Your Time Is Money
by Heather R. Smith
Question: what happens if you book an airline ticket and then don't show up for the flight?
Does the airline call you and say: “Hey sugar, see you didn’t make the flight, that’s OK, we'll just refund you, hit us back up when you're ready to travel again Buh-bye.”
NO. They take your money.
Why? Because that seat has value – if you don’t show up, they’re still charging you. Their reservations aren’t made on a maybe, they’re made in iron clad, credit card charging, you’re to be at the gate on this date at this time. Couldn’t make it? Something came up? Awwww, things happen, they’re leaving without you but WITH your money. You want a refund? Nope. Without question, you will be charged.
How? They have your Credit Card Number. It was charged at booking.
HEY, THAT’S NOT FAIR!! Yes, it is. It’s business. The airline makes money on scheduled daily and future seat sales. That’s how they plan, forecast, and guarantee the money will be generated and consistently to flow. You book, you pay, and you fly. You book, you pay, and you don’t fly……still you pay. They don’t lose revenue from no-shows.
So, what about you? Isn’t your salary is determined by what’s on your book? Isn’t that too how you plan, forecast, and guarantee your own cash flow? You’re not an airline; I get that, and granted there are unforeseen totally understandable circumstances with clients that have to be addressed, understood. BUT, what about the NO SHOW, NO CALL, NO NOTHIN’ folks out there? And even worse, what if more than one of those situations occur on the same day? And super double triple worse, what happens if you have a couple of times in the same week where that happens? Same as the airlines, that seat has value. Client didn’t show? OK. Did you lose money? Do the math.
STORY: I hosted a shower at my house at the end of August last year - called the party rental place to get 2 drink dispensers - Guess what they required? - A 50% NON-REFUNDABLE DEPOSIT. Why? If I don’t show, they could have rented it to someone else. If I don’t show they lose money, they can’t and don’t take that risk. They still lose money if I don’t show - BUT, some money is always better than no money. What can you do with no money? Make a bank deposit? Nope. Save for retirement? Nope. Buy groceries? Nope. Nope. NOTHIN’
Back to YOU: GREAT clients that schedule and show up on time, no question, they’re not the issue. But, for existing and new hit or miss clients that arrive late to the point you can’t get them in, or the ones that just don’t show up at all without calling or any other reasonable explanation, think about getting a deposit for 25% , 50% or even 100% for their scheduled service cost. Need some motivation to do it? Think about how your days and pocketbook have been KILLED by no-shows….that’ll get it.
Your time as a professional should be respected. Take the money up front. It’s the norm. Our world expects it. It’s not personal, it’s business.
Believe in yourself.