Running your own biz has been a life-long dream, and you love it! That is until you’re chasing overdue payments and struggling to manage your financial situation.
You’re starting to resent the time and headspace this seemingly simple task drains from you… time you could spend taking your business to the next level!
Sound familiar? Well, read on! Because in this blog, I’m sharing my seven top tips to help you optimise your billing to get paid ON TIME (I’ll also show you how Dubsado can help make this happen!)
1. Nurture your relationships
Spend some time and effort nurturing your client relationships, and don’t forget to personalise your invoice emails as much as possible. This could include thanking your client for their business this month or telling them you’re looking forward to working with them in the future. Sometimes it’s the little things that can help us get paid on time!
2. Consider upfront payments
If you’re working on a long-term contract or there’s an upfront cost on your part, it’s totally acceptable to request partial or full payment upfront. It also helps you keep a handle on your cash flow!
How much you choose to request upfront will depend on a few different factors, including your relationship with your client and how you’d typically allocate your costs. It’s definitely something to think about if you want to avoid chasing large overdue invoices down the line!
3. Offer different payment methods
Make it as easy as possible for your clients to pay you! If you’re still requesting to be paid by cheque in 2022, you’re likely to experience delays in getting that cash in the bank!
If you can, provide your clients with a payment method of their choice. This way, they’re more likely to pay on time and stay loyal to your biz. Some easy options to consider are PayPal, Square and Stripe.
4. Make your terms and expectations clear… and more importantly enforce them!
Hit the ground running by making your terms and expectations crystal-clear on your proposals, contracts, and invoices. That way, a tardy client has little alternative when you choose to charge interest or enforce a late payment fee.
If you find that certain clients struggle to pay on time, maybe it’s time to revisit tip number 1 and check in with them. Is there an issue? Is there an easier way for them to pay? Could you offer a flexible payment schedule?
5. Brand your invoices
This one may seem a bit ‘meh’, but stick with me here! How many bland invoices have you received where it takes you a few beats to work out who it’s from and, more importantly, WHAT the heck is it for?!
Stand out with your clients by branding your invoice template and making it as memorable as possible. It’s just another quick and easy trick of the trade to help to get your invoices paid on time.
6. Be on time with your invoices
Make sure YOU’RE not the problem here! Are you issuing your invoices on time or sending them over as and when you remember or can be bothered?!
When your clients receive regular invoices, they know you mean business, and it makes it easier for them to manage THEIR cash flow situation.
If you can, choose a set date each month to issue your invoices. This also makes it a lot easier for you to see which invoices are overdue.
7. Send reminders
I get it. Chasing late payments can be one of THE most uncomfortable tasks to do as a business owner. But you’ve done the work, so now it’s time to be rewarded for that hard work!
We all forget to pay invoices from time to time. We’re human and spinning lots of different plates every day. It happens. And sometimes, a simple, friendly reminder may be all that’s needed. If you’re struggling to find the right words, there are plenty of invoice reminder email suggestions online to help you out. (or you can just let Dubsado do it all for you?!)
How can Dubsado help you get paid on time?
Dubsado is an incredible all-in-one business management tool for creative entrepreneurs that lets you organise and manage various tasks… all from one system!
And one of those tasks is the ability to quickly and easily send beautifully branded proposals and invoices… so you can offer your clients a seamless billing process and get that money into your bank account pronto!
Not only that, with Dubsado, you can set up bespoke payment plans for your clients with instalments, due dates and automatic reminders to make sure you get paid on time.
It really is a game-changer when it comes to your invoicing!
Want to find out more about how Dubsado can seriously up level your business?
‘Teach Not Do’ is my new motto! Because I passionately believe teaching you to set up your client journey in Dubsado is the best way to help you navigate this amazing system.
To find out more, hop on over to my online calendar and book a Zoom and a cuppa!
I can’t wait to help you get started!