Register as a supplier

– Your clients are going to require you to register as a supplier. This includes setting up a supplier profile, providing tax information, registering for their online portal and providing your banking information so you can get paid. Start the supplier registration process as soon as it’s clear you’re doing work for the client. This process can take a really long time. I’ve had consulting projects where the supplier registration process actually took longer than delivering the consulting work. It’s really consuming. If clients have an online portal, use it. You’ll be able to input and modify your information if it changes. That’s much easier than mailing forms back and forth. Many clients will ask you to sign up to receive payments electronically. I highly encourage you to do this. You get your money faster. You don’t have to worry about checks getting lost in the mail. If your business has any certifications, like being veteran owned, minority owned, women owned, et cetera, be prepared to provide documentation to that effect during the registration process. Some clients will allow you to self-certify with an affidavit. Thought Leaders is veteran owned. I served in the military. Every single one of my clients that asks if we’re a diversity supplier, we send them our certification saying we’re veteran owned. I make sure to get that information in during the registration process. The registration process can be cumbersome. It can be frustrating. You may consider not registering fully because you think, well, we’re only going to do one project for this client. You’re going to regret that decision when the client asks you for a second project. Review your registration information at least once a year. Sometimes there are systems changes. There are data entry issues or there are new information requirements. That’s going to cause you to have to update your information. You always want your clients to have the most up to date information on your firm. Look, administrative paperwork is never fun but don’t cut corners during this step of contracting. It’s even less fun to not get paid or have incorrect information sent to the taxation authorities. This is the cost of doing business. Do it as well as you do your consulting work.