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(1). Ongoing client relationship management. The term is generally used to describe the absolute smallest amount of work you think you can do to avoid the client firing you.
“Now that the client’s accounts are all in and invested, it should really just be down to basic care and feeding at this point. As I always say – Get ’em in, get ’em invested, then see you in January!”
(1). A cooking-inspired term that is used to compare low-cost services that are included in a contract at no extra cost (wink wink), to a bundt cake.
(2). Miscellaneous line-items included in a contract to make the client feel good about paying you more than they want to.
“The technology fee and set-up fee are baked in to the contract. I have no idea what those are but we have to put something in there to justify our fee.”
(1). A small, unprofitable piece of business your sales guy convinces you to take, claiming “there’s a lot of money behind this one.”
“Yeah, I know the fee on this one doesn’t even cover our cost, but this is a call option opportunity. This guy tells us his company’s going public soon – no, he didn’t say when – and we’ll already be in there when it does!”
