This week’s edition will be different.

Let’s talk about something every professional — especially in the service industry — must master.

I call it the Golden Chain.

To make it concrete, take this real-world scenario from a law firm:

A prospect requests a legal opinion on the validity of a benefactor wishing to create a trust for poor students in the district of Limassol. The benefactor’s bank needs the opinion before it can open the account where funds will be settled.

Here’s how the Golden Chain works in practice 👇

1️⃣ Quote

You can’t quote effectively unless you understand three things:

• The perceived and actual value of your services to the client.

• The average market value.

• Your own positioning and perceived value.

If legal opinions typically range from €2,000–€5,000 and you’re confident in your expertise in trust law, you might quote €3,000–€4,000 + VAT.

But remember: how you quote matters as much as what you quote. A time-based cap, a fee estimate, and a fixed fee all create very different expectations in a client’s mind.

2️⃣ Deliver

Once retained, deliver in line with reasonable client expectations.

In our case, the client expects an enabling opinion — one that can be relied upon by the bank to open the trust account. If the opinion is neutral or overly cautious, it may be technically correct but practically useless.

Know the difference: A legal opinion aims to enable action. A legal advice aims to explore possibilities.

3️⃣ Charge (Invoice Promptly)

An invoice delayed is often an invoice unpaid.

Issue it on time, for the agreed amount, and in line with the agreed structure.

Timing also matters psychologically: Clients are more inclined to pay right after a positive milestone — a win in court, a successful transaction, a favourable ruling — than in a lull or after a disappointment.

4️⃣ Collect

If payment lags, one or more of the following might be true:

• The client wasn’t fully satisfied with the outcome.

• The fee terms were unclear — “estimate” or “cap” confused with “fixed fee”.

• The invoice wasn’t properly followed up. Failing to follow up can stem from poor self-management — or, at times, from a lack of confidence in the quality of the service delivered.

And sometimes, yes — the client simply has cash flow issues unrelated to your work.

Still, your duty is to close every link in the chain impeccably — so that non-payment can only stem from the client’s side, not yours.

💬 Your turn: How do you manage the Golden Chain in your own line of work?

Have a wonderful week ahead, Philippos