3 ways to deal with late-paying clients - Issue #20

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3 ways to deal with late-paying clients - Issue #20
By Joseph Solomon • Issue #20 • View online
Death. Taxes. Late Freelancer Payments.
Late payments will unfortunately always be a reality for freelancers around the world.
Some clients will ghost you for a week or two after you submit the final invoice.
Others will pay you months after you’ve ended your contract.
Although late payments are commonplace in freelancing, you should never have to wait weeks or months for your hard-earned money.
Here are 3 ways to regularly get paid on time
1) Never do any work without a contract. In your contract, clearly lay out payment terms and penalties for breaching those terms.
2) Establish clear penalties for late payments. You can add a sentence into the contract like “Payments made 30 days after invoicing are subject to a 10% late fee. ”
Important: Make sure that the client is clear on this and that they accept. If they don’t budge, decline the project. You’re doing yourself a favor by refusing to work with an unreasonable client.
3) Use invoicing software with automated reminders for payments. Tools like Wave & FreshBooks allow you to send reminders to clients after a certain number of days. Remember that some clients just need a reminder and that they’re not withholding your payment on purpose.
I recently worked with the CMO of a company that had a lot going on in her personal life. Sending her a couple of invoice reminders always did the trick.
What’s your favorite way of avoiding late payments from clients? Hit “reply” and let me know!
Until next time ✌️
-Joseph

 

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Joseph Solomon

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