I push a client for deposit payment? How to convince a client to pay a deposit? How to get money from a client who won't pay in deposit? How to ask for a deposit politely? How do you remind a client to pay deposit? How do ask for money deposit? Client doesn't want to pay the deposit Should i Start Without a Deposit? How do you approach a client who hasn't paid? Why are deposits necessary in freelancing? client communication strategies deposit vs no deposit Client Communication Why are deposits necessary in agency business? Agency Business Policies for payments safe projects without deposit risky projects without deposit deposit risks client payment terms Safe Scenarios to Start Without a Deposit When to Wait for the Deposit Contract Clauses payment structures for agency financial security for agency freelance project management tips payment structures for freelance ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🏫 FREE: Preparing for Full-Time Freelance Course https://morejanda.teachable.com/p/01-preparing-for-full-time-freelance 🤔 FREE: How to Analyze a New Project Opportunity https://michaeljanda.com/newproject/ 🚀JOIN: More Creative Academy Feel like you're running your creative business all alone? Not anymore. https://morecreativeacademy.com/ 🔥 COURSE: The Ultimate Freelance Course Learn how to run a successful creative business. https://morejanda.teachable.com/p/freelance 👨‍💻 COURSE: Web Design Business Bootcamp The most turnkey web design business course, ever. https://morejanda.teachable.com/p/webdesign ✍️ FREE: Actionable advice for freelancers and agency owners. https://michaeljanda.com/blog/ 📧 FREE: Get my weekly newsletter with in-depth business tips. https://michaeljanda.com/newsletter/ 🎙 PODCAST: Biz Buds Podcast Join Michael Janda and Tom Ross to learn marketing and business. http://bizbudspodcast.com 📙 BOOK: Burn Your Portfolio Stuff they don't teach you in design school, but should. https://michaeljanda.com/burnyourportfolio/ 📖 BOOK: The Psychology of Graphic Design Pricing Price creative work with confidence. https://michaeljanda.com/psychopricing/ 👋 FOLLOW ME: Instagram: https://www.instagram.com/morejanda/ LinkedIn: https://www.linkedin.com/in/morejanda/