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Brand payment contract

- Hey, everybody, welcome back. Let's talk about finder's fees, in particular, how you can make money with finder's fees. I always say, it's not really that hard working the work. What's hard is getting the work. If you can get work, if you can generate projects, you can always find somebody to work the work. So if you generate work, if you generate new clients, new business, for you or for other people, you deserve to get paid. (light music) So what are finder's fees? Well, simply, finder's fees are when you get paid for sending other people work. Essentially, it's a legal agreement to get paid a percentage of whatever their billable fess are if you send them project work. So for example, I had a client who was a celebrity chef, and she needed some PR work done. My agency doesn't do PR, but I know a lotta people who do. So I made an arrangement with a PR consultant that if she was put on retainer to do work for my client, that I would receive a percentage of her billable fees. So she did the work, but I get a percentage. So when do you use a finder's fee? Generally, you use them when you have developed a piece of business or a project or have a client who needs something that you don't do. You need to find someone who does it. And because that external vendor that you're gonna hook them up with is essentially getting work completely out of the blue, they are paying you for the privilege of having work served up to them. Now, if you do know the vendor that you're referring the work to pretty well, you can do one of three things. You can either refer the work to them for free, which is good karma and, you know, that's the way partnerships work sometimes or good relationships between different types of service providers work. You can just forward them that work and not expect a finder's fee. But you can also have them do the work through you. So essentially, work under the banner of your agency or your creative professional business, and act as a subcontractor and you will manage the project and bill the client, and they will do the work through you. Or you can use a finder's fee, and they will do the work independently, interact with the client directly, and just pay you a percentage of what their billable rates are. So how do you set up a finder's fee agreement? Well, you start with a conversation between you and the vendor that you wanna give the work to. You say, "Look, I have this piece of business. "It's work that I don't do. "I'd love to forward you this piece of business. "It's gonna be a great billable project for you. "You didn't have to go out and find it. "Would you be willing to engage "in a finder's fee...