18.10.11

I Want My Money! Seven Steps to Getting Paid

What’s the point of working really hard getting sales if you don’t get paid?

Here are seven things you can do to increase your chances of always getting paid.

1. Talk Money

  • Be upfront discussing price, payment methods and terms.
  • Be confident and clear.
  • Practise this in front of a mirror to get more comfortable.

2. Reiterate in Writing

  • Write an email “just confirming the conditions”.
  • Put all your terms on your quote.
  • Write up a terms of agreement if appropriate.

3. Ask for a Deposit

  • Don’t commence until the deposit is received.
  • Asking for a deposit can be a good indicator as to whether or not someone is likely to pay and how quick or slow they are at paying.

4. Provide a discount for full upfront payment

5. Ask for payment

  • Send an invoice immediately after you have completed the job or require a deposit
  • If there is a lag in the time you send out an invoice people may have spent the money and then feel resentment.
  • If you are slow sending out an invoice or don’t ask people may take their time in paying as they don’t see a need to.

6. Follow up all invoices

  • Follow up on the day after the due date.
  • The longer you let an invoice lapse the less likely you are of getting paid.

7. Have strict payment terms by flexible payment options

  • Offer direct deposit, credit card, cash, cheque etc.
  • Hold off on delivery until full payment is made.

TIP: Always accept full payment up front if someone offers!

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