Do you often struggle to get clients to pay invoices on time? Follow our top tips and worry no more…
We’ve all been there. You’ve done a great job on something, sent off the finished work with an invoice for the outstanding balance and then… nothing.
Unpaid invoices are the bane of a freelancer’s life and can lead to serious cashflow problems. To help you overcome this all too common problem, here are our top tips for getting those invoices paid.
Choose the right customers
If you’re going into business with a new customer, then you might want to consider running some quick checks on them online. It might sound like snooping, but it’s perfectly legal to check a potential client’s financial situation online and these days it’s simple to do. It can also save you hassle later on if you suddenly find out your client can no longer pay their bills.
Use an app
A professional looking invoice will be much more persuasive in getting clients to pay than something you’ve put together on Word, and yet many freelancers still choose the homemade option. But these days, with the number of apps on the market that can help you put together professional looking invoices there’s absolutely no reason why every freelancer can’t have a stellar invoicing system.
As payment methods go, it’s safe to say that using cheques is a dying art. And with the time it takes cheques to clear, they can also cause cashflow problems, particularly over weekends and holidays. To avoid these issues, encourage your clients to pay by bank transfer, PayPal or cash and keep payments as instantaneous as possible.
Start chasing straight away
If you’re expecting payment to be made as soon as you send the invoice, then state as much on the invoice. And if no payment is made in the first few days, don’t be worried about chasing things early. Don’t think you’re being rude — you’ve done a job, and you’re entitled to get paid for it.
Pick up the phone
These days entire business transactions can take place over email, which means you never meet your clients or, indeed, hear their voices. But when it comes to chasing payments, simply picking up the phone and talking to your clients can make all the difference. It’s often much easier to strike the right tone on the phone, and clients often appreciate the personal touch even if you are chasing payments.
Don’t let things escalate
If your invoices aren’t getting paid, try and contact your client and get them to pay, whether it’s by email or on the phone. The last thing you want to do is let the situation escalate, because that can cause you undue stress and take up a lot of time while you chase the payment.
Posted by The Secret Businessman