4 Tips for Getting Paid On Time
There are few things worse than sitting around and waiting for a new client to pay you. While you may have an agreement, and you may trust them as much as you can for someone that you just met, you still worry about the invoice getting paid on time, and with the right amount of money.
You may have run into issues with getting paid in the past, or you may find that clients pay you whenever they feel like it. People will often take advantage, and they’ll leave you feeling stressed about when the money is coming in.
To avoid all of this hassle, here are 4 tips to make sure that you are getting paid on time…
1. Make Sure Your Clients Understands Your Prices
Part of the reason that you aren’t getting paid on time–or correctly–may be that your clients don’t understand how much they should pay, or why.
Even with an invoice, they may not feel the work is done, or they may think that more work is due–so they don’t want to pay before that work is done as well.
To avoid the frustrations of going back and forth with a client about what should be done and for how much, make sure you outline everything in detail and in writing before you start the project.
For instance, if you are a freelance writer and you charge a lower rate because you don’t do second rounds, then let your client know BEFORE you start the project.
Then, you can refer them to where you stated, in writing, that there was only one round.
2. Let Your Clients Know How to Pay You
Sometimes the issue is that your client doesn’t fully understand where and when to send you money.
I always let my clients know before I even send the invoice how I accept pay. If you only take money through checks, cash, PayPal or credit cards, let them know so they can prepare for it.
3. Let Your Clients Know When to Pay You
Honestly, without a hard deadline, a lot of clients won’t be in any kind of rush. After all, you want to part them from their money. They like their money. You see the issue…
Make sure they know when you expect to be paid, and if you can, set that expectation before you send your invoice.
4. Remind Them to Pay You
I know it’s a bit annoying, but if a client is dragging their feet, politely remind them to pay you.
Your business isn’t a charity. They received a product or service from you, and you deserve to be paid fairly for it.
They may simply be busy. Cut through the clutter by sending them a friendly, but stern email reminding them that you exist, and that they owe you money. If it goes a few days and they still haven’t paid, remind them again.
What’s more annoying than someone bugging you about money? Being forced to bug someone because they won’t pay you! You’re in the right in this situation. You made an agreement, and they need to fulfill their end.
With these tips in mind, your clients will have your money ready, and you can breathe easy knowing the money is in your bank account.
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