How to get paid on time every time.
Has your client ever left you high and dry?
I've heard dozens of stories of unpaid invoices sitting in unchecked inboxes of businesses that may or may not come out the other side.
Clients are ghosting mid project leaving business owners with a half finished product and unbilled hours. Promises that payment will come as 'soon as we can' pour out like Friday night wine.
Rona is definetly the cause of many of these scenarios but this is nothing new. Now is the time to reasses your payment terms and processes.
Think about it. You hire a business coach, when do you pay? Up front 💸
Take your car to get fixed? No cash, no car 🙄
If getting paid up front makes you uncomfortable then:
• Make sure you have control of the deliverables. Ownership of assets transfers with payment.
• Have a clear services contract detailing exactly what you AND the client are handling, what's not included, date of delivery and more.
• Take a deposit. You can provide free value on your discovery call, but a signed contract and cash in hand starts the project.
While this all may sound a little sterile and cold, it's smart business that can be streamlined into a pretty CRM like honeybook or dubsado. A beautiful proposal followed up by a contract and invoice on auto pilot.
Guess what? That type of efficiency is appealing to your client. It means you've done this before, you value their time and you don't waste time on paper pushing.
You spend time delivering your amazing coaching, course or photography skills.
So let's talk about that money, honey.
There are several software types that are built for YOUR business needs.
Photographers - try Honeybook - You can connect with future clients and send beautiful proposals in a snap. You can send contracts and invoices, even set up payments plans on auto pilot. That's right, get paid without lifting a finger.
Creatives - try Dubsado - Similar to Honeybook but more ways to share files with the client like draft logos, etc.
Coaches & Course Creators - try Kajabi - while there are hundreds of course platforms, Kajabi (the platform I use) was the best fit for Freebird. It has funnels, landing pages, hosts courses, events, memberships, email marketing and MUCH MORE! You can even collect payment for your one on one coaching services keeping all pertinent info in one platform. No need to add platform on top of platform, it's all here. Plus, it is pretty darn user friendly.
Whatever you choose, keep it simple. No need to overload your new client with payment options. Choose 2-3 methods TOPS.
Most people will likely pay via credit card, because (duh!) CC points! We all know that accepting credit cards means accepting cc payment processing fees. Welp, that is what we call the cost of doing business. There's no way around it so factor in that 3-4% of any offer is going to CC fees.
"But what about Venmo?? It's freeeeeeee and my clients don't mind."
Venmo & PayPal are NOT for business use. The terms of service are very clear about it and I've heard the horror stories of accounts (ie your MONEY!) being locked for violating the TOS. There are however both Venmo for Business & PayPal for Business and you guessed it, they charge a fee.
Don't sweat the fees. Every business pays them and they are tax deduction.
So let's get back to the moral of the story. Find a platform that will help you automate and make the sales process as efficient as possible! The client has their card in hand ready to make an important (sometimes impulsive) purchase.
Are you ready for them?
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