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Helping Creators build stronger businesses through education and community. Founder @ Creator Logic. xWME, xPatreon, 15 years monetizing Creators. Join 40,000 subscribers at CreatorLogic.com. [email protected]
Your clients can destroy your business - if you're not prepared. Last month, Saks Global unilaterally announced that they were changing payment terms from net 30 to net 90. Imagine if one of your big clients did that to you. For many agencies, who partner with Creators and pay them out of cash paid by clients, it might lead to bankruptcy. If your influencer deals are net 60 (paid in 60 days) because the brand used to pay you net 30 (in 30 days), you'd end up with a huge sum of overdue payments for several months. But it gets worse. Saks made this change because they had acquired Neiman Marcus...and through the acquisition, they had missed hundreds of millions of dollars in payments for well over a year. In fact, they were late on 98% of payments and more than 90 days late on 41% of payments in February 2024. That's well over a year ago! What if that was your client? - Your reputation would tank. - You'd be blocklisted by the industry. - You'd likely get sued. It wouldn't be your fault, but that wouldn't matter. The damage would be done. If you're paying Creators on behalf of another company, you need a safety net - otherwise, you're leaving your business and your reputation in someone else's hands. Fortunately, there's a solution: my sponsors at Breakr. Breakr is an influencer marketing payment solution with a $100 million working capital pool to let agencies get money to Creators even if their brand clients are late to pay: - There's no upfront cost - Breakr takes a small percentage of spend - Working capital rates are very reasonable, as low as 2% - Their platform lets you pay hundreds of influencers by acting as a single vendor in your system If I introduce you, I'll get a referral fee and you'll get a discount on their commission. Don't leave your agency's fate to chance. DM or email me if you'd like an intro to Breakr today!