Let's get real. Arthur Andersen LLP is fighting to remain in business -- and so far battle is going strong. The Big Five service company, known as Cadillac of professional firms, is working around clock to resolve possible criminal charges but as it stands right now, verdict has come in. A federal grand jury has indicted Andersen accounting firm, charging it with obstruction of justice, first criminal charge brought in scandal surrounding collapse of energy trader Enron Corp. The firm vows to fight and is also negotiating a sale of some or all of its operations to KPMG, Deloitte Touche Tohmatsu or another competitor. In addition, firm is trying to unflinchingly stop a stream of client defections; those who have already left include Merck, Federal Express, Sara Lee, among dozens of others. Separately, UtiliCorp United Inc., third-largest remaining U.S. auditing client for Andersen is continuing to retain them. All in all though, it's been a terrible time for accounting giant - and it isn't over yet.

What are chances for survival for Arthur Andersen LLP? I'd say pretty good.

Andersen has been looked upon as a public guardian, setting standards for all involved. After its involvement with Enron, their reputation may be tarnished but not beyond repair. We all mistakes but it doesn't mean that's who we are. We have to correct our mistakes, learn from them and move on. The end result is that it makes us stronger but you can't get stronger if people don't allow you a second chance as in case with Justice Department's action against Andersen, not to mention clients running off scared.

After nearly a decade of working for newspapers and like, I started a new life as a marketing executive for a small manufacturing company. As with most small companies, I found myself taking on a variety of tasks, including billing, customer service, inventory and shipping.

The lessons I've learned working for this company, I applied to my editing and Web design business with great success. Here's what I've learned:

* You can set your own terms. You can decide if you will be paid upon receipt, in 15 days or 30 days. Make your terms clear and print them on your written bid and on your invoices. It was liberating to know that I no longer had to wait and keep asking my client when check would be sent out. Nor was I held hostage to smaller companies that considered my invoice a lower priority than their other bills.

* A credit check can be your best friend. Before a manufacturer will give a new client it's best terms (usually Net 30 or Net 45), it will run a credit check. Think about it, when you tell a client they don't have to pay you for 30 days, it's same as offering a line of credit. But what do us writers do? We run to our message boards and ask other writers if they have ever worked with this particular client before. Make a simple form with your logo and call and check references yourself. It may take an hour or two of work, but avoiding one bad credit risk will save you hours more. (It can save a lot of money, too!)